Without international trade, it can be difficult for nations to expand markets. It won’t be easy to get access to certain goods and services a particular country lacks. Buying and selling, at all levels, will always evolve as long as there are many human needs.
Foreign trades boost the domestic markets of a country by encouraging healthy competition among different segments of the economy – to produce more products and revenue. High-demand goods can be gotten cheaper from other nations.
With this kind of trade and marketing, there also some challenges like dealing with various environments, trying to optimize businesses in more than a country, and others.
There is a more relaxed approach to this. With a mini importation business, you can do business with as many foreign countries as you want.
What is Mini Importation?
Mini importation is an online business anyone could run, right from the comfort of their homes. It just makes international trade and marketing smoother, more comfortable, and fun. It has become is a real, excellent leverage tool for small business owners.
Mini importation is a small scale importation business model. This online business doesn’t require you to have significant capital to start; only a little money is needed to import goods from China – at a meager price. When you order your products, you can sell it at a higher price in your country. The profit potential can be as high as over 200%.
Start-up capital can range from N10,000 to N10,000,000, or more.
How to start. What is mini importation all about?
As you have known, this is a business model that allows a seller with an internet connection, let’s say in Nigeria, can buy goods at lower prices from China or other countries. The sole aim is to resell it at a higher price. This is a business anyone can do, without leaving the comfort of your home. One can start small and grow it into something big over time.
By “mini,” it doesn’t mean that it must be small importation; it means that one can start the business with any amount – plus, you don’t need years of experience or lots of paperwork. The process is so simple.
Almost all you do, you do them online, you don’t need any physical presence to buy your goods. Everything is done online.
To be successful in the business, you need the willingness to take the necessary steps. For a start, have decent money – domestic, not foreign currency. You will also need a proper internet connection. Finally, you will need a suitable mini importation agency, proven to have experience in international logistics (this is important).
Now, if you are ready to start your own mini importation business, follow the steps below. They are straightforward and effective.
- Decide what market segment you want to sell to. Observe what is currently selling around you. You can sell almost anything with mini importation.
- Now, open a bank account and connect it to internet banking. You can use your current account.
- Search online for reputable foreign online stores and create an account. Alibaba.com is a good example. There are many more you can explore.
- Search for the type of goods you want to buy and place your order. You can pay for these goods to import with your bank debit card.
- Wait and receive your packages(s) delivered to your doorstep or at a post office. It’s better to provide your physical address so that your goods are delivered to your house.
How to do Aliexpress and Alibaba Mini Importation from China
You can get good deals from AliExpress.com and Alibaba.com. Getting cheap goods from these websites are guaranteed.
So how can you start your mini importation business, sourcing cheap goods from China? Read below.
To use either AliExpress or Alibaba, follow the steps below:
- Determine the product category you want to buy from China. Make sure that the product to import is permitted in Nigeria.
- Register an account at AliExpress.com or Alibaba.com, or both.
- Scan for your product(s). Check the best offer.
- Proceed to order. Here, you will need your bank debit or credit card. Fill in the necessary card details and your physical address.
- The shipping from China may take days or weeks to deliver to you. The cost on these two websites depends on what you are buying – but many suppliers here offer free shipping.
That’s all. Now you can begin selling your goods at a higher price, here in Nigeria.
Note: You can register a company name and take your company’s documents to the Federal Inland Revenue Services, if you will be ordering for large goods, in millions of Naira.
- John Aina Ajibola has a Masters degree as an engineer and has over 3 years of teaching and research experience. He is happiest when on a bike and is also interested in electric energy and computer Science.