Mini Importation Business in NigeriaMarch 6, 2022 2022-03-06 13:17
Mini Importation Business in Nigeria
Mini Importation Business in Nigeria
Mini importation business in Nigeria is a profitable venture that can provide a good income stream. Most people have discovered how lucrative this business can be, so mini importation has become popular. There are varieties of product categories that you can import at wholesale prices and sell them to make profits.
A good advantage of this business is that it can start with small capital. You also have different platforms to buy or import products. If you want to start this business, I will walk you through how it works. This article will guide you on how to start a mini importation business in Nigeria.
Table of Content
- What is Mini Importation?
- How to Start a Mini Importation Business in Nigeria
- How Much Does it Cost to Start a Mini Importation Business in Nigeria?
- What are the requirements for a mini importation business?
- How are the Goods Delivered?
- How To market Your Imported Products
- Frequently Asked Questions and Answers
- How much profit can I make with a mini importation business in Nigeria?
- What is the best importation business in Nigeria?
- How do I deliver the products I sell?e-commerce sells?
- What is the cheapest way to import goods from China?
- Do I need a VAT number to import my products?
- Why is shipping Asensive on Alibaba?
- Watch 5 Mini Importation Business Ideas Under $300
What is Mini Importation?
Mini importation is a business that allows you to purchase or import products at wholesale prices and resell them. This business is a small-scale business, and it usually deals with products of various categories from clothes, gadgets, phones, laptops, etc.
The importation of these products is not the only thing that this business involves. Marketing and selling them is also very important. Many people are successfully running mini importation in different categories in Nigeria. That is because it requires less skills and capital to start.
How to Start a Mini Importation Business in Nigeria
Starting a mini importation business in Nigeria is not as difficult as it may seem. However, there are a few steps that you will guide when starting. Below are the steps involved in starting this venture.
- Choose a category of product
- Select your preferred source to buy
- Find a Supplier
- Order and Payments of the purchase
These four easy steps can get any mini importation business on the right track. I will discuss all these steps and how you can kick start this business.
Choose a Category of Product
This step is the first and most important that you should consider when starting this business. Choosing the type of product is very important, and you must do it before any other thing.
You must research the best-selling type of product before purchasing any product. You also have to check the profitability of the product you want to import. That would be a great way to build a successful mini importation business.
There are categories of products you can choose from; these products range from clothing and underwear, clothing accessories, phone accessories, beauty and fashion, cosmetics, computers, and electronic gadgets. The number of products you have at your disposal is limitless. However, choosing products that would likely sell and are profitable is more important.
Select Your Preferred Source
After choosing the type of product you want, where to buy them is a question that you have to answer. With this importation business, you have many options in selecting a place to buy your goods. There are many reliable marketplaces online where you can purchase goods and services.
These websites sell products at wholesale prices. You can buy them in bulk, depending on your capital, and sell them. Some of the online marketplace where you can get these products include; Alibaba, Amazon, Aliexpress, eBay, and DHgate. These marketplaces offer similar services.
Find a Supplier
Finding a supplier ensures that you receive quality products after completing the purchase. A supplier that is not reliable or does not communicate well would be bad for your business.
You can get to know a good supplier by checking the feedback and reviews of other buyers/sales. That would help you know whether they are good or not.
The communication medium of the supplier must always be reachable. Other metrics that could tell the credibility of a supplier are;
- Response to queries
- Years of experience
- Number of sales complete
This importation step is vital, and you must make sure that it is handled with competence.
Order/Payment of the Purchase
This process is the last step of importation. Placing an order and completing the payment is an easy task to finish. This process used to be a bit more complex before. But it is now easier with the help of fast credit card transactions.
Making payments can be done via your local bank. Alternatively, you can also make payments through a dollar account if you have one.
When placing orders, it is important to take note of a few details such as product size, type, and color.
So, these are the 4 simple steps to starting a mini importation business in Nigeria. It is very easy and requires little capital to start. If you have to start big, you can also start big by purchasing a good number of products for sale.
