Is Mini importation profitable?

Is Mini importation profitable?

Yes, the mini importation business is very much profitable in Nigeria. You can start with as low as 50k, but always have it in mind to go for goods in high demand, this way, you’ll definitely sell faster and make a huge profit.

What is mini importation all about?

As the name implies, a mini-importation business is a simple business where someone buys a product from overseas at a cheap price and re-sells it at a higher price for profit. This business is mainly done online.

Is importation a good business?

Import export business is a very lucrative business. While coming up with an idea costs nothing, executing and materializing is what will create a profitable business. Import and export of goods and services will always be a promising business and will help in opening up new avenues for you and your motherland.

How can I start an importation business with little capital?

Mini Importation Business Requirements in Nigeria A valid ATM card (Mastercard or Visa card) Easily accessible physical address. A minimum of ₦50,000 startup capital in your bank account. Get a PayPal account to buy your products (optional)

How do I become a successful importer?

How to Be a Successful Importer! (Infographic)

1. Have a piece of in-depth knowledge about your products. …
2. Negotiate effectively with your supplier. …
3. Analyze your insurance coverage. …
4. Contact the customs authorities. …
5. Maintain good relationships within your network.

What products are in high demand in Nigeria?

The top high demand products in Nigeria for 2021 are;

• Electronic Goods. …
• Fashion Items. …
• Cosmetic Product. …
• Health and Wellness Products. …
• Hair Wig and Extensions. …
• Baby Accessories. …
• Food and Groceries. …
• Phones and Accessories.