Naira Mentor

Are you going into the Importation Business? If yes, I have written this article for you. In this article, I am going to show you how to start importing from abroad and make profit reselling whatever product you import.

Though, importation business is very lucrative, but has any other business it requires dedication, research and planning to really become successful in this form of business. Importation business can be done in two major ways, one you can import goods in bulk to resell as a wholesaler to retail customers that are willing resell the product for you. Or you can import small quantity and resell them yourself.

Either way, you will still make good profit importing. The wholesale form requires heavy capital to purchase the goods, ship them and store them in a factory. while the retail form can be the easiest where you can import from 1 to 50 quantity and sell them yourself.

We will be concertrating on the retail form of importation which you can start with 15,000 naira and groom it to any level you desire. I am going to show you the easiest way to succeed in this form of business.

He who fails to plan, plan to fails

That is true about any business you want to go into both online and offline. You need to have a plan that serves like a road map to where you are going to be as time goes by with your business. According to recent study, 85% of start up businesses both online and offline fails, and the number one factor that leads to such massive failure is there lack of having a plan for the business.

Without having a plan, you have already killed success in your Importation business from the start. So before anything, I advice you to have a business plan. In this plan, you need to include what products you will be importating, who are your target customers, how and in what form are you going to hit this target customers. Also you need to include, how you receive payment and in what form you want to sell.

Writing a business plan will help you vitualise better how your business will grow, in what market or product should you sell. Doing your research will make it easy for you to know if your importation is going to be successful or not.

What will you be selling

Another important factor is to know what to sell. You shouldn't just jump into importing any product you feel will sell well in the market. No you should carry out a good research. You should go out to where the products are being sold and ask questions. Do your research online, to know how other sellers sell and for what price and how do they package and deliver the bought product.

Doing this research is the second factor that will ensure you get business to the next level. You would have compiled a list of fast selling products and where and how to market them to your target customers. The truth is fast selling is what will make you stay long in importation business. So importing fast selling products is very important to your success.

Where should I buy from

Now that you have written your business plan, compiled the list of fast selling products that you can import and the possible profit margin. The next is to find how you can buy these products at cheap price, and with fast shipping options that are also cheap. There are lots of online marketplace where you can get your products.

I am going to list some here, but you have to make your own research to know how to go about good sellers to buy from.

1. www.dhgate.com
2. www.alibaba.com
3. www.globalsource.com
4. www.ebay.com (this is possible if you have someone in the USA to buy for you)

Those online marketplace listed above are the ones I have personally used and refer other Nigerians. You should please do your research and never pay any supplier directly. All of these online marketplace have escrow services that will protect both buyer and seller from fraud.

Once you place your order, you make payment that will be held in the escrow service, until you have your order delivered to you and you are okay with the product.

How to sell your inventories

You can resell your inventories online or offline. If you have a shop that is in a good location, you can sell your products there and run adverts in dailies and online to notify your potential customer of your product and how to reach your location. You can also sell online by having your own selling portal and also listing it on online classified ads web portals.

Your method of selling your products depend on who your target market is and where dey congregate and how best to reach that community. Some market a best reached online while some are best reached offline and some are best reached skillfully using both online and offline methods.

In Conclusion

I have showed you how to start an importation business in a this summarised blog post. If you are serious about knowing more and securing a success for your online business, I employ you join our secret Facebook Group where we will help you all the way to start your importation business. We have a comprehensive PDF ebook that will show you exactly everything you need to know. This ebook is must for anyone that want to become part of the 15% of people that are succeeding with their importation business.