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Thanks for creating your book. It has taken my life on a new course - hard at times, but all the time fulfilling as I overcome and grow. Many people are looking for a vehicle but cannot find one. I can say the night I found your website my life changed forever.
As I mentioned before, this company did some very substantial business. Let me tell you one story I will never forget. We were doing tremendous business with one particular item, a Bentwood Rocker, which would retail from $29.99 - $99.99 depending on the store where it was purchased. The quality would also correspond to the price you paid for it in either Taiwan or Korea. These were the only 2 countries making the Bentwood Rocker at the time and it was a key promotional item for us. It is supposed to be made, if it is the best quality, of 16 plies of wood which were treated in hot water and bent into shape, glued together, and sanded down. Sometimes the sanding process would lose a little wood, but not more than 1 or 2 plies.
One of my duties was to make sure we were getting a good quality product and were not being ripped off which can very easily happen if you are not on top of things. On one of my inspections in the warehouse, I came across a broken Bentwood Rocker. It really shouldn't break, so I took a closer look. Instead of 16 plies of wood, there were only 6 plies.
I went to my office, called the warehouse people at 4 different stores to bring me a sample of the Bentwood Rocker they had in stock and a saw. A very strange request. Anyway, they brought me the samples and a saw and began sawing. To my disbelief, all the rockers were made of a maximum 6 - 8 plies, not the 16 plies we were GUARANTEED in writing! I advised the President of the company what I discovered.
Now I will show you what you can do if you have huge buying power. The very next day in Asian time, for us it was 2 days, we had the top honchos from our Taiwanese and Korean factories and trading companies in our showroom. I'll never forget the scene that followed. Here is everyone dressed in suits and ties on their knees sawing Bentwood Rockers. I just sat and watched the show.
After seeing only 6 plies of wood, the suppliers agreed to give us credit of $1.00 per rocker. We had ordered 1 million pieces, and the very next day they wired $1,000,000 to our bank and promised never to allow such a thing to happen again. They gave me a Chinese name which, when translated, was the "man who saws rockers." This little story quickly spread to other suppliers, and even years later I was still known as the guy who saws rockers.
This incident created our Import Control Dept. We started checking and comparing every imported item submitted to us prior to ordering it. We checked everything: measurements, weight, material, fabric, design, everything to the smallest detail. And we started to fine our suppliers if the merchandise was not in compliance. Since we did substantial business with them, they did not want to lose our business.
You hear about poison food from China, hundreds of thousands of toys recalled for having lead-based paint, and many more problems. On our future training videos, I'll explain the real problem with the Chinese manufacturers and their products.
Of course, these problems are our own fault. The government did not set up what I did ... an Import Control department that could impose hefty fines for shabby merchandise or for merchandise not as ordered. I'll also teach you that on my future videos. You'll see that I definitely know my stuff!
When you get started, you will, in all probability, start small, so keep this story in mind. Stay on top of things and you will not get ripped off.
You can start tomorrow even if you have no money. What you do need is the belief that you can do it, and the desire and determination to succeed.
When you buy my book, From Rags to Riches in Your Own Import/Export Business, I'll give you sources to Asian product publications which you can get for FREE. The cost to buy all of them would run into a few hundred dollars.
Today, because of the Internet, you now have a tremendous advantage in the Import/Export business. You can easily contact anyone in the world - and it costs you nothing! You can also get a response almost immediately - and it costs nothing! When I was Import Director for the retail organization, I had to use the Telex machine and, because of the time difference, I had to make many overseas phone calls from my home. The Internet changed all that. The Import/Export business truly became a global business. It is definitely THE business of the future. By starting today, you can get a huge jump and advantage over those coming in later on.
I am sure your next question is ...
Here is what you do. You ask the German department store to open a Letter of Credit in favor of your bank in the amount of $575,000. This is the cost of 23,000 gizmos @$25. You then instruct your bank to issue a Letter of Credit to your Hong Kong manufacturer/supplier in the amount of $460,000, with instructions that when the container arrives in Germany, is cleared by Customs, and is received by the German department store, the money is to be released. The import/export business is mainly done by Letters of Credit.
