How to start a recharge card business in Nigeria,
Recharge card is now a common thing that we all consume every day because we have to communicate with our friends, colleagues and family members and since the need to buy recharge cards for our phones will never go out of style, starting a recharge card business in Nigeria that will constantly put money in your pocket every day will be a smart choice for the budding entrepreneur.
The recharge card business in Nigeria is very lucrative as long as you have the capital to begin on the level you wish to start from. There are, as it pertains to most businesses, three level of recharge card marketing in Nigeria.
The Main dealers;
These people deal directly with the main communication corporations and get their recharge pins from them and in turn sell these cards to the middlemen, called sub-dealers.
To be a dealer, you need at least ten million naira to start and for a sub-dealer, you need at least two hundred thousand naira to start.
Then the last type of recharge card dealer is the retailer.
These people are the ones you see on the road that you buy from directly. To start at this particular level you need at least five thousand naira.
The profits for these three types of dealers vary significantly. The profit potential for the main dealers is really high because of the amount of capital invested in the business while the sub-dealers also profit well but not as much as the dealers.
Mainly there would always be significant profits from the business as long as you are one of these two.
The retailers also make profits but not as much as the dealers and the sub-dealers. Your profits in this category depend on the number of recharge cards you sell.
Look at it this way, you will always make profits from the recharge card business and if you are the retailer you will also make profits but that will depend on the number of days people come to you.
If it takes two weeks for people to finish your batch of recharge cards and you make two thousand naira profit, it means you made two thousand naira in two weeks which is a small amount of money to make in two weeks.
So the main thing is that once you begin to sell your recharge card, let people know that you are selling recharge cards now so that they can purchase their cards from you and your batch can finish quickly.
If you finish a two thousand naira profit batch in one day, that’s sixty thousand naira in a month and seven hundred and twenty thousand in a year.
Now imagine you have ten dealers in ten different states in Nigeria, that’s seven million naira in one year. It’s all about marketing and that’s why you need to know how to market your products effectively in Nigeria.