Effective business ideas in China that are worth trying
China is one of the leading countries in innovation, technology, and economic development. Many people wonder what kind of business to engage in, where, and how to import goods to achieve similar success similar to this nation. To address these inquiries, On Digitals will help you explore business ideas in China, potential fields, and effective importing strategies.
Why do business in China?
Before delving into business ideas in China, you should know what makes them effective. The answer is made up of three outstanding factors: a diverse market, global usability, and reasonable prices. Doing business in China promises to bring numerous attractive benefits and developmental opportunities to your career path. These details will explain the advantages of doing business in China.
Simplicity in meeting customer demands
In other words, you have a gold mine of opportunities in this goliath of a market. The Chinese market, with a population of 1.4 billion people, showcases a considerable variety in consumer demands. The large population generates various customer groups with different product and service requirements. This presents an opportunity for businesses in China to earn substantial profits.
Diverse styles and designs
Being the world’s second-most populous country, China possesses a substantial domestic consumer demand. This necessitates a wide range of options regarding product designs and features to cater to the domestic market.
In fact, when browsing Chinese social media platforms, the abundance of product variations is evident. For instance, in the fashion industry, there are hundreds of different styles to cater to various customer segments. Similarly, regional-flavored foods and beverages, or domestic cosmetics have gained popularity on numerous e-commerce platforms, including within Vietnam.
Seamless accessibility for shopping
Recently, ordering international products online through e-commerce platforms such as AliExpress, Taobao, Shopee, etc. has become much easier. Furthermore, China is considered the global shipping hub with a well-developed warehouse and logistics system. Exported goods from China only take 3-4 days to reach neighboring countries like Vietnam.
Moreover, Chinese products boast a wide variety of designs with reasonable prices, attracting both domestic and foreign customers. With these advantages, Chinese businesses can easily access and expand their export market share on all scales.
12 current business ideas in China
Many are wondering which field Chinese youth are doing business in to effortlessly recover their investment and generate high profits. Here are 12 highly promising business recommendations for the Chinese market:
Condition-specific meals service business
When ill, people will need to adjust their dietary requirements according to the diagnosis. For instance, patients with high blood pressure should cut down on salty or spicy foods, and those with gout need to limit foods like red meat or seafood. Therefore, family members often need to prepare separate meals for the patients, which can be complex and time-consuming.
Instead of worrying about preparing suitable meals, families or patients can easily order appropriate dishes from condition-specific meal services. The recipes are prepared by nutrition experts and chefs with in-depth knowledge of nutrition and medical conditions. This ensures that patients receive a suitable and nutritious diet.
Pet care service business
Many families consider pets as important members of their households. Not limited to dogs and cats, pets can be fish, birds, rabbits, or turtles. However, due to busy work schedules or vacations, pets may be left without proper care. This is the reason why pet care centers have emerged to meet this demand.
China is no different, pets are getting a lot of love and attention. The trend is highly noticeable as people tend to invest more in taking care of and nurturing their pets. They want to ensure that their pets are well-cared for in a safe environment when they are not present. Therefore, pet-sitting services can fulfill this need by stepping up as a viable option for pet owners.
Nutrition consultation business
China is witnessing an upward trend in the importance of nutritionists. As they are increasingly aware of nutrition and health, people pay much more attention to balanced and healthy eating.
Most notably, individuals attempting weight loss face tremendous difficulties, as they worry that consuming calorie-rich foods might disrupt their process. This is one of the fields where the guidance of a nutritionist becomes essential in constructing a suitable diet plan.
Baby food restaurant business
The developed economy of China requires many families to have both parents working. This leads to families not having enough time and knowledge to prepare proper meals for their children. Developing a form of baby food restaurant provides a convenient and reliable alternative.
Some key points to consider for a successful weaning restaurant:
- Delivery service must ensure timely arrivals of meals.
- Food should be kept at the right temperature, neither too hot nor too cold.
- The restaurant’s ambiance should exude warmth, with furnishings like tables and chairs creating a sense of safety for babies.
- Comfortable space arrangement tailored to young children is important.
- Avoid excessive use of spices and oil.
- Adhere to hygiene and food safety standards.
Fashion business in China
The fashion industry is a highly profitable sector that attracts numerous business owners. Clothing produced in China possesses diverse and trendy characteristics with easily accessible sources and reasonable prices. As a result, it appeals to a wide range of consumers in the market.
Furthermore, online shopping platforms like Alibaba and JD.com have opened many doors for clothing businesses to reach customers online. With these outstanding aspects, fashion can undoubtedly bring substantial profits. However, there is also fierce competition due to the sheer popularity of the industry.
This idea goes hand in hand with the development of the fashion industry. The public has devoted significant attention to not only clothing but also accessories such as shoes, bags, hats, jewelry, watches, etc. This makes the complementary elements of an outfit become a potential market for businesses.
Especially, the emergence of new and unique designs has created a captivating allure. This is also one of the business ideas that has captured the interest of numerous young individuals in China.
