Recharge card selling business is one of the cheapest business to start in Nigeria. Sure, business of selling recharge cards is a good venture to do as it can be quite lucrative and profitable.
If a person is patient and devoted to the business especially when starting small, it is a business that can leave you smiling at the end of the day.
This is a business that came into existence fully with the introduction of mobile phones into the economy of Nigeria as well as the setting up of various mobile phone services in the country.
This led to a business boom in the telecommunications sector of the economy leading to various jobs and businesses springing up in the sector with selling recharge cards becoming one of such businesses.
The great thing of this business is that it can be started in various ways and methods which include the following:
Ways to do Recharge Card Selling Business
For those who do not have much money to start the business, they can begin which the easiest and simplest method.
This involves starting at the retail end of the business and selling directly to the consumers. When starting the business this way you purchase the cards from wholesalers and go on to sell to the consumers making a bit of profit.
The second method involves becoming a wholesaler which involves you buying in bulk from dealers and selling to retailers who in turn will sell to the final consumers. At this stage you are more likely to make more money and profit as the level of investment is high and profit margin is higher than what the retailers get.
The third stage involves you purchasing directly from the network providers and operators. At this stage, a lot of investment is done and made which means a lot of returns on your investment.
Dealing with the networks directly means you are major supplier of the cards as you are now a dealer and you sell to wholesalers. The amount of investment to be made is huge at this stage of the business when directly dealing with the networks.
For this article we shall focus and lay emphasis on the first stage which involves being a retailer as it is considered cheaper and easier to handle especially for those who do not have enough money to do it on a large scale.
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With this method you can gradually grow the business with a lot of patience as well as dedication to making it work.
The major reason why the business is a good one to do is because of the high demand for the product which is needed by everyone.
Nigerians generally love to talk and for this reason purchase a lot of cards to make these calls making the business boom for those involved in it.
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Requirements to Start Recharge Card Selling Business
As stated earlier this is a business that can be started from home if you do not have enough money to set up outside your home, but it would be better if you can start in a place where a lot of activities are taking place.
If where you live is in a busy area with lot of activities going on and taking place then you are good to go and can start with the little you have, but on the other hand if you stay in a place where business activities are at a low ebb you will have to consider moving the business after some time to a good location.
Now this does not require a major investment, what you will need to consider is the expenses you will have to take care of in terms of the transportation and how far your business location is from your home.
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So it is important while trying to find a good place, you get some where that is very close to your home to minimize the amount you spend on transport.
Get a location that is busy all the time with a lot of commercial activities taking place. The reason why this is important is that with your business being in a busy place you have more chances of making more sales as this is a business that you can make money based on the amount of turnover you can make in selling the cards.
The gain per card sold is not much but when sold in multiples can yield good money and profit within a short period. You should remember you are starting small so do not expect to make mega money and profits but you will make enough to maintain the business and keep you going.
Also remember the other two stages that were mentioned earlier this is where more money and profits can be made, so consider this stage as a means of making some as you grow the business to eventually reach the higher stages.
Since you are starting small you may not be able to rent a shop as this will take a lot of money. Instead of a shop you can get a small table and chair and stay in a place where a lot of activities takes place when doing this remember not to violate any traffic or road laws so as not to be punished by the law enforcement agencies.
This is a business if properly planned can grow in a short time and while waiting to get to the bigger stages of selling recharge cards, you can still make good money and profits even if you start small, you just need to patient and dedicated and you and the business will do very well.
Ensure you do a feasibility study and when doing the business, be nice and polite to your customers to keep them coming back.Buy and Sell Bitcoin in Nigeria - Register for free on Luno
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