When you hear of mini importation what first comes to your mind, that it means small scale business. Well you are wrong if you think it is all about small scale business, but mini importation is a kind of business that is pocket friendly. What do I mean? I mean that mini importation gives one the avenue to venture into importation business with as little as #10000 and a maximum of virtually any amount you have.
In venturing into Mini importation inasmuch that one can venture into the business with virtually minimal amount, one has to lookout for the happening commodity in other to make maximal profits.
This article will help you know the basic rudiments in starting a mini importation business in Nigeria.
What Does One Needs To Start A Mini Importation Business
The basic requirements for mini importation includes:
1. Personal computer or mobile phone.
2. Fast internet network.
3. A valid email.
4. A valid and traceable address where you can receive the goods.
5. Startup cash as earlier said as little as N10000 and maximally any amount.
6. Get a PayPal account to buy your products ( Not in all cases though).
7. Open a US account with payoneer ( absolutely free).
Step By Step Guide To Mini Importation
There are various steps to follow when one wants to venture into the mini importation business, and they include:
1. Source for products:
This is the very first thing when one wants to venture into the business, sourcing for goods is not difficult and you need to know that most of the suppliers websites you will find the goods you want are China based. It may come as a surprise to you but China based companies produces quality goods at relatively cheap prices. This is the reason why their websites are China based. In sourcing for goods there are a few China based website that are very resourceful and they include:
What one needs to do is to go to any of the website of his or her choice, then create an account with them, confirm your registration. Once you are done with registration, you can check the websites for goods you are interested in.
2. Buy From A Reliable Source:
Just like our everyday world there are suppliers in which their sole aim is to outsmart and deceive people, so it is with mini importation business. One needs to be thoroughly careful when it comes to buying a goods from a supplier.
One can know a reliable supplier from the power of feedback. This is checking the feedback score and rating of the supplier. One can do his by reading customers reviews on the product you are about to ship. This will help eliminate the good suppliers from the bad ones. The ratings are usually 0-100% and 0-5star reviews. It is highly recommended you go for goods with 90% and above rating and at least at 4star reviews to stay on a safer side. Also check the guarantee of the seller on the product before you ship them. This is usually at the bottom of every product page.
3. Pay for your product:
There are several channels through which you can pay for your product depending on the choice of your supplier. They include:
⁃ Master or visa card payments.
⁃ Alipay or PayPal.
One may be afraid they once he or she pays for the goods he would not get the goods. Well there are measures in the website which helps protect their customers called “BUYERS PROTECTION” or “ESCROW”.
Once you have paid for the goods you are interested in, the website with-holds the money until you have received and confirmed that the goods is what you ordered for before the money is released to the supplier.
4. Product Delivery:
Product delivery can come in two forms and they include:
• Premium delivery: They are done by DHL, EMS and FedEx. They are quite expensive when compared to free shipping but are faster and safer. They take between 3-5 days.
• Free shipping: They are done by China mail airport or Hongkong mail services. They are quite slow but increases profits. They take between 14-60 days.
While using the free shipping one has to put his phone number because the goods are delivered to the nearest post office close to you.
5. Market you product:
This is by far the most important aspect of mini importation business because you need to sell what you bought, the sole aim of doing business is making profits and selling your goods will help you make profits. There are various ways one can market his or her goods and they include:
• Word of mouth.
• Brick and mortar retail.
• Hand bills or flyers.
• Local Ads like magazines, newspaper.
• Internet marketing like Instagram, Facebook, Whatsapp.
6. Sell your product and make money:
Once marketing is done, it is expected you begin to receive buyers. One can decide to sell his or her goods in the open market via the popular way or do the sales online by creating an online store.
Selling online requires the individual to work with some courier agents to deliver your product and collect the money. Some courier agents includes:
⁃ Austin dispatch.
Some of the courier agents require you paying a certain for while others are free.
Finally it is worthy of note that just as other businesses has its ups and downs, so also with mini importation business and the key to a successful business is continuity, always restrategize at every given point in time.