Do you want to know how to start your mini importation business in Nigeria? If interested, continue reading this mini importation guide. Firstly, What is Mini Importation Business? Mini importation is basically the process of bringing in goods or products from other countries, usually in wholesale or retail quantities, to sell in your own country.
Of course, there is more to the whole process than what meets the eye and that is what we will look at in this post. We will also come to understand why and how mini importation is quite popular amongst small scale businesses and what it has to offer.
Before we proceed, let us take a look at how mini importation works in Nigeria. There are a few things that you will need to know if you are new to this business.
Mini Importation Business In Nigeria
In Nigeria, mini importation is widely recognized and even accepted as a major source of income for businesses of all scales, from small models to larger corporations. There is usually a misconception that only small or cheaper goods can be ordered using mini importation services. Nothing could be further from the truth.
The reason many people today venture into the mini importation business is mainly because it does not require large capital to start up. As a matter of fact, here in Nigeria, with as low as NGN 10,000, a mini importer can begin a lucrative business, bringing in no less than six-figure incomes in a few months’ time.
Majorly in Nigeria, people import from countries such as China, the United States, Turkey, and Dubai. Nigeria has access to lots of mini importation channels and this has helped to even the playing field for all businesses that depend on mini importation. The major country that Nigeria does mini importation with is no other than China.
This should come as no surprise considering that China is an industrial and commercialized country. Many sellable products coming into Nigeria today usually come from China and they do so through mini importation channels.
Many mini importation channels allow for the ordering of goods worth millions and hundreds of thousands which in turn can enable you to reap hundreds of thousands or millions in profit; you can sometimes earn as high as 200% (two hundred per cent) in profits from a mini importation product worth millions or hundreds of thousands to get.
For instance, many importers source perfume oil and clothes from Dubai, beautiful Islamic and modest wears, designer shoes and bags from Turkey and China is for any kind of products you can think of under the sun, the sky is your limit, though getting quality products is another case.
You have to do intense research to get quality products and hidden gems from China. Let us look at mini importation in Nigeria and what and what you need to run a successful mini importation business.
What are the requirements?
Wanting to start a mini importation is all well and good, but before you venture into any business, you must ask yourself if you have the right tools to begin.
Do you meet all the prerequisites to running a mini importation based business? If you don’t know what the requirements are, fear not, we have got you covered.
Below is a list of the things that are essentially required to start and run a successful mini importation based business.
- A device that can access the internet; it could either be a laptop, PC, or even your mobile phone.
- As long as you have a good and steady internet connection, you are on the right track.
- An email address that is valid.
- A traceable and valid home address, where your packages can be delivered (not compulsorily as you might decide to go and collect your goods from the shipping company instead).
- CASH; money is a strong influencing factor; you don’t need to have a lot; for as low as ten thousand Naira, you are good to go.
- To be on the safe side, if you do not have a PayPal account, you should do well to open one. Although this is not required in all cases, it is better to be safe than sorry. This account is best for buying products especially from countries like the United States).
- You can also open a bank account in the US using Payoneer. This process is completely free.
With all these things in order, you can boldly begin your mini importation business.
READ ALSO: IMPORTATION FROM DUBAI TO NIGERIA
How To Start Mini Importation Business In Nigeria
- Find out what importation or mini importation is and how it is done in Nigeria.
- You need an android phone, a laptop if you can afford it, a fast or manageable network at least, and an e-mail address. Note that the requirements might be more depending on the country you want to import from. For instance, if it’s the United States you’re importing from, you might need a PayPal account or a valid U.S address.
- Research different kinds of products and select the ones you’re really interested in importing.
- If you want to make your research easier, you can always go ahead and choose from trending products that are being sold and are known to be yielding great profits. However, you have to be careful with this kind of products so they get saturated on time.
- After selecting your products, make research on the profitability of the products, whether they’re selling really well and if the profit margin is worth the trouble. You can use our mini importation calculator to help with your profit calculations
- Find out about the countries where goods can be imported from at very cheap prices.
- Identify the best shipping companies that can help you send your goods from the import countries.
- Find out if there’s need to pay custom duty on any of the goods and how much.
- After this, you’re all ready to start importation business in Nigeria.
How To Import Goods From China to Nigeria
This segment shows how to carry out mini importation activities from China since it is Nigeria’s number one mini importation product supplier. Let us look at some things that are needful even as you import from China.
Understand Your Rights
The moment you register as an importer, you will become a courier. DHL deliveries and other shipping deliveries will be carried out by the companies. Your sole responsibility is to get the package/ packages and have them delivered to your customers.
Types and Source of Product
As a mini importer, you will have to take extra care to be sure of what is it you want to import. To achieve this, you would have too to look at the needs or market demand in your sales vicinity.
Once that has been done, you would require a good source of supply. This is the trickier part, as most mini importation websites have a myriad of sources or suppliers from which to choose, and choosing the wrong source can be detrimental to your business.
Luckily you can distinguish the good sources from the bad, based on their ratings.
As the importer, it is your responsibility to ensure that whatever product you are importing to the country is not illegal or contraband. You should take note of the ten-digit tariff classification for whatever item that you are hoping to import. Doing this will allow you to be aware of how much you will pay as clearance fees for the products that are being imported.
Tracking Your Goods and Transport
This is where the cost of mini importation rests. A significant amount of money is spent in order to transport your goods, especially from China. You will have to keep an eye on freight-related documents, such as; commercial invoices, bills of landing, and packing lists.
Arrival and Receiving of Goods
After spending a few days in coming to Nigeria, your cargo would have finally arrived. In this stage, you will have to wait for your package to undergo some inspection at the custom’s board and then if necessary, undergo quarantine.
After all legal processes are complete, you will now have the right to pick up your shipment. A much easier method you can use is to use procurement companies that help in purchasing and shipping goods from China to Nigeria.
These companies handle everything for you till it gets to Nigeria, the only thing you need to do is to search for products they’ll help you to buy, pay them for the goods and importation and you go for collection when it gets to Nigeria.
Examples of such companies are Chrisvicmall and Digiville Logistics and they have great services. Note that you’ll still be the one to find the goods you want to buy and research the quality as they won’t be responsible for that.
Mini Importation Websites and Best Sites For Mini Importation
In Nigeria, there are lots and lots of mini importation sites online that are in use by importers all over the country. There are, however, a few sites that stand out, which Nigerians have taken a liking to and have become the go-to sites for Nigerians in this business.
This list is based on recent findings and research.
- New Egg
- Ali Express
- Ali Baba
- Ever Buying
- DH Gate
- IP mart
- Dino Direct
- Cellular Country
- Made in China
These are the best sites for mini importation in Nigeria we could find. They are basically all the same, but what sets them apart is their standard and delivery speed.
Note that not all the sites mentioned on this list are the best for carrying out China-based importation; sites like Ali Express, Made in China, 1688, Alibaba, Taobao and Tmall, are the best for importing goods from china.
To find out more information about mini importation especially from China, check out Chuk’s post on mini importation secrets.
We sincerely hope that with this info, you can have been inspired to thrive in the mini importation business.
Most importantly, thanks for mention. Really appreciate that.