The Ultimate Guidelines For Recharge Card Business.

When we talk about Recharge card business in Nigeria, this business is very lucrative, provided you have enough money to start and run it effectively. 

It is a business you can start anywhere in the country without fear of low patronage, provided there is GSM Network services and people are living there. Once you have the money to start, you are good to go in your own little way.

Introduction:

This business is capable of making you good money if you do it well. Before today I believe many bloggers have been written on this same GSM Business for some years ago, either how good it was by then or how worsted, but have since retired it since most of the subject matters are no longer relevant in today’s market. The business changes day by day and you need to know about these changes to stay afloat.

No business has been hyped and over hyped as does Recharge Card Printing Business in Nigeria in recent time due to selfishness and desire for quick gain. Contrary to Seminars and e-Books claims, Recharge card (printing) business is not a business you can start with ₦10,000 and becomes profitable. No, it’s not possible to make reasonable gain with that amount except you have additional sources of income as another part of business mixing it with from there you can make it as well.

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For instance; You have a provision store and decides to sell recharge card as part of your provision items, or you have restaurant and decides to offer recharge card sells as compliment to your food business, mainly to satisfy your customers so that they can relax and load their phone after eating without having to move around to buy it. This way, the little gain you make from the recharge card will add up to the general gains in your business.

Also If you want to start recharge card business as “Independent Business” that is, selling only recharge voucher on a small scale, you must start with nothing less than ₦100,000 if you really wants to make reasonable profit. The reason is because the profit margin per card is so low that you have to sell plenty to make any visible gain. That means you have to start as a wholesaler, selling in bulk to retailers who combines it with other businesses.

How Is Profit In Recharge Card Business?

The profit you make per ₦1000 recharge card is below ₦30 or ₦60 itself, depending where you're living. However, you're dealing with N10,000 worth of cards, you will be making ₦ -60 x 100 = ₦ -6000. Why I am using -60 is because you might be in a certain Area that people may not agree to buy it as ₦110 or ₦120 per ₦100 recharge card. So, how do you expect to become a millionaire with just N10,000 recharge card that yields about ₦ -6000 profit?

Best Amount To Start Recharge Card Business.

Therefore, if you start the wholesale with ₦150,000 and sell to retailers, you are sure to sell ₦100,000 worth of cards everyday as long as you have good customer base. Each customer buys more than ₦5,000 daily while some buys as much as ₦50,000. Therefore, ₦100,000 cards will earn you ₦5x1000 = N5,000 per day which is a good gain! Hence, the gain in recharge card business starts from wholesales of N100,000.

Because of this long protocol on how people can be rich a little through Recharge card business. I bounce here with this sounds Article to put you through on how to start recharge card business in to all Nigerians at any level and make your profit according to the level you are operating on and your start up capital.

What Are The Levels Of Recharge Card Business And Their Works?

Here I have up to five (5) levels of recharge card business and each of these level or category offers profit that is proportional to the investment capacity. These are the level of Recharge card business, as follows;

1. VTU

VTU means Virtual Top Up, a technology that enables you to have direct access to the Telecom companies around the world.

Use 2secs and ask yourself these questions; Why banks now sells airtime and data everyday in all their channels?

For the five(5) years or six(6) years ago Were they into recharge card selling? 

The below section will answer those questions but for let me say “NO”.

What is VTU technology?

Like I said earlier, VTU simply means Virtual Top Up, and it can only operate by MTN users or Subscribers with a USSD Code. You don’t make money from this sector because you don’t have a VTU e-wallet account.

Short introduction to company that gives the opportunity to have personal VTU account. This VTU website will also allow you to earn huge money from the Telecom industry. VTU can be easily register and start selling your Recharge card with no hassle, you dial this USSD Code *624# on your mobile phone to register with them. For more information visit here.

2 MomoAgent.

MomoAgent is in Yellow Digital Financial Services is a subsidiary of MTN Nigeria Africa’s largest provider of communications services, and the operator of MoMo Agent service. YDFS is a financial service provider in agency banking and super-agent operation under the CBN Super-Agent framework and agent banking guidelines to provide amongst other services, agent network to serve financial institutions and Mobile Money operators in Nigeria.

What is MomoAgent About?

MomoAgent is all online transaction especially those that are planning to sell recharge card on their own without being a sales person to anyone. To register MomoAgent account you dial this USSD Code *502# to register with them. Moreover in MomoAgent, there is a launched called “PSB”

What you can do with MoMo PSB Using Your Phone?

Buy airtime & bundles: Need airtime, data and SMS bundles quickly? Buy them on MoMo, even if you’re not with MTN.

Pay your bills: Skip the queues and pay municipal bills, school fees, DSTV and more with your MoMo account.

Start saving: It’s never too late to start saving, even if you don’t have a bank account. Use MoMo to start saving money.

Collaboration: Request payments, create bills, upload invoices and collect payment from your customers.

Disbursements: Pay suppliers, employees or any groups of people with the MoMo Business bulk disbursement interface.

Simply Open PSB Wallet by dialling this USSD Code *671# to create your personal wallet. For more information about PSB click here.

3. Recharge Card Retailers.

Retailers are recharge card business persons who buys from wholesalers at cheaper price and sell to end users at the cards surface price – the price written on the card. They make average of ₦30-45 per ₦1000 denominated cards and earn total profit of ₦300 to N900 daily. So this type of recharge card business is best when combined with other business or if the retailer is in a place with high traffic and huge demand for recharge cards. N10,000 is the perfect capital for this.

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4. Recharge Card Wholesalers.

These ones buys directly from the Dealers at reduced price and sell to the retailers who in turn sells to end users. Wholesalers make average of between ₦5 per ₦100 cards and sell high quantity of cards daily. As a result, they make more profit base on much sells. Average profit they make per day is between ₦5,000 to ₦15,000.

Reasonable start up capital for wholesale is from ₦100,000. This way, your profit will be appreciable. If you are good in business and have ₦100,000 I’d recommend you start with wholesale level. Recharge card business at this level is very good and profitable with the potential to earn you N150,000 monthly.

5. Recharge Card Dealers.

These are recharge card Franchisees or merchants who buys both the cards and PINS in large quantity directly from the mobile operators. Or from another company that has direct franchise with the mobile operators. This category comes in various forms, there are dealers and there are mega dealers.

Dealers sells directly to the wholesalers who then sells to the retailers. You will requires millions of naira to enter the dealership level, starting from ₦10 millions.

Conclusion:

Recharge card business is not just an ordinary market as an occupation, but there's something inside it, so from the above mentioned levels of how you can start it depends on how much you have in your hands. My recommendation in this is if possible you can be the dealer, that is how you can tell people about your salary earned. Feel free and read Those level again and think about it, choice which is affordable to you. Let us know your thoughts in the comment section below.

Today's tutorial The Ultimate Guidelines For Recharge Card Business has been so insightful, and that it’s going to help you avoid some of the early mistakes in Business or technologically challenged. If you want us to expand on any of the points discussed here, feel free to submit your questions or suggestions in the comment section below. Don't be ignorant of our featured Posts, follow Us Facebook, WhatsApp, Twitter, Subscribe to our Newsletter For Updated Post. Kudos