Obviously, we made up our minds to buy the original at factory price. Now, I am going to tell you how much we bought it shortly. It is so cheap you may even ask yourself if this is a scam.
So why are the phones so expensive in your country you may ask. Well, I asked the same question.
I talked to real importers, as in “Iya Olojas” “Alhajas”; the people who sell at Isale eko, idumota, and Lagos Island, big time shop owners in the trenches and streets of Lagos.
Listen, my coming to China is for one purpose – to find out the secrets of big time importation business, to show you this secret and show you how you can build your own successful importation business – without cutting corners.
So as you can see, I can not afford to stay in my 5star hotel room all day. I’ve got to go out into the streets and markets where the trades are happening, so that I can meet the market men and women who flew 14hours from Nigeria to buy their own goods.
After talking to these people, it all boiled down to a few things – you don’t fly 14 hours from Naija to China to make peanuts. The products you buy must cover the following cost:
Product Price =
Principal or Capital + Cost of Courier + Cost of Customs/Clearing + Cost of Advertising + 100% Profit
Most of the time, Principal is calculated at 100%, Cost of Courier 100%, customs duty or clearing 100%, cost of advertising 100% and profit 100%. Add all that together it give you 500%.
So, you buy a product and sell it at 500% higher than the original price. And most of the people I spoke with said the least they can do, is sell any product at the minimum of 300% of its original China price.
This means, if a phone is N3 for example, the minimum price it will be sold when it gets to Nigeria is N9.
Anything below N9, the trade will not be profitable for these importers.
And remember they also have to cover for the cost of return ticket from Nigeria to China and back.
Also remember you have to factor in exchange rates and the cost of transaction if these importers are using their ATM Cards to withdraw money in China.
(As you already know, there is a limit to the amount of cash you can travel with when leaving Nigeria, so you may have to rely on ATMs heavily to transact. And trust your banks, they charge you heavy per withdrawal when you are off the shores of Nigeria).
So, the Samsung Galaxy S4 sells in Nigeria for about N95,000. And we bought ours in China for N21,000.
The only reason I bought the S4 was to establish contact with the manufacturer because of you my readers, so that you can have the contact details if you are a paid member of the Importers Forum.
I have been reading emails of many people asking me to help them buy phones, below is the reply I have been sending to those requests:
Reader – Efe please can you help me buy 3 Samsung phones from China?
“”As per the phone, I have been replying people telling them that they can order it themselves using the contact details on the ImportersForum. When they do, they have to factor in Courier, tax and customs duty.
I bought a Samsung Galaxy S4, it comes with ear phone, screen protector, $45 original Samsung cover (which is sold in computer village), its features include – GPRS, EDGE, HSDPA, Speed 42.2 Mbps; HSUPA, 5.76 Mbps, WLAN, Wi-Fi 802.11, dual-band, DLNA, Wi-Fi Direct, Wi-Fi hotspot, Bluetooth, Infrared port, USB.
The point is, I don’t need the phone, I only bought it to make good contact with the manufacturer and start a relationship for the next time my readers and I visit China.
I have taken my time to describe the phone because I want to sell it off. The first person who pays into my account for the phone gets it. I’m not a phone seller, so I’ll not be buying any other phones after flinging the S4.
If you are interested, I have explained above, the concept behind the 300% pricing principle, so you can make the N65k payments into my account – my bank details are here.
Fact is, You can easily make N25,000 to N35,000 profit if you sell this phone as well.
On the other hand, if you want to use the phone yourself, buying this one will save you N35,000 flat. Go to computer village, you’ll discover it’s the fact.
Below is an image of the phone and its gadgets –
Author: Efe Imiren is widely considered Nigeria’s foremost, leading and most successful Female Information Marketing Expert, she is a Speaker, Author, Consultant and Successful Female Entrepreneur. She can be reached at www.businessforts.com