Have you ever thought of having another stream of income during and after the pandemic, apart from your regular job?
Do you want to know how to make extra 50,000 Naira to 300,000 Naira monthly from How to start mini importation business 2020
Are you having enormous responsibilities to cater for and being broke is the worst feeling ever? Never worry
If yes is your answer, then this article is for you.
In this article, you’ll be expose to the secret of mini importation business plus how you can start a mini importation business in Nigeria in 2020, during and after the pandemic .
Back in 2014 , in my quest to secure alternative source of income. I attended a business seminar. In one of the sessions, we were taught on how to start a profitable mini importation business. To let you know have been in tẹ business for quite some time so I know the do and don’t of the business, have fall and rise in the business. Which is the best and practical experience.
Therefore, I urge you to grab your favorite drink and focus on studying every single word on this post because it’s will help you a great deal!
I have packaged this article to take care of your fears, objections and anomalies. mini importation business has been made easier than ever… anybody can start mini importation business.
You’ll be amazed that with as little as ₦10,000 you can start making 6figures within few months. All you need is the right information and proper education about this business in order to go about it the right way without being scammed in the process..
Also, you will learn how to make Jumia, Konga , deal day, etc., work for you with little of your effort and make money in your sleep. It’s that simple.
You simply need to get started include the following :
- Laptop/Desktop/Tablet or Mobile PhoneI
- nternet access
- ATM Card -Naira MasterCard or VISA card
- N10k or more depending on your choice of products.
- An email address
- A traceable physical location that will receive your products.
DOES THE MINI IMPORTATION BUSINESS REALLY WORK…?
Before we start talking about the steps involve in mini importation business, it’s crucial that we first understand the nut and bolt of buying and selling.
Mini importation business as the name implies is simply an art of importing items outside the shores of this country, bring them into this country and sell them to consumers online like jumia, Konga etc or sell to people around you.
The essential requirement for starting a mini importation from china are as follows:
- The Basic Needs of People
- Cost of clearing
- Trusted contact in China
This is the cash available at hand. The total amount of money you want to use to start your mini importation business.
2. The Basic Needs of People.
This is an important option in your mini importation business. You have to consider what people need most, the significant demands of people.
It will be a total waste of time and resources if you invest your money to import products that are not really in need around you.
If you are a student in the university environment, you will agree with me that gadgets, clothes, cosmetics will sell faster than motor parts on campus.
3. Cost of Clearing:
This is another major thing that has to be considered before starting an import business. The cost of clearing is the money paid to the clearing agent that clear the goods through customs. It differs from product to product.
Some products are classified as contraband. These are products that the Nigerian government does not want to encourage their importation so as the locally made ones can sell.
Therefore, what the government usually does to discourage importation of such products is to increase the customs duties that will be paid on such products.
Rice importation is classified as contraband for now. It does not necessarily mean you cannot import rice at all, but you will have to pay more for clearing.
4. Trusted contact in china:
Now, this is one of the most vital things to consider when importing from China. Since the purpose of this post is to educate you on mini importation from china with or without traveling outside Nigeria.
In fact, this is essential, it is not just having somebody that matters too much, but how trusted and reliable is the contact. Contact me for more info on trusted contacts and how to bypass agents to maximize more profits in the masterclass. CLICK HERE
How to import from China to Nigeria
The following are the practical step to mini importation from china after you have considered the essential requirement above.
Step 1. Identify your import rights
When you buy your goods from China, you become the importer. The courier such as DHL/UPS/FedEx will handle everything and deliver the goods to you..
Note : the more cheaper logistics to use so u can maximize profits, join our master class to learn more CLICK HERE TO GET MORE DETAILS
Step 2. Choosing the goods you want to import
Choosing the wrong product or products that are of low demand means you are losing time and money. We have made it easier for you by sourcing for trending and profitable products in our join mini importers business Group..
So, if you’re going to be a successful importer, the first thing that is needed to be done is to look around for those products or goods that their demands are high.
Also, you have to gather as much information as possible about the goods that you want to import. So, you don’t import a product that you will not be pleased with.
- You go for a product that you have passion for.
- You go for a product that is unique and can sell at a high price.
- You go for a product that you can ship in large quantities and at a low shipping cost per unit.
