The Unconventional Simple Guide to Mini Importation Business in Nigeria
Sincerely speaking, do you know you can make over $1K monthly through mini importation business in Nigeria? You can start importing hot & fast selling products as low as $5 & resell at higher price from the comfort of your home.
In this guide I took my time to make sure I actually teach you how to start mini importation business in Nigeria, how you can start today, grow and succeed; with less stress. And I’m proud to say this is the only mini importation business resources you will ever need. Alright then, let’s dive right into it.
What is Mini Importation Business?
Before you dab into something you need to understand what you’re getting into. As the title connotes – mini importation business simply means buying products from overseas at a pretty cheap price and resell it at a high price.
It’s simply buying and selling.
Besides, mini importation does not necessarily mean small importation. You can as well operate on a large scale, depending on how boxed up you are.
Is Mini Importation Business in Nigeria Profitable?
Heaven yes! It’s highly profitable; you buy for very little and have the opportunity to sell at a high margin, especially from this part of the world: Nigeria. Nigerians loves imported things, they love flashy and classic products, and that’s one opportunity that’s readily available in the mini-importation business.
Plus the fact that Nigeria just clocked about 201 million in number (unconfirmed census). That’s a lot of needs and demand to be met from such a number of people.
I’ve seen a case whereby a friend bought 20 units of products that cost a total of N18, 500 (shipping & clearing inclusive) and he sold a unit for N10, 000. If you calculate it (20 x 10) = N300, 000… Just from an initial investment of N18, 500.
Do You Need a Lot of Money to Start Mini Importation Business?
It is true that we should count our cost before we start building. But if you’re concerned about the money, thinking you need a lot of money to get started, I’ll need you to please scrap that thought now.
Or maybe you’ve heard that the industry is oversaturated, so no need venturing into it. Well, information they say is power…. I’ll like to add that right application of the information is more power.
With as little as N10, 000 you can start making 6 figures within few months (fact not fiction). All you need is just to be educated about this business, and be ready to do the required work (your part) and vola! Everywhere Stew! J
Mini Importation Business in Nigeria – How it Works
The business model of mini importation in Nigeria is almost the same in any part of the world. Although, Nigeria as a country has her own peculiarities and that’s why I’ve decided to focus on Nigeria in this guide as our case study.
So read on, as I’ll be addressing everything that’s peculiar to operating a mini-importation business in Nigeria.
Mini Importation Business in Nigeria – What you need to Start
Actually, you already have what is required. And if there are some things missing. You can easily get them, and with the right information you are good to go.
Here is some couple of things needed:
- Positive mindset and determination
- A personal computer (PC) or Smartphone
- Reliable and fast internet access.
- A valid email address.
- Legitimate and traceable home address where you will receive the item you order.
- A working ATM card (Visa or MasterCard).
- Few cash to get started (as little as N10,000 or more if you have)
There you have it. With all these, you can start your mini importation business in Nigeria. The interesting part of this business which I cherish so much is the fact that 90% of what you need to do can be done on your PC or Smartphone. Meaning you can actually refer to this as an internet business.
How to Start Mini Importation Business in Nigeria
Now that I’ve covered all the basics, here’s my step by step guide to mini importation business in Nigeria:
- Understand Peoples Need
- Source for fast & selling products that address needs
- Order from a reliable supplier/procurer
- Processing Your Payment
- Receive Product (Delivery)
- Market, promote and sell your products
- Finally, sell your products and make money.
Step #1: Understand Peoples Need
When starting as a newbie importer, don’t follow the multitude to promote same product. Try and distinguish yourself, find your voice, sell to make money and not for the number.
Defining your audience is the first of the five fundamental principles to success in business. You will need to research and get answer to this question- “what need is out there that you can solve by importing a product to sell as solution?” Your candid answer to this question will help you define your audience and steer you to importing product that will sale fast and be highly profitable.
Having a defined audience as a result of understanding peoples need gives you a great understanding of the best product to import and sell.
Quick Tip: You can get started quickly by selling products in any of these niches; you stand a higher chance of success.
Health–my favorite niche anytime, any day and the reason is simple, we all want to live foreverJ. Any product that solves health-related problems will definitely sell.
Consumables – things used regularly and needs to be bought over and over again.
Safety Products– just like health, we all want to feel secured and safe. Products that guarantee safety will equally sell.
For more insight and how to make it big importing products from China,
Check Our Mini Importation Wealth Course.
Step #2: Source for fast & hot selling products that address needs
After understanding peoples need which is the starting point, the next thing you need to do is to source for your product. Here is what you should know.
Importing from China is the way to go.
You probably might be thinking why China? Well, China is the number one source for quality, cheap, hot and fast selling products around the world. You can call it an international warehouse or manufacturer.
There are several websites where you can order online especially from China (Alibaba, Aliexpress, Taobao, Tmall, 1688 etc). My preferred and recommended site for mini importation purpose is 1688.com. This is by far the only Chinese website where you can get offers at a very low price.
