Complete guide on how to start a mini importation business in Nigeria is an article you need to read if you are interested in the business. In Nigeria, mini importation is regarded as one of the most lucrative business ideas in the country today. Many individuals realize how lucrative this business of importation can be and have switched into action ever since, even prior to this moment.
The good thing about starting up the mini Importation business in Nigeria is that you can start with as low as about 30,000 naira, a little more or even less. This however depends on how big and successful you want the business to be.
Thus, once your desire to know how to start a mini importation business in Nigeria, it’s essential you carefully read and understand this article as well as do well to follow the helpful guide and steps listed.
What is a Mini Importation Business
A mini importation business is a an online and offline business where an individual buys a product from overseas like China or Japan or USA at a cheap price and re-sells it at a higher price for profit.
How Does a Mini Importation Business Works?
The mini importation works in different forms. Starting by making orders through a vendor outside your country to receiving the goods and clearing all import duties. Mini importation is a more advanced type of small-scale business that lets you acquire or import goods from other countries straight from the manufacturers at a reduced cost.
Most small importation business owners purchase their items in countries such as China, the US, and some other parts of the world, where various types of products are mass-produced in large quantities, and then import them to Nigeria to resell to consumers.
How to Start Mini Importation in 6 Steps
There are various, yet very easy steps you can take to start mini importation business in Nigeria, they include:
- Select the Products to import
- Choose the site/marketplace where you can purchase from
- Locate the vendor
- Place an order and make payments
- Select the product delivery channel
- Find out ways to market your products
Step 1- Select the Products to import
This is the most important aspect when it comes to Mini Importation Business. How successful you are in business is determined by the things you import. As a result, you’ll need to perform some study to figure out what kinds of items people actually buy these days and whether or not they are marketable.
To make things easier for you, go to any prominent e-commerce website and sort by popularity for items that are in high demand. Some of the product categories you might desire to import are listed below. After that, you should think about how much turnover you get from the stuff when you sell them.
- Appliances and electronic devices
- Computers, cellphones, and fashion accessories are just a few of the items available.
- Hair wigs and hair products are available.
- Jewelry\cosmetics
- Underwear and clothing goods
- Accessory items for clothing (shoes, bags, belts, caps, etc)
- Utensils for the home and the kitchen
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Step 2- Choose the Site/marketplace Where You Can Purchase
After you’ve determined what things to import, the next step is to find a site where you can buy them. The following are the top-recommended marketplaces for purchasing your goods at a low wholesale price directly from the manufacturer.
- Aliexpress.com
- Alibaba.com
- Amazon.com
- eBay.com
- Digicircle.com
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Step 3- Locate a Vendor
The pillar of your tiny importing business is a good supplier. Most suppliers lack communication skills and a delayed response time, and you wouldn’t want to conduct business with a non-competent supplier.
In order to prevent getting completely irritated by a lousy supplier, you must carefully source a dependable supplier.
Step 4- Place an Order and Make Payment
This is another crucial aspect of the Mini Importing business, and one reason why you need a trustworthy provider.
Once you have decided on the things to order and found a reliable provider, you can place an order for them and pay for them. Payment can be made with either a local or a dollar account.
Find out that you receive notification from the seller regarding the completion of your transaction and the shipment of your goods. Take notice of the costs in your local currency, as well as the many categories of items, such as color, product type, sizes, minimum order quantity, weight, and so on.
Step 5- Select the Product Delivery channel
Product distribution comes in two forms in the mini importation sector. This includes::
- Free Shipping – This approach is usually sluggish, but it gets to enhance profit because it takes between 14 and 60 days to deliver, although delivery is done between 20 and 30 days most of the time. China Mail Air Post or Hong Kong Mail Services are two options for service providers. Also, try to include your phone number. This is due to the fact that they are always delivered to the nearest post office. This allows you to be quickly notified when your shipment arrives.
- Premium Delivery – establishments like DHL, EMS, and FedEx are the most common carriers for premium deliveries. This sort of delivery is more costly than free shipping, but it is faster and safer. The time it takes for a product to be delivered is usually between 3 and 5 days. While free shipping is convenient, you should be aware that tracking may not be as accurate as premium shipping.
Step 6- Find out ways to market your products
Now that everything is in place and you have the knowledge of acquiring your products, it’s time to begin selling them before they arrive.
There are various approaches you can take to do this:
- You can make use of Instagram, Facebook, and other social media platforms for marketing online.
- You can also make use of e-Commerce websites like Jumia and Konga.
