This guide will show you how to start eCommerce business in Nigeria. Starting an eCommerce business in Nigeria could be very rewarding. Learn about the things you need, steps to take to start your own eCommerce store in Nigeria just like Jumia or Konga.
Here, you will find help on how to setup your online store and ways to promote it.
Have you heard the popular say by Bill Gate?
“If what you sell (Business) is not on the internet, then your business will be out of business.”
Many Nigerians nowadays are joining their counterparts around the world to participate in eCommerce with the opportunities offered by modern technology. You too can tap into these boundless opportunities and start making money from eCommerce.
I once listened to an eCommerce professional on radio and was particularly inspired by his words that ‘if you look at the top five companies in the world today, they are online businesses, meaning they do their business on the internet’.
Top names like amazon, Baidu, eBay, Expedia, Uber, Groupon, Konga, Jumia, Jiji etc are all eCommerce businesses and you know their financial positions.
13 steps to start eCommerce business in Nigeria
Here in this article, we will cover the following areas;
- list of e-commerce business in nigeria
- how to start ecommerce business pdf
- how profitable is e commerce in nigeria
- how to start an ecommerce business like amazon
- e-commerce business plan nigeria
- e commerce registration form
- how to start an ecommerce company
To be honest with you, starting an eCommerce business in Nigeria is not as tedious as painted. Here, you will see everything needed to run a successful one at your disposal. Yeah, it’ll demand your time and cash but let be frank, it worth the dazzle and hassle.
Not telling a long story, Ecommerce simply has to do with making your selling and buying activities employing advances in technology. It’s undeniable that the world is tinting towards technology and every human activity can now be performed better and faster-employing one
The statistic shows that most countries are now embracing eCommerce, the business has started embracing electronic data as far back as 1960. Stepping forward of eBay and Amazon gave e-commerce new dawn as they contributed immensely to its worldwide acceptance.
What is eCommerce?
Ecommerce simply means electronic commerce. In further clarification, Ecommerce is the art of buying and selling of goods and services on the internet. From currier to catering businesses in Nigeria and many more, great opportunities abound for those who want to go into modern commerce.
How eCommerce Works
It is okay to have a desire of start eCommerce business in Nigeria, but excellent to have a clear idea of what to sell when you start. The idea is not just what to sell or the service to offer, but must be something that is relevant to people at all time.
Nigerian population is much, and greater half of this population is on the internet, therefore, you are on your way to tapping into this great population of internet users in Nigeria when you have something tangible or useful to sell online.
On the e-commerce platform, the more you sell, the more money you make, so choose a product or service that will give you enough sales leads to make as much money as you can.
List of e-commerce business in Nigeria
See the list of popular e-commerce businesses in Nigeria. You might need to visit their website to see how an eCommerce website look like.
- Jumia Nigeria
- SME Market Hub
Checkout The: Top 20 Online Stores in Nigeria
How Profitable is eCommerce business in Nigeria?
Before you wonder how to start an eCommerce business in Nigeria, make sure you research on the profitability of this business. The big fear has always been ‘fear of uncertainty”. Smiles, it’s normal to panic.
The good news is e-commerce is not only profitable, it’s thriving!.Come 5years, 10years even much more, it will always be the order of the day. There has always been an increase in the number of participants in e-commerce.
The cost of setting up an eCommerce store nowadays even when employing labor is nothing to be compared with the income you tend to derive. Warren Buffet in his quote said, “If you don’t find a way to make money while you sleep, you will work until you die”.
For sellers or entrepreneurs, what is the way out? Ecommerce!
This article will guide you on how to get started and build a profitable business in Nigeria.
Things You Need to Start
Before we have further dive, can we talk about what you need first?
Don’t think too wide! We are just starting. Nevertheless, to be frank, the first thing you need to be successful in any business is an entrepreneurial mindset. Hard times will come, the thing can’t be rosy all through, but with the right mind, you’re sure of victory.
Hope you’re ready for this great information? Okay, let get started. Here are things you need to get started in eCommerce;
9 steps to start eCommerce business in Nigeria
To achieve this, here are the guides to follow.
