Online Mini Importation in Nigeria has become one of the best ways to make a living online. There is no gain saying that a lot of entrepreneurs have been engaging in online mini importation as far back as year 2010. From my own experience, the ROI of this business could be as high as 500%. Many Nigerians especially youth are leveraging on the fact that Nigeria is a not producing country, hence they largely prefer foreign products for consumption.
Many are of the belief that to start importation business, huge capital would be required. This is far from the truth, as the internet has made it easier for anyone to buy items online and get them shipped to their doorstep. In this article, you will learn the following:
What is Online Mini Importation Business?
Online Mini importation business is the type of online business which involves buying of items, products from foreign countries, get them shipped to your doorstep and resell to maximize profits. This business requires capital as low as 20,000 Naira. This business does not require paper work like the offline importation, as long as you have adequate knowledge of it, you can go into this business.
Requirements to Start Online Importation Business
- Adequate Knowledge: It is essential to acquire the basic knowledge before going into this. You need to learn how this business works. It is highly recommended you get a mentor or get trained before you start online importation business.
- Capital: It is recommended that you start on small scale even if you have millions of naira to start it. You can start with as low as 20,000 naira and scale up gradually with time, with this, you will be able to gain more experience on the business.
- Recommended Websites: There are lots of websites to buy products from. Some are alibaba.com, aliexpress.com, taobao.com, ebay.com, amazon.com, 1688.com and more of them online. Some of these online stores are Chinese stores and you may need to communicate with some of these sellers in Chinese language, Google translator is often used for this purpose.
- Methods of Payments: It is important to note that a lot of scams are online, do your due diligence before making payments online. Some of the methods of making payments online include; bankcards (Mastercard, Visacards), Paypal, wechat pay, alipay and lots more.
- Products to Import. There are a thousand products you can buy online. Most of them are categorized into Fashion, Household items, Gadgets, Health, and much more. Make adequate research for quality products that would meet the demand of your audience, this will go a long way in helping you to maximize profits.
How to Research Hot Products to Import:
I mentioned it earlier that to start importation business, you need to buy products that are in hot demand. Another is to consider if your products would solve a particular problem. Problem solving products are always in hot demand especially health related products, beauty products and gadgets too. Health related products are always in demand by old folks while beauty, fashion, gadgets products are hot in demand by young folks.
How to Make Secured Online Payment:
It is important you do due diligent before making payments online especially send money to sellers. Never buy without an escrow platform. An Escrow platform provides a secure form of payment. With escrow platforms, you can easily file a dispute if you do not get what you paid for. Alibaba.com, aliexpress.com, and more other websites offer escrow service when making purchase. You can also pay using a Paypal account. Paypal is an online 100% payment secured platform to pay your sellers and you can link your bankcard to Paypal to make payment directly.
In conclusion, this is just a brief information on how online mini importation works. Try as much as possible to learn more or wait for the second part where I will still discuss more about this business.