How To Start Car Importation Business In Nigeria
The truth will always be that Nigerians love cars. It is a thing of pride and every average family wants to have a car. The flashier the car is the better for everyone. Starting a car importation business in Nigeria invariably means that you have a nice foresight. It is indeed a very lucrative one.
At one point or the other, people think of starting a car importation but are limited by various factors. It could be lack of information on car importation or the costly nature of the startup capital required or anything at all that has hindered you.
Today, we will expose you to how you can start car importation business in Nigeria.
The car business is as lucrative as it is expensive. It might be stressful at the beginning but it will eventually pay off.
Tips On How To Start Car Importation Business In Nigeria
1. Be sure of exchange rate
The exchange rate is a great determinant of the price of the cars. It also determines the amount of money needed to start the business.
2. Get a location
You won’t operate in a vacuum. You need a lot of parking the cars when you eventually get into the business.
The truth about car importation business is that being a jack of all trade and mastering none is not that profitable. It is better to have a brand that you specialize on. That, of course, will give you an edge over the others who deal with all kinds of cars.
In choosing a brand to specialize you should consider the location of your company. You will have to decide to go into flashy, luxurious and exotic cars if you live in a rich neighborhood. The same is applicable to living in a not-so-rich area, you go for moderate and cheap cars.
Get Your License
Ensure you get the license to deal with cars from the appropriate authorities. It permits you to buy and sell imported cars.
Attend the necessary programs
In an ideal situation, you will be expected to attend some education programs on car importation or car dealing in general. In some cases, exams will be written to determine if you are ready to deal or not. More so, the parking space or the location for your business will be checked to determine your readiness. Be ready for it.
Visit other auto dealers
When you want to start a car importation business, having a firsthand experience and training can be invaluable. To this effect, you are advised to visit other auto dealers to learn from them and to get cars from them at a cheaper rate.
You won’t drive all the cars you import. There are a lot of car dealers out there and the competition is hot. Invest in getting the world to know about the business. Explore all the necessary means available to you when trying to market your products. You can open a website and pay for social media advertising.
Get a trusted mechanic
You need a trusted mechanic or auto repairer when you want to start a car importation business. There will definitely be damages no matter how careful you are. You need someone around to fix the damages whenever it happens.
Guidelines On Car Importation From Overseas
The following are steps you will take when you want to start car importation business online.
2). Pick the cars you need when you have seen the full inventory and prices of the cars. After that, you click to demand the car of your choice that you will be able to purchase.
3). The cars will be shipped to you after payment and you will process it.
The following are steps you will take when you want to start car importation business in person
1). Locate a company where you want to buy the cars at a negotiable rate.
2). If you are traveling there, then you must have all your papers and license with you for verification purposes.
3). You are advised to go for the fast selling cars and not the ones that will soon become a load to the lot.
4). Make the payment for the auction price as negotiated which means you must have a concise knowledge of the brand of cars you will be purchasing.
5). You must get receipts for every purchase that is carried out for reference purposes.
6). The shipping will take place so the cars will be sent down to Nigeria.
7). The Clearing and courier of cargo will be done so the vehicles can be shipped down to Nigeria.
Once in Nigeria, business starts fully, no dull moment. This is where you start keeping records of your day to day sales and expenses, cost of maintenance and repairs.