Are you looking for a way to start mini importation business in Nigeria? Is it possible to source for products from other countries and ship to Nigeria? Are you looking for fast selling products that would double your capital in space of months? If these are what are bothering your mind, follow up this guide to learn the simple process on how to start mini importation business in Nigeria.
If you are a stay at home mum, unemployed youth or a business owner looking for other source of income, mini importation business can help you double your income and the beauty part of the business is that it doesn’t require an office to start it.
Nigerian entrepreneurs are interested in getting small quantities of products from other countries but most of these entrepreneurs don’t know the pros and cons of mini importation business. For you to be successful in this business you must have vast knowledge about how to find foreign supplier, how to negotiate price and seal deal with supplier, how to ship goods to Nigeria, how to market the products and how to deliver the goods to customers if you are advertising on social media.
Most of the big giants importers in Nigeria mostly source their goods from Asia, with china dominating the market as one of the largest producers of goods in any industry. Meanwhile sourcing for goods in small batches always comes with some problems relating to:
- Shipping fee is always higher than the goods itself
- Delivery period: some goods takes 2 months to get delivered at times
How to start mini importation business in Nigeria?
Before giving you the pros and cons of mini importation let’s discuss what it’s all about.
Mini importation refers to a business where importers source for goods from other countries at wholesale price and sell in their locality for high profit. Importers source for goods in wholesale price, buy in bulk and resell to their customers after the goods must have been delivered to their preferred destination.
Necessary tools needed to start mini importation business in Nigeria
Mini importation is not that capital intensive and does not require expensive tools to start with. However these are the necessary tools needed to get going with the business.
- A computer system or smartphone
- Internet connectivity
- Active gmail account
- Home address in Nigeria
- A little amount of capital to start up the business.
With these tools you can start up mini importation business in Nigeria.
Types of goods to source for as an importer in Nigeria
Before investing your capital on any goods ask your self if the product would solve a problem. Products that solve problem sells fast in Nigeria. However these are the products that sell fast in Nigeria.
Small sized goods: for small importers or beginners who just want to delve into mini importation business in Nigeria, small sized goods are the best feet to start with. The shipping fee of these goods is not high and at most their shipping fees are always free. If you are paying a shipping fee as a beginner with mini importation, believe me your products will be more expensive compared to other competitors who are willing to sell their goods at low price.
These small sized goods can be small electronic equipments, phone accessories, fashion wears, watches, artificial hairs and shoes.
Consider the needs of these products and the problem they would solve to Nigerian population before importing them into the country. The examples I gave above are fast selling products in Nigeria if you are conversant with the Nigerian market.
Large sized goods: if you have enough capital to put into mini importation business in Nigeria, you can go for large sized goods like auto parts, solar generators, musical equipments, batteries, computers, projectors and agricultural machinery.
Where to source for goods as an importer
There are different market places to source for imported goods online. The most used sites to source for goods are 1688, Aliexpress, Dhgate and iPmart. If you are willing to buy in large quantity you can try Alibaba. For shopping and shipping of goods you will be required to sign up on their platform.
How to pay suppliers
This is one of the technical areas that gives beginners headache about mini importation but the truth about this is that it’s one of the simplest thing to do in the business. You can pay your supplier through your MasterCard bank in Nigeria or through a simple bank transfer.
How to avoid fraud on each marketplace
A lot of this marketplace use escrow system to safeguard the interest of the importers. This escrow system is a financial arrangement where a third party will be paid and regulates payment between the buyer and the seller involved in a given transaction.
The vendor/seller can only get access to his/her money on the market place when the buyer has confirmed the delivery of the products and satisfied with it.
Other look out points in the market place
- Check the review of the products you want to buy: Almost all market place allows customers to review vendors products after purchase, this gives customer the avenue to rate the performance of the product
- Check the negative and positive review of the vendor: their rating could tell a lot to customers
- Read products description before paying out: as a customer you need to check out each product description before you make payment to the market place.
How to get your goods delivered to you from the marketplace
After paying for your desired goods the next thing to look out for is the shipping process. Two shipping process are always placed on the website which are free shipping and paid shipping.
Goods associated with free shipping are meant to be delivered for longer days. Usually, most of the free shipping goods takes up to 20-60 days to get delivered. But if you want your goods delivered to you in a day or two, you can process your goods to fast shipping companies like DHL, FedEx and EMS. The carrier company will notify you when your goods are ready.
How to sell your imported goods in Nigeria
Imported goods can be sold with different ways in Nigeria depending on the audience you are targeting. You can run campaign ads on different social media platforms for your products. Also, you can open your personal e-commerce website in Nigeria to reach wider audience.
You can also use the traditional form of marketing by using word of mouth to market your goods to both family and friends in the neighbourhood.
Minimum capital needed to start mini importation business in Nigeria
Mini importation business in Nigeria is not that capital intensive and can be done with as little as N30,000
You can start up this business by ordering for small batches of goods and sell to know how the business works. Search and identify your niche and make sure the goods you are importing will be able to solve peoples problem.
With the little information I compiled In this guide I believe you must have gained a little bit of knowledge about mini importation business in Nigeria.
If you’ve questions or suggestions over this guide post it in the comment section of the article.