How Much Does it Cost to Start a Mini Importation Business in Nigeria?
Mini importation business is not expensive to start. You can start this business with a capital of at least N20 000 to N30 000. However, you can also spend big with millions of naira in capital to start this business.
The cost of starting a mini importation business might also be dependent on a few factors. The product category may also influence the amount of capital you need to start. But it is possible to with a small budget before moving to a larger scale in the future.
What are the requirements for a mini importation business?
Starting this business does not demand a lot of expensive or big facilities. A few requirements can get you going in no time.
You will need either a laptop, computer, or a smartphone to run the entire process. Access to a stable internet connection is also very important. A valid email address is needed for the delivery of the product.
There are no complex requirements to this process, and deliveries of your products come as fast as possible. However, that depends on the method of delivery you use.
How are the Goods Delivered?
There are two major ways to get your product, depending on your address. The Free shipping and premium delivery Mail services and Post offices mostly carry out this delivery method services and Post offices.
- Free Shipping: It is cost-effective to use this method of delivery. However, it takes a long time for the delivery to reach your address. Free shipping takes 20-30 days on average to get your products.
- Premium Delivery: You can use the premium delivery method to deliver your products. It is more accurate and faster. You can get your delivery within 3-5 days. However, it is very expensive to use.
Delivery is brought to our physical address, so you have to ensure that you put a valid address. Your contact or phone number is vital when receiving an order.
How To market Your Imported Products
Marketing your product is an essential part of this business. You have to find the right ways to advertise and create awareness of the products you sell. Social media marketing is one of the best mediums to market your business. The following techniques are effective in dealing with your products in Nigeria;
- Social Media platforms ( Facebook, Instagram, LinkedIn, etc.)
Social media has become a powerful tool of marketing in recent years. Advertising your products to a target audience is effective. You can reach a wider range of audiences by running paid ads.
Opening a WhatsApp business account has recently proved to be a great form of marketing your product.
You can join large communities/groups related to the niche of the products you want to sell. Uploading photos of your products using the Whatsapp status feature is also efficient.
These techniques are the most popular approach to marketing in the online world. Physical advertisement methods are also great. You can open a store where you sell these products to people.
So, that’s it! Everything you need to know about mini importation business in Nigeria. If you want to know more about this topic, check out the Frequently Asked Questions and answers section below.
Frequently Asked Questions and Answers
How much profit can I make with a mini importation business in Nigeria?
You can start a mini importation business in Nigeria with at least Nth this little amount of money; you can make up to 200$ profit on your capital.
What is the best importation business in Nigeria?
There are different categories of products you can choose from for your mini importation business. However, the best and most lucrative mini importation businesses are laptops/computers, smartphones, and security and tracking gadgets.
How do I deliver the products I sell?e-commerce sells?
With large eCommerce websites; you can have no problem with delivery as these sites can offer delivery services. But it also comes with a commission charge. Alternatively, you can deliver your products using courier services.
What is the cheapest way to import goods from China?
Sea Freight is the cheapest method to import products from china. It is also more cost-effective if you are buying these products in bulk.
Do I need a VAT number to import my products?
If you are an importer, you must pay a VAT in addition to the original import charges. However, registered VAT would receive a standard return. A certificate that showillur proof of payment will be given to you.
Why is shipping Asensive on Alibaba?
As I mentioned earlier, shipping is a cheap method of importing your products. Nevertheless, Alibaba uses the weight of the goods to charge for imports. The heavier the goods, the more Alibaba charges.
Watch 5 Mini Importation Business Ideas Under $300
You now know how the importation business in Nigeria works. It is a profitable business that involves many industries and niches. Starting this business is also very cheap and less complicated.
The order, payment, and dry process are also easy to complete. You can choose either an expensive or cheap option for your delivery. However, with less cost, the products are delivered much slower.
Another essential aspect of this business is marketing. No business thrives without a decent marketing strategy. I have provided a few ideas on marketing your products in Nigeria.
If you want to start a mini importation business in Nigeria, the tips in this article will provide you with the right information.
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