HOW TO BECOME A RECHARGE CARD DEALER WITHOUT PRINTING AND BUYING EPINS
No business has been hyped and over hyped as does Recharge Card Business in Nigeria in recent time due to selfishness and desire for quick gain. Contrary to Seminars and eBooks claims, Recharge card business is not a business you can start with N10,000 and becomes profitable. No, it's not possible to make reasonable gain with that amount except you are mixing it with another business as a fraction of your existing business.
If you want to start recharge card business as "Independent Business" that is, selling only recharge card on a small scale, you must start with nothing less than N100,000 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.
The profit you make per N100 recharge card is not more than N5. Therefore, for N10,000 worth of cards, you will be making N5 x 100 = N500. So, how do you expect to become a millionaire with just N10,000 recharge card that yields about N500 profit?
However, if you start the wholesale with N150,000 and sell to retailers, you are sure to sell N100,000 worth of cards everyday as long as you have good customer base. Each client buys more than N5,000 daily while some buys as much as N50,000. Therefore, N100,000 cards will earn you N5x1000 = N5,000 per day which is a good gain! Hence, the gain in recharge card business starts from wholesales of N100,000.
In this write up, I will put you through on how to start recharge card business in Nigeria at any level and make your profit according to the level you are operating and your start up capital.
Here is exactly how it works
There are three levels of recharge card business and each of these level or category offers profit that is proportional to the investment capacity.
1. 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 N5 per N100 denominated cards and earn total profit of N500 to N1,000 daily.
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.
2. 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 N5 per N100 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 N5,000 to N15,000.
Reasonable start up capital for wholesale is from N100,000. This way, your profit will be appreciable. If you are good in business and have N100,000 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.
3. 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 N10 million.
Now that you know what GSM Recharge card business in Nigeria involves, let me know your preference among these categories.
you can get a comprehensive list of retailers/dealers of recharge cards in Nigeria and my recharge card marketing ebook for just N1500.
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