Export Business in Nigeria | Tomorrows Business

Introduction: Starting Export Business in Nigeria

How can I build up a successful export business in Nigeria from nothing and have fun doing it? Not only does starting an export business in Nigeria require little financial and no previous experience to commence. Starting your export business in Nigeria today will offer you the prestige of working with different clients from all over the world.

You don’t need special skills or previous experience in the field of export, but you should be very good at organizing and making things work out. Running a successful export business in Nigeria requires constant attention to little details, focus on quality and trustworthiness.

Maybe you are planning a trip abroad and want to make some contacts for setting up export business in Nigeria so you can start with them when you return? If you are good at selling and networking the starting of your export business in Nigeria will benefit you profitably. You must desire and be determined to succeed in this business.

As you start running your export business, many factors become obvious and easy to handle. For example, finding a freight forwarding agent to handle your shipment. Creating and nurturing good relationships with reliable suppliers and make sure you are very conscious of quality products at good rates. Getting all the necessary papers etc. Doing your business will become easier as you build up strategies that make things work.

How to join the upcoming Export Business Combo Training 

The advantages of starting your own export business in Nigeria are numerous. Once you get the business going, you will make much money and also enjoy a tax-deductible trip to foreign places. It is very profitable to start export business in Nigeria. You will be very surprised after establishing the business and maintain several business accounts on how much you would have piled up on a short time.

Take a tentative look into starting an export business in Nigeria. Though there are risks but consider the profits and swallow up the risks. It’s worth doing and you will have your free time to run other things

The export business is not for everyone. But it is a personal operation that you can run yourself– you don’t have to answer to anybody. The rewards of negotiating in a foreign country are excitement, a touch of the exotic and the great profit potentials. When you make the proper contacts and follow through completely with reputable manufacturers, reliable shipping companies, and responsible distributors, you have it made.

How Export Business in Nigeria Works

Of all indigenous manufactures, only a few distribute and export their products even when some end users of their products are scattered all over the world. Starting an export business in Nigeria is the only way to find more foreign markets for their products. There are so many Nigerians abroad craving for their local products, you can take the advantage and start your own export business in Nigeria today.

It is so obvious that many indigenous manufacturers would want their products to go viral and worldwide, it is not that very easy especially when the company is limited to its abilities and scope and that is where you present your export business and detail how you can introduce their products into a worldwide market.

An exporter is a matchmaker. Manufacturers of indigenous goods seek profitable foreign markets; Our local manufacturers want their products to be enjoyed all over the world. You need to find those markets that seek indigenous products, do serious networking and create a solidify connections with them, then establish business relationships with them.

The market is ubiquitous and there are many manufacturers/producers looking for foreign markets. foods, clothes, hair accessories, solid minerals, wood products, arts, local shoes-anything of indigenous nature can be readily exported if there is a consumer demand and if you can get the products to reach the consumer.

Basics of Starting Export Business in Nigeria

It is very possible to start your own export business in Nigeria at home just with a telephone, a file system, business cards, verified profile but it is very advisable to have a verified address as fake suppliers have polluted the market.

You will need a professional letterhead. Your letterhead will somehow tell prospective clients your credibility. Your letterhead stands and represents you. It will be very advisable to have your letterhead embossed, two-colours or gold leafed. Make sure your letterhead is printed on a light-weight paper for airmail correspondence, but your airmail envelopes should not be printed on!

You need the determination to make starting your export business work. It will be very ridiculous in the beginning but you have to plan your move, make contacts and sell yourself to the world. I am very sure that it may be very slow in the beginning but I guarantee you that success is on your way. So, you must be dedicated and determination to succeed.

How to Get Contacts to Work with Your Export Business in Nigeria

Finding genuine contacts is a very important step in setting up your export business in Nigeria. If you have relatives in foreign countries, maybe you have visited frequently and established business relationships in a country. Or, you might just have a feeling for what will sell where. You must be well informed especially in your business area and always ready to ride with new trends

Going online for contacts will be a good step. The Internet has removed one of the constraints in doing business worldwide. With so many platforms such as search engines, social media, websites you can take advantage of them and present your business. Those that need your products or services will know about your business. You can also use search engines to win some contacts between those that have an online presence.

Foreign embassies located in Nigeria may also be a good place too, sometimes they can help in finding indices of those that are in your area of business. Foreign embassies can help you with contacts who are into commercial distributions of your kind of products. They can also help you with the company’s solvency and reputation.

Another way to establish contacts is through the Chambers of Commerce and NEPC.

Start small then grow. Where do you want to sell Nigerian goods you have in mind? Which countries and what is in high demand? Find out about the countries then focus on getting in touch with dealers of your kind of products over there.

Then prepare a massive mail campaign, the easiest way to mail hundreds of letters is to use a typing service that has the equipment to produce the same letter with a different address each time and you can also track the performance of each campaign. To every possible contact, write a letter introducing your company, requesting the names and address of the appropriate department to contact.

