George GrantEntrepreneur, Artist & Inventor
Bio

Entrepreneurship, Marketing, AI, Robotics, Startups etc. I am the guy people run to when they need crazy ideas and have the balls to realize them. Currently in China. Founder of XS Dolls Ltd., XQUISITE Co., ThirtyTrio Co., Clients: Ducati, Mercedes Benz AMG, Lavazza, Porsche (China), YOHE, HYUNDAI and more. More on LinkedIn



Recent Answers


I am importing designer clothes, glasses and perfumes from China to Europe and can help out with suppliers. The profit margin there is good, however electronics are tough - especially gaming consoles.

Here is why:

Pick a brand that manufactures certain items in China. Ralph Lauren Polo shirts are a good example. You buy them here for roughly $17 a piece from a 'third shift supplier' and then resell them anywhere for $24 or in some countries up to $39. That profit margin makes sense.

With electronics, due to the lower profit margin, you'll make around 3 times the profit of a shirt, however the money used is 10 times higher, demand is lower and in case you end up with a non-paying customer you have more money 'blocked' in storage.

Glasses are good, profit margin is even higher than with clothes, however you will sell seasonally (e.g. in Spring/Summer). I would focus on RayBan, because they are timeless, make good sales and contrary to their advertisements are actually made in China and not in Italy.

And don't make the rookie mistake of buying from alibaba or aliexpress and thinking that you have a good deal - there are much better ones. Or you end up with fake items that get seized in customs.

It's not complicated. If you really want to do this I can walk you through, find you suppliers and answer any questions you might have.

George


My opinion will differ a lot from the others, but I am a angel investor myself and I also have angel investors investing into some of my businesses.

Rule One: Never approach an investor, wait for them to approach you. Trust me, your negotiation power will be multiplied enormously and you will walk away with a much bigger percentage. For example, if someone is approaching me to invest in their business I already know that they really "need" that cash, so that puts me into a very good position where I can easily walk away with a majority stake in the company, especially if it's a small startup. It's a deal with the devil my friend, some investors can be a real PIA. I saw a lot of startups going to hell and founders lose their job when investors raised capital etc etc - it's a dangerous game.

Rule Two: Do you really need an investor? Owning your business 100% is always better than having to reply to difficult questions on a weekly basis from people who are watching your back. It's a lot of pressure, no matter if someone invested 10k or 100k in your business. Sometimes getting a credit from a bank is the much better way to go - at least they don't tell you what to go.

Have a look at Jack Ma - he founded his business (Alibaba) with roughly 3k from family members and look where he is now. Avoid investors at any cost - bring only investors in who can actually help you with your business - that's different.

Cheers,
George


The way I set up one of my businesses (which is in China) is creating a HK company with a company bank account in switzerland. The chinese company is "selling" to the HK company and the HK company is "selling" to the customers.

Since the business itself is not being done in HK, you don't need to pay any income tax. I wanted to have a HK bank account first, however it is very difficult now to get one as a foreigner, no matter how big your company is, hence the swiss account (no personal visit required).

In your case the only additional task would be to add another bank account in Macau, so you can accept RMB and Unionpay payments, however there are ways to simply use a payment processor and avoid this step.

Cheers,
George


Focus on one group first, the easiest entry would be private gynecologists, because SPA's and beauty stores are too overcrowded with other products.

Do A/B testing with different suggested retail prices and see where you end up with in order to form a balanced price. Once that is done focus on retail, but you need feedback-data from the gyno's first.

My steps (just based on what you've written) would be:

1. Make contact with 6 gyno's, medium traffic
2. give each one of them 10 free samples and a suggested retail price (3/3 : A/B)
3. Listen to the feedback after they are being sold
4. Depending on the feedback, adjust the retail price and offer the gyno's a 120-200% margin.
5. Gain more market share in this niche by using the names of your existing clients as peer-pressure (your competitor is buying it, you should have it too etc.)
6. Own the niche before you move on (!)

If the product is selling and gaining popularity you can move on to retail since people will always buy what they already know, or has been recommended by their female friend. However, I would first extend it into different areas, cities and states first using only gyno's. Never underestimate the power of a 'doctor's recommendation'.

Cheers,
George


What I usually use is Upwork, just google it. I am not in any way affiliated with them, but you get any type of work done very fast and it works for me.

I always go with the fixed price option (not the hourly rate), it saves some money. Look for people from Nepal, they are usually cheap, fluent in English and finish the job.

Cheers,
George


Contact on Clarity

$ 3.33 /min

N/A Rating
Schedule a Call

Send Message

Stats

5

Answers
Calls


Access Startup Experts

Connect with over 20,000 Startup Experts to answer your questions.

Learn More

Copyright © 2019 Startups.com LLC. All rights reserved.