The reason the bank pays the foreign supplier is that the bank now has an LC (Letter of Credit) from the German buyer. You don't need money. What you need is a good business relationship with the bank!
To repeat ... A Letter of Credit is opened by the Buyer's bank (in this case Germany) payable to a U.S. bank (because I created that deal). The U.S. bank will wire a Letter of Credit to the bank in Hong Kong where the supplier/manufacturer does business. This is how this business is done every day.
Remember, the German Letter of Credit to your bank was $575,000. The Letter of Credit from your bank to your Hong Kong supplier is $460,000. YOU KEEP YOUR PROFIT OF $115,000 ON ONE SHIPMENT. If $115,000 is enough for you, do one deal a year. If you want to make a million dollars, do 9 deals a year. To do 9 similar deals in one year you'll have almost 6 weeks for each deal. Don't forget, if you find a good "gizmo " to buy and sell, you can just keep doing the same thing over and over. Obviously, if the "gizmo" is a good seller for one department store, you can sell it to hundreds of other department stores.
Now, I didn't take the cost of freight into consideration which could be paid by the supplier or the buyer through their own import broker. The same applies to duty. And your bank could charge you some fees for handling the paperwork for the Letter of Credit and the money. But, all this would be deducted from your $115,000 profit. Or, it could be deducted from the buyer's or seller's invoice. Everything is negotiable!
Of course, you are looking for repeat business. If the products you sell to department stores is unique, priced right, and wanted by the store's customers, you can expect to receive repeat orders without doing much.
I know some importers in America who have a line of 3 items that did repeated business for 20 years ... the same items, the same customers (BIG retail chains) ... and making money without much work.
On a future training video I'll explain how you can set up a big operation with zero overhead and still make a ton of money!
What is very important is that you realize the Letter of Credit is being used thousands of times every day. People are successfully using ...
So, I demonstrate to you again that you don't need to use your own money to make a million dollars in one year. What you need to do is change your state of mind, replace laziness with busy-ness, go from a non-believer to a believer, and from a "whiner," - lose that "h" - and become a "winner."
The monetary results mentioned here are the results of hypothetical cases. Your level of success depends on the time you devote to the program, your finances, knowledge, and various skills. Additional factors for success are your will power and perseverance. Since these factors differ according to individuals, Road to Wealth, Inc. cannot guarantee your success or income level. Nor is Road to Wealth, Inc. responsible for any of your actions.
This is one of the most incredible businesses I know. In the book, plenty of time is spent explaining how that business works and how easy it is to get into. My wife, Arlene, and I had many premium items but our best sellers were tiles imported from Holland, manufactured by Blue Delft and Silverplate spoons, bells, and other souvenier items imported from England.
We also had some big customers. We made tiles for Harrah's and Trump Plaza casinos in Atlantic City. It wasn't easy to sell to the casinos. Both Arlene and I, as well as the manufacturers, had to go through a background check before the casinos could buy any merchandise from us. The New Jersey Casino Control Commission had to check up on us (through FBI records) and make sure neither we nor the manufacturers we represented did not have ties to "organized crime." There were pages and pages of forms that had to be filled out. But it was worth it, because we did good business with them. Of course, we also sold our regular giftware lines to them as well as the Tropicana Hotel Casino and Bally's - both in Atlantic City. They sold our products in their gift stores.
We also made a tile for the US Coast Guard. Their tall ship, the Barque Eagle, was going on a tour around the world. They sold thousands of pieces in every port. It is no easy task to sell to the US government. They, too, had forms and all sorts of requirements. However, when they found out that we were an approved vendor for the New Jersey casinos, we were able to cut out a lot of the red tape.
We were not the manufacturers of the merchandise, but all of products were imported. We represented the manufacturers and worked on commission and the re-orders gave us residual income.
Just click on the pictures below to see an enlarged version.
I just recieved the package today! ... it's just what I was looking for to start our import/export business. It's like a manual - a nuts and bolts guide - not a book. It's great!
The U.S. Customs laws and the customs laws of any other country are the same -- they keep changing forms, procedures, etc. It would be next to impossible to keep my book up to date with their bureaucracy. Customs is something you probably won't have to deal with very much since almost everyone uses an Import/Export Broker to handle these details.