1. Draw Your Business Plan
Just like any other business, you need a good business plan if you want to start start eCommerce business. I bring this first because it is the road map that will guide your operation from the set up to doing business proper; else you may deviate from your original plan by alluring opportunities jostling for attention online.
Why not put the future in plan from.start? You need to know Ecommerce is not designed to be an industry, it is a tactic. Build a workable business plan and model your eCommerce need to run successfully.
Your model can be a Multi-vendor or single vendor e-commerce store. Each comes with its cons and pros.
You can request a detailed e-commerce business plan Nigeria from us. We will write it for you at a cheaper rate. Contact us today.
2. Open a Bank Account for your Business
Yeah! A lot of people uses personal account for business, how many are doing well. starting an ecommerce business in nigeria
The truth is, to do well in business, don’t use the money for business for personal goals. I ghat a better idea! Why not place yourself on salary from your business income and reinvest other profits to scale up the business.
3. Rent an Office Space
Are you planning of start eCommerce business? Then consider renting a physical office space. The size of your office for eCommerce business may not be a duplex, but at least a small parking space for your bikes is of utmost importance.
A medium sized office of say three bedrooms is enough to start with, but don’t fail to consider expansion because you never can tell what happens in the first 3-6 months, especially if your delivery is speedy and your service of good quality.
You need a good parking space because business might be popping your way more than you expected, so that you are not restricted from acquiring more bikes, which mean more business.
4. Create a Website (Online Store)
A website which will act as an online store is very important for those who want to start eCommerce business. That is where customers will be visiting.to carry out transactions with your business.
The quality of service and hosting costs also plays a role. There are far cheaper websites, but that is not for a business as complex as Ecommerce. Currently, the cost of setting up an eCommerce website in Nigeria lies between #150,000 and #220,000. It can be higher depending on the eCommerce software you want to use.
How to Create an Online Store for your eCommerce Business
Which will you prefer, a full website? Or single page site? As much as a full website will be the best it also has its cons. Yeah, it’s more expensive to build and maintain but far beyond that, a single-page website has proven to have more conversion than a full website. how to start up ecommerce business in nigeria
- Buy a domain name (using brand name is best)
- Buy a year hosting (we have many hosting sites, DomainKing, Bluehost, Spantrix…)
- Install WordPress
- Install Elementor Plugin
- Choose a great store theme
- Customize your site
- Install payment gateways (you can also allow payment on delivery)
5. Choose Your Payment Integration
Online payment gateway is very important thing you must consider when you are ready to start eCommerce business. You have to set up easy, safe and secure payment integration for your customers or clients to pay for products or services on your website.
We are getting to the climax! All steps so far are not e-commerce without an online presence. Get your business online. starting an ecommerce business in nigeria
Once your business has a website and payment gateway, even when you’re sleeping, you can be so sure of making sales. Enjoy the technology age, but then you need to add one last thing!
Payment may be made through Master card, verve or any other preferred method.
6. Acquire Office Equipment
Certain office equipment are needed to start eCommerce business. You will need to buy some office equipment such as computers, scanner, photocopier, and stationery.
At least two for a start, but prepare to buy more, especially if you are into currier. I have seen a currier company buy up to 15 bikes in the first two months of its operation. All.these should be in place before your business kick off.
7. Hire Your Staff:
You definitely need competent staff to start eCommerce business. eCommerce business is a very complex but fast growing business in Nigeria, so get ready for a continuous hiring process, as you will need more and more staff, especially Dispatch Riders.
You may need reinforcement for your entire workforce within six weeks of operation. I have been an eyewitness to this not too long ago.
The set of staff that will definitely give you trouble are the Dispatch Riders, so plan ahead. You can solve that problem by hiring a competent human resources or administrative personnel that will tactfully handle their problems. You also need to hire a very good personal Secretary and a Digital Marketing expert to manage your website.
8. Get Your Business Registered
Before you start eCommerce business in Nigeria, make sure your business name is registered with the Corporate Affairs Commission. Registering your business builds credibility in the mind of your clients. how to start ecommerce business in nigeria
Register with Corporate Affairs Commission and get your registration number to make your brand trustable.
