Are you wondering how to start importation business in Lagos? Read reading this ultimate guide for Nigerians.
The importation business in Lagos is highly lucrative and makes a lot of profit depending on the nature of the goods.
Table of Contents
What Is Importation
This involves importing goods for other countries to Lagos, Nigeria, and reselling the goods locally.
It involves buying the goods at a cheaper price and selling the goods at a higher price to make a profit.
The importation business is mostly done online.
Vital Factors To Consider Before Starting Imprtation Business In Lagos
The list below are the main factors you need to consider before you begin the import and export business in Lagos:
1. Choose a fast-selling trade item.
Beware of the products that are profitable from other countries.
2. Register your business with the Corporate Affairs Commission.
3. Find a supplier online that sells items at wholesale prices.
Those sites include amazon, ever buying, Aliexpress, and iPmart.
4. Choose the right market locally for your products. Understand the norm and the behavior of your customers.
Types Importation Business Services In Lagos
Here are the two (2) main types you need to know:
1. Free shipping – this process takes longer, up to a month, to get your delivered goods.
2. Premium or Express delivery – this delivery is done by other external logistics companies and can take three or five days to deliver the goods.
How To Start A Mini Importation Business In Lagos
If you want to start a mini import enterprise in Lagos, then you need to follow the basic steps below:
1. Select what you want to deal with in your business. This is the most important decision of a business
2. Source for the products. Find the best supplier that will supply you with goods.
3. Buy the goods from the trusted supplier
4. Pay for the products
5. The market for your imported goods
6. Sell your products
That is all you need to do.
What Are The Basic Equipment You Need To Start An Importation Business?
Below are the things you need before starting an importation business in Lagos:
1. A smartphone or a computer
2. An email address, a valid one
3. Internet connection
4. An ATM card, valid one
5. A physical address, accessible one
6. A startup capital
7. A PayPal account where you can pay for goods and services
Kinds Of Products That Are Imported Commonly Imported In Lagos
- Utensils and domestic items
- Computers, phones, and other accessories
- Clothing products and pants
- Pieces of jewelry and cosmetic
- Electronic items and appliances
- Construction and building materials
Why Importation Enterprise Is So Easy To Start
1. The business is suitable for everyone.
2. Because of the high population of people in Lagos, means there is already a market for the goods.
3. It is an exciting business for young people to engage in.
4. It is highly profitable. It is lucrative and can help you earn money within the shortest period ever.
5. It can be done as a part-time job.
6. It can easily be managed because everything is done online.
That is all we have for you about how to start an importation business in Lagos.