The Complete guide how to Start mini importation business in Nigeria. Make profit buying goods from abroad and selling it here in Nigeria.
This article Will guide you on how to buy goods from abroad at Cheaper price from China, AliExpress And other foreign eCommerce platform and make lots of gain selling it in Nigeria. “Mini importation in Nigeria 2022″
To Start this business all you need to get include the following:
Laptop/Desktop/Tablet or Mobile Phone
- ATM Card -Naira MasterCard or VISA card
- 20k or more depending on your choice of products.
- An email address
- A traceable physical location that will receive your products
- No Custom issues…
Mini Importation Business Requirement
With the above-listed items, you can start your mini importation business in Nigeria and blossom in a matter of months. The good things about this business model is that everything you need to do can be done in the comfort of your home on your PC or mobile phone. So in a nut shell that is why it is called E-commerce or E-business.
For the records, kindly note that this article on mini importation business is completely different from the mini importation business report that is flying around the internet without any valuable information.
This article comprises years of demonstrable and practical experience which reveals how small-scale businessmen/women and entrepreneurs in Nigeria and beyond can become part of the mini importation business world with little capital investment. Which is why it being exceptional.
That said, my goal is to tailor this post on mini importation business specifically for people under the following categories:
People that want to know how to;
- Source for a product(s) on the international portals
- Spot hot in demand products that will sell
- Start out as a newbie
- Avoid getting scammed
- Stand out from competition
- Shipped their products to their door step without headache
- Sell their products before it even arrives
With the knowledge contained in this article, you can also import products at low wholesale prices and sell them for a much higher profit.
Have you ever asked yourself how much does Konga, Jumia, PayPorte and other big online shopping stores in Nigeria make every month?
By the time you’re done reading this piece post, you will be informed about everything you should know to become a mini-importer and international businessperson!
How Dose mini mini importation business work?
Mini importation business as the name implies is the process of importing items outside the shores of this country, bring them into this country and sell them to consumers.
Also note, the name mini importation does not of a necessity mean small importation. It all depends on the size of your pocket. 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. Trust me, there is serious money to be made and people already in it are enjoying from this stuff.
How is Money made in mini importation business?
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.
To increase the size of profit you can make, there are basically two options.
You can either find a way to buy your products at a lower price or look for customers who will buy them at a higher price.
Whatever happens, always ensure that you buy at a cheaper price and sell it at a higher price to make reasonable profits.
The thing is before now importing from overseas was difficult because most of the manufacturers have what is called Minimum Order Quantity.
It is the minimum quantity of products a supplier will sell to you in order to make a worthwhile profit.
Which was why the preferred to sell their goods in large volumes. Since you can only afford a few hundred products, most of the big overseas suppliers won’t want to do business with you.
For example, a businessman who owns a small business venture but sells imported goods cannot imports goods directly from overseas because of the number of products he will order.
Because of this, the big guys with fat accounts can afford to act as the middlemen thereby buying at a very cheaper rate over there and coming to double the price for you which will make your profits so little.
I hope you get the jerk? Stay with me.
Even though you would like to enjoy these low wholesale prices too which will also increase your profit margin but because you do not have the kind of investment capital the big importers have, it somewhat makes it difficult.
Even if you could buy directly from the foreign product manufacturers, it would still be tough.
As a result of this hitches, you are stuck with the big importers. The profit you can make in your business is limited by whatever price they decide to fix on the imported goods.
But thank Goodness because things have changed.
The evolution of the internet has slide down the barriers which used to restrict access to manufacturers located thousands of kilometres away.
Advancement in transportation and logistics system have now make it possible for small businesses with little capital to import smaller amounts of stock at lowshipping costs straight from the manufacturers.
It is now on records that entrepreneurs and small businesses can relish the same low wholesale prices that the big importers have enjoyed for a very long time.
The pictorial illustration below shows the before and after analysis of what is in vogue and how this new business opportunity cuts out the middleman and allows you to buy directly from any manufacturers of your choice at lower prices that allow you to make a larger profit.
Things you should be aware of before starting mini importation
Our case study for this article will be on products manufactured in China because of reasons soon to be disclosed to you.
Although we shall also talk about products from the US and Europe, the tips in this article reveal more about buying products from Chinese manufacturers and suppliers.
The most likely question on your mind right now would be like: why China?
Okay here it is.
It no longer news that 80% of the world’s products today are being manufactured in the Asian continent particularly China, Hong Kong, and Japan.
Ranging from Cars, Phones, Laptops, Toys, computers, home appliances, kitchen utensils, etc are made in China.
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.
For example, sitting here while typing these lines…. My laptop is an HP Notebook made in China, my mobile phone is made in China (originally, made for the Chinese citizens so I had to remove the OS that came with it in order to be able to use it effectively here), my wrist watch is made in China and even my tablet is also made in China.
In this case aside my headset which is from Europe every other thing is from China.
Apart from food products, China is the number one source of all the hot-selling and fast-moving consumer products you know.
China 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.
Well, you may want to ask why I am telling you all this… it is on record that we Africans believes that China is the home for inferior or low-quality products.
While this may be true, I don’t think we should blame the Chinese. After all, China also produces many of the high quality products in America and Europe.
If our governments could enforce strict quality and safety standards for products coming into Africa, the Chinese would comply as they do for their clients in the USA and Europe.
