How to Start Importation Business
The Benefits you’ll be getting from this information:
How to import things in bulk from USA, Turkey and China to resell in Nigeria for a good profit margin:
- How to avoid buying fake products from China
- How to ship your goods from USA and China faster and cheaper
- How to start a drop-shipping business from the comfort of your home, office or school hostel without spending money
- How to sell the things you imported from USA or China in Nigeria without stress
- How to handle buyers to ensure they keep buying from you and referring their friends and family members to you
- How to source for money to startup your mini importation business if you don’t have money to start
- How to expand your mini importation business to become a multi-millionaire naira business that will employ people
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For Small companies which are starting to establish a name in this industry, it is quite expensive to have your own manufacturing plant that will produce your very own branded clothes.
Some of the small clothing companies started by outsourcing from different manufacturers that massively produce clothes and other kind of textiles and they still do this today even though they can have their own manufacturing facilities. So why are they so passionate about having different subsidiary partners in production in a country like China especially that we are in summer now and many people in the field are looking for cheap online summer clothes now, so let’s check out HOW & WHY they do it.
With lots of known brands, and companies that manufacture their own clothes, Buying cheap online summer clothes is the best option for you to choose these days especially if you are just starting in the importing field and the business of buying and selling in general.
It is already a known fact that it is hard to find a great direct manufacturer for these kinds of goods, but if you have found one, you can consider yourself a lucky entrepreneur. As the demand for these kinds of goods increase, you can always make sure to come out with a great profit and good selection of cheap but fashionable summer clothes.
All You Need To Start Importation Business
To join the new and growing league of small business men and women who can now import products at low wholesale prices directly from overseas suppliers and manufacturers, you would need just the following:
- A computer or mobile phone with access to the internet;
- A valid email address
- A valid and traceable home or office address in your country where the items you order will be shipped to.
- A little money in your bank account. (We’ll talk about this a little later in this article)
Yes, you’re right, that’s all you need!
This means that you can shop for, order and import all the products you want to sell from the comfort of your bed, breakfast table or while you are sitting on a bus (via your mobile phone).
Please note that a P.O Box or PMB (Private Mail Bag) does not qualify as a valid and traceable address.
The basic information You Need To Know Before You Start A Mini-importation Business
I’m going to share some important facts you need to know before you start your own mini-importation business.
- You don’t need to travel outside Nigeria to begin a mini-importation business: we are now in the Information Age and technology has made it pretty easy for us to be able to import goods from other countries without necessarily traveling out of our own country.
- You don’t need to be an internet-guru to run a profitable mini-importation business in Nigeria: what I meant by “internet guru” is that you don’t need to know everything about the internet or be a computer literate before you can start a mini-importation business in Nigeria. Inasmuch as you know how to browse the internet just as you’re doing right now, then you’re good to start a mini-importation business b. You can start this business with a capital as low as 10,000 naira: one of the reasons why this business is called mini-importation is because you can start with as low as 10,000naira. Importing goods such as cars is not a mini-importation business because car is a huge commodity. Mini importation involves smaller commodity such as phones, shirts and the likes.
- You don’t need any license to begin a mini-importation business here in Nigeria: this is another important facts you need to know.
I believe those four facts will encourage you in case you really want to begin this business. Now, the next points I need to share with you are the things you need in order for you to run a profitable mini-importation business.
FACTS ABOUT West Africa Countries On Importation Business
There are 16 countries that make up West Africa. Namely: Benin, Burkina Faso, Ivory Coast, Cape Verde, Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Mauritania, Niger, Nigeria, Senegal, Sierra Leone and Togo and each of these countries are rich in either agriculture or mineral resources.
Do you know that the basic principle behind importing and exporting is based on someone who performs better or worse as compared to what we are doing based on product, function or area of expertise? However, if we are doing better, the best thing to do is export our goods – as determined by price and perceived value.