At this stage, your are set to start eCommerce business. The next thing is to register it with the appropriate bodies. Visit the Corporate Affairs Commission to do that.
Like I always advice business owners, don’t cut corners while transacting business with public officials. Go the right way; get to the right place, meet the right person and pay what is required. problems of education in Nigeria
This costs at least ten thousand(#10,000) or there about. Find out and meet any other available demand then you are good to go.
9. Add Your Product Inventory
As small as this looks, it’s one of the most important you need in eCommerce. The question is what will you sell?
Why not jump to a conclusion yet. The best approach is performing necessary research to know what your potential audience wants. Either/goods or services knowing what your audience wants or problem they need solution for will help on which product or service to sell. how to start an ecommerce business in nigeria
Where to Buy Cheap Products
Since the goal is to maximize profit, do you know you can buy and make up to 10x profit on every product? It’s not difficult! Just know where to buy in bulk and at a reduced price.
If you’re looking forward to making more profit, then you should consider buying from 1688.com, a subsidiary of Alibaba. Buying from 1688.com allows you to get products at the cheapest price. Analyses have show china has the cheapest product.
Don’t be deceived! Though the product is cheap you can easily buy a fake product, especially when placing an order yourself from the site. Ensure you do your research well enough before placing an order. produce liquid soap
Mini Importation Guide
These are basic guide you through mini importation;
- Get a brand mini importation in Nigeria
- Get a reliable importation site to buy from
- Search for the product you’re buying
- Don’t forget to choose the right market and know what your environment needs
- Know the norms of your audience
- Always check product review before buying
- Pay for your goods
- Wait for delivery
Read more on: How to Start Mini Importation in Nigeria
Brand yourself! Branding is more than a business name, it includes logo, communication, tagline, method…
Have it in mind that the brand name must be short, simple, easy to remember, unique, and must reflect your brand.
11. Promote Your Business
Promotion is very important if you start eCommerce business. At this point embark on a serious online advertising campaign by the available Social Media channels. According to Neil Patel, a facebook ads is easy and over 2.5 million advertisers use the service.
There are many ways you can go about this, it could be through sponsored posts. Just look at a page whose posts are related to your product, send them a\quick message that you want to sponsor your posts with powerful images of your product or service. Google product ads are also a good go for your advertising or promotion campaign.
Social media has made it easy to increase reach in the twinkle of an eye. Sent up a Facebook and Instagram business page for your brand. Aside from using this to create an online presence, it should also be maximized to reach potential clients through paid adverts.
To reach more clients, paid adverts are very important. This can be done on Facebook, Instagram, Twitter or even google ads.
You will need this: 6 Tips to grow your business using social media
12. Advertise Your Product or service
Advertising remains the art of creating awareness for goods and services, be it traditional or online now popularly known as Digital Marketing.
After the necessary things have been put in place, embark on aggressive advertising to create awareness and attract attention to your business.
Pitch your adverts everywhere online and note that online advertising skills are not an option. If you are too busy for it, hire an expert.
13. Product Delivery and Logistics
Delivery of product has been made easy without you moving an inch from your house. Logistics is essential in executing a successful e-commerce business in Nigeria. quit notice sample
This can be achieved by either owning a logistic team (which is more expensive) or employing an already existing logistic team to help you out.
The key to successfully start eCommerce business or online store in Nigeria is to know exactly what product you want to sell or what service to offer.
This guide also showed that you set up your eCommerce business after you have taken time to study the product or service and improve on your knowledge about the product as per how it compares with the existing trend on the online market place. That being done, you are good to go on your eCommerce business.
On a final note, the tip to success in eCommerce is simply consistency. Follow the instruction, seek advice, attend a paid seminar and be consistent in what you do.
In little time, you’ll climb the ladder of success up, not forgetting there is no peak to success, you keep climbing.
Good Luck!Make money writing for us. Apply for Freelance writing jobs in NIgeria.
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