- Word-of-mouth marketing
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Things you need to know about Mini Importation Business
Regardless, there are a few things you should have or know before embarking on a mini-importation venture in Nigeria:
- A decent internet connection on a personal computer or smartphone
- Contact and address information that is correct
- Agents tasked with inspecting the items
- Capital for business
- The platform for purchasing things
- The platform for the sale of commodities
Before you start the mini importation business in Nigeria, ensure you’ve done your research, got all the above items available, and then carefully follow the steps below to learn how to establish a mini importation business in Nigeria and sell like a pro.
How to choose a Dependable Supplier for Mini Importation Business
Here’s how to go about choosing a dependable supplier for your mini importation business in Nigeria:
- To make your decision, you must compare the reviews of previous customers who have purchased from the suppliers who offer on the eCommerce site you intend to purchase from.
- You guarantee your supplier understands and speaks English because you will purchase things from other nations.
- Find out if there is a communication channel available 24 hours a day, 7 days a week.
- Check the number of sales accomplished.
- See if the supplier is in it for the long term or simply for a quick buck.
- Check to see if the supplier replies to your inquiry in a timely manner.
What You Need To Begin Your Mini Importation Business
All you have to do or begin with the mini-importation business are things you already have or can get at just a single snap of your finger.
In no particular order, here’s a list of all you need to start:
- A computer or a mobile phone;
- A dependable internet connection (modem, Wi-Fi, MiFi, etc.);
- You need a valid address to which your goods can be delivered;
- A valid e-mail address is required.
- Capital for a new business.
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Why Should You Consider a Mini-Importation Business?
Here are some good reasons you should consider a mini importation business:
- Importing can be a part-time job for you while you continue to work full time.
- With only one successful import, you can cover your entire year’s wage if you find the correct product and market (depending on what you earn anyway).
- If you have good negotiation abilities, you can get cheaper things than your competitor. Even if you think the things are inexpensive, you don’t have to pay that precise amount. You can go even further by haggling prices with suppliers, which will increase your profitability in the long run.
- Because the more you get into the business, the more exposed you will become to different prospects in the tiny importation sector, some importers prefer to meet their financial goals on time.
How to Start a Mini Importation Business in a Small Scale in Nigeria
1. Determine a product niche
This is an important aspect of the business. The tiny importation industry offers a variety of niches to explore, and if you have the financial resources or source for a startup financing, you may start off big by committing to a number of different products.
There are many product categories to explore, including electronics business, apparel, furniture business, etc. However, for someone with limited capital, you must start small and work your way up.
2. Products’ Source
You must first choose a market for the things you want to sell before you can find a supplier to provide your products. With the assistance of the internet, finding suppliers has become easier these days. Many online retail businesses offer a wide variety of goods that can be purchased and sold in Nigeria.
You need to find one, sign up with it, and start purchasing. Numerous reliable online retailers exist, including Alibaba, Amazon, AliExpress, DHgate, and others. Selling on these platforms will give you a daily income business, you can rely on. So, by doing this rightly, you have already chosen the best fast moving small scale business for yourself.
3. Purchasing from Supplier
The following step is to purchase your goods from your provider. Selecting a trustworthy source is a further crucial step to assure in this situation. Make sure the requested commodities are high-quality goods.
Examining customer evaluations and feedback is a good approach to confirm this. The reviews and suggestions of previous consumers can help you decide whether to proceed with a purchase or not.
4. Purchase the Goods.
The final step in making sure your items reach you after making a purchase. Previously, paying for imported goods was difficult.
These days, the procedure is smooth thanks to the internet and a debit card. Ensure that you have enough money in your account to cover the cost of the items you are about to purchase. The only way to guarantee that your items will be delivered to you is to do this.
Delivery Methods for Mini Importation Goods
There are typically two ways to deliver goods:
- Free shipping: This procedure requires more time. When selecting the free shipping option, delivery of your goods takes between 20 and 30 days. You can also check out the problems of delivery business and solutions suggested.
- Premium or Express Delivery: In this method, deliveries are handled by outside logistics firms and are completed in 3-5 working days. Depending on the goods you choose, it is best to factor in the cost of deliveries along with the products. You are free to select the best delivery option for your goods.
Note: A physical address of where you want the products delivered is required for goods delivery. The address where your items will be delivered is known as the physical location. You will be contacted in order to ensure that your things reach you.
Marketing of Your Mini Importation Goods
Selling your products becomes a priority once you have overcome the challenges of choosing a niche, buying your goods, and having them delivered. Before your things can be sold, they must be advertised, and you can do so through the internet by putting them on display.
