There are many who shiver at the mention of importation business. Subconsciously, they start thinking in Dollars and Pounds or even Euros. This is because they would have thought of where the capital to start this kind of business would come from. But it is in order at this juncture to take a chill pill because opening a mini importation business is not as difficult as you thought and not necessarily as capital-intensive.
With mini importation, it is not all smooth-sailing. You do not just say “kumbaya” and everything would just fall into place. Just like many other businesses, it comes with its benefits and risks. It is refreshing to know though that with little cash, you can start up a mini-importation business in Nigeria. You can also start from the comfort of your home too even as a newbie in the business. Mini-importation provides hope to a lot of people in Nigeria who want to feel the air that comes with buying and selling of goods originating from outside the shores of the country.
The mini-importation business is basically an online and a small-scale importation business. In this kind of business model, a person with small capital can import goods from China and other parts of the world at a low price and sell in Nigeria at a higher price. It involves all the four corners of buying and selling. The striking thing about mini-importation business is that you buy goods outside Nigeria and then sell the goods in Nigeria. If nothing goes south and you play your cards right, this business is lucrative and before long, you are on your way to your financial promise land.
Steps to Starting a Mini Importation Business in Nigeria
Starting a mini-importation business in Nigeria has its natural hurdles. You do not need travel 5,000 miles but be sure the pain would be worth it in the long run. According to the Hantec Markets, there are four critical steps to starting a mini-importation business in Nigeria and they are enumerated below:
1. Select a Niche for Products
This is a crucial part of the business. There are several niches to dive into in the mini importation business, and if you have the capital, you can start big by taking on multiple products to go into. There are several ranges of products to delve into such as electronics, clothes, furniture, etc. but for someone with low capital, you must find something that your capital can purchase and work your way up.
2. Source for Products
After you must have selected a niche of the products, you’ll be interested in selling, you must find a supplier who will supply your goods. These days, finding suppliers have become comfortable with the help of the internet. Several online retail stores sell a verse range of products that can be bought and resold here in Nigeria.
What you must do is look out for one and register with and begin your purchase. There are a lot of credible online retail stores such as Alibaba, Amazon, AliExpress, DHgate and so on.
3. Buy from Supplier
Buying your goods from your supplier is the next step. Another essential step to ensure here is choosing a reliable supplier. You want to make sure the goods demanded are quality products. One right way to ensure this is through reviews and feedbacks from other buyers. You can make vital decisions on whether to go ahead about a purchase through the ratings and recommendations of other buyers.
4. Pay for the Products
The last step in ensuring your goods get to you is paying for them. It uses to be strenuous to make payments for imported products. These days, with the help of the internet and a debit card, the process has become seamless. Ensure that you fund your account for the goods you’re about to purchase so that payment can go through. This is the only way to ensure that your products will be shipped to you.
Navigating Risks and Reaping Rewards in Mini Importation
Every business comes with its risks and benefits. In fact, there is hardly anything in the world that does not have those two variables. Learning to win is also learning to lose. But if you must win, you must learn to lose. Thus, the mini-importation business in Nigeria is true and real but with its accustomed risks. Everywhere you go all over the world, there are almost always elements who make things difficult for other people. This is not peculiar to just Nigeria. These elements operate in different formats but the trick is to always watch out for red flags. The beautiful thing about the mini-importation business is that you can start with a little amount of money at the comfort of your home.
Materials Needed to Start a Mini Importation Business in Nigeria
To pioneer a mini-importation business commendably in Nigeria, you will need the following at your beck and call:
1. Internet-friendly laptop and/or mobile phone.
2. Access to reliable internet.
3. A debit card (Master or Visa Card).
4. An available email address.
5. Capital.
6. A warehouse.
Conclusion
There are many ways to ship or deliver your goods down to Nigeria. Shipping your goods would be necessary when you have accounted for the above mentioned tools and have followed religiously the steps necessary for opening a mini-importation business in Nigeria. Additionally, your goods can go through the free shipping model that delivers your goods within 25-30 days or you can consider the express shipping or delivery that takes up to 3-5 working days. Subsequently, the latter should be the ideal bet but it would cost more.
It is not enough to bring your goods down to Nigeria. These goods must be sold. Hence, you must advertise your goods on various platforms. This means that you must always have internet access. If you neglect this part, you might not meet up with your expectations as far as mini-importation business is concerned. When people have a sufficient reason to patronize you, then your goods would not last long in your warehouse. As long as those goods leave the warehouse to your target customers, you will definitely be smiling to the bank every now and then.
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