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Nations like China, Japan and Taiwan have built their production capacity so other low capacity nations depends on them for survival.
In order words these finished products are bought at a more lesser and cheaper price than the one’s sold here for profit.
What is Import Trade ?
An import in the receiving country is an export from the sending country. Importation and exportation are the defining financial transactions of international trade.
In international trade, the importation and exportation of goods are limited by import quotas and mandates from the customs authority
Importation business is simply centered on buying things at cheaper prices and selling for profit, learn how to build an empire from importing things that are not within the reach of your community and make money with them.
Benefits Of Importing.
There are a variety of reasons for importing goods, one of which is the benefit for the global economy.
The modern world also relies on imports to build sustainable products. Some items like microchips, wires, and oil are imported and used to build or operate local products.
Here are a very reasons why you should begin importing.
1. Higher profit Margins.
A key reason that companies all over the world choose to import goods is to extend their profit margin.
It has been discovered that Certain products can cost upwards of 50% less to grow, manufacture or produce abroad.
2. Better Quality.
Another reason why you should consider importing is the demand for quality. Some type and category of goods are better manufactured in some part of the region than the other.
When possible, it’s best to get your product from the highest quality source, even if that means importing out of the country.
In most cases when the product to be important is scare and is necessary to the development of the economy of the nation.
The government of such nation usually provides assistance necessary for the successful arrival of such a commodity.
Such assistance that may be provided include lower taxes and almost free import duties.
Basic Requirement for Your Mini Importation Business.
Now you intend to start you importation business here are the basic thing you would be needing.
1 . Start Up capital (money).
Every business needs money to actually begin proper function and this is not a different case for an importation business.
The blessed thing about Importation business is that you need cash but not too much cash.
You can start with as little as $100.
Read my article on raising capital for your business in case you dont know how to raise capital for your business.
Another important factor necessary to the success of your new importation business is the need of a smartphone.
A smartphone would help you facilitate activities such as marketing, product sourcing and product follow up .
You can purchase a smartphone for as low as $50 here in Nigeria.
china mini importation site
3. Internet Facilities.
Most of your sales would be online so you need to be adequately prepared in order to take control of your sales.
A website embedded with online payment processor can help you facilitate sales in a more easier and help you scale faster and better.
The type of website needed for an importation business is called E commerce
You can read my article on getting an e commerce platform.
5. Social Media Account.
Every business should have an online presence in one way or the other and this can be created by having an active social media account.
Social media can also serve as a means of online marketing.
Platforms like Facebook , Whats app and Instagram have been known to be effective when it comes to sales.
You can read more on Facebook Ads here.
How to get started with importation.
You heard of importation and you are ready to dive in and get started with bringing in your first set of products here are a very few guidelines to help you get started.
1. Products Sourcing.
The first thing you need to do if you want to embark on this journey is to source for your product. Here is what you should know. Most of the supplier’s website are China-based.
China is a mega creative and a mass producing nation in the world.
When it comes to tech gadgets, clothing’s and affordable implements china is the best place to find such.
In the like manner, most people usually thought any products from China are always inferior. Seriously, that’s very far from the truth.
Please look around you I’ll bet that almost all product around you are produced and coupled in China. Your flat screen, phones, generator, freezers even the popular mobile phones by big companies like Apple and Samsung are produced in China.
Online stores set up in countries like China, Japan and Taiwan can be easily accessed by merchants all over the world, purchase , payment and delivery are made in no time to any preferred destination of yours.
Some of these online stores are.
Taoboa is a chinese e commerce website designed for the Chinese people and not for outsiders, buying product from Taoboa requires you to either be in China or consult the service of an agent in China, products can be shopped over there and sent to you here in Nigeria
1688.com is also native to the Chinese people and you can tell from the language on the website, things are very cheap and sold in the Chinese local currency.
Things cannot be purchased from another country except the Chinese People and Chinese residence themselves. Service of an Agent can also be sought here from Nigeria
Ali express is the only available global website owned and deigned by the Chinese People, it was created and presently run by Alibaba group which is presided by Chinese Billionaire Jack Ma.
Ali express allows any one outside China to shop comfortably and pay in their local currency. Goods bought are delivered in the respective countries after two to three weeks of payment.
Amazon is another huge e Comerce platform that can help you with product sourcing.
They are tons of sellers on Amazon who are ready to sell products to you at an affordable rate.
Talking about used and second hands quality gadgets can be bought on Amazon at very affordable prices.
Things are slightly expensive on Ali express than the above mentioned E commerce Platform.
All you need to do in order to start using this website at a full scale is just a complete registration of your details via their website and this can be done by signing up with your name, email and a password.
very few fast moving products to choose from are.