However, you don’t have to worry about importing low-quality products. In the later part of this article, I’ll share with you the secrets of finding high-quality products and suppliers that meet US and European standards.
What you don’t need to get started.
- Be an internet or computer guru to get started.
- Have millions of naira to invest in the business
- Have a personal computer to get started.
- Have a shop or an office to get started.
- A visa to travel abroad to get started.
- Know any Custom officer because your products will be delivered to you anywhere in Nigeria
- License to import goods from abroad
Necessary tools you need to get started
For you to get started and join the league of other young entrepreneurs into the world of small business owners who can now import products at low wholesale prices directly from overseas suppliers and manufacturers,
you would need just the following:
- A computer or mobile phone
- Internet Access
- Valid email address
- An ATM card that can be used for online transactions
- A traceable physical home or office address where the items you order will be shipped to
- A working phone number
- You need a start-up capital: A little money in your bank account
- Ability to browse the internet and fill a form correctly
This means that you can shop for, order and import all the products you want to sell from the comfort of your room, or while you are on transit via your mobile device or tablet.
Please note that a P.O Box or PMB (Private Mail Bag) does not qualify as a valid and traceable address.
NOW, LET’S GET STARTED!
Here is your step by step Guidelines to starting your mini importation business in Nigeria:
- Locate your product source
- Source for Products
- Buy from a reliable supplier
- Pay for your products
- Have your products deliver to you
- Market your Products and
- Sell your Products and make money.
Before you get on your computer and start surfing the net to start shopping and ordering products for your new found and exciting business.
I will walk you through the various steps listed above through some of the pressing questions of all times people tend to ask or you may refer to it as mini importation business frequently asked questions.
Let’s walk you through them and I know by the time you’re doing reading these, you would know the best and most-trusted places to buy from, how to confirm the quality of products, the payment processes and several more.
Where to buy products for mini importation business as a biginner
The following websites are the most sort after and affordable online marketplace that sell products at low wholesale prices
And many more…
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
The goods on this site are tagged with prices on them. But Unlike some of the websites, AliExpress gives you the chance to chat with the sellers of the items you are interested in for further negotiation.
It has an express delivery with full tracking of the goods ordered. There is no need toworry about the delivery of the items ordered from this website.
It started as an online bookstore, but now sells all kinds of goods ranging from an electronic device, home appliance, and fashion stuff. Amazon has the best products with an affordable prices that one can order.
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.
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. Their goal is to always provide worldwide customers with high-quality products at the lowest prices.
How To Import Goods From China to Nigeria
This section shows you how to carry out mini importation activities from China since it is Nigeria’s number one mini importation product supplier. Let us look at some things that are needful even as you import from China.
Understand Your Rights
The moment you register as an importer, you will become a courier. DHL deliveries and other shipping deliveries will be carried out by the companies. Your sole responsibility is to get the package/ packages and have them delivered to your customers.
Types and Source of Product
As a mini importer, you will have to take extra care to be sure of what is it you want to import. To achieve this, you would have too to look at the needs or market demand in your sales vicinity.
Once that has been done, you would require a good source of supply. This is the trickier part, as most mini importation websites have a myriad of sources or suppliers from which to choose, and choosing the wrong source can be detrimental to your business.
Luckily you can distinguish the good sources from the bad, based on their ratings.
As the importer, it is your responsibility to ensure that whatever product you are importing to the country is not illegal or contraband. You should take note of the ten-digit tariff classification for whatever item that you are hoping to import. Doing this will allow you to be aware of how much you will pay as clearance fees for the products that are being imported.
Tracking Your Goods and Transport
This is where the cost of mini importation rests. A significant amount of money is spent in order to transport your goods, especially from China. You will have to keep an eye on freight-related documents, such as; commercial invoices, bills of landing, and packing lists.
After spending a few days in coming to Nigeria, your cargo would have finally arrived. In this stage, you will have to wait for your package to undergo some inspection at the custom’s board and then if necessary, undergo quarantine.
After all legal processes are complete, you will now have the right to pick up your shipment. A much easier method you can use is to use procurement companies that help in purchasing and shipping goods from China to Nigeria.
These companies handle everything for you till it gets to Nigeria, the only thing you need to do is to search for products they’ll help you to buy, pay them for the goods and importation and you go for collection when it comes to Nigeria
Some frequent asked questions
How will the product be delivered to you?
There are several ways for product delivery. You may decide to use the free shipping options, or delivery services companies. Which are either through the sea or air.
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, happy times express cargo, 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 the per cubic meters of goods though.
Whether you decide to use a free shipping option or a faster delivery service for your order, we advise that you include your mobile phone number in the shipping address you provide.
More often than not, you will receive a telephone call from the local DHL/FedEx office to come pick up your items. Including a phone number may mean the difference between a delivered packaged and a lost one.
What are the various means of paying for the products?
Before now, making payment for your goods was one of the reasons why it was nearly impossible for small businesses to import directly from manufacturers and suppliers in USA, China, Hong Kong, etc.
The thing is as of then, Banks had to issue a Letter of Credit or Bank Guarantee which often involved a long and complex process that was complicated and frustrating. Thereby making things unbearable.
Today, with the adventure of the internet of Things. 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. Yes, 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!.
In Conclusion mini importation business is One of the best way you can legitimately make cool cash in Nigeria. It doesn’t require huge cash you can start with little fund and grow. If you have any question kindly ask using the comments section below.