Today, I will be shearing with you all you need to know about recharge card business in Nigeria. It is true that recharge card printing business is a lucrative one, but not as people painted it. There are series of seminars going on here and there on MAKING MILLIONS IN RECHARGE CARD business every time and the radio single on the same topic is not on reduction. However, I am not saying you can’t make million printing recharge card or people are not making the millions; but it’s as easy as they claim.
Here are some facts for your personal consumption. According to NCC , Nigeria have over 130 million active GSM LINES in 2014. What does that tells you? Great opportunities right? Yes, there are great opportunities in the recharge card business. That is why you see banks selling recharge cards with their ATM now and even through their online portal. At least, if you do not trust me won’t you trust GTBank and First Bank? They both sell recharge cards! lol
Back to business, there are basically three ways by which you can venture into this business, and the all have there cons and pros. However, I think it is pertinent to talk about the level of recharge card business before we go into how to start printing recharge cards yourself.
There are basically three levels of this business; just like as we have in other businesses. We have the Dealers, the Wholesalers and the Retailers. Lets pick them one after the other!
- The Recharge Card Dealers: These are people or corporate organizations who have direct link to the telecommunication companies to buy both the card or the PIN in large quantity. There are also different levels of dealership depending on your investment or capital. Being a recharge card dealer is very capital intensive as you might be needing more that N100 million; depending on the level of dealership you are looking at. that is why we are very few people at this level.
- The Recharge Card Wholesalers: These are people with substantial amount to invest into the business. Though depending on the profit yo are looking at and your market strength. They buy from the dealers in bulk at a reduced price and then sale to the retailers at profit. This is also capital intensive depending on the level of wholesalers you are looking at. Yes of course, the more you buy the more profit you make at the level.
- The Recharge Card Retailers: These are the people that sells to the final consumers/users. These are the people you and I will probably be buying form.
Oh, did I forget anything? I thought I told you there are three ways by which you can venture into recharge card business. Right? They are:
- Printing From System After Buying Your PIN from a dealer
- Printing recharge card using POS
- Selling Recharge Card Using VTU (Virtual Top Up)
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