1: Ultra Sonic Teeth Cleaner
2: Bluetooth Water Dancing Speaker
3: Lazy Phone and Tablet Bracket
4: Smart Bracelet Wireless Headset
5: Menstrual Cup
6: Toilet Led Light
7: Wireless Ear pod
10: Warm and Cooling Cup Holder
12: Miracle Kneel Plaster Sticker
17. White Light Teeth Whitener
18: 5 Second Fix
20. Powerful Sink & Drain Cleaner
21. Air Purifying Odour Exterminator
22: 4-1 Skin Repair
23: Permanent Hair Inhibitor
25: Portable Hanging Neck Fan
28: Portable Handheld Electric Steam Brush Iron
30. Anti-Gravity Phone Case
31. Auto Pops A Dent
32. Multi functional Vegetable Fruit Peeler
33. Push Up Bra Enhancer
34. Waterproof case for iPhone and Samsung Galaxy
35. OTG Flash Drive
36. Car Washer Pump
37. Beard Bib
38. Selfie Stick Phone Case
39. Smart Phone Wrist Watch With Camera & Bluetooth Compatible For iPhones and Androids
40. Light Angel Motion Activated Cordless Light
41. Drain Wig
42. One-Step Corn Kerneler
43. Engrave Pen
44. Watermelon Slicer
45. USB Electric Breast pump with Led
46. Smart Phone Wrist Watch With Camera & Bluetooth Compatible For iPhones and Androids
47. Stain Remover Pen
48. Magic Lint Dust Brush
49. Handrail grip
50. Color shift Egg Timer
51. Beard Bib
52. Selfie Stick Phone Case
53. Smart Phone Wrist Watch With Camera & Bluetooth Compatible For iPhones and Androids
54. Light Angel Motion Activated Cordless Light
55. Drain Wig
55. One Step Corn Kerneler
56. Engrave Pen
57. Watermelon Slicer
58. USB Electric Breast pump with Led
59. Smart Phone Wrist Watch With Camera & Bluetooth Compatible For iPhones and Androids
60. Enlarged Screen
61. Magic Lint Dust Brush
importation business in nigeria
62. Handrail grip
63. Colorshift Egg Timer
2. Buy from Reliable Supplier.
Scams are not only found in very few area on earth but are found everywhere.
These same scammers can be found also on these online platforms. Note that you are not seeing any physical product but digitalis ed product majorly in photo and video format.
So therefore choosing wrong product is inevitable .
The only way to avoid making the above mentioned mistake by using the power of feedback.
Feedback are comments that are left by previous customers before you.
make sure you check thoroughly before shopping. And buy products from a seller that has a very recent feedback.
You can see the image below of a supplier with adequate feedback.
Mind you there are so many sellers on this platform, most are selling similar product and in most cases do not have any recent or no feedback at all.
Make sure to select those product with very recent feedback.
3. Preparing to Pay for your Products.
Another thing you need to get set and prepare for is your mode of payment.
In the past years, this used to be the hindrance of venturing into importation business. This is because there are no easy means of paying it’s always a long procedure. But thanks to the internet everything is now made easy. Back in your house in Nigeria, you can make payment for products in the China or anywhere around the world. It’s as easy as that.
With the advent of payment processors, all you need is a debit or credit card in order to pay.
You might want to ask, what if you’ve paid and you never receive your products? Or you pay, and the product is different from the description in the websites?
Well, all this are normal questions. These websites have some measures in protecting their customers. You can call it “buyers protection”.
The Escrow or buyer’s protection is a measurement put in place by the websites to protects both buyers and sellers.
This is how it works. Once you’ve purchased the products you want to ship, instead of paying straight to the sellers’ account, the websites withhold the money.
The money will then be released once you receive and confirmed the product to be what you order.
So you do not have any reason to be afraid whatsoever.
4. Preparing for Delivery.
Another question that will usually cross your mind is how you can receive the products you ordered and payed for.
Product delivery usually comes in two ways. This includes:
Free Shipping – usually slow but increase profits (between 14 to 60days) but most time it’s usually delivered between 20 to 30days.
The service company can be China Mail Air Post or Hong Kong Mail services.
Premium delivery – these deliveries are usually done by DHL, EMS, and FedEx.
Although it might be expensive compared to free shipping but its always faster and safer. (between 3 – 5days).
No matter how slow it takes always have it at the back of your mind that the product ordered will eventually arrive.
5. logistics and Delivery.
Now you are in business and you are selling your products nationwide, you probably need a logistic partner.
I will assume you are in Nigeria. There are a lot of logistics company you can choose to partner with.
- Courier plus
- GIG logistic.
In my experience i recommend subscribing to GIG, they are very big and expanding rapidly.
Delivery is quite very cheap and very fast. you can track your delivery status online.
They also have many plans including the plans for e commerce platforms.
How To Promote Products You have Imported.
Now that you have spent so much in trying to bring this goods to whatever location you are, the next big issue is trying to sell of those things.
Most people take all the time in the world to bring in goods and services but they cannot sell them off.
Here are some very few recommendation for actually selling off your products.
1. Word Of Mouth.
This is the most easiest and less technical way to get your good sold.
If you have friends and family or even co-workers that you think might need the goods you have brought then you can tell them the good news.
Most people go ahead to set up websites for this sole purpose, the kind of website that would be used in this case is called E-commerce websites.
They are dynamic and multi-functional websites that can help you handle sales.
They contain functions like product display, payment processing and even inventory management.
Here is an article i recommend you read.
3. Social Media.
Social media platforms like Facebook, Twitter and Instagram can be used to sell off your products.
You can leverage on paid advertising services offered by these platforms to sell out your products.
Here is an article i recommend you read to help you get started with the use of Facebook and Instagram because they attract the most engagements.
4. Email marketing.
Email marketing is the act of sending a commercial message, typically to a group of people, using email. In its broadest sense, every email sent to a potential or current customer could be considered email marketing.
It involves using email to send advertisements, request business, or solicit sales or donations.
If you are new to email marketing here is an article i recommend that you read.
You probably think that starting this kind of business requires you to have enormous capital but you can start with as low as what you have.
There are enormous product that are important and can be bought at very cheap and affordable prices.
You can check out the stores mentioned above and source for products that are readily available.