To Start Importation Business in Nigeria is a gold mine, booming and very yielding. Nigerians are now taking advantage of one of the most flourishing business activity which gives so much in return for just little invested into it.
You simply buy something (for example Mobile phones, shoes, accessories etc) at a low price and sell them at a higher price to make a profit.
The profit you make in this business is exclusively dependent on the kinds of products you ordered and their price ranges.
Sadly, those who are already doing this business still lack some rudimentary knowledge on how to run the business effectively for enough success.
This article nonetheless will expose you to the easy way to start importation business in Nigeria. It is without doubt that this is the best information in this kind of time when catering for one’s enormous needs and being broke are the worst feelings ever; then, having another stream of income plus the need to achieve one’s goal of financial independence by starting a business becomes imperative, but who can afford that without a huge startup capital given the competition which pervades the Nigerian economy?
I will therefore share with you what will make you become a millionaire in a matter of months and multimillionaire in matter of years with just a cash as little as you can ever imagine.
Requirements for Importation Business.
Before you think of obtaining the knowledge about the idea of starting importation business in Nigeria, there are things you need to have to help you truly prepare for it. These are:
- Laptop/Desktop/Tablet/Mobile Phone
- Internet Access
- ATM Card: MasterCard or VISA Card
- Some Cash (depending on your choice of products)
- An Email Address
- An Appropriate Physical location (to receive your products)
With the above listed items, you can start your mini importation business in Nigeria and blossom in a matter of months in the comfort of your room.
What does Importation Business mean?
Importation business as the name implies is simply an financial activity of importing products outside the shores of this country, bring them into this country, and sell them to local consumers for profit.
This business requires that you find a way to buy your products at a lower price or look for customers who will buy them at a higher price. In other words, it is to always ensure that you buy at a cheaper price and sell it at a much higher price to make reasonable profits.
Easiest Way to Start Importation Business in Nigeria.
Right here are the easy ways to establish yourself in the importation in Nigeria:
A. Start out as a newbie
Starting importation business in Nigeria with all that is previously said does not of a necessity mean it is all about small importation. It all depends on the size of your pocket though. The amazing thing here however is that there is no limit to the amount of money you can invest. Whatever the amount of money you invest to import goods, you will surely resell it to make over 200% in pure profits even as a newbie in the business. Trust me, there is serious money to be made and people already in it are enjoying from this financial activity.
B. Get an International Supplier Online
First thing to consider is how to locate your source for products to be sold. It is no longer news that 80% of the world’s products today are being manufactured in the Asian continent particularly China, Hong Kong, and Japan. Starting from Cars, Phones, Laptops, Toys, computers, home appliances, kitchen utensils, etc are made in China.
China is the number one source of all the hot-selling and fast-moving consumer products you know. She is one of the cheapest manufacturers in the world because of its low labour and production costs. As a result, many of the big brands that you know such as Apple, HP, Techno, Infinix, etc., make their products through factories and contractors based in China.
Countries like the US and various European countries ensure that products coming from China to these countries do not compromise in terms of quality because they set very strict standards which the Chinese usually adhere to. You can even verify this by taking an inventory of all the things around you right now. It will amaze you to see that consciously or unconsciously out of every 10 products or items in your house 7 is made in China.
So you most probably will get your supplier from that part of the world.
C. Buy from a Reliable Website With Highly Demanded Products
Avoiding getting scammed and the problem are serious challenges that anyone deciding to go into the importation business are grievously faced with. More simply, I have garnered the list of trusted websites from which you can buy some of these products without the fear of being scammed. The following websites are the most sought after, and they are the most popular affordable online marketplace that sell products at low wholesale prices:
ALiEXPRESS is the China-based destination for small-scale importers that you can get to buy cheap Accessories, Mobile Phones, Computer Hardware & Software, Electronics, Health & Beauty, Bags & Cases, Watches & Jewellery and much more at wholesale prices. It has more than 10 million exceptional consumer products and more than 20 major product categories. It buyers base is in more than 220 countries around the world.
AliExpress is one of the subsidiaries of the Alibaba Group which dominates internet-based commerce in China and was launched in 2010 as an online retail service made upof mostly small sellers offering products to online buyers.
AMAZON is a great online store that have stood the test of time and you cannot afford to leave it behind when we are talking about the online shopping website. This is an American based website that has been in operation since 1995. It allows users to submit reviews of each product by rating them from one to five stars. You can check the website to see it yourself.
DH GATE is a business-to-business e-commerce website that facilitates the sale of manufactured products from small and medium enterprises to buyers.
The website is a fast trading marketplace where users can order Chinese-manufactured products directly through the site. The company has been in business since 2004 and is backed by investors KPCB, JAFCO and Warburg Pincus.
EVERBUYING is a leading China wholesale online shopping portal specializing in electronics and contemporary fashion, including android smartphones, android tablets, cellphone accessories, computer accessories, mobile power banks, gadgets, consumer electronics, home decorations, men’s clothing, and women’s fashion at cheap prices with free shipping.
With more than 250,000 cheap products for the global market encompassing the very latest in top-quality electronics and fashion.
There are many more, but these are assured for now.
D. Pay for your products
Payment has been made easy through online payment gateways.
All the websites we mentioned above accept payment through a wide range of channels. You can do a bank transfer or pay with a credit/debit card. The same card you use at the ATMs machine can be used to make purchases on these websites. Just make sure your bank account is sufficiently funded so you can make payments. Fast and easy! No banks or long processes involved.
E. Get your Products Delivered
There are several ways for product delivery. You may decide to use the free shipping options, or delivery services companies.
Also, note that some of the products on these websites have free shipping options to many countries around the world just that the delivery time is always longer.
Free shipping is often delivered through China Mail Air Post or Hong Kong Mail services. While delivery companies include DHL, EMS, FedEx, Chrisvicmall, SAF Marine, China Shipping, Cosco, Nonikings, etc.
Shipping methods will depend on the volume of the goods from the suppliers. The international freight companies always assist in choosing the best shipping method in consideration of cost and time of delivery.
Air freight forwarding is best when the importer can afford the cost and the time for delivery will be fast. Sea cargo shipping cost is based on per cubic meters of goods.
F. Market your Products and Make Money
Ensure to chat with fellow sellers in the business to know their selling costs before embarking on marketing your own products. You can start by messaging them about your interest on a certain product then ask if the product is still available, ask about the price and delivery duration. All these will help you decide on the pricing system that will give you an edge far above how much you sell faster than them.
The Social Media handles are better platforms to drive your items to attract customers enough to the point of sales. It is advisable that you import small quantity of the products for a start to be able to show and sell them around your neighbourhood, your friends, colleagues, and also display them on Twitter, LinkedIn, Facebook, Instagram, Pinterest etc. As more people become interested in your products then you can increase the quantity of your subsequent purchase.
Sometimes you might even get to sell your products before they arrive if you follow the strategies outlined above.
Conclusion
Ensure you start with products that cost very little but are very high in demand in your locality. You can use it to test the viability of this business idea and grow your confidence.
Never let the excitement of your new found importation business in Nigeria get the better of you. You must avoid the temptation of investing heavily at first unless you already have ready buyers for your products.
