Mini importation is one of the most lucrative businesses in Nigeria today. However, to be successful at it, you need to have profound knowledge and correct information about how it works. Contrary to popular opinion, you don’t need to have a lot of money before thinking of venturing into mini-importation. With as little as #10,000, you can start your mini-importation business depending on the type of product you want to sell.
Like most Nigerians that want to venture into the business, you have several questions. Is the business lucrative? How can I start mini-importation in Nigeria? Which items will I sell faster in Nigeria?
This article will give you helpful information about the things you need to know about mini-importation and how you can turn it into a profitable business venture.
Let’s get into it!
What is Mini importation?
As the name suggests, mini-importation is a small-scale business venture that involves the importation of goods. It involves the importation of goods from a foreign country at a relatively lower price to resell in Nigeria at a higher price.
Mini importation doesn’t necessarily mean the importation of only mini goods. It all depends on the amount of capital you have at hand.
What Do I Need To Start a Mini Importation Business in Nigeria?
The good news is that everything you need to start a mini-importation business in Nigeria is well within your reach. You can also read this post on how to register a business name in Nigeria.
The following are the basic things you’ll need to get started with mini-importation:
- A good laptop or mobile phone
- Reliable internet connection
- A working ATM card/PayPal account for online transactions
- A valid email address
- A valid contact and address details
- Your business capital
- A platform to buy and sell your goods
Once you’ve put all these in place, you’re good to go with starting your business. it’s not that complicated.
What are The Steps Required To Start A Mini Importation Business?
After getting all the necessary things you need to start your mini-importation business, it is important that you have the correct information on how to go about it. You might end up losing money if you just forge ahead into the business without making the necessary inquiries.
Here’s a step-by-step guide to starting a mini-importation business in Nigeria.
1. Source for products:
After deciding the product you want to start importing for resale, the next thing to do is to source for these products. You can source products on cheap and reliable e-commerce websites.
Most of these websites are usually China-based, although there are other e-commerce websites that are not based in China.
Some of the most popular websites importers use are:
- AliExpress.com
- Alibaba.com
- Amazon.com
- DHGate.com
- Ebay.com
You need to make sure that the products you will be importing are products that are in high demand and will generate sales for you. Don’t just import products you like, rather, invest in products that you know will sell out quickly. For you to know the exact products to import, you need to conduct market research about the products people are buying these days. Also, you need to ensure that the product will generate a high turnover for you.
The following is a list of goods that are commonly imported and are in high demand:
- Electronic gadgets and accessories
- Fashion accessories
- Clothing and apparel
- Hair wigs
- Jewelry
- Cosmetics
- Domestic and office appliances
2. Contact a reliable seller:
After navigating websites to source for your products, you will need to find a seller that you can trust to supply you. A good and trusted supplier is one of the backbones of your importation business.
Since you’ll be doing all these online, finding a reliable seller might be a little bit difficult. Don’t worry, you can find a way around it. You can compare ratings and reviews of different sellers of the same product before making your choice. Take note of ratings, reviews, seller feedback scores, the number of completed sales, shipping options, customer service, and so on.
If you do not want to go through the hassle of looking for a trusted supplier, you can also use sourcing agents or order goods directly from the factory.
3. Order and pay for your products:
This used to be the hindrance to mini importation in the past due to a lack of payment channels.
Thanks to technological advancement, payment is no longer a problem. You can now pay for goods in a foreign country from the comfort of your home using different channels.
Changera is one of those platforms that allows you to pay for goods and services from the comfort of your home.
ESCROW
Escrow also known as buyer’s protection is a measurement put in place by websites to protect buyers and sellers from fraud.
Here’s how it works:
The website holds any payment you make to the supplier until you receive and confirm your order. This way the risk of you not receiving your order reduces and the website can return your money in case your order doesn’t reach you.
This answers your question about the risk involved in making payment to a supplier.
4. Product delivery:
Delivery of goods being imported from overseas comes in two ways:
- Free shipping
Free shipping is the best way to increase your turnover on imported goods. You don’t have to pay the extra cost that might affect your profit margin. The downside to free shipping is that it usually takes a long time for your goods to reach you, usually anytime between 14-60 days.
- Premium shipping
This type of delivery is the one you have to pay for. Premium shipping is usually more expensive, but it has the advantage that your goods will be delivered faster.
Premium shipping is usually done by DHL, EMS, and FedEx.
5. Market and sell your products:
This is the final and most important step in having a successful mini-importation business. You can successfully order products from overseas, but nobody is going to know about your products if you don’t market them to them.
This is the point where your marketing skills and selling platform become very important.
There are many ways to market your products ranging from Facebook marketing to WhatsApp business, Instagram, and so on. You may also choose to advertise your products by word of mouth to people in your geographical area.
Once you’ve got a good customer base, you can then begin selling your products and start making a profit.
Takeaway
If you are a beginner venturing into the mini-importation business, this article was written just for you.
Like any business, there are ups and downs and the beginning might not be sweet. However, with consistency, you’re sure to reap the rewards in the long run. Furthermore, mini-importation is a business that has proven to be lucrative. With the right knowledge about it, you’re on the path to building a good business for yourself.
Also, payment will no longer be a hindrance. This is because Changera is there to make everything easier for you.
Just download the app and create an account. All you have to do is take that one step. Get started now!
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