Domestic cosmetics business
Chinese cosmetics business is currently one of the leading business methods in the country. Thanks to a large consumer base, government incentives, and improving product quality and value, the industry is thriving. Additionally, the preference for domestic products of consumers elevates the sector to a very promising status.
Chinese snacks have become one of the hottest products in business recently. With its diversity, deliciousness, affordability, and convenience, these snacks are attracting an increasing number of potential customers. Specifically, the unique Chinese flavors also stimulate curiosity and encourage purchases.
Its low operational costs and the potential to increase the value of orders through delivery fees are the main elements behind its unparalleled potential.
Electronic devices business
China is a widely known hub for manufacturing electronic components and equipment, owing to reasonable costs and proficiency of advanced technologies. This has raised the appeal and competitiveness of the country’s electronics products in the international market.
Recently, consumers have realized that Chinese electronic products are way more affordable compared to Japan, South Korea, and the US. However, the price tag does not inferiority in quality. Chinese electronics offer modern and intelligent features on the same level as other well-known brands. These all contribute to the potential of the electronic devices business.
Office supplies or stationeries constitute a diverse product category, including paper, pens, ink, folders, mail items, files, and much more. These items are indispensable in offices and classes. As a result, they are always in demand without being influenced by economic or technological conditions.
The ideal target consumers primarily consist of students, government agencies, and businesses. Given their variety and stability, the office supplies business is considered a safe and profitable investment.
Interior furniture business
As life quality increases, so does people’s desire to improve other aspects that would be overlooked. Customers are spending more time and money on creating aesthetically pleasing and high-quality living and working spaces. The business opens a window of opportunity to enter the Chinese market without contending with much competition.
China is one of the leading suppliers of the global furniture industry, with an abundance of products and designs available. Leveraging the supply from China lets you offer customers a variety of meticulous and cost-effective products.
3 Ways to Import Goods for Business from China
If you are lacking practical experience with importing goods from China, this section is for you. On Digitals will share three effective methods to import goods from China, helping you find quality sources without going over your budget.
Importing goods from wholesale markets
The first source worth considering are wholesale markets such as Dong Xuan, Ninh Hiep, Mong Cai, and Tan Thanh in the Northern region. Alternatively, the Southern region is home to multiple reputable wholesalers like Binh Dien, Binh Tay, Cho Lon, and Hanh Thong Tay.
Sourcing products from these markets comes with transportation advantages, as you do not have to worry about traveling back and forth between China and Vietnam. However, it is important to note that prices at wholesale markets are usually higher than obtaining directly from China.
Obtaining goods directly from China
Lấy hàng trực tiếp tại Trung Quốc là một trong những cách phổ biến và được nhiều người sử dụng. Để nhập hàng từ Trung Quốc, bạn cần có kế hoạch rõ ràng về sản phẩm, nắm rõ số lượng bao nhiêu, vốn và địa điểm nhập hàng ở đâu. Ngoài ra, cũng cần phải tìm nhà cung cấp đáng tin cậy, lên lịch chuyến đi và đảm bảo tuân thủ quy định nhập khẩu.
At first mention, this may seem like a bit of a hassle, but it is actually one of the widely used methods. To import goods from China, you need a clear plan about the products, the quantity you need, the required budget, and the location where you will receive the goods. Additionally, your supplier, trip schedules, and compliance with import regulations are of the utmost importance as violations can lead to major repercussions for you and your business.
Importing through intermediaries
With this method, you can utilize intermediary services to carry out the purchasing, payment, and shipping of goods to Vietnam. Through e-commerce platforms like Alibaba, Taobao, and Tmall, you can place orders and contact intermediary units to assist in completing transactions as well as the shipping process.
FAQs about business in China
What to note when doing business with Chinese goods?
- Research the market and competitors before establishing your business.
- Choose reliable and reputable suppliers.
- Inspect the goods quality before exporting.
- Manage contracts and terms carefully.
- Consider copyright and intellectual property issues.
- Handle customs and import taxes.
- Build a high-quality customer care system.
- Monitor trends and changes related to Chinese goods.
What are the risks of doing business with Chinese goods?
There are several risks to be aware of when trading Chinese goods. In business, risks are inevitable, but you can mitigate these risks with thorough preparation.
- Product quality: Some suppliers might falsify the promised goods quality, which may cost you your reputation and customer trust. Subsequent effects can also be financial loss, missing goods, or excessive time and effort dedicated to resolve disputes.
- Financial transaction: When dealing with Chinese suppliers, transaction-related risks can arise. Transferring money across borders or using unreliable payment methods could result in financial losses or security risks related to personal information.
- Customs and tax management: Regulations and import taxes can be complex since they are subject to constant changes. Failure to comply with policies and regulations could lead to delays, higher costs, or penalties from authorities.
Through this article, On Digitals hope that you can single out a suitable and successful business ideas in China. Stay updated with our website for the latest information about ongoing development in Vietnamese and international markets.