The smartest way to make money in Nigeria is to start a recession business. That is to say a company whose products or services are essential and always in high demand; regardless of the state of the economy. One of these activities is printing and selling cards to replenish the balance.
Nigeria has about 80 million active mobile phone lines, which is about half of the country’s population. And the average phone user buys recharge cards every week. This, combined with the fact that telephone communication is now a daily necessity, explains why printing and selling rechargeable cards is a very profitable business.
If you want to start your own small business and fully decide which option to choose, you should consider starting to print and sell top-up cards. The start-up capital required is minimal, you don’t need any formal qualifications to get started, and you can start making a profit within days or weeks.
This business idea piques your interest ? If YES, read on to understand the basics of the business and the steps needed to get started.
How to make money selling mobile recharge cards online
What do you need to start?
Like in any other business, to start producing and selling top-up cards, you have to create something. These include:
- PC ( desktop or laptop computer )
- laser printer
- software package to reload the print card
- Reliable internet connection
- PIN codes for account replenishment ( available from retailers )
- Zeal for success
- N10,000 or more to start
How much can you earn by printing and selling a top-up card?
The business of printing and selling recharge cards is volume-based. The profit you will make each week or each month depends on the number of cards you print and sell. On each card, you can make profits ranging from N5 to N10. The more money you invest, the more cards you can print and the more money you can earn.
However, in addition to capital and production rates, there are many other factors that go into how much you can earn from a business. These include the competition, your marketing skills, and your sales ROI.
What are the options to get started?
There are three ways to break into the business of printing and selling top-up cards – as a reseller, sub-reseller or small printing business. What do these options mean? ?
Being a reseller means entering into a reseller or agency agreement with service providers. As a reseller, you will be approved for card products by service providers and will correspond directly with them. It’s the most lucrative of the three options, but you’ll need a hefty amount of money to get started – around $1 million or more.
The sub-concessionaire is not approved by the service providers and has no direct correspondence with them. Sub-dealers depend on authorized resellers to create charge card PINs, but they print and distribute charge cards in huge volumes ranging from hundreds of thousands to millions. To become a sub-dealer, you will need around N400,000.
Small-scale charging card printing involves purchasing pre-generated PINs from resellers or sub-resellers, printing them, and selling them either to refill card vendors or directly to consumers. There are two ways to print small scale top up cards, you can print them online or use a voucher printer owned by a franchise company.
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What steps are taken when printing cards to replenish the balance?
To print cards with a small amount of account replenishment, the process is quite simple and there is nothing complicated about it. Here are the next steps:
- Connect your computer to the Internet (if you don’t have a computer, you can use the cybercafé but it is strongly recommended to have your own computer ).
- Register with a company authorized to create PIN codes for charge cards.
- Download the custom corporate card printing software package and install it on your computer.
- Order the card PINs to replenish the account through the company’s website and pay the required amount for the number of PINs you ordered. After making a payment, let the company know by texting or emailing them with the details of the transaction (you can also call them for a quicker response).
- You will receive encrypted PIN codes, which can only be read and interpreted by the company’s dedicated software.
- Use your computer software to print the PIN codes.
Top-up cards are fast-selling items, so you can’t go wrong in this business. If you’re armed with the right information and aggressive marketing skills, you can become a millionaire by printing and selling top-up cards.
