Mini importation is one of the most profitable businesses in the last few years.
Many of the new eCommerce millionaires and dropshippers made their money via mini importation.
More so, mini importation is the purest form of online arbitrage in the eCommerce sector.
A merchant only has to identify a cheap product that can be sold for huge profits in high-demand locations.
If you’re in Nigeria, it is important to know that mini importation is one of the easiest and straightforward online businesses you can do.
No shenanigans. You control the process, and what you put in is likely what you’ll get from it.
So, in this article, we want to highlight some of the steps you can take to set up a mini importation business that you can start from anywhere with the potential to make a few millions.
Walk with me.
Identify A Hot Niche
The first step to setting up a mini importation empire is to identify a hot niche.
So, what’s a hot niche?
A hot niche is simply a product category where buyers are willing to pay good money for the product.
Most times, it’s either a trending niche or a niche where the product is scarce.
- A fancy electronics?
- A cool casual footwear?
- A rare flower vase?
- A trendy mobile accessory?
But the signs would be there that people are willing to pay for the product. You might even see other merchants making huge sales with similar products.
The good news is that you can always test the readiness of your customers by asking them to preorder or running a dud advert and analyzing the response rate.
Find a Cheap Supplier
If you find that customers are willing to pay for products in that niche, then it’s time to find a cheap supplier.
For most people today, China is the solution.
And you don’t have to travel to China per se. You can do all the transactions online from the comfort of your home.
There are many Chinese eCommerce websites that offer retail and wholesale products with great shipping.
You could use some of them and test how efficient the importation process would be. Stick with the website and merchant that meets your needs.
Find a Solid Logistics Partner
With mini importation, it is better to be in control of the logistics.
Many Chinese eCommerce websites would offer you different logistics options, but those are not really under your control.
Some of them might be fast, others could be slow and some might be disappointing.
You don’t want to be unsure about the ETA of your products, especially if you have customers who have made preorders.
If you’re in Nigeria, a good and affordable logistics partner is Giglogistics China. They offer affordable warehousing and shipping of goods to Nigeria, with all payments in Naira.
All you have to do is talk to their WhatsApp Chatbot, Kim on 0913 934 6234.
Find a Suitable Marketing Platform
After sorting your logistics, you have to find a suitable marketing platform to reach more customers.
This could be multi-channel, but it is best to test all channels to see which performs better.
You could use Facebook, Instagram, Twitter, Jiji or even a dedicated social commerce platform like Bumpa.
All you have to do is test the efficiency of your marketing with all platforms and decide which one is best.
Have An Adequate Budget
Even though mini importation is a small business that anyone could go into, it is important to have an adequate budget if you want to stay competitive.
As for that product you are about to import, there are many other mini importers who see the same opportunity and are going for it.
So, with that in mind, you have to come with a reasonable warchest, so as to avoid any bottlenecks and being outpriced by the competition.
Rinse & Repeat
Once you have everything covered, you have to do a test run.
If everything goes as planned, and you get the right products shipped in fast and quickly sold out, then all you have to do is rinse and repeat the whole process.
Most times, everything might not go as planned. You might get one or two complaints from your customers.
Then you have to adjust and finetune your mini importation strategy to meet the demands of customers.
And maybe you could be on your way to earning a few millions for your effort.