One of the many ways of making extra income in Nigeria is to start an eCommerce business. This business model doesn’t require you to get a store; you can even do it in your bedroom.
Another interesting aspect of this business model is that you can start an eCommerce business in Nigeria and sell your products to people living outside the country. You just need to find an excellent way of getting the products to their respective locations.
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What is an Ecommerce Business?
An Ecommerce, also known as electronic commerce, is a type of business model where business transactions take place on the internet. There is a rise in this type of business model because there is no need to find a store, pay rent, or get a good location. The business is purely online. The only thing you need is to get products that would be in high demand and advertise these products to people online.
To start an eCommerce business in Nigeria, there are various steps you need to take to make it a profitable venture. You do not want to create a company that doesn’t generate profit. After all, profit is one of the core purposes of starting a business.
Steps to Start an Ecommerce Business in Nigeria
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Pick a product
This is the first step to take to start an eCommerce business. You need to pick the product you want to sell. As a beginner, you should pick just one product that you are very familiar with.
Make sure the product you are picking is a hot product with high demand. Also, ensure that it’s profitable and you are passionate about the niche that the product falls under. For instance, if you are passionate about fashion and you know so much about clothes, you can start the business of selling clothes online.
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Get your capital
Before you start an eCommerce business, you must have enough capital to get the products you will sell to your customers. This is the second step you need to take when you want to start your eCommerce business.
You can get this capital through personal funds, a loan, grants from the government, or friends and family. This business model is very different from the dropshipping business model as you need to have your products in stock before you can start making awareness for the products.
Read also: Affiliate marketing websites in Nigeria
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Get a very reliable supplier or suppliers of that product
This is the third step you must take when you want to start an eCommerce business, especially in Nigeria. After selecting the products you want to sell, get reliable suppliers for that product. Ensure that your products are always available whenever you put them out for sale. You do not want to disappoint your customers when they request your products.
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Create an eCommerce store
This is the fourth step you need to take when you want to start an eCommerce business. There are many free platforms where you can create a store for your products and start selling.
On most of these platforms, you just need to sign up and start uploading your products for sale. These eCommerce store platforms include Jumia eCommerce platform, Jiji eCommerce platform, Konga, Siggy, and Selar. Sign up and start uploading your products for free.
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Register your business name
This is a very crucial step that you must do when you want to start an eCommerce business. This step is crucial for the protection of your business. Unfortunately, many small business owners ignore this step because they believe it is a waste of money or not necessary.
Before you think of printing fliers, creating an IG page, and picking the brand colour, registering the business must be the first thing you should do. You need to be sure that the name you intend to use for your business is available and will not be available to another person. You can contact a legal practitioner for this and get it registered within two weeks. You can also reach out to me if you need help with it. Business registration is important if you intend to continue the business for a very long time and expand it.
Read also: How to register your business name with CAC, Nigeria
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Create a social media page
Social media has become a marketplace, so you need to key into this trend. When you open Instagram today, you will see many people posting their products ranging from clothes to shoes to bags and almost every product you see in shops on the streets.
The interesting thing about creating a social media page for your business is that you would be able to reach out to a wider audience. Take lovely pictures of your products and post them on your social media page. Make sure you open the social media page specifically for the business so that you can easily convince people to buy these products from you. You can sell your products on social media platforms like Facebook, Tiktok, Instagram, and Linkedin.
Read also: Social media platforms for digital marketing
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Buy your products in bulk
This is the next step you should take as soon as you get your capital for your eCommerce business. You need to buy the products in bulk from your supplier. It will be cheaper, and you can make more profit as you sell. Also, when you buy in bulk, your products will always be available whenever people demand them.
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Get a good delivery service
Your next move is to get a good delivery service. You can partner with a very reliable logistics company to move your products from your location to where your customers reside. You need to do this so that there won’t be a delay in delivering your products.
The efficiency of your delivery would help your customers trust you and buy more products from you. You can partner with more than one logistics company to avoid disappointments.
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Advertise your products
Apart from registering your business, massive advertisement is critical for making a profit in your eCommerce business. You need to advertise your products to your audience to be aware that you sell them, and then they can patronize you.
You can advertise on social media by running ads, WhatsApp status, WhatsApp TVs, Facebook groups, telegram, and Whatsapp groups. You can also use sponsored opportunities like the sponsored post opportunity on insight.ng.
With all these steps highlighted above, you can start your eCommerce business in Nigeria without any stress and start making money part-time or full-time.
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About Author
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My name is Olorunsola Omolayo. I am a legal practitioner, chartered accountant, and writer. I am also an Ebook creator who specializes in writing books and blog posts on business topics, especially online businesses.
My leisure activities are writing, seeing movies, and researching.
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2 comments
I will love to start this business to help my family
Hi Victor,
You can start an e-commerce business by following the steps listed in the article.