A few years ago you still needed some amount of money to get into the mini importation business in Nigeria. It didn’t require a lot of money to start with. Nowadays, almost anyone can become a millionaire by mini importation and selling products from countries like China and others.
What is the mini importation business?
As the name suggests, the mini importation business is a simple form of business in which someone buys a product abroad at a low price and resells it for a profit at a higher price. This business is mainly done online. Right now, most people deal with Chinese companies because they tend to have different products that are available at a relatively low price.
In general, many see the mini-importation business as a small business, on the contrary, you can also import a large number of products, depending on your capital.
How To Get Started
Select a Faster Selling Product to Trade
The first step in starting a mini import business in Nigeria is to get an idea of the profitable products you can import from China and sell in Nigeria. You can skip this step and move on to the next if you already have a product in mind. Without wasting your time, this part will show you how to find the most profitable items to import from China. One of the ways to identify profitable products is their demand and rate of sale in the market.
If you want to embark on this journey, you must first find your product. You need to know that. Most of the provider’s websites are located in China. You are probably thinking why China? China is the main source of popular and fast-selling products around the world.vYou can call it an international warehouse or manufacturer. Likewise, most people think that any product made in China is always inferior. Seriously, this is far from the truth.
Select A Platform to Buy
When you have decided which products to import, the next step is to find a platform to buy your products from.
A good supplier is one of the pillars of your mini importation business. Lack of communication skills and slow response are some of the problems most vendors face, and you don’t want to do business with an incompetent vendor. Avoid the frustration of a bad supplier completely. You should carefully look for a reliable supplier.
Register your Nigerian mini importation company with the Corporate Affairs Commission (CAC).
To start a mini importation business, you must first register your company. You can skip this step entirely if you think your Nigerian business is going to be a home business and nothing else. However, if you want to start a full-time mini import business in Nigeria, you need to structure the business. In Nigeria, the CAC is responsible for the registration of companies, they are represented in all states of the country and in the federal capital territory of the country.
Buy the products
Place your order by paying with your electronic credit or debit card. Most Nigerian banks now have cards that are accepted on these websites. You can send money in other ways such as bank transfer or wire transfer. As soon as you have paid for the goods with the shipping costs included. Next, wait for the goods to arrive. You may not need the services of a clearing agent if the import is via premium courier services such as DHL, UPS, and others.
Sell the Products
You must have spoken to your customers about your coming product using the sample from the previous product sample you must have brought or the pictures on the sites you are buying from. Sell at a wholesale price to make your profit.
In summary, the idea of starting a mini import business is exciting and also very exhausting. The first thing worth doing is taking a step. Start TODAY. Stop hesitating.
Take the first step, even if you haven’t seen the whole ladder. Definitely, this article will help you start your own profitable mini importation business in Nigeria and import your first products from China. Using the websites and steps listed above, I hope this was able to answer the various questions that you had on your mind.
Don’t forget to get started today!