Shop on Aliexpress. Sell on Konga

Tips to Make Money in Nigeria

Home | Small business | ( 3 ) | Subscribe

Posted by on Thursday October 23, 2014 at 8:47:35:

Here is a new business model that can help you make some good money in Nigeria and many people are already going into it. All they basically do is buy things on Chinese websites like Aliexpress and then sell them in Nigeria on retail selling sites like Konga.

For those who don't already know it, Aliexpress is a top online shopping destination that ships things to Nigeria and they also sell to Nigerians. You can buy a lot of things on Aliexpress at a good price because they are mostly produced in China and they would also deliver the items to you in Nigeria though postal mail and in that way, save you money on shipping costs.

This business model is mostly recommended for people with little capital such as N1m(about $6000) and below. If you have more capital, you can probably make more profit if you import directly from manufacturers using a shipping container and that would require about N5m(about $30,000) and above.

Sites like Aliexpress are where I've bought some cool stuff for cheap and it has really helped save me money as an online shopper. I've bought some items I really needed for personal use but I've also started buying them for resale. One thing I've noticed it that most of these items being sold on Aliexpress are also sold in Nigeria but they tend to be priced a bit higher. You can make money by importing from China using Aliexpress and with little capital.

Konga on the other hand is an online shopping website that operates in Nigeria and sells a lot of stuff. They accepts payment in Naira and also ship to people's address throughout Nigeria whether the buyer is living in Kano, Lagos or Abuja, Konga does deliver nationwide. Apart from the fact the Konga has become a favourite shopping destination for Nigerians who shop online, it's also becoming a selling platform for peopel who want to sell things online and they do that by means of their platform called Konga Marketplace.

Konga's marketplace is a platform that allows merchants or sellers to sign up and list their products for sale on Konga such that Konga helps them make delivers and collect their sales revenue for a small commission.

What this business involves is first of all having capital in your bank account, having a shopping card e.g. Visa or Mastercard, buying things on Aliexpress, receiving them through NIPOST, warehousing them, listing your products on Konga and then submitting the products to Konga when people order for them. Konga will deliver the items for you and also collect the money which they'll pay later into your bank account after deducting their own commission which is less than 10%.

Before listing your items on Konga, you should consider the costs of your products first and include things like exchange rate used when buying on Aliexpress, shipping costs if any, custom duties if any, VAT on Konga Sales and Konga's sales commission before arriving at your selling price after making consideration for your profit.

Before starting any business whether importation or anything, It is always good to dedicate a bank account for that business and ensure that all your payments and income is passed through that account as this will help you know how much you are spending and how to calculate your costs.

If for instance you invested N500,000 into a bank account for this business, you would be given a Visa or Mastercard from your bank and with that you can use it for online shopping on Aliexpress. You should also use the same account to make payments for things like custom duties if any and also your sales revenue on Konga. It is not compulsory but it's helpful as it will help you know if the business is profitable or not and what to do about it.

When buying things on sites like Aliexpress and importing them to Nigeria, I've noticed that it's not every time one has to pay import or custom duties but it mostly depends on the volume of your imported items in terms of sale value. I think imports below N50,000 are not mostly charged but it's almost impossible to import something worth N200,000 and not expect to pay import duty on it before collecting your package. If you have any duties to pay, NIPOST will normally notify you and you'll then pay into an account specified for that but it's normally rare for low volume imports.

I think shopping on Aliexpress is a reliable way small scale importers in Nigeria are already making money and some have made millions doing so already. Konga is a good platform to sell your stuff and they allow you to make money in Nigeria.

Shop on Aliexpress

Sell on Konga





Comments:
Re: Shop on Aliexpress. Sell on Konga Reply by Joshua on Sunday January 4, 2015 at 16:2:58:

Pls i need your phone number to ask some questions.



Re: Shop on Aliexpress. Sell on Konga Reply by Felix Okoli on Sunday January 4, 2015 at 16:2:58:

Ask me any question here and I will answer it


Re: Shop on Aliexpress. Sell on Konga Reply by sandra on Thursday January 15, 2015 at 22:40:43:

Pls, is it a must dat you must pay for shipping cost wen the product is tagged Free shipping? Coz I ordered a product not less than $10 and I was asked to pay for a shipping cost worth $55 for DHL



Re: Shop on Aliexpress. Sell on Konga Reply by Felix Okoli on Thursday January 15, 2015 at 22:40:43:

If the product is tagged free shipping, then there would be no DHL cost on it except it's a mistake. If there is a DHL cost, then it's not free shipping. Paying $50 for shipping a $10 item doesn't make much economic sense and only suitable for things you want urgently.