Recharge Card Business in Nigeria
Forget the myth or lies you might have heard concerning recharge card business. Lies like- the profit margin is too small, it is stressful, e.t.c. One thing is certain in this business- there is always a high demand of these recharge cards as you do not need to source for customers. They will come to you and therefore, you are always guaranteed sales and patronage.
To start a recharge card business in Nigeria, you either start as a dealer, a sub-dealer or a retailer. More details on each are given below
Recharge Card Dealers
You would need about N10 to N15 million if you would want to start as a dealer in recharge card business. Dealers make the highest profit when it comes to recharge card business because they deal directly with the telecommunication companies.They get recharge card pins from telecommunication companies, print in bulk and sell to the sub-dealers.
Recharge Card Sub-Dealers
To start off as a recharge card sub-dealer, you would require about N200,000 to N600,000 to kick off. These category of sellers, sell directly to retailers but buy from dealers. They are the middle-men between the dealers and retailers.
Depending on level of patronage, you should be pocketing profit of about N5,000 to N10,000 daily.
Recharge Card Retailers
These set of people are the ones we probably call recharge card sellers as they are found in streets, shops, markets e.t.c. Capital requirement for retailers is between N6,000 to N10,000.
Profit margin here is kind of low as it depends on your turnover on a daily basis. Nevertheless, profit is still guaranteed and you can do other business alongside selling recharge cards.
How to Start Recharge Card Printing Business in Nigeria
Another business idea related to selling recharge cards is Recharge card printing. Nigerians involved in this kin of business have confessed to have made lumps of cash from it. This make recharge card printing business one of the reigning business in Nigeria.
If you are interested in engaging in such , below are tools you would need to start off:
1. Capital: You do not need to be a millionaire to start printing recharge card business. You would need money to purchase pins from dealers who sell in bulk and money to subscribe to the internet, especially when you want to send and receive mails from dealers.
2. Computer with Internet access-: Although, you might not nee to own a personal computer but its preferable considering security risk of another hacking your mail to see your purchased pins. As said earlier, your computer will have the recharge card printing software and should be connected to the internet in order to print pins.
3. A Printer-: it is used to print out the recharge card pins.
NB: You can also meet a trusted recharge card dealer to give you a device known to print vouchers and recharge cards if you cannot afford a printer or computer
How to make payment for Recharge Card PINs
Unless requested by the dealer to be done online, making payment for recharge card pins are usually paid through the bank to the dealers account choice. After which you send payment details to the dealer.
The dealer will then confirm that payment has been made and would send you the purchased recharge card pins via email(s). We do advice that you start printing out about 150 recharge pins and when you have built up customer loyalty, you can increase the figures.
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