An essential first step to improving profitability is to step back from the day to day business and analyse the activities and financial accounts from a third party perspective. Accurate and up to date accounting records are a prerequisite to the options available since the accounting records place a value on the trading history.
If financial records are not up to date the next step would be update the financial accounts by either manually recording the transactions or using accounting software to produce the financial accounts. For small businesses this is often a problem as accounts are often left until the last minute and produced for tax purposes. Simple bookkeeping spreadsheets are adequate for many small businesses while medium sized businesses may adopt more sophisticated accounting software packages.
List the strengths and weaknesses of the business examining each activity from sales and purchasing, running costs, employees and financial control. Use the financial accounts to place values on the different business activity areas. This list should be as detailed and extensive as possible as it is through this listing that plans of action will be developed and emerge as a business plan.
Profile
- Base Location: Shenzhen // China
- Registration Fee: None
- Minimum Order: None
- Payment Options: Paypal, Bank Wire Transfer
- Shipping Options: DHL, UPS, FedEx, EML (*includes international)
- Return Policy: Yes (*12 month warranty)
- Validity: McAfee Secure, Verisign, ValidatedSite
Products
- Quantity: 1100+
- Unit Pricing: $1.00 – $569.38
- Package Sizes: Individual Items
- Category: Electronics
Ratings
- Overall Impression (8.4/10) * Great
- Product Prices (9/10)
- Product Quality (9/10)
- Product Quantity (7/10)
- Reliability of Service (9/10)
- Impression of Website (8/10)
Review
Chinavasion is a dropship supplier of electronics. As the name mentions, the company is based in China. However, the website guarantees safety of buy/sell transactions, backing their claims with a 12 month warranty on all items. That’s quite impressive, really; I have yet to come across another dropship or wholesale provider with that kind of guarantee. The only considerable flaw of this location is that the shipping charges tend to be rather high. Depending on the item being sold, however, this may or may not make a large impact on your sales potential.
The best aspects of this company are its prices and its safety/satisfaction guarantees. As I’ve mentioned before, there’s a great 12-month warranty on all items and security measures for safe monetary transactions. Also, the normal pricing of items are already relatively low, and there is cheaper unit pricing when buying a larger quantity of items (as usual for wholesale), but this company offers even great … but you’ll need to keep an eye on the shipping costs. All things considered, though, Chinavasion appears to be a trustworthy and profitable wholesale/dropship provider.
The integrity of the website is confirmed by McAfee Secure, Verisign, and ValidatedSite.
Wholesale Review blog, Internet Marketing Advice
Also learn how to write a grant to get personal money or money for the business.
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