The world has evolved over the years. Few would have thought that ‘ordinary’ people like you and I with no huge bank account can now import goods directly from overseas suppliers?
There are still a lot of people who think international trade was reserved for the government and rich big importers who with strong connections with manufacturers and suppliers abroad. They are wrong! I’m about to help you erase that ideology.
This write up is aim to disclose how small scale businessmen and young entrepreneurs in Nigeria can actually venture into the importation world with very little capital investment. The knowledge i am about to disclose in this page will open up your mind to know how much income you can start earning from importation.
How does importation work?
I am always of the opinion that for anyone to succeed in life be it in business or any other thing, you must be conversant with the basics, terms and understand the modus operandi of such.
It is important we understand the roles and basics of buying and selling (importation business).
For example, You buy a wrist watch at a low price (N200) and sell them at a high price (N1,000), You have just made a profit of N800 from the business. It is that simple!
However, you can maximize you profit scale through several ways. You can either find a place anywhere in the world where you can buy your products at a lower price or look for customers who will buy them at a higher price.
This way, retailers in business make their profity. Buy low, sell high.
What do you need to get started?
- For you to join the growing numbers of importers and start earning big, you will need the following
- A computer or mobile device with access to the internet.
- A valid email address
- A valid office or traceable home address in your country where the items you order will be shipped to.
Where to get your commodities from?
Although there are a number of other websites that offer good value, Aliexpress is my top recommendation as online marketplace that sell products at low wholesale prices.
Aliexpress.com has gradually become the leading destination for small scale importers over the years looking to buy goods at wholesale
prices from China. Aliexpress is one of the subsidiaries of the Alibaba Group which dominates internet-based commerce in China.
In 2012, the portals handled sales of about 1.1 trillion Yuan ($170 billion), more than its competitors like eBay & Amazon.com. The Alibaba Group is estimated to be worth between $55 billion to more than $120 billion. Launched Aliexpress in 2010 as an online retail service made up of mostly small sellers offering products to online buyers. Aliexpress now has more than 20 major product categories and sells to registered users and buyers in more than 220 countries around the world. You can visit its homepage at www.aliexpress.com
How can you pay for the products?
Back in the years, Payment was one of the challenges faced by interested small business owners to import directly from overseas manufacturers.
That has changed today through easy online payment systems, all the websites including aliexpress accept payment through a wide range of channels. You can do a simple bank transfer or pay with your debit card from your comfort zone. All you need is to fund your account.
How will you get your products delivered to you?
Although some products on Aliexpress.com and DHgate.com come with a ‘Free Shipping’ service to many countries around the world, it often takes longer time to get your goods delivered to you; usually between 15 to 60 days depending on the product and your location.
Other useful options for delivery are: DHL, EMS and Fedex. They may be more expensive options but they usually deliver your products to you in a shorter time and allow you to track them on their way to you.
How will I find buyers for the products I import?
This is where it all goes down. If you can rent a warehouse for your imported products it’s better. It may be the oldest and traditional method but it still helps tremendously. Potential buyers will eaily patronise you at your shop and possibly buy from you. You will likely have a significant advantage over any competitors around who sell the same products as you do.
You can sell your items at a slightly lower price that they would never have imagine because you import directly from overseas suppliers, this makes it easy without affecting your profit scale.
If you wish to start this business but do not have a physical store or shop or do not have the money required to rent one, there is hope. The internet has provided the whole selling experience with interesting options and platform and makes it much easier to sell stuff to both people you know and total strangers.
It is now easy for any one to set up an online store almost for free. With Social media network like Facebook, all you have to do is upload pictures of the your imported products and invite your friends including people you do not necessarily know to visit your page. If they like the products and their prices, they’ll easily contact you to buy it!
Some in-demand goods you can consider
Power Bank, Ear Phones, Decoder: DSTV, Startimes, Gotv, Car Trackers, Wireless Server, Wrist Watches, Camera, Chargeable Lamps/Solar Lamps, Printers, Scanners, Phone Screens, Books, CCTV Cables, CCTV Cameras, Projectors, Phone Panels, Clothes, Shoes, Fashion Bags, Fabrics, Cars, Laptops.
Wish you Good luck!