Sounds unrealistic? Maybe I should up my game a little bit by saying; you can make more than #60,000 every month from importing wrist band! Is the wristband market really that big? Do Nigerians spend that much an ordinary accessory? The answer is yes! You probably have one on your hand right now, and if you don’t, look around your vicinity and see how common the wristband is. Now that you have interest in it, you would begin to see wristband everywhere you look (That’s how our reticular activating system works).
The business of mini importation has to do with the little thing you probably never take cognizance of, and it takes a thinking mind to discover this lucrative opportunity, there are bunch of items that are of high demand in Nigeria, but we mostly neglect them because we focus too much on clothes, shoes and wrist watch. One of these items is the common wristband we wear for casual fashion.
Importing Wrist Band
Today, I would discuss in details how you can actually make a huge monthly income from importation of wristband; especially this festive season.
Before I proceed in listing out the categories of wristband that are of high demand, it is important to point out that when it comes to wrist band, people prefer quality material with a thick diameter and attractive colour. In listing out the product category, I will give insight into how and when to import wristband in these categories.
There are basically four categories of wrist band:
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- Religion: In this category, we have church wristband, mosque wristband, atheist quote, just thinking of anything that has to do with religious believe. People like to proclaim their believe through symbols or logo, that’s why an RCCG member will have a wristband with the name of his church on it, the same things goes for Winners member and Muslim societies. Importing wristband in this category requires an extra level of targeting, take for instance how high the demand for RCCG wristband would be during their annual Holy Ghost congress program, or Winners Shiloh program in December. The idea is to import this product at the right time, and sell them off as early as possible, although there may be demand for them even after or before the annual gathering, the sales during this period cannot be compared to when there is a reason for all members to gather for an event.
- Sport: Manchester United and other popular football clubs does not produce official wristband for sale in Nigeria, even if they do, their local fan would probably not be able to afford it, however, we see wristbands with various football clubs name on it. These wristbands are imported from China by mini importers, and they make huge profit from this business. The right period to import this kind of wristband is during the beginning of new football season and the end of football season. All you need is creativity, with attractive tag line, and the club logo.
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- Celebrities: You can import wristband with Nigeria celebrities and pictures on it. This is not seasonal and can be sold at any point in time.
- Political: Considering this is a period of election, you can easily make tons of money from importation of wristbands with political party name and colour on it. If you’re highly industrious, and know your way around political aspirant, you can offer to produce campaign wristband for them. Pitching your idea to political parties in your area would make you bunch of money.
- Social: Some people are generally not political or religious incline, they just prefer to have a wristband with some life quote on it. Most of this wristband bears random quote and they are not seasonal and can be sold at any period of the year.
Where to buy from
Now that we’ve discussed what to buy and how lucrative the market is, the next thing to consider is where to buy it at a price that would give huge profit margin when it gets to Nigeria. Normally, I advice mini importers to consider 1688.com when buying items, mostly because it’s cheaper than other websites; it also gives room for extensive bargain with seller for better price.
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In this case however, we would not be buying from 1688.com mainly because we would be customizing our product, and we can’t afford to have any error on the product, so we need to transact in the language we understand and ensure that everything is well planned.
We would be ordering from http://www.alibaba.com . Once you log on to the website, search for wristband and you would have a search result with various company that make wristband, contact as many of the company, tell them the number of wristband unit you want, and ask for quotation. The price might differ based on the quality of the materials that would be used, and the customization option.
Once you establish a communication (mostly through emails) with the company you would be ordering from, discuss customization and send them the name, pictures and symbol, after which they would send samples of the design to you, you can then select your choice and make payment for the product. Once everything is done accordingly, you should have your wristband in Nigeria within two weeks.
NOTE: I decided to summarize the process of purchase and payment because we have discuss this several times on this blog, you can read on how to make payment for goods here
Making Profit from Wristband Importation.
In this section, I would give a breakdown on how profitable this business is….
I surveyed around Alibaba website and discovered that the cheapest price a company is willing to produce a customized wrist band is #30 per piece. The price would reduce significantly if you’re ordering in a very large quantity,
Let’s assume, you ordered 1,000 piece, which will cost around #30,000 in purchase and shipping to Nigeria, The average selling price for a good wristband is #100, which means you would be making #100, 000 after selling the 1000 pieces you ordered. Subtracting the investment capital from the amount you make will result into approximately #70,000 net profits.
With the statistics above, this is definitely one of the best business discovery this year, you can read my article on diapers importation for another superb business idea.
This is a call to action, it would be unreasonable to read all this things and not act on it, people are living on this business, and I see no reason why you shouldn’t make nice income from it.