Unlike Aliexpress and Alibaba that are in English, 1688 is in Chinese. You will need to translate to English before you can browse the site. The conversion rate to Nigeria naira is relatively low @ N59 to Y1 which is favorable compared to dollar exchange rate.
To buy on this site, you’ll need the services of procurement agents (middle men) who already have account on the site to help you with your orders.
Step #3: Order from a reliable supplier/procurer
This step is very important and shouldn’t be taken lightly.
Before you make a purchase from any supplier/procurer make sure you check the feedback score and rating for that supplier/procurer. You can always scroll down below the products to read customer reviews on the product you’re about to ship.
Step #4: Processing Your Payment
Payment used to be a hindrance in the past years, because there are no easy means of paying online. But thanks to the internet; everything is a lot easier. Back in your house in Nigeria, you can make payment for products in the US or anywhere around the world.
There are several channels through which you can pay for your products, but they differ with suppliers. Some suppliers allow Mastercard or Visa card payment, some PayPal or Alipay.
When buying from 1688, the experience is a little different because of the language barriers. You will need the services of procurement agents (middle men) who already have account on the site to help you with your orders.
These guys have Nigerian bank details where you can pay for your orders and shipping charges.
Check for more details here
Concerned About Being Scammed?
Are you wondering, what if you pay but you never receive your products? Or you pay, and the product is different from the description in the websites?
One thing you should know is that, you really need a good direction to know the best procurement agent to work with and interestingly, these websites have some measures in protecting customers. It’s termed “buyers protection” or also known as “Escrow”.
The Escrow or buyer’s protection is a measurement put in place by the websites to protect both buyers and sellers.
In rare cases when your product happens to be different from what you order there is “Dispute form” that you can fill, and your money will be reimbursed.
NOTE: I’m not saying its 100% risk-free but it’s very rare for situations like this to arise.
Step #5: Receive Product (Delivery)
Product delivery usually comes in two methods. This includes:
Premium/paid delivery – these deliveries are usually done by EMS, FedEx, and DHL. Although it might be expensive compared to free shipping but it’s always faster and safer. (Between 3 – 5days)
Free Shipping – usually slow but increase profits (between 14 to 60days) but most time it’s usually delivered between 20 to 30days. The service company can be China Mail Air Post or Hong Kong Mail services.
While the free shipping may be free you should know tracking it might not be entirely accurate compared to the premium shipping.
Step #6: Market, promote and sell your products
I must say this is actually the most important aspect of the every business. Doing business without marketing is like winking in the dark, no one will see you. Its one thing to successfully order your product and it’s another thing to successfully market them.
Some of the few creative and updated ways to promote include:
- Brick and mortar retail
- Online eCommerce store
- Word of mouth
- Handbills or flyers publicity
- Local Adverts. e.g. Newspaper, Magazine
- Social media marketing
- Internet marketing
- Affiliate marketing.
There are several ways you can choose to market your business and this alone on its own it’s a full course for another day.
Step #7: Sell your products and make money
And finally, as soon as you begin and continuously market your products, potentials buyers are going to start rushing your way.
Remember the first step I itemize: understand peoples need. If you didn’t skip that part, the knowledge acquired at that level will direct you towards the right audience that your product is made for.
You can also create an online store for your products or utilize platform like Watakara, Konga or Jumia and list them online or do it with the popular method if you don’t want to create an online store.
For the latter part, you need to work with some courier agent to deliver your product and collect your money on your behalf. Amongst them are:
- Austin Dispatch
- Courier plus
- GIG Logistics
- skyNet etc.
Some of them will require you to pay a certain fee to get started while some are free.
But there’s more…
As much as I tried to cover all in this guide, there are some business aspects that you need to know more, either as a beginner or you want to grow your mini importation business.
We at STBI have a Master Guide on How to make over $1k Monthly Importing and Selling Hot & Fast Selling Products.
It’s a comprehensive video guide to mini importation and e-commerce business, guiding you to make 6 – 7 figures/month importing products from China and selling in Nigeria without leaving your house….. Nothing Hidden!
The thought of making tons of money with mini importation business opportunities is elating. However, as it is typical of any new business startup, you need the right measures of ingredients to make sure it works.
And I believe I’ve been able to show you enough to successfully start and profit from your mini importation business in Nigeria.
Take Action, Start Today!
There may be hiccups along the way which is typical with those just starting, but once you get the right formula going, your business will only keep soaring to greater heights. The most important thing is to keep working at it.
If you love what you’re doing and it’s something you want to improve on continually, then you can have a more secure footing in the mini importation business. Give the best customer service that you can, keep updating yourself with the latest in mini importation as this will set you apart from others.
Are you ready to start your Mini Importation business in Nigeria? You will find this very necessary: MIW Package.
Do you have experience in the mini importation business? What strategies did you employ that I didn’t mention in this guide? Or do you have any further question? Use the comment section below.