If you are finding new ways to earn money in the country, then you should try the recharge card printing business. This venture is profitable and lucrative, no wonder many people are into it.
In Nigeria today, it is common knowledge that recharge cards have become a necessity just like the food we eat. This is because communication is vital and since the emergence of the Telecommunication giants like MTN, GLO, ETISALAT, and AIRTEL, purchasing recharge cards is essential to keep communicating via our smartphones.
Although there are other ways of recharging our phones, the best means to recharge is by purchasing a recharge card. But what if we told you that recharge card business in Nigeria has the potential of flooding money into your pockets on a daily basis if you know the technique behind it.
Forget the myth or lies you might have heard concerning the recharge card printing 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 for 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, 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 the recharge card business. Dealers make the highest profit when it comes to recharging 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.
To start off as a recharge card sub-dealer, you would require about N200,000 to N600,000 to kick off. These categories of sellers, sell directly to retailers but buy from dealers. They are the middle-men between the dealers and retailers.
Depending on the level of patronage, you should be pocketing profits of about N5,000 to N10,000 daily.
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.
The 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.
In this post, we provide a detailed guide on how can you start recharge card printing business in Nigeria and other things you need know concerning the venture.
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 kind of business have confessed to having made lumps of cash from it. This makes the recharge card printing business one of the reigning and most profitable business ideas in Nigeria.
To start your printing business, first, you would need the pin codes which will be printed on the vouchers. As earlier stated, you can get these pins from major dealers. Sometimes, the pins are sent to you through your e-mail for a reduced price. Thanks to the internet, you can now find these trusted dealers online to purchase the pins.
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 emails from dealers.
2. Computer with Internet access-: Although, you might not need to own a personal computer 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.
4. Software-: for de-encrypting the pin codes which are sent to you.
How to make payment for Recharge Card PINs
Unless requested by the dealer to be done online, making payment for recharge card pins is usually paid through the bank to the dealer’s 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 advise that you start printing out about 150 recharge pins and when you have built up customer loyalty, you can increase the figures.
Is Recharge Card Printing Business Lucrative in Nigeria?
Yes, it is profitable with many advantages. This is because, people recharge their phones on a daily basis because of the need to make calls and send messages, so they will definitely buy cards to recharge their lines. Once you have customers, then you earn very well with this business idea.