Listen, I bought lots of my "competitors" books. After seeing the huge amount of misinformation on the Internet about importing - information products from "gurus" who have no clue about the import business because they never did it. Most of them talk about things you don't need.
From the information I have seen that's available on the import/export business, you will never start ... because nobody tells you HOW to do it! If you listen to some "gurus" who have ZERO experience in the business, you'll lose your shirt. You'll end up with a garage full of unsalable gizmos ... and your kid's college fund and your retirement fund will be gone.
I recently purchased one book in particular that claims to be "Beginners Guide to Importing." I got the shock of a lifetime when I discovered the whole book is about U.S. Customs, entry of goods into the U.S., importer responsibilities, assessment of duty, assigning classification and value, import licenses, and contacts for government agencies.
FRANKLY SPEAKING ...
You don't need any of that information. Zero! In fact, this is the worst information I've ever seen. There is absolutely nothing in the "book" about how to get into the business, with whom to do business, and how to select products. Practically speaking, they recommend everything you don't need.
And then I read a so-called "testimonial" saying ... "Thank you for putting this together. The information is extremely valuable." Please, give me a break - the information is totally useless!
Besides, after reading this whole web site, you'll see that I can prove I am the REAL deal - the REAL McCoy - who has been in the business for almost 40 years. You can be the judge about who really knows the import/export business and who doesn't!
Some gurus try to tell you to go to the ports and pick up your goods. So, here's a brief story - from my personal experience - about doing just that ...
I ordered some Flamenco Dancer dolls from Spain for my toy store. I was testing the merchandise, so I figured a small order should fit in my car, so I went by myself to pick it up.
My instructions were to have the dolls shipped to Port Newark because my business was in New Jersey. But I was told by the manufacturer the dolls were sent to Port New York. (They probably thought I misspelled the name of the port.) So I checked the map and it looked like Port of New York was somewhere on Long Island.
So, I took all the documents, got in my car, and drove to Long Island looking for the port of entry. Little did I know that the New York port of entry is in Newark! So, I head back to Newark and this is what happens ...
The unions control the ports! So, if you need help in finding the Customs office and your shipment, you'll get zero help. After wandering around for a while, I eventually located the right building with the smallest sign you can imagine ... "U.S. Customs." Some bureaucracy, but they cleared my shipment and released it.
Now I had to go back to the longshoremen to find my shipment. They took their time, but finally brought it to me. Another disaster...
The dolls were all packed in wooden crates. Of course, the crates were very heavy and of course, the union people wouldn't help - especially when they found out my car was parked a mile away since I couldn't enter Customs and union territory. And, of course, I had no tools with me for breaking down the crates or else I couldn't fit the merchandise in my car.
Well, the old trick worked. I took a $20 bill out of my wallet and when I showed it in my hand, I was able to get some help breaking down the crates. And it cost me another $20 bill to have it delivered to my car.
I promised myself I would never go to any port for any merchandise ever again! It either comes to my door or I don't want it. And that's when I began to look for an Import/Export Broker. They are worth their weight in gold. A true story.
George provides down to earth, this is what to look for, this is where to find it, and this is what to do with it information. All you have to do is follow the steps ..... George does not use "it just so happens" type scenarios used by others to make their examples work. It's straight forward "do what I do." An outstanding value for all.
In the book, you will find an order form for a trial subscription for your choice of three of the books pictured below. This is worth a lot of money, especially when you learn that Hong Kong Enterprise has between 800 - 1,000 pages of products you can buy. I have been receiving these publications for free for many reasons: a) I am an importer and b) I wrote books about it. I know you will probably want to order all the books. Just remember, the more you see, the more you can get confused. Keep it simple, my friend.
Let me make an important comment here. When I first started with imports in 1972, the world was very different. Hong Kong belonged to Great Britain. The communist countries were ruled by the Soviet Union and we were involved in the "Cold War."
Today much of this has changed. The former communist countries in Eastern Europe are getting involved in capitalistic endeavors. Hong Kong now belongs to communist China. Up to now, neither I nor any one who purchased my book has had a problem obtaining free samples of the product catalogs. If you do encounter a problem, please send me an email and let me know what is happening.
