Importing is the practice of having goods manufactured very cheaply in other countries according to specification and bringing them into your own country to sell at very high margins and profit.
It’s a very lucrative business to start and has the ability to make you very rich quickly.
But Was a Problem
I was pretty hard to break into this business.
Because. . .the people in this business DO NOT ever want others to join them.
Think about this. In fact, I challenge you to go out to any major market or to any major importer’s office and ask them to let you in to their secrets. Good luck with that.
It’d be easier to have a camel pass through the eye of a needle before any one of them will ever teach you their secrets.
Why is this?
Simple. Nobody likes competition. In fact most business people will rather have their family and friends depend on them for scraps rather than show them how to fend for themselves.
Successful importers do not want others to know their secrets because importing is a very profitable business, in fact it’s ranked as the second most profitable after the oil business.
It’s almost like a secret ‘old boy’s’ club. Outsiders are not welcomed.
Even if you did find the money to get started, you’d need to go through a lot of hassles, you’d make a lot of mistakes and may end up losing all the money you invest in it.
Back In The Day,
If you wanted to become an importer, you needed to have a lot of money, at least =N=1,000,000 (1 Million Naira) because manufacturing was expensive.
You also needed to travel to whatever country you’re sourcing your goods from, physically arrange them yourself and have them shipped.
When the goods arrived, you then needed to battle with import agents, and grease all the palms of Customs officials to have them cleared and released to you.
Then you needed to find a market to sell the goods.
It was hard, very hard. No wonder why there aren’t very many people doing it that way.
But Now Things Have Changed. .
The old way of importing has been replaced by a new system that’s easy, cheap and still extremely profitable.
Because two things happened
The first one is called . . . China.
The second one is . . . the Internet.
First let’s talk about
The emergence of china as the manufacturing production powerhouse of the world suddenly made sourcing of products very easy.
China with a population of over 1 billion people has tens of thousands of industries and factories churning out thousands of products.
Here is an example of the number of manufacturers just in China…