am an onlineprenue, digital Strategies, mini importer, e-commerce expert and the CEO of TREASURE TECH by HIS grace
I started mini importation sometimes back and I heard from my master and many other importers that mini importation is one of the best and oil well business one can actually start with a very low capital and grow it very big in few months.
This remain the fact as long as things are very cheap from Chinese stores, most trainers and shoes we buy here in Nigeria at 7k are sold there for less than 3k i believe you can testify to that?
I know this is true as was thought by my master but when I started this business I was unable to make 100% profit as expected,
the first goods I imported after it landed, I realize that the quality of what I ordered was not actually what I saw on the site and the expenses were too much that I couldn’t make any profit.
This kept me wondering for some months what was really wrong, I couldn’t import anytime again, rather I went on a serious research and these facts are behind failure in mini importation:
- Buying through agents makes importation very costly to importers while agents get double profit, they charge you for agency fee while they still negotiate the price with suppliers and get a huge discount.
- Inability to pay for your orders direct leads to the high cost of importation since an agent can increase the rate of yuan at any time:
I noticed that the rate of Chinese currency equivalent to Nigeria currency these agents give depends on how they want to fix and you have no choice if you are not buying direct by yourself.
There was a particular time I wanted to import a smartwatch I asked one of the agents the rate of yuan as at that time he told me 1RMB is N70
I went ahead and ask the second agent and to my surprise, she told me that a yuan is
N65 and this was the same day which means they can change the price at their own will, quite different from what google gives.
- Lack of cheap and reliable logistics company: Logistics or shipping companies have a greater impact on your importation business positively or negatively depending on their policies and cost, that’s why you need a shipping company with good policies and cheaper cost if you must succeed in the mini importation business.
- Inability to register on 1688.com or Taobao.com and navigate through the website to enjoy discounts and free local shipping: The price you see on 1688.com, Taobao.com , or Alibaba.com website is cost price and not selling price depending on the quantity of a particular product you want to buy, the shipping fee is also estimated not the actual fee.
However, you don’t have access to these unless you register and become part of the market to enjoy all the benefits.
- Unable to get suppliers and manufacturers’ contacts and negotiate prices with them: These Chinese stores have many manufactures and suppliers of similar products and therefore the price is very competitive.
A lot of suppliers and manufacturers in these Chinese stores are always willing to give a discount and offer free local shipping if you have access to talk to them but getting their contacts is always an obstacle for others.
I battled and struggled with these problems for eight months until I later overcome them all and I can now tell you that I am a successful importer.
It’s amazing right?
Having Overcome all the challenges above and becoming a successful importer I can now order any quantity of goods direct from china without charges from anybody except my shipping fee,
Which is always normal for Importation
I decide to Announce this training for those who might be having the same challenges which I faced initially when I started or anybody looking for a profitable business to start and scale up to six or seven figures in few months of starting