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HOW TO START MINI IMPORTATION BUSINESS IN NIGERIA (STEP-BY-STEP)

HOW TO START MINI IMPORTATION BUSINESS IN NIGERIA

Mini importation is now one of the legit businesses many people are into as there is a considerable low barrier of entry into being involved in it. Do you have interest in it and you are looking for a guide on how to go about it? In this article, you will find the a-z guide for mini importation.

What is mini importation?

To those that are still confused about what mini importation is; Mini importation is simply buying products from overseas at a cheaper price with the aim of reselling the products locally at a high price in order to make profit. Mini importation does not require any major digital skills but more of your dedication and interest for the business. The major aim is to make profit just like other businesses.

Mini importation (a small scale model of buying and selling) when done properly is very lucrative and easy to start business with a considerable low barrier of entry.

Most mini importers in Nigeria buy from China ( suppliers, manufacturers and companies)

HOW TO START MINI IMPORTATION BUSINESS IN NIGERIA

Guide to Mini Importation

Where to buy?
What to buy?
How to buy it?
How to pay?
How to get your goods?
How to minimize the risks involved?

So let’s take this one after the other.

WHERE TO BUY
Like I said most mini importers import goods from China, this is mainly because items are cheaper to purchase in China compared to other countries and there are varieties of products. So you may be wondering if you have to travel to China to buy your goods. The answer is NO, you don’t need to travel all the way to China before you can do mini importation. Technology has made life easier and processes faster. I will mention three(3) websites where you can buy your products from and these sites are guaranteed legit if you follow the guidelines. They are alibaba.com, AliExpress.com and wish.com. With any of these websites, you can do your mini importation from the comfort of your home.

To purchase on alibaba.com; a manufacturer in China puts his products on the platform and a buyer can go to the platform, search for the product he is interested in, contact the manufacturer/supplier and the website will guide you with the process of payment ones agreement have been reached between the supplier and the buyer. Note that alibaba.com deals majorly with bulk items. That is, if you want to buy in large quantities, this is the best platform to use.

On aliexpress.com; this is like a retail site like you are buying from wholesalers in units or a few pieces.

wish.com; this site is similar to AliExpress.com as goods are being sold in units or few pieces on this platform. All you need to do is visit the site and follow the steps.

HOW TO START MINI IMPORTATION BUSINESS IN NIGERIA

WHAT TO BUY
There are few things to consider when choosing products to buy in mini importation.

Price – be conscious of the price of the items you want to buy, consider your capital and how easy it will be for you to sell the items you are buying.

Size/weight – tend towards buying lighter weight products because of the particular shipping options you will be exploring

Market need – this is another major issue when considering what to buy. You need to check your local offline market, online stores and even across your neighborhood. Consider that the main goal is to rotate capital. You have to make sure it’s what people need regularly. You don’t want to tie down capital.

Profit margin – consider buying price, shipping price and selling price in the market. I will advise you to filter for products that have free delivery to cut down cost.

HOW TO BUY
All you need to do is download the app of the website you want to buy from, search for the product you want to buy and then use the ‘chat now’ button to chat with the supplier.

HOW TO PAY
Never pay for products using bank transfer directly to the supplier. There are procedures of payment on these websites, this is to avoid fraudulent activities and minimize risk. And to purchase, note that you will have to pay in dollars. There are two(2) options you can choose from.
Open a domiciliary account where you can deposit in US dollars and use your dollar card to make purchases.
Use your MasterCard savings account. This is limited to $100 per month.

HOW TO GET YOUR PRODUCTS
You can filter products that have free shipping tags. AliExpress usually sends products to your local post office. You also have the option of using shipping agents where your supplier sends the goods through them and you get your products from them.

HOW TO MINIMIZE RISK
Start by buying smaller quantities to ascertain the quality from the supplier.
Always read reviews of a product before buying.
Never pay for products outside the website/platforms you are using for purchase.
Make sure your supplier labels your goods appropriately.
Do not overstock a particular product until you are sure of the market needs
Have a good mix of products.

HOW TO START MINI IMPORTATION BUSINESS IN NIGERIA

Where you can sell your products;
Physical shop;
Online shop
– using e-commerce platforms such as jumia, konga, jiji, social media platforms; Instagram, WhatsApp.

Strategic partnership to form to be successful in mini-importation;
Shipping agents (they are important partners so build a good rapport with them)
Local logistics company in your area.
E-commerce platforms
Local retailers

What to do;
Establish an online presence across social media platforms, have a website, sign up on e-commerce platforms.
Know which bank has the best dollar rate.
Find out market needs and do your research both online and offline.

I hope you find this article useful as you embark on your mini importation business.

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