Importation business is one of the most lucrative business you can think of in Nigeria or around Africa. That being said, to start the business, you need a working capital and a reputable personality. You shouldn't have a criminal record if you will like your business partners to trust in you, some importation businesses doesn't even need a capital to start, all you need is to gain a trust from the company overseas and a working contract. The contract that will state that you will pay as you sell the goods.
In this article, I will teach you the steps to follow to start a successful importation business in Nigeria and elsewhere, from China.
There are variety of products you can import from China, ranging from shoes, cloths, electronics, furniture and phones and phones escessories.
I'm not promising you its a easy task to accomplish, it takes time, money and good dealings to maintain the business relationship.
1. Obtain an Import Right
The good you're trying to import, will it be for commercial purpose, personal use or for community purpose. After you've determined the purpose which will definitely be for commercial purpose is, buying and reselling. You will be handed with an import right by your country importations services such as the Custom authority and thereby hand you a serial number to be attaching with your goods.
2. Choose You
To become successful in importation business, you will have to choose a trending or the right product to import. This will save you time and money you will waste on a wrong product.
In choosing your product, always stick to a product that having a high selling speed and potable so it can be shipped in large quantity.
In all, choose a product you will like selling because your joy will manifest in how you will market the products.
3. Is The Products Legal
Some products are not allowed to be imported in a particular country because the government have place an embargo on the kind of products. So make inquiry whether the country of destination allows such product to be imported into the state.
4. Check The Tarrif To Import Such Goods
You should charge how much it will cost to transport such product from China to Nigeria or elsewhere. He much the product will be sold in large quantity and in smaller quantity. You should also check the charges that the Custom authority will place on the good and the freight to transport it from sea down to Nigeria.
5. Search For Supplier
You should meet with the vendor and the shipping company to discuss the terms of the contract of importations. It is always advisable to employ the services of a lawyer to draft your contract to avoid being on the wrong side of the contract. Your lawyer will ensure that your supplier will ship under FOB terns from their nearest shipping port to reduce the cost of shipping.
The terms will show how long the cargo will stay before reaching Nigeria and how much it will cost. Also ensure your goods with an insurance company in case of any disaster.
Remember, the business transaction in international level is built on trust between the both parties.
Follow this above step in your quest for success in the international market and you will be thankful for it later.
Always do more research and ask questions where you're confused so you can be clarified.
GoodLuck!
ReplyDeleteHello,
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