Small products import at startups is an very good idea , it would help you to learn the chain for your export business in future.
Following precautions you must take while doing small import.
-> Best Sourcing place for small import is Alibaba.
-> Find unique / new products which are not available much in the market
-> Get an IEC Code in advance & import only under that name via www.dgft.gov.in & GST via www.gst.gov.in to avail ITC [Input Tax Credit] on IGST paid at the time of Imports.
-> Make sure supplier is Gold suppliers in Alibaba, you will see a gold coin Signe
-> Make sure supplier must have an trade assurance, you will find a crown yellow symbol i.e Alibaba takes the personal guarantee of goods & quality & your money would be refunded if no goods arrive or arrival with damage.
-> Always do payment via Alibaba online payment method (avoid direct TT via bank for small imports)
-> Make sure you import it under CIF terms , so your shipment includes cost, insurance & freight. Or DDP shipment of too small to be done via courier you receive at your home.
-> Always ask & check Proforma Invoice (PI - Quotation) before you import. Only after receiving PI via email / Alibaba app , pay via Alibaba link with trade assurance.
-> Better then Amazon & Flipkart, OLX also trigger many sales. Selling in OLX requires nothing not even GST Code, you can import some unique wrist watch in very small quantities without IEC via courier & can post it's pic on OLX & it works many time for unique products.
-> Keep on increasing the QTY, it would reduce your per unit cost.
-> Feel free to contact with Kishan Barai Sir for any help via WhatsApp or email.