Unbeknownst to some, APAC sourcing is not just for large corporations. Individuals and small businesses also can take advantage of the huge cost savings that come with sourcing products in China and the Asia Pacific region. Some of the most creative, exciting sourcing projects that Avela Corp. has overseen have involved sourcing for inventors and individuals seeking to take their ideas from concept to reality.
Regardless of how far along you are in your creative process — napkin sketch, drawing, or working prototype —Avela will work with you every step of the way to bring your product idea to fruition. You can be confident that the final product you will hold in your hands will have been subject to stringent quality and safety checks, and will be a product you will be proud of.
Because the most critical consideration in China and APAC sourcing is determining the viability of a project, the first step in determining if your idea is a suitable candidate is for you to create a business plan. Your business plan should outline the market need for your idea, identify feasible distribution channels, and include a budget that takes into account all aspects of bringing your product to market and sets break-even and profitability timelines.
Once Avela is confident that your project is viable, we will work with you to bring it from concept to reality, typically on a pay-as-we-go basis. While each project is different, following is a timeline of what you can expect. We will communicate with you about the fees involved for each step; once we receive payment, for a particular phase of your project, we will carry out that phase.
- First, our team of sourcing specialists will source the ideal factory for your product,
- Then we will come up with a budget for the project,
- Next we will work on engineering how your product will be made, with a focus on maximizing quality and minimizing cost,
- We will then create a working prototype for you to evaluate,
- We will then produce a limited number of samples, and
- Finally we will produce the quantity that you desire and ship the items wherever you specify.
This pay-as-you-go approach to APAC sourcing is especially popular with individuals and small businesses, who have limited capital, and who often are working to secure funding at the same time the sourcing project is moving forward.
Of course, Avela is happy to work with inventors who have ample funding in place to pay a lump sum to carry out all phases of the project in tandem. While that approach requires that an inventor has access to ample cash flow, it yields a much quicker turn-around time and cost savings over the span of the entire project.
If you are an inventor or individual with an idea that you want to bring to market, and you need a pay-as-you-go financing option, we encourage you to contact us. If we see a good fit and a viable path forward, we will be happy to guide you through the process and help you achieve your goals.
