Importation business is one of the most lucrative businesses you can venture into in Nigeria, this is due of the huge turnover which this business promises.
There are two types of importation business.
This is the type of importation where you physically have to travel abroad to buy your goods and then ship them to the country at your cost. This includes paying custom duties and other shipping commitments you have to meet up to. In manual importation, you can also have someone abroad who purchases the goods and does the importation for you.
In this type of importation, you do not need to travel abroad or have someone abroad doing the purchasing for you. All you need is a computer/mobile phone with internet access. The seller displays their wares on a merchant site and you the buyer, orders for the goods and pay online. Shipping cost is levied on the buyer, while shipment and delivery is the responsibility of the seller but in virtually all situations, paid for by the buyer.
In this article, we share with you a few vital tips on how to start both modes of importation business.
How to Start Manual Importation Business in Nigeria
Step 1: Choose a niche
There are hundreds of commodities that can be imported legally into Nigeria and which currently have very high market/business value. Choose one, make up your mind on what you will be importing and stick to it.
Step 2: Conduct market research
Take time out to conduct proper market research. This is an important step in starting a successful importation business.
Step 3: Get a contact based abroad
You need to get a supplier abroad or at least a link to someone who stays abroad and knows a supplier, else you’ll be wasting your time.
Step 4: Draw out a business plan
Your business plan would tell you how much money you will be investing in the business, where your goods will be stored, how you intend on marketing your goods etc.
Step 5: Make the trip! Get your business up and running.
You can now process your visa and travel abroad to get your goods. If your supplier or your contact can purchase and inspect the goods for you then your job is made a little easier and cheaper.
Step 6: Start marketing your goods.
How to Start Online Importation Business in Nigeria
The online importation business is a bit easier than the manual importation business because of the following:
- Can be started with little capital
- Does not require making contacts abroad
- Can be initiated from the comfort of your bedroom
Step 1: Do your research.
Carry out a thorough online search of all the top e-commerce websites around the world (Aliexpress, EBay and Amazon are good examples) Check for the availability of shipment to Nigeria and cost of shipment.
Step 2: Choose a product niche
Choose a line of product you’ll love to import and research on it.
Step 3: Identify your market
Where and how do you intend on marketing your goods? You need to clearly answer this question before you proceed to Step 4.
Step 4: Order your goods
You can now make payments and order your goods to be shipped to you. You can check out how to import safely here.
Step 5: Market your wares.
There you have it! We have laid down the blueprint for starting importation business in Nigeria. Don’t be deceived by the loads of crap you’ll find online asking to pay money or buy a book that will teach you how to start importation business, they won’t tell you anything better than we just did. Goodluck?…No, work smart…success is replicable.
Any thoughts on starting an importation business? Why not share in the comments section!