How to Start a Mini Importation Business in Nigeria 2024
There are lot of business you can start in Nigeria .Mini Importation business is one the profitable business in Nigerian which you can start with low capital wand and grow over time . in this article I will carefully explains to what you need to know about Mini Importation business in Nigeria.
What is Mini Importation Business?
Mini importation business is the small-scale model of buying and selling, where goods are bought at a cheaper rate from the seller, resold at other buyers who purchase at a much profitable rate to the seller.
Simply, mini importation is buying and selling products to people where you take advantage of the rate at which you buy in bulk, to sell at a profitable rate to buyers. Most mini importation business owners buy from countries like China where different types of products are mass-produced, then get imported to their home country, to resell to people.
China being the country with the largest market share, is dominating the mini importation sector because of its wide variety of products which are mass-produced for a relatively low price.
What do you need to start a mini importation business
The list below includes the basic tools required to start a mini importation business in Nigeria. Once you have these things, you are ready to start a mini importation business;
- Your personal computer (PC) or smartphone
- Starting capital of at least ₦30,000
- Your email address
- Your location to receive your goods
- A stable internet connection
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How much does it cost to start a mini importation in Nigeria?
you can start up a Mini Importation Business in Nigeria with less capital expenditure .However, I will advise you to start with #30,000 and scale gradually as your Business grows.
What are the fast selling products in Nigeria?
Find below some classifications and examples of products you can import and sell fast in your mini importation business in Nigeria;
- Fashion products
- Electronics
- Fitness products
- Souvenirs or Gift item
How To Start A Profitable Mini Importation Business In Nigeria;
Make sure you have the basic requirements listed above (ATM card, stable internet etc.) you can proceed. Once you have the needful, follow the steps below on how to start a profitable mini importation business in Nigeria and scale.
Here are the steps you should follow to build a mini importation business in Nigeria;
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Decide on the products you want to import to Nigeria ?
Product knowledge forms a major part of your mini import business. The demand of the products you import determines how successful your business is. Do some research to find out products people actually buy and see if they are available for sale. An easy way to do this is to visit a popular e-commerce website and sort by popular products. Below are some of the product categories that you might import;
- Household items and utensils
- Electronic devices and equipment
- Hair wigs and hair care products
- jewellery
- Computers, mobile phones, fashion accessories
- Cosmetics
- Clothing and apparels
A platform to buy
Having decided on what goods to import, the next step is to look out for a platform that you can buy your goods from. The following are the top-recommended marketplace to buy your goods from directly from the manufacturer at a low wholesale price.
- Aliexpress.com
- Alibaba.com
- 1688.com
- Amazon.com
- Ebay.com
- Digicircle.com
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Place an order and make payment
This is another very important part of your mini importation process and one of the reasons why you need a reliable supplier. Once you have made up your mind about the products to order and have gotten a good supplier, then you to place an order for the items and make payment for those items. Payment might be done using your local account, or a dollar account. Ensure you get a message from the seller about the success of your transaction and the shipment of your order. Take note of the prices of the goods in your local currency and also endeavor to identify different categories of the goods such as color, product type, sizes, minimum of order, weight, and many more.
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Place an order and make payment
This is another very important part of your mini importation process and one of the reasons why you need a reliable supplier. Once you have made up your mind about the products to order and have gotten a good supplier, then you to place an order for the items and make payment for those items. Payment might be done using your local account, or a dollar account. Ensure you get a message from the seller about the success of your transaction and the shipment of your order. Take note of the prices of the goods in your local currency and also endeavor to identify different categories of the goods such as color, product type, sizes, minimum of order, weight, and many more.
Final thoughts
A lot has been said about the mini importation business and as a beginner, you should be careful not to start with expensive goods, buy affordable products that can easily sell, and make your profit back. As time goes on, when you must have gotten a good number of existing customers, you can introduce preorder. Here, you get pictures of fascinating products from the e-commerce website you use, post them on your page for your customers to preorder.