Power banks are electronic devices that are mostly made of batteries and designed to store electric power so that it can tapped or used when needed. The kind of power or charge which are stored in Power banks are meant to be used by other devices other than themselves and these includes mobile phones, tablets, digital cameras and computers.
Power banks are like commercial banks as they help users store their wealth for later use when necessary. In the case of power banks, their wealth here refers to electrical power.
In Nigeria, the issue of power is still a problem and there is unreliable power supply and so there is a need for people to have a means of storing power when it’s available so that they can use it when it’s not available.
Just like Joseph had the wisdom to help the Egyptians store up food during their days of abundance for later use, so also were tech companies inspired to manufacture power banks for people who use electronic devices.
People will always recharge their phone batteries and mobile devices and some even like doing it while they are on the road but access to power is not always reliable most especially if one were living in a country like 21st century Nigeria. The 21st century Nigeria is no longer willing to wait for NEPA or generators before using his electronic device and so the need for alternative sources of energy is a growing one and a hot market that should be tapped.
It’s no longer news that there is a growing number of Nigerians who now make millions importing finished products from China, the business is power banks is also a lucrative one and should be tapped.
I recently browsed through some online shopping websites in Nigeria and notices that the prices of power banks sell for about N2000 for the 5600mah ones and there are other power banks too such as 1000mah, 5000mah and 10,000mah. However, I was also marveled that these same power banks sell for about half the price at Chinese websites like Alibaba and Aliexpress.
If you are able to buy these power banks fromAliexpress for instance for $6 and decided to sell them for $10, it is still a profitable business. Chances are that you could even buy it for cheaper if buying at wholesale prices from sites like Alibaba or by even visiting China and doing a container importation yourself.
The business idea is to source for cheap power banks from sellers in China and resell them in Nigeria. You can decide to buy it directly fromAliexpress or buy it at a better price by traveling to China directly.
Let’s assume you decide to buy it from Aliexpress for about $4 or less per unit, you can decide to buy 100 units and you pay for it. It will be sent to you in Nigeria using China Postal mail and then to NIPOST from where you will collect it within about 30 days or so. When you receive your package, you may be able to sell it for about $10 and for that 100 units, you will have made about $600 profit.
If you have bigger capital and can import a container, you can always travel to China to meet the major dealers and get a good price for your business. It profits more if you import in bulk rather than small units. You will however need a good warehouse for that.
I think it’s a good business to do as many Nigerians need a reliable way to recharge their mobile phones since the Power company is not efficient. Some power banks are even smaller than mobile phones that people can even use it in their pockets while on the go.