Today you will learn how to start a mini importation business in Nigeria. This article is suitable for everyone new to the industry.
The mini importation business can fetch you the kind of money you have been dreaming of making if done properly.
Like every other business, you will need to understand how kinds of stuff work before jumping into it.
So this article will teach you how to start a mini importation business in Nigeria today. At the end of this article, you should be thinking of making profits through this business.
About Mini Importation Business
The word ‘importation’ shouldn’t be new to you as it means transporting goods from foreign countries down to your home country. While ‘mini’ literarily means small.
Therefore, mini importation is the transporting of goods from foreign companies to your home country in small quantities.
The business involves sourcing out very cheap goods from countries like China and selling them at a standard rate to make profits. In some cases, you are likely to make 10x of the money you spent as a profit.
Therefore, it is one of the most profitable businesses in Nigeria today.
How to Start a Mini Importation Business in Nigeria?
You only need to start up with cash or small capital, and access to the internet to get started with this business. This business is one that does not require you to travel a long distance before getting right. Everything can be handled in your comfort zone.
Below are steps to start a mini importation business in Nigeria;
Chose a Niche
This step is one of the most crucial steps to take when starting a mini importation business in Nigeria. There are many sellable products that you can import down here, but the truth is that you can’t sell everything.
It would be best if you had an area you prefer to handle, and that will be called your niche. Choosing a place will help you build your brand easily and improve your expertise.
Meanwhile, there are some factors to consider before making your niche choice. Among them are as shown below;
- The niche products must be hot in demand.
- They must be affordable.
- The products must be lightly weighted to cut the shipping fee.
- You should have a basic knowledge of the niche.
- Consider choosing an evergreen niche.
Examples of niches that have hot in-demand products include; beauty, tech, health, and many more. Just ensure that those factors mentioned above are considered.
Source for Products
This step is a no-skip step because you must source for the product that you wish to import. There so many platforms where this can be done, and some of them include;
To source for products, you need to understand the interface of the website that you are using. When doing this, you need to watch out for genuine suppliers to don’t fall for scammers.
Like I said earlier, you shouldn’t forget to go for light weighted and hot selling products.
Contact Your Supplier
When you have finally concluded on the product you wish to import down to Nigeria, you will need to contact the supplier to negotiate the price.
The suppliers’ contact should be displayed with the product you are buying on the website.
In a situation where you are buying from a Chinese website like 1688, you will need an agent who speaks both languages to help you out.
1668 seems to have the cheapest products among other websites. Therefore, you must need the service of an agent to enjoy the platform.
The payment is the only guarantee that your goods will get to you. So you should plan your budget properly.
Unlike before, when payment used to be a major challenge, today, you can easily make payments using your debit card.
Meanwhile, the supplier may accept other payment methods like PayPal, direct bank deposits, and others.
Remember to include the shipping fees in your budget and agent fee when necessary.
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Importation of Good
Having settled the payment, you will need to move your products down to Nigeria. There are a lot of logistic companies online to choose from. Such as MSC, ShopToMyDoor, etc. These companies are in charge of shipping your products down to Nigeria.
Immediately it has landed, you can waybill it to your desired location. Although this may cause you an extra fee, it will save you a lot of stress.
Calculate your Expenses
Even if this must have been planned, there are situations where things don’t work out as planned. So you should ensure you figure out your actual expenses. This calculation will guide you in predicting your profit/loss after sales of the products.
Market and Sell Your Products
A bad product that is well marketed will make more sales than a good product that is poorly advertised. This step implies that marketing plays a crucial role when it comes to making more sales.
There are both free and paid ways to market your products. But the difference is that the paid method saves a lot of stress.
Meanwhile, some common paid methods of marketing your products include; FB ads, Google ads, Instagram ads, and others, while some organic methods include; sharing to social media groups, posting on your FB and WhatsApp status, doing search engine optimization, and many more.
Therefore, ensure you engage yourself with the most suitable marketing strategies for your products.
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Mini importation is a very profitable business that can make you a lot of money in no time. So, I will advise that you master your marketing techniques before starting the business. It will boost your sales.
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