How To Start Importation Business In Nigeria: See Guidelines Here
If you want to know how to start importation business in Nigeria, then you have taken a step in the right direction by reading this article. With the internet, business transactions are now made so much easier and simple, even across continents. Most of the goods consumed by Nigerians are imported from overseas. There are many profitable importation businesses in Nigeria that you can start with very little amount of capital. Gone are the days when the importation business is left for the government and the rich in the society. This article reveals how small scale business persons and entrepreneurs in Nigeria can become part of the importation business in Nigeria with very little capital investment. There are many goods that you can import into Nigeria from Asia, Europe, and America at low wholesale price and sell them for a much higher price in Nigeria. This article will tell you all there is to know on how to start importation business in Nigeria. Importation business in Nigeria is already multi billion naira industry. The good thing about starting an importation business in from is that you don’t need huge amount of money to start this very lucrative importation business in Nigeria. There are mini importation businesses in Nigeria that will fetch you cool cash. All you need to do is have a very good plan which this article will help you with. There will be mini importation secretes that will be revealed later in this article, just sit tight and enjoy your reading as you make your way to financial stability in Nigeria. You will be thought in this article on the following topics:
- How to import goods from china to Nigeria
- The goods you can import from Dubai to Nigeria
- Mini importation business in Nigeria 2018
- Profitable importation business in Nigeria
- Mini importation secretes
One other thing that is going in favor of imported goods in Nigeria is that people tend to respect and patronize it more than the locally manufactured products within the country. There is no doubt that importation business is very profitable and lucrative, but for you to be successful, you must learn how to start importation business in Nigeria. You must be able to know what step to take, and when to take such step. You don’t just jump into importation business in Nigeria because you have the money or because your friends are doing well in the business. By the time you have finished reading this article, you will definitely know everything you need to become an international business person or importer in Nigeria.
How Importation Business Works
Before now, the small business owners and entrepreneurs with little capital investment are at the mercy of the big money importers in Nigeria. This is because, most of the manufacturers and suppliers overseas have a Minimum Order Quantity ( MOQ ), which is the minimum quantity of goods that a manufacturer is willing to sell in order to make good profit. With these MOQ, small scale business person or importers in Nigeria find it very difficult to import goods and products from theses manufacturers and suppliers abroad. With the help of the internet, importers with little capital are now able to order for goods at low shipping cost from anywhere around the world. This article is discussing how to start importation business in Nigeria because there is a way you will go about it and your money will be lost in the process.
Things You Need To Get Started In Importation Business In Nigeria
- A valid email address
- A computer or mobile phone that can access the internet
- A valid and traceable office or home address in Nigeria that your products can be shipped to
- Money in your bank account
This simply means that you can order for your goods in Nigeria from any country in the world while sitting in the comfort of your home.
ATTENTION: Private Mail Bag ( PMB ) and P O Box does not qualify as a home or office address.
Requirements On How To Start Importation Business In Nigeria
When learning how to start importation business in Nigeria, these requirements are considered a necessity if you wish to be successful in the business. Before you consider starting an importation business in Nigeria, you must have done the following:
Identify Needed Product
You don’t just jump into the international market and import products that are not needed by Nigerians. You must be able to identify the products that are always in high demand in the country and go for them. You can simply log onto the internet and search for goods and products that are in high demand in Nigeria. By doing this, you have made sure that when you import your goods, the market to sell them won’t be lacking. There is no gain in importing products into Nigeria that you will find very difficult to sell in Nigerian markets.
Once you have identified such a product, it is advisable that you import a little quantity to ascertain its acceptability in the country. Once this is done and it is positive, you can now comfortably place an order to your suppliers for a bigger quantity of the goods since selling them won’t be a problem due to the acceptability of such product.
Where To Get Such A Product
After identifying your product, the next thing to consider is where to import your goods from. You really need to be extra careful here s as not to fall into the wrong hands of fraudsters that claim to be manufacturers and suppliers. There are reliable and well known merchant websites that you can visit for the purchase of your goods. These websites include Alibaba.com, Ebay.com, DHgate.com, ipmart.com etc. You pay and place your order using your electronic debit or credit card. You can also wire the money through bank deposit or money transfer. After you have paid for the goods and the shipment cost, you then wait for the arrival of your goods. If you import your goods through premium courier services like DHL, UPS, etc, you may not be needing the services of a clearing agent.
The Amount Of Capital You Need To Start
As with all businesses, you must know the amount of money you are willing to invest in the importation business in Nigeria. There is no need for you to enter into debt before you can start importation business in Nigeria. You need to start this business with the products that are not expensive and are in high demand in Nigeria. It is always advisable that you start small and then grow your business from there. You must never invest a lot of capital while you are starting this importation business in Nigeria unless there are buyers that are already waiting for the products.
How The Product Will Be Delivered To You
This is one of the few things that get people apprehensive when it comes to the business of importation in Nigeria. There are some goods and products on Alibaba.com and DHgate.com that come with free shipping services to many locations around the world. The disadvantage of these free shipping services is that it takes a long time for your goods to be delivered to you. There is also the risk of losing track of your goods in the course of the delivery process. When security and early delivery is no issue to you, the amount of money saved through these free shipping services can greatly increase your profit potential by the time you sell the products.
Other delivery options although expensive are DHL, EMS and Fedex. With the above delivery options, it is much easier for you to track your goods. The goods are also going to be delivered in a shorter time interval. The only disadvantage is that your profit potential will be reduced. Make sure to include your mobile phone number in the shipping address you provide whether you are using the free shipping option or the expensive faster delivery option.
How To Identify High Quality Goods And Reliable Sellers
We cannot discuss how to start importation business in Nigeria without telling you the mini importation secrets of identifying quality products, as well as reliable sellers. This is arguably one of the biggest challenges of importers in Nigeria. Customer feedback rating comes in handy in this case. The customer feedback rating is a measure of the seller’s reputation. After the completion of every business transaction, buyers can leave a feedback which can either be negative or positive, depending on the experience with the seller. So, there is bound to be more positive feedback for that seller that always delivers the goods as promised.
We strongly advice that you always look at the customers feedback rating whenever you see a product that interests you. Also make out time to read the product description and details, seller guarantees, as well as shipping conditions of every product.
What Happens When You Get Scammed?
There is no business without risk, and importation business in Nigeria is not an exception. When considering how to start importation business in Nigeria, you must also put into consideration the risk of falling into the hands of fraudsters. What happens when you receive the goods and they are not what the sellers or manufacturer has described? For you to get the exact goods you paid for, you must make use of the payment process that has buyer protection mechanism.
All the websites we have listed here have such buyer protection mechanism built into their payment process. This mechanism is called Escrow. The buyer protection mechanism withholds your payment as the buyer until you have received and confirmed the products you ordered are not fake. This is not to say it is 100% scam proof, what we are trying to say is that the risk of you getting scammed is greatly reduced.
It is proven that no business will succeed without a well detailed business plan to execute the business. We also offer a professional business plan services. With us, you are sure to receive a business plan in less than 2 weeks that will attract investors to your business. There are a whole lots of things that the business plan on how to start importation business in Nigeria contains which are very vital to the success of your importation business in Nigeria. For your professional business plan, you can contact us on +2347037281050.