I have seen some very successful manufacturers/importers whose line consisted of only one item. They would ship only full container directly to the stores. It would go to the buyer directly from the pier. Think about it -- no labor, no warehousing, no employees, no overhead. So, don't get confused and think you will need huge warehouse space and lots of employees. It may look very impressive on the surface, but guess who makes more money?!
KEEP IT SIMPLE! This is your "Road to Wealth:" One item or three similar items with different price points delivered directly to your buyer!
Yes, you can start tomorrow. No "ifs," "ands," or "buts." Of course you will have to work hard, at least in the beginning. There may be some bumps along the road to wealth, but this is all part of making money. Besides, you should never have your own money into it.
Even if you think you don't have the ability to select product, my book will teach you how to spot merchandising trends. Even if you think you are the worst salesman in the world, send your samples to the buyer, hire a salesman to call on the buyer, or send your friend to the buyer with the samples. Where there is a will, there is a way. But, from past experience, I found that the product sells itself or it doesn't. Of course, the relationship between the buyer and the sales person is also of utmost importance.
From Rags to Riches in Your Own Import/Export Business is available only through Road to Wealth. You cannot buy it in stores. At this time it is only available through this exclusive offer on the Internet. However, we will be advertising it on TV, the radio, and magazines - again only available through Road to Wealth, Inc. This information is going to be a golden opportunity in the near future to do business via the Internet.
Below is a TESTIMONIAL from one of our customers. This is actually very funny. We started on the Internet in 1996. This was the first order we received within days of launching the web page. We said, "WOW - our first order and it's from Sweden, within days of posting the site!"
I have read your book [How to Start Your Own Import/Export Business] twice, and I'm still reading some chapters over and over again.
Keep the book for the next 30 days. Test it. Use it. You have ZERO risk. If you don't like it, if the information doesn't work for you, or for whatever reason you don't want it, pack it up and send it back in resalable condition. Customer is responsible for return postage. All refunds or credits are for the purchase price excluding shipping/handling charges and a restocking fee of 15%.
You will also receive my personal e-mail address. As long as time allows, I will answer your questions briefly. No whining or doubting. Only positive e-mail which accomplishes something.
I am interested in helping people. I don't think selling books will make me that much richer. The rewarding part is to hear from people who bought my books and made lots of money using what they learned.
Here is what you will learn ...
I strongly suggest you also buy another one of my books, How To Make $1,000,000 a Year As a Manufacturer's Rep. Being a rep and being in the import/export business are very closely related. There are many similarities in both businesses. Since I had to repeat several chapters in both books, I will give you a discount when you purchase both of them. You can read about this book by Clicking Here.
Your books are clearly written and, in detail, explain everything necessary to achieve financial independence ..... I also appreciate the fact that you have shared your knowledge of "how to do the deals.
With Your Purchase of BOTH books ...
You purchase TWO best selling manuals that will create your HOME BASED business you'll get a 10% DISCOUNT on the price of the books AND save on shipping/handling.
And the Mega CD of Products can give you an immediate jumpstart into the import business! You will be able to see almost all products made in China and Hong Kong today. But you can only get this CD with the purchase of the Import/Export AND Manufacturer's Rep books.
This is a limited offer that can expire at any time! So, don't procrastinate. The information is proprietary and nobody else has it! Details below ...
If your job is jeopardy, consider starting your manufacturer's rep business TODAY! You can start tomorrow with no large cash outlay required. This is a HOME BASED BUSINESS ... your kitchen table and phone are all you need! That is exactly how George and Arlene started and went on to develop a business doing millions of dollars in sales.
Purchase BOTH Books ...
When you purchase both of the above books - the import/export AND manufacturer's rep manuals, you'll receive THREE special reports for contacting Embassies and Consulates ... great for importing and exporting ... along with a Free Trade Zone manual.
1. Consular Offices
Both books contain over 700 information-packed pages!
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FROM RAGS TO RICHES IN YOUR OWN IMPORT/EXPORT BUSINESS
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