05/09/2013

How to start importation Business with less than N100,000

2 comments
Some days ago I posted about <how to ship goods from Amazon store down to Nigeria >. But in this article I will show you how you can do this as a serious business by importing cheaper goods to have them for quick sales in Nigeria 



There are different categories of product in Amazon store but which kind of product do you really need to start with having a little capital at hand initially. These product ranges from laptops, digital cameras,
electronics, accessories, mobile phones, toys, games, clothing, books, wrist watches, jewelries etc.
But before I go deeper into this post I will advice you to read my previous post on how to buy goods from Amazon store and have themship down to your door step in Nigeria.
What are the kinds of goods you need to order? Let’s assume that you are having N70,000 to start with that means you will need to order for cheap products.
So how do you do this?

·         There are different ranges of price tags on each products; so I will advice you to order for something less than $10 and have them ordered in bulk. Though at times a product might be limited to a maximum number of 30-40 to each buyer but what you have to do is to find another product that is related to the one you are ordering for.
So how do you locate this product?





In the Amazon search box just input the kind of products you want to order for plus the price you like to pay for each of the product (You can also search for used items).
·         If you are ordering for new products (which price will be higher compared to used products) I will advice you to buy in the accessories/electronics section and should also be what you will sell so fast immediately you have them in your hands right here in Nigeria.

The reason why am telling you this is that with your initial outlay you wouldn’t want something you will buy and start counting losses. But you can also start with clothes
Let me give you a clue of what I’m trying to say.

Now, let me say am having just 70k naira with me and I want to purchase bulk goods at a cheaper rate I will simply order for simple accessories such as electronic flash drives which price will be less than $10 and also won’t be difficult for me to sell because there are buyers with cash already waiting before the goods even land in Nigeria; more so when the goods are finally weighed the kg/size will attract a very low price compared to the heavy accessories. The reason why I’m pointing this out is because you are new to the market and with a little initial outlay.



So let’s calculate how much I’ll be able to make ordering these simple accessories. Let’s assume I ordered for electronic flash drive whose price is $7 (8G or 16G) each and I’m having N70,000 ($437.5).
But first, I won’t use all the N437.5 to purchase these products because I will have to keep $100 seperately for billing preferences. Now, I’m having $437.5 minus $100 =$337.5 remaining for purchase ONLY.

So, $337.5 divided by my cost price of $7 each (1,120 naira) will be 48 items that I’ll be ordering for at the rate of 1,120 NGN and when I want to sell them I’m going to tag each items at my own profitable amount around N2000. So how much will be my total profit when subtracted from my expenses.

So let’s calculate my profit and see if this kind business is worth doing or not:
48 items x N2000 =N96000
Total amount spent =N70,000
Total profit =N96,000 minus N70,000 =N26,000

My profit will be =N26,000. So its now up to you to decide if the market is feasible enough to venture into. Though there are lots of items on Amazon that you can chose from it depends on the item you find very feasible to you and with good profit. The above item illustrated is just one of good items that you can start with in some environments in Nigeria.

There are various options which you can choose from base on your market knowledge. And most importantly if you don’t have enough money for billing you can make research on the websites that offer FREE shipping to Nigeria, please don’t ask me this!

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2 comments :

  1. Thanks for this info bro, I learnt so much from this info

    ReplyDelete
    Replies
    1. you are welcome bro! Thanks for the nice comment

      Delete

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