How to Start A Mini Importation Business In Nigeria: The Best Guide : Study Driller

How to Start A Mini Importation Business In Nigeria: The Best Guide For 2019

Filed in Information Guide by on February 4, 2019 0 Comments

How to Start A Mini Importation Business In Nigeria.

How to Start A Mini Importation Business In Nigeria: The Best Guide For 2019…Mini importation business is simply an online small-scale importation business model where a person with small capital can import goods directly from other countries at a lower price and sell in another country with a good profit margin, most times at a higher price.

Mini Importation Business

Mini Importation Business

How to Start A Mini Importation Business In Nigeria

For instance, the buying goods like clothes, bags, shoes etc. from China and selling them in Nigeria is a form of mini importation business in Nigeria. Mini importation is a profitable business for the employed, unemployed and Students.

In this guide, I shall be showing you the basics of mini importation business and how to start it successfully in Nigeria.

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Steps To Start Mini Importation Business In Nigeria

To start a mini importation business in Nigeria, some of the steps that you need to follow include:

  1. Do Proper Research and Planning:

This stage is very important and it provides a foundation for the business. There is a popular adage by Benjamin franklin which states that “failing to plan is planning to fail”.  This adage applies to mini importation too. It involves the following sub-steps:

  1. Surfing the internet and gathering enough information on mini importation (i.e., the pros and cons of mini importation)
  2. Having knowledge of and deciding on the types of goods you can (and want to) import and the niches with a large market.
  3. Getting mentors in that line of business to guide, advice you, and also provide you with practical knowledge.
  4. Studying the market: At this stage, you consider whether the good is in high demand in the market presently or whether it will be soon. Or, is it a good you will buy and won’t have enough people to sell to at the end?

The final step is very important and influences all other decisions you will be making as far as importing from abroad is concerned. For instance, as a student, the best market will be to buy clothes and shoes to sell in the school because those products are in high demand in universities and polytechnics and the market is large and versatile. On the other hand, if you decide to sell laptops, the market is not that large because of the proliferation of fairly used laptops across the country lately. Secondly, the capital required is huge.

  1. Decide Where To Buy Your Goods From:

There are many places online where you can buy the goods you intend to import and sell. However, in choosing, make sure that you buy from a trusted site where you will not be scammed of your hard-earned money. Also, ensure that you pick a site which offers a variety of goods .Examples of good sites where you can get goods are Aliexpress.com, Dhgate.com, Alibaba.com, and impart.com.You can visit each of the websites to get familiar with them and make your choice.

  1. Order Your Product:

It is advisable to use a computer when surfing through the site and making your order .The steps to follow is as follows:

  1. Log on to the website of your choice.
  2. Search for the product you want to import.
  3. Communicate with the seller on the availability of the product and if he ships to Nigeria.The next step is to bargain with them, if possible, to get a price reduction price especially where you are buying in bulk quantities.
  4. Click on “Buy Now” {pay with your MasterCard}.
  5. Choose your shipping method and fill in other details.
  6. You will receive a confirmatory message that your order has been placed as well as the details of the transaction.
  7. Your goods will be delivered depending on the delivery method you choose (free or paid) and channel (courier service) you opt for. For fast delivery, you can choose DHl.

It is important to note that whichever website you choose to buy from, make sure that you check the buyers rating and be sure that the seller has a high and positive rating to avoid falling into the hands of scammers.

You can also read customers reviews on the site and on the product to have an idea of what to expect. The websites provide a form of customer protection services to protect customers from being cheated but you must also be careful.

  1. Make Payment:

The price of the goods is usually in dollars. To pay for goods you wish to import, you must have a functional bank account and a MasterCard (i.e., ATM card) of any bank in Nigeria. I recommend GT Bank MasterCard or Access bank MasterCard because they are the most acceptable means of payment. However, enquire from your bank whether they allow international transaction with their credit/debit cards. This is important because it is this card that you will use to pay for the goods you wish to import. You will need to input your card number, it’s expiry date and the cvv number (card security code).

Note: Verve cards cannot be used because it is restricted to Nigeria alone.

  1. Shipping the Products to Nigeria:

Some of the sellers on these merchants’ sites offer free shipping. However, it could take time before the goods will be delivered and you can’t even track them in transit in most cases. I recommend that you go for the paid shipping option because they are more efficient and you will be able to get your imported goods in a short while. Also, ensure that you have a traceable address where the goods can be delivered to.

  1. Selling Your Goods when they arrive Nigeria:

Immediately the shipping is confirmed, you need to start marketing your product to family, friends and others.

You can market your product through the following means:

  1. Social media such as Facebook pages, WhatsApp status, twitter etc.
  2. You can also sell them to local retailers around
  3. Promoting customer referrals whereby when a customer buys a product and refers another person they get a bonus.

Rules to follow in order to have a successful mini importation business

Choose your products carefully

  1. Ensure that you import products that are not too common in Nigeria or products you can get for a far cheaper price within the country.
  2. Ensure that you order from a trusted supplier.
  3. Ensure that the products are not defective

Some of the niches that sell like hot cake in Nigeria which you can choose from include health products, food, clothing and fashion items, phone and gadgets, etc.

Conclusion

Starting a mini importation business in Nigeria is very advantageous; the pros definitely outweigh the cons. You can open an online store front to operate from. An online store front is an e commerce solution for merchants who want to host a website that advertise their products. The benefit of this is that it helps to save cost while at the same time helping the seller to reach a wider audience.

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