The recent increase in Smartphone users coupled with the epileptic power supply in Nigeria has created a new business opportunity for smart business men who are smiling to the bank on a regular basis through the sales of a device known as power bank.
Power bank is basically an electronic device that stores electrical power which can be used when needed. It’s no news that the mobile phone trend has changed in the country, Gone were the days people buy feature phones, these days everybody is craving a smartphone either in the form of Blackberry, Android or Windows and this has open a new business opportunity through the sale of power banks. In this post I will reveal how you can start importing power banks from China at low prices and sell for high profits here in Nigeria.
Firstly, you need to have adequate knowledge about the product before venturing in to it. Power bank comes in different capacities and I will use an analogy to explain how the capacity works. Just as you measure liquid in litres, so you measure battery capacity in mAh (Milli ampere – Hour), so imagine you have 100 litre tank of water and you are fetching from it with a 10 litre gallon, ideally it means you can only fetch from it 10 times (I.e 10 * 10 = 100). But if you are fetching with a 5 litre gallon, ideally, you can fetch 20 times (I.e 5 * 20 = 100). Now, I said “Ideally” because we are assuming some little amount of water did not get lost due to spillage as you are fetching or evaporation from storage, so how long you’re your 100 litres tank of water lasts depends basically on how often you fetch from it and the quantity you fetched, assuming there is no leakages or spillage.
That said, Battery capacities are measured in Ah (Amp hour) for big batteries like Car Batteries or mAh (Milli Ampere Hour) for smaller capacities like cell phone batteries. Now, if you have a 6000 mAh power bank and your phone’s battery is 1500 mAh, ideally you can fetch from your power bank four times before its completely drained. I believe you get the gist.
Now, having learned about power bank, let’s take a look at how we can make money from it. As stated above, power bank comes in different capacities, but the most popular are 2200 mAh, 5600 mAh, 8000 mAh, 12000 mAh and 20,000 mAh. Basically, these are the capacities people buys. The cost of the 2200 mAh in the local market is between N1, 500 and N2, 000 while the price for 5600 mAh is between N3,000 and N5,000. From Aliexpress, You can buy a 2200 mAh capacity for $3-$4 (N500 – N700),
while the 5600 mAh capacity goes for $6-$15 (N1, 000 – N2, 450), depending on the design and the seller you are dealing with.
Simply browse through the power bank catalogue on Aliexpress and check for the designs that interest you. However, you need to be extra careful when buying power banks from all these Chinese sellers. you need to ask questions from the seller before placing your order and remember; always check the feedback rating and score of the seller. Check what people that has bought the product before were saying.
Lets assume you decide to buy the 5600 mAh capacity for $6 (About N1,000), and you decide to buy 50 pieces which will be N50,ooo. Add N10, 000 shipping fee (Say you are using the service of a Freight forwarder) totaling N60, 000. That’s at N1, 200/unit. The market price of this capacity in Nigeria is between N3,000 and N5,000. Say you decide to sell yours at N2,500/unit; 2,500 multiply by 50 will give N125,000. Less the product cost, you have a profit of N65,000.
Selling this product is quite easy, you can decide to go to tertiary institutions around and sell to students; you can also supply shops that sells mobile accessories around you.