Perhaps you have heard so much about mini importation in Nigeria or any other country for that matter. To break it down even further, it is a form of small-scale business where you buy or import goods overseas from the manufacturers at an easy and affordable rate.
It has quickly become a popular form of online business.
Most mini importation business owners purchase their goods from countries like China, Russia, and so on where several types of products are produced in large quantities, and then imported to Nigeria, and resold to people.
Mini importation business is a type of business in which you acquire goods from abroad at wholesale prices and the supplier will ship to your doorstep or post office in Nigeria.
What to Know About Mini Importation
That being said, a mini-importation business is a form of business model where someone buys a product from another country at a cheaper rate and re-sells it to people in their location at a higher price for cool profit.
This business is usually an online business that is cost-effective to own. Utilizing the resources of Facebook, Instagram, and so on to build a tangible online market.
Usually, a lot of people see the mini-importation business as a minuscule business, which it can be, but you can also import a large number of products, depending on your capital.
A mini-importation business is for people with limited capital and people who have a huge capital to invest in. You can start with as low as N10,000 or as high as N10million as the case may be.
Previously, only specific organizations with considerable capital investments dealt in the importation business. However, with the advent of the internet and technology, anyone can engage in any business. We are now infinite.
Most global manufacturers or suppliers might not submit your order if it’s not up to their minimum order quantity (MOQ), which is why you have to buy a number of products at once and also save the cost of shipping them separately. Furthermore, the MOQ can be different as there are numerous suppliers.
You would also need to know how much the goods wanting to be imported cost in Nigeria so you can have an idea on how to price your goods accordingly.
Once you approximate the prices, it would be easier for you to deduce your profit and meet the best suppliers. The suppliers then assume the responsibility of shipping, clearing, and delivery
WHAT YOU NEED
In no particular order, here’s a list of all you will need to begin a mini importation in Nigeria.
A computer, laptop, or mobile phone.
Dependable internet connection (sourced from a reliable network or wifi)
Legal physical address where your products can be delivered to.
Factual e-mail address.
A social media account for commerce.
Start-up capital can range from thousands of naira to millions of naira.
A GUIDE ON HOW TO START MINI IMPORTATION IN NIGERIA
Search for goods
Buy from a credible supplier
Pay for your goods
Delivery of Merchandise
Finally, Market your Products
Sell your products and make money.
SEARCH FOR GOODS
In the industry of mini importation, one has to know where to buy the products they wish to resell to others. This is an analysis that is carried out by the owner of the business. This analysis is based on what the owner of the business wants to sell or what the owner of the business has noticed sells more and would like to make a profit from based on the needs of the market.
These products can be sourced for on the internet on popular commercial apps like Aliexpress, Alibaba, Amazon, DHgate, etc
BUY FROM A CREDIBLE SUPPLIER
After researching where to get products that the owner desires to sell, the owner must ensure that these products are purchased from a credible supplier who will handle the delivery of the goods to the doorstep or post office of the owner of the business, depending on the agreement.
Here, the delivery technique should be checked and based on the peculiarities of the owner of the business and the nature of the goods of the business.
In addition, make sure you always review the product description.
The seller’s guarantee on the products should be checked and reviewed before being shipped and you can see them at the bottom of the product page.
The power of feedback is vital. The feedback rating is a strong criterion invented to safeguard customers from purchasing counterfeit products. You can always test if the supplier delivers as guaranteed.
PAY FOR YOUR GOODS
Before now, how to pay for products used to be a barrier to venturing into the importation business. This is because there are no easy ways to pay. It is always a lengthy method.
However, due to the internet, everything is now made easy. You can make payments for products in the US or anywhere around the world right from your bedroom in Nigeria. It is now that easy.
There are various tunnels through which you can pay for your products, but they fluctuate with suppliers. Some suppliers authorize the use of Mastercard or Visa card payment, some PayPal or Cash App
The fact is, payment for goods is now easier with the presence of the ever connecting internet and this should not be a barrier to you.
DELIVERY OF MERCHANDISE
This usually comes in the ways of free shipping and premium shipping, both of which are explained below.
This mode of shipping is usually sluggish but boosts profits. Most times it is usually delivered between 20 to 30 days and can even take up to months. The service company can be China Mail Air Post or Hong Kong Mail services amongst others.
These deliveries are usually done by international couriers DHL, EMS, and FedEx. Although it might be expensive in comparison to free shipping it’s always faster and safer, taking between 3-5 days to deliver.
The problem however might be that free shipping is not often precise as to where your goods might currently be and the goods are often dropped off at the post office, not at your doorstep.
MARKET YOUR PRODUCTS
This is the most important aspect of mini importation. It is one thing to successfully order your product and it is another thing to successfully market and sell them. Nobody is going to know your business unless you adequately market it.
Hence the burden of marketing is placed on the owner of the business whose duty it is to market the newly acquired products to not only gain profit but build the clientele base.
There are several ways to market, through word of mouth, through flyers and mini-shows in public places, through sponsoring popular folks to advertise for you, through newspapers and or magazines, through billboards, and through the internet which entails social media marketing, email lists, etc.
SELL YOUR PRODUCTS AND MAKE MONEY.
You can either create an online store using the resource of the Internet for your products and create a tangible store on several platforms or make a consensus with courier services that distribute the goods to your clients and receive the money on your behalf.
Conclusion on Mini Importation in Nigeria
Ultimately, as the Igbos of Nigeria, say
“keep it in your right hand so you will not forget”
Out of every order, there might be a considerable amount of goods that will be returned, there will be complaints either from your clients to you or from you to your supplier. This is all a part of the business and should not make you quit.
Eventually, you will begin to acquire profits in your business.
A huge amount of money is not needed to commence a mini importation in Nigeria and at the same time, no amount is too much. One just needs to create an efficient plan, find the right group of suppliers to work with, and dedication to providing based on the demand of the market.
Where there is a will, there is always a way. Look for your angle in mini importation, supply Nigerians with quality goods, and get your rightful profit. All the best. You can learn all about how to export from Nigeria by clicking here