These Are The List Of Profitable Businesses That Have Been Proven To Be Profitable For SomeYears;
Import to West Africa;
- IPADS/PHONES/BLACKBERRY & ACCESSORIES
- PRINTERS/PHOTOCOPIERS/FAX/ SCANNERS
- NEW and USED CARS
- MOTOR BIKE
- REFINED DIESEL
Export from West Africa;
- COTTON, POLYESTER, TEXTILE
- PALM OIL & PALM KERNEL
- COCOA [RAW COCOA BEANS]
- GOLD & SILVER
- SOYA BEANS & SOYA OIL
- BAMBOO TREE
- SUGAR CANE & SESAME SEED
- GROUNDNUT OIL
- BITTER KOLA / GARCINIA KOLA
- GARLIC & GINGER
- CASHEW NUT
- BONES & HORNS
- LOG OF WOOD – TIMBER from MAHOGANY and IROKO
You need to do a research to know how to go about the business, you can read more articles online, or higher some experts to help you with the market survey.
In Western Africa, the import and export of goods and services is part of life. Below are five different reasons why these people love this kind of business. Exporting goods are natural steps for a successful business in the near future. Export business abates reliance if you have indigenous clients. However, the business also allows greater reach for the market and profits. Yet, as with many things in business to consider, the reality is different when carrying out the different steps involved in the process.
If You Want To Do Business Within Western Africa, Follow The Five Steps Outlined Below:
- Set up your own website, blog and business name
Possessing an import or export business without the website and blog will not allow you to network your business as well. It is best to get the platform to develop your online presence and can grow your own business in your wildest dreams. Your goal in setting up your website is to sell your various products online or perhaps offline. Website can build potential customers that can drive you profits for international business.
- Select products that you want to export or import
There are many products to choose like textiles, souvenir items, and a lot more. However, be sure that these products can attract customers and will sell fast. In terms of exporting and importing, you cannot select all products but you can choose something and dedicate yourself to it. Focus is the key.
- Find the proper market for your products
After finding the right product, it is best to find your market to sell these products. Once you find the right market, this can be a lifetime business breakthrough.
- Find for a supplier
If you want to import or export your product, you have to find potential suppliers so that you can get products from them. You can visit manufacturers and inform them that you are interested about their products.
- Find potential cargo forwarder
Engaging business like exporting and importing needs cargo forwarder services. You have to choose the best forwarders that can take care of your goods and can deliver it immediately right at your doorstep.
In fact, there are many cargo services available like airfreight, Sea freight, Courier, Trucking, and Warehousing. However, your choice depends on what kind of products you want to export or import. Be wise in choosing the services you want for your business.
Business like export and import in Western Africa is not an easy task. However, if you are keen enough about your decision making, this is not impossible to do. To make sure that your products to be exported or imported are in good hands, choosing the cargo service company like Speed Cargo Service GmbH can probably help you.
What You Need to Know When Purchasing Items Online
- One of the important things I need to let you know is that, having registered on any websites, you need to carefully choose the goods you want to buy. A particular goods can have different manufacturers, therefore there prices will vary. So, you need to take your time to scrutinize and check the manufacturer that his goods are cheap before you place your order.
- Another thing you need to know is that some goods have importation cost and some do not have. If you purchase goods that do not have any importation costs, your goods will be delivered in Nipost office and you will go and get your goods there.
Now that you know how to purchase and import goods online, how do you now sell your goods when they arrive into Nigeria?
There are two ways to go about this:
- You can sell them directly yourself
- You can also sell them online
If you have knowledge of how to market your goods, then I believe you will know how to sell your goods yourself.
But incase you don’t know how to sell or you don’t have the time to starting selling what you imported, you can also sell your goods online. There are several websites in Nigeria that makes this possible part of which are konga and jumia. You can sell the goods you import through this platforms at your own price.
For instance, to sell goods on konga you will need to also sign up as one of their members. You will fill in your necessarily details and after that, you will go ahead to drop your goods at their warehouse. If anyone purchases your goods from their website, they will directly credit your account and they will also remove their own commission. And those are just the basic information you need. Now you can start your own mini-importation business now.
