Export business is a venture that is yet to be fully tapped. Despite the huge income that comes from it, only a few people in Nigeria are tapping the opportunities available in the business.
Managing Director, Exporters Delight, Mr. Nnamdi Udechukwu, says that only little capital is required to set up as one can start out with as low as N150, 000 depending on the type of product he or she may want to begin with.
Udechukwu, who said he started his first business before the age of 20, today runs run his company in Lagos and operates in different parts of Nigeria.
The internet is obviously full of uncountable tutorials and articles about how to start importation business in Nigeria, Ghana, and South Africa etc. But the truth which most of those writers do not tell you or maybe forget to tell you is that exportation could be more lucrative than the popular importation business,” he said
Confirming the profitability of export business, he said exportation is one of Africa’s gold mines which are largely ignored.
“The internet is obviously full of uncountable tutorials and articles about how to start importation business in Nigeria, Ghana, and South Africa etc. But the truth which most of those writers do not tell you or maybe forget to tell you is that exportation could be more lucrative than the popular importation business,” he said.
He explained that the process is not as difficult as some people may present it in a bid to scare the small beginner.
“You can start exportation business in Nigeria, spending more time in your room or office using the internet, and less time getting actively involved in the whole process,” he said.
Udechukwu, however, warned that to start export business in Nigeria, one needs to acquire training in order to know and understand the basics/fundamentals of it all.
“Be careful not to be defrauded by some online self-acclaimed exportation gurus with suspicious offers and questionable attributes,” he advised.
Benefits of using the internet as a business venture
Except for some few and very essential things which require your presence, most things can be done with the use of a good smartphone or laptop from home! As far as international trade is concerned, an exporter is king over the importer.
Exposure to untapped market
One of the joys of export business is that it automatically exposes you to new untapped markets around the world, most especially when you have an outstanding product which cannot be easily found elsewhere on the globe.
Exportation increases your sales
As an exporter, you are not limited to the volume of customers you are to serve. There is no limitation to the volume of sales you can make. Exportation presents your products to many and willing buyers outside your country which results in lots and lots of sales from them.
In most cases, you will record more sales of the exported products to be 2, 3, or even 4 times the quantity of sales you make in your local market.
Your profit booms astronomically
More profit is equal to more sales. The mathematic is as simple as that, no boring formula is needed. As your sales gets high, your profits are propelled higher too. Exportation increases your profit from the average to a solid income subsequently.
Interestingly, most of the local products here in Nigeria or other countries in Africa sell for more than their worth when exported abroad. This is something unknown to a lot of people, and most exporters keep this as a secret to themselves.
For example you can get 20 metric tons of cassava from village suppliers for N100,000 (just an example , not the actual cost) and fortunately sell it in Europe for two or three times that amount of money. Although, it all depends on the country or products as every product has a country where the demand is at its peak.
Therefore, in such countries, you’ll be shocked to know how much those products could cost at that end of the world. Scarcity creates value, and, indeed, exportation is great for filling in the gap for such scarcities.
Exportation enables you to conquer the local market
Unlike doing business in your local market, exportation gears you up for unlimited growth in business generally. The low-demand nature of your local market which is often caused by excess availability of that product is obviously a threat to your business, simply because it can cripple your business from growing to its apex.
Don’t be scared by initial challenges
Well like most things, exportation has its own disadvantages or challenges . But you should know that those challenges should not scare you but motivate you toward a strategic planning of developing as many options as possible.