Step 3. The Cost of Clearing
Endeavor to import goods that are allowed in Nigeria (non contraband products) so that the amount you will pay for clearing will not be much.
Note : advantages of group importers,
- You pay less for shipping,
- You worried less for product sourcing,
- Deals are close directly with manufacturers
- No third-party.
- Direct payment /refund available
- You sell more cheaper than individual who import same products because of MOQ.
It is your responsibility to ensure that the goods comply 88with a variety of specific rules and regulations.
Also, determine the 10 digit tariff classification for each item you are importing. Pay attention to calculate the total landed cost before you place your order.
Step 4. Your Trusted Contact in China
At this stage, you must have had a reliable someone in China. So you go ahead to place your order with your trusted contact (vendor, shipper, or exporter) and identify shipping terms that will be imitated.
Once this is done, you have to request a quote sheet [Proforma Invoice (P/I)] for your prospective purchase to include the description and value per item.
Your Proforma Invoice must show the weight and the packed dimensions as well as your terms of purchase.
Step 5. Arrange and Track your Cargo Transport
The cost that is associated with imported goods is mainly shipping costs, packaging fees, container fees, broker fees, and terminal handling. Each of these costs should be taken into accounts.
Since it from China, it will take a few days for it to arrive. During this time, check your commercial invoice, packing list, the bill of lading, and other related freight documents.
Step 6. Goods Arrival in Nigeria
After a few days, the goods will arrive, so you have to make arrangements for your customs broker to clear them through customs (and quarantine if applicable)..
And when everything goes right, It time to pick up your shipment. Or you may choose a door to door service, and you will get your shipment to arrive at your designated address.
Goods to consider when starting a mini importation business
This product of choice that is going to list below is based on the normal marketing trends in Nigeria.
So, you also have to look around your marketing arena to identify what will sell best.
I am doing this because it is necessary so that you will know what trending in the Nigeria society and for you to be able to scale your capital for a startup.
Consider the following items:
- Phone & Gadgets
- Ladies Bag & Ladies Sandals
- Shoes & Canvas
- Computer Accessories
- Flash Drives
- Weight loss products e.t.c.
How to raise capital for your importing business This is just a bonus; raising money for a business startup is a major challenge for potential entrepreneurs.
The importing business we are talking about is not exempted from this challenge.
1. Family and friends
The easiest way to raise cash for your importing business is through family and friends.
Assuming you want to raise an ₦100,000 (Hundred thousand naira) for your importation business, it means you need ₦10, 000 (ten thousand naira) from 10 people or ₦5,000 (five thousand naira) from 20 people.
Whichever of this option is easy for you, work on it, and you will be surprised that you will raise the capital within a short time, especially if you are the type that people can trust with money.
2. Participate in Cooperative Society
This method of raising capital is suitable for those employed in government service or other cooperate organizations where a cooperative exists.
3. Engage in Monthly Contributions/Meeting
This is a superb method of raising capital that is popular among people who receive salaries.
It involves joining a group where an individual member of the group contributes a certain amount of money per month.
At the end of the month, a member collects the whole amount, and everyone keeps contributing monthly until the cash collected at the end of each month goes round to everybody.
4. Form a Trusted Import Team
This is a method that is best for those starting out mini importation newly. This method is not directly attached to fundraising, but it will save you much money in the long run.
It is just when two or more importers come together in an agreement to join force and import sets of goods, while they both share the cost for shipping, packaging and other related costs.
Now let just examine this two pictures of this 2020 hot items in market
The first one indicates the dollar account + naira, if you purchase 20 or more of this item from the first picture you buy it at the same price has you buy one lrt say it $34.99 per 1 item x 10 =$349. 9(multiple by ₦400 = ₦ 1, 39, 960 without shipping / landing cost
2nd pictures buying it from the manufacturer, you can buy from two pieces to 1000 up ward check the pictures.
Now let say we have group importers importing this product, each place ordered for 10 pieces and we have 100 importer on the product, that 1000 item you will be surprised the price it will be shipped here and how low there prices will be and still maximize profits.
Take a rough estimate.
¥185 = ₦55 x ¥185 = ₦10175 (₦10,175 x 1000 piece) 10175000 diving it by 1 items each will cost ₦10175, compared to the first picture ₦13,511 can u see the margins.
Here is the products on our store……… CLICK HERE
Join our team today and kiss joblessness goodbye forever