Analyzing Markets for Export Business

Keep informed. Read everything you can find about export business. Get some experience from those already into the export business in Nigeria.  Look at trade publications, newspapers, news magazines, and financial reports. Who is selling what to whom?

Finding the right market is as important as the actual particulars of making deals and selling products. What do you think will sell? If you do some careful studies and think about the trends, you’ll be able to come up with hundreds of products to export. Those into the export business in Nigeria is actually smaller than you think.

There are only a few of these businesses; that’s why there’s plenty of room for more.

Where To Find Help For Your Export Business

Attending training from those already into an export business in Nigeria but make sure it’s worth the time and money.

Establish a good business relationship with Nigeria Export Promotion Council and those already into an export business in Nigeria. Attend training and workshops. NEPC is a great place to find help… The council promote the import/export business and publish many small booklets and pamphlets. They also distribute continually updated reports on foreign markets, commerce and financing. Read these sources of information and find out the particulars of exports, global surveys and air or ocean freight guidelines. Become familiar with the market share reports, current laws and regulations, and government promotional facilities.

Getting Exportable Products

There are many indigenous manufacturers with limited distribution looking for an overseas market. Exporting their goods is the place to start your business. You must have many selling qualities for convincing the manufacturers to engage you as the sole export agent. You have foreign contacts and know the demand for specific products.

You will handle the sale, the paperwork, the money, all shipping, customs, and foreign distribution. The manufacturers in return provide firm price quotations, and you put your fee on top of that; you cost the manufacturer nothing. The manufacturer has everything to gain–an increase in sales, a broader market, and more profit. And you have everything to gain–establishing your business, and a commission on the cost of the goods.

You can make these contacts by phone, in person, or by a personal introduction from contacts, you may already have. Or, you can advertise in business publications and newspapers. Before you do get into a legal agreement, be sure to check the reputation of the company. How long has it been in business? Where are the products distributed domestically? What is the solvency and reliability of the company and its goods? When you make your sale, you’ll want to be able to deliver.

Making An Agreement

Once you have agreed to represent the manufacturer as the export agent, you need to have a written and signed contract to bind this agreement. You can get a lawyer who can draw up this contract; later you can just use the same one, substituting names of other manufacturers.

The agreement should basically state that the contract is between the manufacturer and you as the export representative.

The manufacturer will pay you the specific commission quoted to the distribution on top of the price of goods. The company will also provide catalogues and samples for your use in distribution. You, the export representative, in turn, will promise to do everything possible to make contacts and distribute manufacturer’s goods in foreign territories.

Terms Of Shipping

As you gain experience, you will become more familiar with the terms of shipping used in quoting prices and delivering products. Find a reputable freight forwarder to be clear of the things to do. For instance, A bill of lading which is a receipt for goods shipped, signed by an agent of a ship or a common carrier.

FOB which means free on board. The seller delivers the goods to a certain destination with no additional charges. The seller insures and takes the responsibility until that point. The buyer takes the responsibility and pays the charges after that.

C & F means cost and freight. The seller pays the freight charges. The buyer insures the merchandise and takes full responsibility after the destination.

CIF means cost, insurance, freight. The seller is responsible for the value and condition of the goods and pays both insurance and freight charges to a certain point. The buyer is responsible from there.

The Freight Forwarder

A freight forwarder is a person who takes care of the important steps of shipping the consignment.

Duties of a freight forwarder include:

• Quoting shipping rates
• Provides routing information
• Books cargo space
• Prepares export documents, contract shipping insurance etc.
• Routes cargo with the lowest customs charges,
• Arrange storage facilities.

They can be found by visiting shipping terminals, airport, online or by personal referrals which is my preferred method.

How To Promote Your Export Business

After you have completed a few sales transactions to establish yourself, you’ll need to promote your export business to get more clients. The first transactions give you the experience to learn the ropes of the business and to establish contacts and agents both here and abroad.

• Build an optimized and targeted online presence
• Join organizations of commerce and foreign trade associations to develop more contracts and extend your territory.
• Talk to everybody you contact about your export business in Nigeria.
• Advertise in the print media for distributors and for goods. Manufacturers don’t know how to make the contacts for foreign distributions. Show them your credentials and pick them up on exclusive contracts. With a little experience, you can market almost anything anywhere

How to Succeed Doing Export Business in Nigeria

Export is a high-profit enterprise, especially when did very well. But building a truly profitable business requires dedication and a good knowledge of the business.

• You will need numerous contacts who can recommend your work.
• Have good agents both here and abroad to help follow through on the delivery of the goods.
• You need a good working relationship with your own bank
• Don’t be hasty for orders.
• Investigate the manufacturers and distributors to be sure the products and sales methods are reputable.
• Check out the particulars of shipping and importing requirements

Conclusion

Though starting an export business in Nigeria is not that easy especially at your first stage but if you persist and determine to succeed you will make profits that will make you forget the struggles.

If you are very serious and ready to start an export business in Nigeria, I recommend you check out this SPECIAL TRAINING by a performing and reputable export company in Lagos or comment below with your questions, we will make sure to give you every necessary answer regarding on how to start export business in Nigeria