If you’ve been looking for an online business that pays well in Nigeria, then a mini importation business might just be what you’ve been searching for. In this part of the world, importation has gained a reputation as a capital intensive endeavour. While that is true, the mini importation business in Nigeria is a whole new ecosystem with very flexible starting capital. Since it’s done over the internet, you get to cut a lot of costs associated with the traditional importation business.
Before we proceed to the steps in starting a mini importation business in Nigeria, let’s break down what it entails.
What’s Mini Importation?
Mini importation is when you buy products directly from a foreign manufacturer and have them delivered to you in your country. It’s basically a small scale business spin on the larger importation market.
The mini importation business is one that you can launch with as low as N10,000 (provided you already have the basic tools) and makeup to N50,000 in profit. This is not to say you can go as high as you want with your starting capital. There’re Nigerian mini importers currently shipping goods worth millions naira.
What You’ll Need to Start Your Mini Importation Business
To start a mini importation business in Nigeria, here are the things you’ll need.
- A smartphone or a personal computer
- Fast internet connection (Lan, modem or wifi)
- A valid email and home address
- A Paypal, Alipay account or Payoneer account (It sometimes depends on your supplier)
- Facebook & Instagram profiles (for digital marketing)
With these, you’re ready to begin the process of starting your mini importation business in Nigeria. One exciting thing about the mini importation business is that you can set up the entire business from your computer. In most cases, the only tasks you’ll have to perform outdoors is receiving your goods and probably handlings the logistics of delivering to your customers.
Steps to Starting Your Mini Importation Business
- Find a Niche ( It’s all about the starting capital)
- Source your products
- Find a reliable supplier
- Pay for your product
- Receive your product
- Market your product
- Make sales & Earn
Find a Niche
There is a wide range of products you can import such as electronics, furniture, clothing, etc. However, you’ll want to go for the ones that fit your starting capital. If you have a low starting capital, you might want to start your mini importation business with a product that isn’t so pricey like headphones for instance. This way you can buy a reasonable number of items which will help increase your profit margin.
Source Your Product
While running your mini importation business in Nigeria, you’ll be getting a lot of your products from China. Over the years, the Asian giant has gained a bad reputation in Nigeria when it comes to product quality. However, It is crucial to know that this perception which a lot of Nigerians have formed isn’t very accurate. Some of the best products in the world are manufactured in China. We’ve got our regulatory bodies to blame for any fake product that is shipped here from the Asian country. Take smartphones, for instance, household names such as Apple, Samsung, Techno, etc., are mostly produced in China and shipped here, as well as in other parts of the world.
Some of the e-commerce stores in China that offer great product prices for mini importation are:
You’ll need to register with any of these websites. I advise you to take a look at the different sites and see which one best fits the niche you intend to launch into. Anyways you’re good to go with any of these listed e-commerce stores.
Pay for your product
Financial technology has breached the payments boundaries across countries of the world. Thus, paying for your preferred good will be as easy as opening a PayPal, Payoneer or Alipay account. All of which you do from the comfort of our smart device here in Nigeria. Check the payments options available if you select an e-commerce store and simply signup for that.
Receive Your Product
When it comes to receiving the products you’ve purchased they are two options can use.
Free Delivery: This could take up to 20 to 30 days. However, it can help increase your profit margins. The common delivery companies used for this service are China Mail, Hong Kong Mail or Air Post
Paid Delivery: This system of product delivery will cost you some money, but it’s faster, safer, and takes between 3 – 5 days. Here, your cargo will be handled by globally acclaimed firms such as DHL, FedEx and EMS.
When you receive your products you can create a dry place to store them in your house. This takes away the need to use some storage facility that will increase your overhead costs.
Market Your Product
Once you’ve received your product, you’re ready to start doing business. There are several kinds of traditional means of marketing your product such as word of mouth, selling to brick and mortar stores, advertising on radio or television. While these shouldn’t be ignored, you should put the bulk of your efforts into digital marketing. I’ve had several mini importers talk about how effective Facebook and Instagram ads have proven. You can also launch your Facebook group and Instagram business profile. Once you’ve gained a dedicated following it’ll cost almost nothing to get your product out there and start making sales.
Sell Product and Earn Profit
When you have an order from customers, you’ll need a system for delivery it to them. This is where you’ll need to enlist the services of a local courier company such as Kwik Delivery, Jumia Delivery, GiG Logistics, Courier Plus etc. Some of these have an upfront fee while some don’t. Just take your time to find a courier company that suits you best. The courier company will deliver your product and collect payments on your behalf.