In the event that you are considering beginning your very own mini importation this year, and you have just but little cash for the start, my sincere advice to you will be to the first centre on finding hot selling product regardless of the niche, from which if you sell it you will make high profit and also ensure that the product you find will be appealing to your customers and problem solving as that is very important.
If you have at least 20k and you are prepared to begin, just follow these three steps
BEGINNER’S GUIDE TO MINI IMPORTATION
I generally tell tons of mini importers that the benefit doesn't begin from selling, rather it starts from making good product research. Taking enough time to do product research will enable you to find cheap and quality items with a high yield on investment.
For instance, about three years ago shoes and some other clothing accessories were cheaper to source from China compared to now. And also selling it has a higher profit margin with a lot of young ladies and guys patronizing the market, making it easy for the niche to be profitable and promising more than now.
Not that the niche is no longer all that profitable, but in the case that you are having an obviously small capital you don’t have to venture into any niche just like that trying to compete with legends who buys more than you but in this case you will have to bend down and search very well for the product that will give you higher margin.
You will achieve this by going to Amazon, Aliexpress, jumia and Konga (the major online marketing channels which you know) to check out the products that are (hot selling) selling very well on these platforms, then go to 1688.com or Alibaba.com to look for the same products and import it. While ordering for the product make sure that you can be able to beat those prices you found at jumia and as well make some profit while you offer faster delivery to your customers and ensure that they get your trust. (Trust is very important, so avoid importing inferior goods that will ruin your reputation) Even if you think that you are just a starter you must also think that you must start immediately to build trust.
To be profitable in online business you need trust more than anything else, especially in Nigeria.
Purchasing the product
Now that you have found some amazing and promising products with good price and a good number of patronizing customers on amazon, Aliexpress, jumia, Konga etc. It is now your time to determine the price you have to get the goods to be able to beat those prices that you saw online and as well make a good profit.
If you fail to do this calculation you will behave like one of my friend who didn’t wait to get all the details and jump into importation.
The guy used 20k to buy bags from 1688 and after the expenditure incurred on shipping and clearing of goods that was the time he let me knew how much he bought everything and I was like why didn’t you wait to get the full gist neither did you let me know before placing an order. All he bought cost him a total of 57,890 which if he had engaged in good conversation and negotiation of the product cost with the seller, he should not have spent more than 30k.
I’m giving this instance to let you know that checking the price on Aliexpress, amazon and even Alibaba.com website does not mean that the price will just decrease with little cash. Some of the goods do some times decrease to about 200% of the original price if you engage in good bargaining with the seller.
Read more how to negotiate for a good price on a Chinese website with chat templates.
For instance, this watch shown above was displayed to be sold for 200 yuan in 1688. After I have conversed with the seller I was able to purchase it for 80 yuan per each and I bought 20 paces with other goods and shipped to Nigeria. Not only because I’m buying up to 80 pieces but because I already have similar experience and as well I know that I should negotiate the price with the seller before concluding the order.
This is to clear you very well why some people do see things to be very expensive when they have calculated all the money they used to carry out the importation. This is because they did not price it very well or peradventure they bought from a seller who seems to be very expensive and as well they lack the knowledge of negotiating before paying, thinking that they will sell it any amount they want when the goods lands.
Now my advice on this is that you know how to engage in meaningful pricing to get the goods that you have sourced for at the lowest rate.
Also, even those that are pro who have imported plenty of goods from china do ensure that as well buy new products starting from little quantity to taste run the market they want to venture into. This is because you can’t run faster than your shadow. You must be in line with what the market tells before you will be able to see that good profit you are looking for. So during your order, if you have a new product that you want to bring to the market which looks like what people will like do ensure that you test run the product in the market before investing a huge amount in it. To be before warned is to be before harm.
The price you will get the product solemnly depends on your negotiation with the seller. Negotiation with the seller is done via WhatsApp, WeChat or through the website using Alibaba or 1688 they all have a means of communicating with a seller and to get the contact of the seller of the product you have seen just scroll down to the details of the product and you will get their contact.
Selling the product: If you have successfully purchased hot selling products from the above-mentioned websites. Selling it is not going to be all that difficult because you don’t need to have your special website to do that, though if you are already getting big having your website will add more trust to your business. All you have to do is to make a video about the item and advertise the video via web-based networking media, or do some online classes and advertise the item at the end of your online class. You also have the chance to warm your email list about the item or do some Facebook advertisements if you have additional money.
You can also publicize your products on online classified websites such as Worldtok, Jiji, Olx etc. Another option that I have taken was to meet some retailers within my locality and supply them my products at a cheaper rate while making sure that my profit is intact though change is constant.
Indeed mini importation is profitable and I made my first six figures online through mini importation. If you have any question on how you can start or any other information that you might need to feel free to add a comment and be sure to get your question answered.
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