If you want to set up an import business in Lagos, then you stay around.
In this article, we will explain how you can start an importation business here in Lagos. Having read this article, this edition will be a history of the past.
How To Start An Importation Business in Lagos
Seeing the large population of Lagos, and the fact that the city is at the seaport, starting an importation business in Lagos will thrive tremendously.
On the other hand, the majority of Lagosians prefer imported goods to local goods.
But before you launch into the import business in Lagos, you will need to have some good knowledge about how you can do it.
Starting Up a Small Import Business in Lagos
Here are some guidelines on how you can start a mini import company in the city of Lagos, and make an enormous profit.
Get Your Capital First
Without capital, the start-up of this venture will be like building a castle in the air. Since it’s a mini-company, you don’t have to wait until you have a few million before you can begin.
Anyway, that doesn’t mean you have to settle for less. For you to begin a successful mini-import here in Lagos, you won’t need anything less than ₦50,000.
This amount we have just mentioned will cover your expenses like, obtaining merchandise for your desired country, the cost of shipping, the cost of advertisement, and some additional expenses that may arise.
Identify Your Product
Before commencing this activity, it is intended to have a specific product(s) Bearing in mind that you wish to venture. Is it clothing, jewelry, furniture, spare parts, or electronics?
Whatever you can afford to start your own business, this is a good time to fix it. Remember, it’s just a small business; you don’t have to go to billion-Naira products.
In Lagos, we have some products that sell fast versus others. Some of these products include shoes, bags, clothes, wristwatches, gift items, waist trainers, body shapers, and many others.
Electronic devices like phones, sound systems, flash players, and many others are not overlooked.
Where Do You Shop for Your Products?
After identifying the product you wish to explore. The next thing you should take into consideration is where you’re going to get them. Our goal is to find a reliable supplier for your products.
Not only that but where you can obtain these commodities at a very low price, to make a massive profit.
While counting for a supplier abroad, you should be careful so as not to fall into the hands of scammers and fewer quality products for the reputation of your business.
Therefore, it is advisable to get merchandise from reputable stores to avoid the story that touches the heart. You may google search for stores and have some background verification to be sure of their reliability.
Make Your Payment
Once you have found a reliable supplier with the specification of items you want, you do not need to hesitate in making your payment.
Payments these days are very easy, fast, and secure, unlike before, where you will have to follow a lengthy procedure.
Anyway, thanks to the advent of online banking where you can send money through cash applications, a master or a visa card.
Select A Delivery Method
Since you buy goods from abroad, you will need to identify the kind of delivery method you want. There are two types of shipping methods for this type of import.
We have free delivery, which is accompanied by low fees. But it’s going to take a little while for your goods to arrive, and it’s typically 14 to 60 days.
If you are lucky, you can obtain your products in 20 to 30 days.
Then we also have premium shipping, which is faster than free shipping but will cost you a little bit of money. Merchandise is usually handed over within 3 to 5 days.
Some of the shipping lines that offer such delivery are DHL, EMS, FedEx, and many more. They are a reliable and secure delivery service in the country.
Once your goods arrive in Lagos, they will be routed to your nearest post office. Since you’ve given them your telephone number, you’ll be called to pick your items whenever they are ready.
Now that your goods are in your hands, it is time to begin advertising and sell your products. How do you plan on doing that? You can content yourself with many marketing platforms.
We have social media, recommendations, flyers, physical contact, and much more. With these platforms, people will get to know your little business and be condescending.
Since your import company is strictly in Lagos, you don’t have a lot to worry about delivering it to clients.
Hence, you are not going to spend a lot to send an item for a client based in Lagos, compared to those outside the state and to other distant areas.
Getting an online store isn’t a bad idea. We have some Lagosians who love to sit at home and order merchandise. These classes of individuals are already potential customers.
What else can I use for this business?
Oh yes, since you’re not proceeding in person to scout for a reliable product supplier, you’ll need to set up some structures in place to help you start up your importation enterprise effectively.
What kind of structures are they? We’re just talking about what facilities you’re going to need for this company.
Some of the facilities you need are a computer system or reliable mobile phone, an internet connector, an active and valid email address, a valid residential address to where your products can be delivered to.
Those are the key ingredients that you’re going to have to put in place.
Now, starting a mini-importation business in Lagos should be a thing of the past. We have provided some guidelines on how you can successfully start such a company in this Megapolis of Nigeria.
This business is really paying off, so don’t hesitate to start one if you get the chance. However, keep in mind that there are challenges.