I know you must have heard about mini importation business in Nigeria but just don’t know how to get started with it. Here is a perfect guide for you to read.
The act of buying and selling is not only for the rich even, an amateur can start up some business with no or little capital, grow gradually and make ends meet.
Having a good mindset on what you really need and following it by taking a bold step is most times what you really need. Actually, you don’t need to break the bank before you can start up something.
What is Mini Importation?
“Mini” denotes small. “Importation” is the bringing of goods or services into a country from another country for sale.
Mini importation is a small scale importation business where an individual with little capital or start-up, can buy goods from aboard like China at a cheaper rate and sell at a higher rate.
However, it does not necessarily mean “small importation”, it depends on the size of your pocket.
Mini Importation Business in Nigeria
Start mini importation business with N5 million in Nigeria, resell and make 200% profits. With 10,000 naira, make 40,000.
How Do i Start Mini Importation
If you have been wishing to start importing from China but peoples around you have cajoled you, maybe you think you don’t have all it takes to buy from abroad.
Have no fear, you can do it. You can start with 10,000 naira and smile impressively. Most importantly, when you want to start your business, I advise you go for HOT products.
All you need is the basic information and getting things done the right way. A product that worth around 33 Yuan (that is N200) could be sold for N15,000 in Nigeria.
Imagine the profit, isn’t that lots of money. Imagine you selling it times ten (X10) in a day, your happiness will know no bound.
What Do i Need to Start This Business
This is what most people ask and this article will clear that.
Actually, it is not what you have not seen or heard. Even if you don’t have them, you can easily acquire them.
- Your capital what you intend to start the business with. It has no limitation, with 10k you are good to go.
- A mobile phone or personal computer.
- You must have fast internet network —– WIFI, Modern e.t.c.
- An email address.
- Valid home address where your items will be delivered.
- Open a US bank account with payoneer (it is free).
- You can get a PayPal account to buy your products.
The most interesting part of this business is that it requires no office, less stress, saves time etc.
It can be done from the comfort of your home, 90% of it all can be done using your mobile phone. If you call it an internet business you are not mistaken.
With the above listed things, you can start your mini importation through effective marketing, you can have orders of goods, even the ones you are yet to buy (preorder) and sell, making cool cash monthly.
Isn’t that cool?
Having came this far and your mind is made up to start the business, here is a step by step guide on how you can make your dreams come through.
1.) Source for Products
Yes china is the number one source for hot and fast selling products around the world.
They are known as international manufacturers.
You must have heard people say China products are inferior.
Let me tell you, if only Nigeria government can place a ban on the importation of fake/inferior goods, China produces quality goods.
Most of your devices are coupled in China, your phones, generators, freezers even the popular Apple products are from china.
How then can I source for my products?
There are some popular, trusted China based websites that you can buy from. They are: Aliexpress, Alibaba and DHgate.
Having known this, go over to any of the websites and create an account with them. Make sure you confirm your registration.
What’s on your mind now? You can do it, it’s no big deal.
If you can create your Facebook account, then, you should be able to create one with any of them, stress free.
Once you have registered, browse around the websites and look for products you can buy and resell in Nigeria
2.) Buy from Reliable Suppliers
This is the most importation part. You should beware of suppliers that ship inferior products to their customers.
Before you select your products and make a purchase, ensure you check the feedback score and rating for that supplier.
Read the customer and reviews on the products you want to buy, check if the supplier delivers when due. The ratings are between 0-100% and 0-5 stars.
I advice you go for 90% and above rating and at least a 4-Star reviews. The feedback rating and reviews is a powerful measure that protects customers from buying inferior products, it filters the bad from the good suppliers.
More so, go through the products description, delivery methods (free shipping is good but requires patience), check the sellers guarantee too.
All these are usually at the bottom of every products page.
3.) Paying for your Products
This was a major problem year back, but thanks to the internet that made everything to be easy.
Mode of payment differs with each supplier. A supplier might prefer Mastercard to visa card while another might want it through PayPal or Alipay.
Whichever channels each prefers, the most important thing is that you know how to pay and start your mini importation business.
Afraid of fraudster or scammers?
It is normal to nurse some fears but that is why we have escrow services. The escrow or buyers protection is a measurement created by the website to protect both the buyer and seller.
Once you have selected the products you want to ship and you pay, the website will hold the money until you confirm the goods to be what you purchased then the money will be released.
If on the other hand what you received isn’t what you ordered, you will have to fill “dispute form” and your money will be reimbursed.
Always bear in mind, no business is 100% risk free, but there are always a means of getting it right.
4.) Delivering of Product
It could be done either in two ways:
- Free shipping. This helps to increase profit only if you can wait for about 14 to 60 days. It could be delivered within a month. The service company can be Airport or China mail service.
- Premium delivery. They are usually done by fedEX, EMS and DHL. It cost more than free shipping but delivers faster and safer. Usually between 3-5 days.
Note this free shipping may be free but tracking it is always difficult compared to premium delivery.
I you are using that option, don’t forget to drop your phone number with them so that they can call you when your goods arrive at their post office close to you.
If you want to save more money, then do the following:
- Avoid excess packaging. Delivery on premium goods are weighed and usually charged depending on the weight and size of products. Avoid unnecessary packages when next you want to do some shipment.
- Since you have known that fast delivery calls for more money while the slow delivery reduces cost, if you have not gotten pre-orders, why not mess around with time and save more money. It depends on you to choose either free shipping or premium shipping.
It is one thing to order your products successfully and it is another thing to successfully sell them. People will patronize you only if you bring it to them.
How then can you tell the people that you have some products for sell?
There are so many ways you could market your goods. This includes brick and mortar retail, referrals, word of mouth, internet marketing, magazines and newspaper, handbills e.t.c.
Having mentioned these avenues, internet marketing is the most profitable now and I suggest you go by that.
Facebook is a good platform for marketing your products you can also market your products in your Whatsapp Status and through Facebook ads.
Your marketing strategy is what will determine the amount of traffic you see.
You can use courier agents like Skynet, Kos.ng, Courier Plus or any other logistic companies and firms in Nigeria.
Some of them are free while some requires some certain fee to get started.
Never forget that every business has its up’s and down’s and that it takes a step to start a thousand mile.
It is equally as lucrative as other businesses such as fish farming and even exportation of goods and services outside of Nigeria.
In your quest for financial and time freedom, consider starting mini importation business in Nigeria because it’s one of the most lucrative businesses you can operate in the country at the moment.