How to Start Mini Importation Business in Nigeria
Starting a mini importation business in Nigeria can be a profitable venture , but it requires carefull planning and execution .Here step-by-step guide to help you get started
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.
Is Mini Importation a Good Business?
Mini importation is a great business to start, especially if you’re young or looking for an alternative source of income. You could even import products and sell it as part of a new product offering.
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
- Your ATM card that works for international transactions (MasterCard or Visa Card)
- Starting capital of at least ₦40,000
- Your email address
- Your location to receive your goods
- A stable internet connection
How much does it cost to begin a mini-importation business?
With as little as N40,000, you can start your own mini-importation business. All you have to do is ensure you have the necessary tools, like a laptop, phone, as well as payment options, and you’re set.