Importation business in Nigeria has taken a new turn, as it’s not just the wealthy or almighty alaba boys that can now do it now but anyone that has the information; and you don’t even have to travel outside the country. You can start importing products right from the four walls of your bedroom. Anybody with half a brain can at present cash in on the income that comes from doing importation business rights from the comforts of your home.
If you are into online business, or even offline, and you are not cashing in on the returns from eCommerce, then you are leaving serious money on the table.
Before I continue, I have to warn you that this is going to be a series of articles on how to go about importation business in Nigeria. It’s going to be really long and detailed, maybe going into a thousands words plus. It’s not for the faint of heart, but will turn things around for you financially if you follow the guide.
I have actually sold this guide for N3, 000 prior now but decided to break it down into a series of articles and give it out as many of my seminar participants kept on asking questions that are answered in this book I guess. This will save me endless time explaining some things on WhatsApp.
Who Can Go Into Importation Business In Nigeria?
People have come to believe that it’s only the rich that can get into the business of importation. This is because they have it in mind that it takes millions of Naira to do so.
How wrong they are.
Anyone can go into importation business in Nigeria and do well in it. It’s not reserved only for the wealthy or those with connections at the seaports. Whether you are young, old, a student or undergraduate, or already working; as long as you have the will and you are ready to take action you can cash into the opportunities available in the importation niche.
As you read this, a handful of informed persons are already raking in millions from importation business in Nigeria; and these are young persons. You don’t need to be a genius or have all the money in the world to import goods from overseas. This article will open your eyes to not only see how easy it is to start but also evaluate the opportunities inherent in the importation business in Nigeria.
You can actually start with less than N30, 000 though the caption of this article says N50, 000 and steadily grow your business into millions; with dedication and wise planning of course.
If you ask me, this is one business you can start and quit your day job or job search forever. The knowledge you are about to gain will change your life forever; but only if you take action.
Factors To Consider Before Entering Importation Business In Nigeria
Yes, it is true that practically anyone can venture into importation business in Nigeria, but there are some factors you have to consider before taking that leap to ensure you succeed. After all, someone might have knowledge of a business but foolhardiness or unnecessary risk taking, coupled with wrong choices could be the bad karma.
So, let’s take a look at the factors you should take a good look at before considering the business of importation here in Nigeria.
- The needs in your locality
This is the very first factor to consider. What do the people in your immediate environ need? If you are a student, then you MUST be able to see and decipher the needs of the students around you. If you are a corper, then you should be able to perceive what your fellow corp members do need and if you happen to work in an office, let’s say, a bank you should know what your co-workers need.
Take for instance, if you are a student, and you start car importation, you might find it difficult making a sale as most students can’t afford a car.
Failure to know what those around you need before importing goods could land you into serious financial stress and your money could be tied down; leading to discouragement and hesitation to continue with the importation business.
- Your financial strength
This is another factor to consider. How much should you invest? It is easy to get carried away just thinking of the profits you could make from importation and then go borrowing. The advice is to start small. Never invest what you cannot afford to endure the stress cash being tied down if there happens to be some delay. I wouldn’t advise you to borrow on interest. The business is not running away, so no need to get stressed from the knocks of debtors waking you up in the morning.
You must analyze these two factors before venturing into importation business in Nigeria.
What Are The Tools You Need?
No one goes to the farm without the necessary tools as no one does anything in life successfully without basic preparations. The same applies to importation business in Nigeria. You need to have some tools before venturing in. You MUST have the following.
- A means of making payment internationally
You will need a valid Visa Card or MasterCard that is internationally accepted for you to do business with those in the UK, USA and China. This is a MUST. The good news is that anyone can now have access to a debit card that is international accepted. Almost all the banks now issue such cards.
I do make use of the ones issued by First Bank, Access Bank and GTB. So far, they have not disappointed me. Before getting a debit card from any of the financial institutions where you bank, you could ask questions first.
However, you could get a standalone debit card from UBA. This card will not be linked to any account; but you will have to fund it anytime you want to make purchases. The bad thing about this is that there may come a time when you need to makes purchases in a jiffy and there will not be enough to do so. You will have to load up the card. I would advise you have an account linked to a debit card for the purpose of importation and online shopping generally. The sites I will give to you in this report are safe; and your card details will be secured.
I should add here that there has been a change in government policies affection making purchases online internationally. Many of the debit cards by banks are no longer working and the option now is to get a domiciliary account backed up with a VisaGold card.
- Laptop with Internet connection
You will need a laptop connected online to be able to involve in importation business in Nigeria. However, a laptop is not a really MUST here since obviously you can use a cybercafé. It would however make the whole deal easier if you have a laptop of your own.
- A valid home address
You MUST have a valid home address where your goods will be shipped to. If you live in a cave or a hole where no one can locate you, then it would be a serious problem.
If that is your case, you could use the address of a friend or relation that can be easily located.
- A USA / UK address
This is another required tool that you must have if you are importing from some US or UK stores. We will dwell more on this later. It is easy to have so don’t sweat it and get discouraged.
- A free email address
It could be gmail, yahoomail, etc. Just pick any that catches your fancy.
This should be a minimum of N15, 000 so as to make some good profit. The bigger the money invested, the juicier the profit. I guess this is obvious.
List of Hot Selling Products You Can Import Any Day
For those of you that might be confused on what type of cheap quality products to import and then sell at big profits, here is a list of products that are always in demand, anytime anyday anywhere in Nigeria. Most of these products are female products; and here is a summary for your viewing pleasure….or is it reading pleasure.
- Brazilian hair
- Human hair
- Smart phones
- Ladies handbags
- Weavons and wigs
- Computer accessories
- Hard drives
- Flash drives
- Memory cards
- Iphones, ipads
- Used phones
- Wrist watches
- Gym equipment
- Washing machines
- Electronic gadgets, etc.
The list is endless. As we learnt earlier, find out the needs in your locality. You can import anything you see in the Nigerian market from the UK, US and China and at very affordable prices, but always do your survey first.
Study the market in your environment.