Are you interested in starting a mini importation business from the comfort of your home, but you do not know how to get started? You’re not alone. That’s why we’ve created this complete guide on how to start an online mini importation business.
Some years back, it would require a considerable amount of money to start a mini importation business, as it required a substantial amount of wealth to begin.
These days, just about anyone can be a millionaire through the mini importation and sales of goods from countries like China and the rest.
If you’re thinking about going into the mini importation business – one of the top business ideas in some countries like Nigeria, this article explains the necessary steps to take and what the mini importation business entails. And most importantly, what’s required to be successful at it. So all you need to do now is pay attention.
What do you need to start this lucrative importation business in Nigeria? Well, it’s nothing you don’t already have. And if you don’t, they’re something you can easily get.
What is a Mini Importation Business
To better understand all that entails in a mini importation business, it’s necessary to understand its basics.
The mini importation business is simply “buying and selling.” These goods are purchased overseas at a relatively low price and resold at a high price in your country of choice. You are buying products mostly in bulk and reselling at a price to make a profit.
Mini importation does not necessarily mean small importation. It all depends on the size of your pocket. In a mini importation business, you can begin with just any capital you have.
The requirement for Starting a profitable Mini Importation Business
Laptop or Computer and Mobile phone
Internet access – Modern/mifi
Substantial Capital depending on your choice of goods.
An email address
Valid and traceable home address where you can receive the item you will order.
Get a PayPal account to buy your products (not in all cases, though) or a MasterCard/Visa card.
Facebook or Instagram Account (For marketing)
With all this, you can start your mini importation business in Nigeria. The best part of this business that I like so much is that 90% of what you need to do can be done on your PC or mobile phone. So you can call it an internet business.
How to Start a Mini Importation Business
Choose a Product to sell
This is a crucial part of the business. There are several products to dive into in the mini importation business, and if you have the capital, you can start big by selling multiple products.
There are several products to delve into, such as electronics, clothes, furniture, etc. Still, for someone with low capital, you can find something that your capital can purchase and work your way up, like Phone casing, earpiece, phone chargers, etc.
Source for Products
After you must have selected your products you are interested in selling, the next thing to do is find a supplier who will supply you with the products.
Here is what you should know. Most of the supplier’s websites are China-based. You probably might be thinking, why China? Well, China is the number one source for hot and fast selling products around the world. You can call it an international warehouse or manufacturer.
So how can you source for your product?
I recommend a few of the popular China-based websites that are very resourceful for that. They include:
Now, head over to the above website and create an account with them. Also, make sure you confirm your registration. Once you are done with the registration, browse around the website, and check for products you can buy and resell in your country.
Buy from Reliable Supplier
This might be the most important part you shouldn’t take lightly. You want to make sure the goods demanded are quality products.
Some sellers or suppliers are careless of shipping inferior products to countries like Nigeria because there is a lack of restriction on China’s inferior goods. But instead of being a victim of this, there are ways you can outsmart them. This is called the power of feedback and reviews.
This simple method will help in filtering the bad from the good suppliers. The feedback rating is a powerful measure invented to protect customers from buying counterfeit products. You can always check if the supplier delivers products after payment.
Paying for the Products
In the past years, this used to be the hindrance of venturing into the importation business. But thanks to the internet, everything is now easy. In the comfort of yours. The home you can make payment to a supplier in the USA or anywhere around the world.
There are several channels through which you can pay for your products, but they differ from suppliers. Some suppliers allow Mastercard or Visa card payment, some PayPal or Alipay. Ensure that you fund your account for the goods you’re about to purchase so that payment can go through. This is the only way to ensure that your products will be shipped to you.
How are Goods Delivered
Goods are usually delivered in two ways :
- Free shipping/Normal Shipping: This process takes longer, but it increases your profits. It takes within 20-30days when using the free shipping method to have your goods delivered.
- Premium or Express Delivery: In this process, deliveries are done by external logistics (DHL, FedEx) companies and take within 3-5 working days to deliver goods. Although this method might be expensive when compared to free shipping, it’s faster and, in most cases, safer.
Goods delivery is why a physical location of where you want the goods delivered is necessary. You’ll be contacted once your goods are close in other to ensure that your goods get to you. Besides, while using the free shipping method, you should always endeavor to put your phone number. This is because they are always delivered at the nearest post-office close to you. With this, you can be easily contacted whenever your shipment has arrived.
Marketing Your Imported Products
After your goods have been delivered to you, selling them becomes a priority. Your goods need to be advertised before they can be sold, and with the same help of the internet, you can display your products.
This is by far the most important aspect of the business. It is one thing to order your product successfully, and it’s another thing to market them successfully. Nobody is going to know about your products unless you take them to them.
There are online stores where you can register to become a supplier of certain goods stores such as Jumia or Konga and the likes. You can start using your list of contacts and friends and family to advertise your goods or on Facebook & Instagram.
Selling Your Goods
Finally, once you are done with the marketing, obviously, potential buyers will start rushing your way. After you’ve chosen how you want to sell your imported products, you’ll be needing the services of a courier agent. They will further help you deliver your goods and recoup your funds. You can work with many reliable courier agents in your country with a quick google search on logistics companies may do! Some of them will require you to pay a certain fee to get started, while some are free. You need to find one and start delivering your products to your customers.
The mini importation business is one of the most lucrative businesses to delve into this year. It is one of the many businesses that can be done at the comfort of your home without expert skills required.