How To Make Money From Recharge Card Printing Business In 2020
Recharge card business is very productive in Nigeria once you can run it effectively and have the money to fund it. As long as people will always communicate with each other, and use GSM network services, there is no fear of not getting enough patronage. Once you have the capital to start, the business can help you make good money. It all depends on how effective you can run the business. Recharge card business is not a static one, rather, it changes from time to time and you have to always be current to know the changes that are taking place.
The problem associated with the recharge card printing business is that it has become a common thing, and internet frauds are taking advantage of that to scam people in it. They claim to be real recharge card dealers, but in actual fact, they’re not, they’re just out to dupe people of their money. A lot of people fall victim of this, with the mind that they have gotten a genuine link to become a dealer in recharge card printing business. There is a great increase in the number of people claiming to have links to recharge card business in 2020. This isn’t surprising, especially with the COVID-19 pandemic that made people lose their sources of income and now sourcing for new ways to make money.
Recharge card printing business is not a get-rich quick one as most people think, but to succeed in it as a main business, you have to start with a reasonable amount of capital. Except you want to start it as a side business, then you make do with the little gain that comes from it by starting with N10,000 or less. But if you want to start the business as a major business, you should be thinking of starting with nothing less than N100,000, if you want to make reasonable profit from it. The profit margin per card is low such that you have to sell a lot of it to make any reasonable gain from the business.
How the business works
You have to start as a wholesaler, selling in bulk to retailers who do it as a side business. The profit you make for N100 recharge card is not more than N5. So, for N10,000 worth of recharge cards, you’ll be making around N500. But if you start with about N150,000 or N200,000, you can make around N5,000 to N7,000 per day which is a reasonable gain for a start. If you have a good customer base, you can make more than that per day.
There are three levels of recharge card business and each of them earns profit for you based on the investment made on them.
- Dealers: these are recharge card merchants who buy the cards and pins directly from the mobile operators or from another company who has direct link to the mobile operators in large quantity. You can either have a dealer or a mega dealer in this category. Dealers sell to wholesalers, who in turn sell to retailers, who then sell to customers. To enter this dealership level, you have to start with about N10million.
- Wholesalers: these are those who buy directly from dealers at a lesser price and sell to the retailers. They can make profit of N5 per N100 recharge cards, and they tend to sell higher quantity of cards per day. With N100,000 and a good customer base, you can start recharge card business at wholesale level. At this level, you can make about N150,000 monthly, which is not a bad idea of a business.
- Retailers: they are recharge card business people who buy from wholesalers at cheaper price and sell to customers at the price written on the cards. This level of business is best when you’re combining it with other business, probably, you have a shop selling provisions and you also have this business by the side. You can start with as low as N10,000 and you can make about N500 to N1,000 daily based on your customer base.
Recharge card printing business
There are two ways you can start printing recharge vouchers on small scale based on the company you sign up with.
- You can print it directly from the internet
With a laptop, internet access, printing software, printer and recharge card pins, you can print your cards yourself without having to go through any franchise. However, you still need to register with a company from which you’ll get the recharge pins from. You’ll send the amount of money for the number of cards you want to buy into the company’s account, and then you’ll send your name, email address, desired networks, teller number and the amount paid. They will then send you encrypted pins that can only be read and interpreted by the company’s software. You then use the software on your computer to print out the recharge pins.
- You can start printing with the voucher printing machine from a franchise company
This does not require you to do much work. Once you register with the franchise company, they’ll be the one to get the recharge pins for you, and all you have to do is print the recharge cards from your side.
Starting the business,
- Your computer has to be connected to the internet
- Register with the franchise company (you can get this from a registered wholesaler or directly from the company).
- Download their software and install it on your PC.
- Order for recharge pins through their website and pay the required amount into their account.
- Send the payment details (name, email address, desired networks, teller number and amount paid) to them.
- They’ll send your recharge pins to you.
- Then you can use the software on your computer to print out the pins as recharge cards.
There are a lot of trainings people organize for starting this business, that is to tell you that it is not a cheap business, and you have to know your way around it if you want to truly profit from it. If you don’t know the nitty-gritty of the business, it will be difficult to make money from it. You need to have the right marketing strategies to attract potential customers, and leadership skills to manage and maintain relationships with your customers.
If you truly want to make it in this business, the best way is to be a sub-dealer in it because that is where all others will come to buy from. You should try to be the supplier so you have control over your business, and not having to rely on other people to get your recharge cards from time to time. Most people think that once they can buy the cards in large quantities, then they’re good to go, but it doesn’t work that way. Like this article has highlighted above, the profit you get from cards is not that much except you go large into it. Becoming a sub-dealer in recharge card printing business makes you the go-to person for all other retailers and wholesalers in the business.
How to become a sub-dealer
- Get a list of genuine sub-dealers and connect with one of them. You will have to pay dealership fee.
- After you make payment, the current list of Nigerian recharge card dealers will be sent to the mail you provided after payment.
- Contact any of them or go to their office, which will be available with the list sent to your mail. You’ll be asked to create a business name and this will help you customize the software to your business name, such that whenever you print cards, your business name will be on them.
- You’ll be given a material to guide you on how to use the software, send recharge pins to customers on phone, and other transactions you need to do in the business.
- Then you’re set to be a sub-dealer in recharge card printing business, and you’re apparently on your way to making money.
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