Are you a student looking to start a business that allows you to still study and maintain your points in school? Mini importation business in Nigeria can help you do that.
Or you are already a worker looking to for a side hustle to have an extra income?
You might also be unemployed and looking for a business to start and earn a living. That is probably the reason you are reading this blog post.
I promise I will do justice to this post today, giving you all the details you need to start the mini-importation business.
Importation of goods from china and other parts of the world is becoming easier with the help of the internet.
In this article on importation business, we will focus on importation of goods from china and a little from other parts of the world.
Mini importation in Nigeria
In today’s post we will focus on mini importation in Nigeria.
Gone are the days when only the millionaires and billionaires are the ones who import things into the country.
Today with mini importation it is possible for everyone who wants to start importing to do so. Thanks to internet.
In this article I will show you the steps to follow and get your goods down to where you want it and which kind of products to import.
Mini importation is not just a business you jump into just like that. You need the right knowledge to be able to import and start making money.
So many people have lost their money in the process of importing goods from china and other countries.
You need to put the necessary hard work to be able to succeed in this business. I will show you the way in this article.
What is Mini importation?
In a previous article, businesses you can start with less than $100, I defined mini importation this way: Mini-importation involves the importation of goods from another country to your home country on a small-scale and sale to gain profit.
As the name implies mini importation involves the importation of goods on a small scale. With just
N20,000 you can start mini importation in Nigeria.
With such small amount you can make double of it when you import your goods and make a good sale.
Tools needed to start mini importation
Every business has tools needed for it to be able to be made.
Mini importation is no exception. You need the right tools to be able to start a successful mini importation in Nigeria.
Tools needed to start mini importation in Nigeria
To conduct a successful mini-importation business in Nigeria you need the following tools:
- A Personal Computer (PC) or a Mobile phone.
- A reliable internet connection
- A valid email address
- A physical address where your goods will be sent to.
- Your start-up capital
- A valid master or visa card of any of the Nigerian banks.
Once you have these six tools in place, you are good to go on the mini importation business. You can a place an order and your goods will be delivered to you. As simple as that.
Why you should go into mini importation
There are many advantageous reasons why you should go into mini importation.
- Mini-importation will serve as a side hustle to you while work on your normal jobs.
- The profit in mini importation is very high. Some people make up to 100% profit on every importation. This means that you can make more than your monthly income in just one importation.
- You can get cheaper products if you have the necessary skills an entrepreneur needs.
- You can reach your financial goals in a very short time, in a legitimate way.
Step by step guide to mini importation in Nigeria
In this section I will show the steps to take to import your first product into Nigeria and you can repeat to import again and again and again though other need to be taken once.
- Get your business registered: The first thing to consider in mini importation in Nigeria is get your business registered with the Cooperate Affairs Commission (CAC).
The registration costs about twenty thousand naira.
The reason for this that people in Nigeria trust businesses that are registered with the CAC because they know that if you cheat them they have a place to go and report.
It is not the first step to starting mini importation in Nigeria though. You can start without registering name but make sure you do as your business grows.
find a reliable import portal
The second step to starting a mini importation business in Nigeria is to look for a reliable import portal.
Import portals are the website you buy your products from.
Just like jumia in Nigeria. Jumia is portal but not an import portal because you don’t import goods with it from other countries.
Be careful when choosing the import portals because some portals pose as import portal but will only scam you at the end of the day. You will order for a product and wait till they kingdom come…….lol.
Possibility is also high that you will choose a website with high prices which affect your profit margin. This step is very importation and should be taken with care.
Also read: Six business Killers you should avoid
Before choosing am import portal make sure you check the review on the site and rating of the site. Rating is from 0-5 stars for most sites. Choose site with higher rating.
The most popular import portals used by Nigerians are:
1688 is the cheapest among them. The problem with 1688 is that is written in Chinese but you can use Google translation to translate it to the language of your choice on the list.
1688 don’t export products out of china but you can have a virtual store in china where your products can be delivered to before they are sent to Nigeria.
- Search for products
After choosing your import portals, the next thing is to starting sourcing for products on the site.
There are many goods on the sites and cheap. It can be confusing which products to buy.
Also read: Steps to writing a business proposal
Select the products based on your target market.
There some factors one has to look into before buying products for importation.
Factors to consider before buying products
- Know your market: Know who you are actually targeting and what they buy. Imagine selling children product in the university where adults are the majority. It won’t work there.
Knowing your target market will help you make more sales and more sales means more profit.
Some products’ demand change based on the season. Know what buy in each season.
- Know the norms: Getting acquainted with the formalities involved in the mini importation business will set you on the right path.
Try as much as you can to know which products are termed illegal to import in the country of your residence. Importing illegal goods will land you into trouble.
Some products might have quantity limitations placed on them. Get familiar with all these to avoid surprises when trying to ship your products.
- Check product reviews: Just before you order for a product, make sure you check what other people are saying about the product and the seller. Having an insight on what other people experienced with the goods will help you make a better choice.
To check the credibility of the seller, send a message to him through the site. Messages like “Is your product good”. His response will determine if you can do business with him. If he doesn’t reply at all then it shows that he doesn’t have an effective customer support. Don’t do business with him.
Fast, easy to sell products in Nigeria
Wireless Ear pod
Bags especially ladies handbags sell a lot in Nigeria.
You can order them and sell it off in a very short time.
- Gifting items
In a place where weddings and birthday parties are taking place people buy a lot of gifts.
People buy gifts in Nigeria a lot.
4. Making payment
The last step is to make payment for the products you have selected and added chart.
There are payment methods in the import portals you can choose from.
If you are afraid the seller might not send your products and run with your money after payment, don’t worry the import portals have measures in place to check against such by use of ‘escrow’.
“Escrow” serves as the middleman between you and seller of product. If you make payment, the escrow holds the money until you have confirmed that you have received the goods before it will be given to the owner.
If you are not satisfied with a product, you can send it back and get your money when the seller confirms that he has received the products back.
Do not make payment directly to the seller. Pay through the import portals so you can get your money back in case something happens.
After you have done everything delivery is what is left.
There are two ways your goods can be delivered.
- Free shipping
You can go for this option if you are not in a hurry. The free shipping takes 20-30 days for your products to arrive.
This option reduces cost and maximizes profit.
Your goods can be picked up at china post or Hong Kong mail services office. It depends on which delivery company shipped your products.
You should include your phone number when providing the shipping details so you can be called to go pick up your product when it arrives.
- Paid or premium delivery:
This is a paid delivery and it takes just some few days for your products to arrive. Within 3-5 days you can have delivered through DHL, FedEx or any of the paid delivery companies.
6. Advertise your product and start making money
Now that you have your products delivered to you, the next thing is advertise it and start selling to make money.
There are many channels you can use to advertise your product:
- Social media: You can advertise your products on Facebook, WhatsApp or twitter to family and friends and they will start buying from you.
- Outdoor advertising: Outdoor advertising will help you reach people who are not online. You can use to get your neighbors and others to buy your products.
- Use flyers: Distribute flyers to people on the street letting them know something new is in town. Include your address or phone number in case they will contact you.
That is it. IF you follow these steps you will import your first product from china and sell to make money.