Are you trying to hire a sourcing agency in Asia? There are many benefits of working with a sourcing agent to help brands connect with international suppliers. However, before you hire a Sourcing agency Asia, you should be aware of the common problems with Sourcing agencies.
Many companies are confused by the pricing structure that a sourcing agency offers. Some questions, such as how much it will cost or how much commission I have to pay, may arise in your mind when you start thinking about hiring a Sourcing agency in Asia. To understand how it works, you must know what you get from the agency and how much it costs.
How Much Does It Cost?
The fees of Sourcing Agency Asia depend on what is included in your contract with the company, but there are a few things to keep in mind. Most agencies charge a consultation fee when they first meet with you for a potential project.
This consultation fee is usually $500 per hour, with a minimum of 2 hours. In addition, if the project is awarded to them, most agencies charge an ongoing monthly retainer fee that can be anywhere between $2,000 and $5,000 depending on the size of your business. There may also be additional costs related to specific tasks.
What Do You Get?
Most sourcing agency Asia provides a range of services, including market research, product development, factory selection, and even shipping/freight forwarding. The actual list of responsibilities may depend on the industry you are in.
Sourcing agencies also provide different inspection stages to make sure that your products reach consumers in a good state. Some of the most common things they do are:
Inspection before shipping
Inspection after factory acceptance inspection
Inspection in destination country when the products arrive at customers’ hands from factory
Inspection after customer’s complaint
Finally is quality control inspection, also known as “onsite inspection”
When you are trying to hire a Sourcing agency in Asia, you should understand the different inspection stages. This way, it will be easier for you to plan what you need and how much it will cost in total. This is not just about finding the right manufacturer or factory to meet your requirements. They also provide market research and promote your products in the right channel. That is why it will benefit you if you hire a sourcing agency, so your products can reach your customers faster and more effectively.
To find the best Sourcing Agency in Asia for your business, you should define what you need from them, or it may cost more than expected.