Top Recommendations Online Marketplaces That Sell Products At Low Wholesale Prices:
Aliexpress.com has become the leading destination for small scale importers looking to buy goods at wholesale prices from China.
Aliexpress is one of the subsidiaries of the Alibaba Group which dominates internet-based commerce in China.
In fact, in 2012, Alibaba’s portals handled sales of up to 1.1 trillion Yuan ($170 billion), more than its competitors (eBay and Amazon.com combined). The Alibaba Group is estimated to be worth between $55 billion to more than $120 billion.
The Alibaba Group launched Aliexpress in 2010 as an online retail service made up of mostly small sellers offering products to online buyers. It has more than 20 major product categories and sells to registered users and buyers in more than 220 countries around the world. You can visit its homepage at www.aliexpress.com
iPmart.com (started in 2001) is a huge wholesale market that ships products from China, USA and Malaysia. Unlike Aliexpress.com and DHgate.com which have a wide range of products, iPmart.com is focused on electronic gadgets like mobile phones, game consoles and their spare parts and accessories. If you’re interested in technology products, iPmart.com is the place for you. You can visit its homepage at www.ipmart.com
To start shopping and placing your orders on any of these websites, you need to sign up to become a registered member. To sign up or register is usually very easy.
By clicking on the ‘Join Free’ or ‘Register’ link at the top left/right corner of the home page, you will be sent to a registration page to complete a short form. All that is usually required is a Name, valid Email address and Password. If you prefer, you could sign up or register using your Facebook account.
As soon as your registration is complete, you can start shopping and adding items to your cart. When you’re ready to order, you will be led to the Payment page. This leads us to the next important step…
DHgate.com is a business-to-business (B2B) e-Commerce website connecting China-based small and medium enterprises with buyers overseas.
The website is a fast trading marketplace where users can order Chinese-manufactured products directly through the site. The company has been in business since 2004 and is backed by investors KPCB, JAFCO and Warburg Pincus.
It offers customer support through online chat, e-mail messages and phone support. The website is primarily in English but is also offered in other popular languages spoken in Africa such as French and Spanish. DHgate offers a wide range of products and you can visit its home page at www.dhgate.com
How You Can Buy Products Online
Payment was one of the reasons why it was nearly impossible for small businesses to import directly from overseas manufacturers and suppliers.
Banks had to issue a Letter of Credit or Bank Guarantee which often involved a long and complex process.
Today, through easy online payment systems, all the websites we mentioned above accept payment through a wide range of channels. You can do a simple bank transfer or pay with a credit/debit card. Yes, the same card you use at the ATMs can be used to make purchases on these websites.
Just make sure your bank account is sufficiently funded so you can make payments. Fast and easy! No banks or long processes involved!
Just in case you don’t know how to use your ATM, Credit or Debit card to make payments online to help you with this challenge. Enjoy!
Scammed In Importation Business
Scams and fraud have been a big issue in internet-based transactions and e-Commerce for a long time.
What if you receive the products and they are fake or not exactly as the supplier described?
What if you pay for the products but they are never shipped and delivered to you?
How can you make sure that you get the EXACT products you paid for without getting scammed?
Good and important questions!
All the websites we have recommended to you in this article have some form of ‘buyer protection’ mechanism built into the payment process.
This mechanism, also known as ‘Escrow’, is the same role the banks have played in the import business and international trade for a long time. The way ‘escrow’ or buyer protection works is simple. Rather than pay the seller directly, Aliexpress, DHgate and iPmart withholds your payment until you receive the products you ordered and confirm that they are not fake/damaged.
Sites like Aliexpress.com and DHgate.com offer reimbursements and return your money if you are not satisfied with the products you receive. All of this is done to reduce the risk/fear that you’ll lose your money.
We cannot say that it’s a 100% risk-proof process. However, we can say that it’s often unlikely that what you fear the most (getting scammed) will happen.