There are online retailers like Jumia or Konga where you may register to become a supplier of specific goods, just like you can with dropshipping in Nigeria. You can begin by promoting your products by reaching out to your network of contacts, friends, and family.
Selling Your Products Mini Importation
This is when the procedure comes to a close. You will require a courier agent’s services once you’ve decided how to sell your imported goods.
They will assist you in delivering your items and recovering your money in addition. You can work with several trustworthy couriers in Nigeria. Simply locate one and begin sending your stuff to your clients.
What Are The Fast Moving Products In Nigeria You Can Import?
1. Shoes, Bags, Wrist Watches, and Clothing
These are some of the most basic requirements of people all throughout the world. Regardless of the competition, you cannot go wrong with these products. These things have a ready market, and you will always find clients willing to buy them. You can purchase these goods for a low cost and resale them for a profit.
2. Gadget/Electronics
With no doubt, Nigerians are technology freaks. Although some Nigerians are wary of Chinese phones, they prefer other Chinese products.
Here are a few examples:
- Speakers with Bluetooth
- Wireless Headset with Smart Bracelet
- Led Toilet Light
- EarPods with Bluetooth
- Torch Light with Super Bright LEDs
- Cup Holder (Warm and Cool)
- Phone Charger (Wireless)
- HD Projector Bracket for Mobile Phones
3. Body Fitness Products
We live in a time when everyone desires to stay in shape. You can invest in goods that will assist them in achieving their ideal bodies. Some instances are as follows:
- Body Shapers
- Waist Trainers
4. Items to Give as Gifts
Nigerians are known for their love of parties. There isn’t a Saturday that goes by without someone throwing a party, especially in Lagos. One difficulty that party planners encounter is finding the correct present items to give to their guests.
How much does it cost to start a mini importation in Nigeria?
A mini-importation business does not cost much considering the fact that you will start with cheaper goods and in smaller quantities equally. With just N15,000 or even less, you can start the business and scale through with your hard work and determination your succeed.
How Do You Become an Importer in Nigeria?
To become an Importer in Nigeria, you must do:
- Ought to gain a certificate of incorporation or register the company name in Nigeria.
- Whilst you are on verification of tax payments, register the business with the Federal Inland Revenue Service (FIRS) and get a Tax Identification Number (TIN).
How can I start import business from China to Nigeria?
You can start by following these steps below:
- Select the highest in-demand products and goods
- Go for business registration and get your CAC
- Look for people already importing from China to ask questions about all it takes
- Research and find a Chinese supplier
- Order the products you need from China to Nigeria
- Make Payment to the appropriate channel and platform and have your receipt
- Ship and track your goods
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Conclusion
There has been a lot stated about the mini importation business, and as a beginner, you ought to be careful not to start with expensive goods.
Instead, what you do is purchase products that aren’t expensive which you can easily sell, and recoup your profit. You can implement presale as time goes on once you have amassed a sizable number of existing customers.
Here, you gather images of intriguing products from your e-commerce website and display them on your page for customers to pre-order.
Frequently Asked Questions
Is Mini Importation a profitable business?
Yes, the Nigerian mini-importation industry is quite lucrative. You can start with as little as #50,000, but always keep in mind to choose products that are in high demand because you’ll sell them more quickly and earn a lot more money this way.
Most importantly, shop from a trusted source to prevent online fraud. Miniature importing is one of the many small scale businesses one might start. You have to take risks in life; you have to do it the right way to get profit.
Why do people like purchasing products from China?
There are numerous nations from which to purchase things, but China is the best choice because China, in particular, produces the majority of the world’s goods.
In a nation like China, the wages you receive are likewise very low.
- Chinese manufacturing is highly regarded.
- They are excellent product designers.
- China has more highly developed production facilities than the majority of other nations. It’s always preferable to others because of this.
What goods are the hottest sellers in Nigeria?
There are many goods that are currently in high demand in Nigeria. With some of these items, you could launch a small importation business and start making money in one day. The items are;
- Toiletries.
- Bags
- Shoes
- Jewelries
- Hair extension and hair ornaments.
- Clothing,
- phone accessories,
- teeth-whitening products, etc.
What is the estimated delivery period for imported goods?
It depends on the seller’s choice of packaging method. While some methods don’t require much time, some do.
As a result, the shipping business you select is equally important. Your goods can be delivered in 4 to 8 working days by some businesses like DHL, FedEx, etc., but this choice will cost you.
I want to start a small import business in Nigeria. Do I need a physical shop?
Due to the lack of a physical store, the majority of people are deterred from starting mini importation businesses.
You can start your importing business right now without having a physical location or looking for how to choose the right location. You may get started right now from the comfort of your own home.
