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Stats: 2,713,092 members, 6,409,391 topics. Date: Wednesday, 28 July 2021 at 04:24 PM
|How To Start Local Arbitrage Business by Gns247: 5:08pm On Jun 12|
Is Gems Noah here..
In this thread, we're going to quickly look at how to start a local arbitrage business that will generate between 100k to 200k and above every month while still doing what you love.
This is rather not a Google search information but what I've practically done myself and profit greatly from this business model.
But then you want to ask, what the heck is arbitrage?
Arbitrage is simply a trade method whereby you buy a product from another market for a lower price and take that same product to a different market and sell it for a higher price.
Let's say, you bought a Nokia 2310 for 2k in Aba..
You take it to Portharcourt and sell for 8k that's you've about 6k as your gross profit. Right..
By the way, the most common arbitrage traded by Nigerians is popularly call mini importation.
It's so call because it involves importing products in a smaller capacity
Or a handy method of importations.
But local arbitrage is different in the sense that you don’t need to import any single product from China
In fact, in most cases you don't need to buy any product until you get a customer.
Which is one of the the method I thought my students in EWS MASTERCLASS.
So to start your local arbitrage business
Here's what you need to do:
Identify a problem around you..
To easily spot a dying problem I've a method I call 4frameworks questions mechanism..
Here's how it works :
You basically ask questions like
Where I'm I now?
What's happening around me?
How do I come up with a solution for this problem?
But if you're not going that route, you can use online tool like Answerreplublic to easily spot people's problems.
Once you have identified your audience problem, go to a local market or online site like olist to find product that solve that problem..
Validate your solution using forums like this and Facebook groups to validate your product.
Once you're comfortable with the level of receptivity, you can go ahead and design a strategic marketing strategy using Instagram ads, nairaland ads, Google ads to reach your ideal audience with sponsors ads.
And start running targets ads to your products page.
I hope this helps you..
If you want further information, I have a free guide that will help you achieve this step by step.
If you're interested in the free guide kindly drop your whatsapp contact.
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