Forget the myth or lies you might have heard concerning 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 of 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.
The Cost Of Starting Recharge Card Printing Business in Nigeria (2023)
To know how much to start a recharge card business in Nigeria, there are various levels as 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 ₦10 to ₦15 million if you would want to start as a mega dealer in recharge card business. Dealers make the highest profit when it comes to recharge 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 ₦200,000 to ₦600,000 to kick off. These category of sellers, sell directly to retailers but buy from dealers. They are the middle-men between the dealers and retailers.
Depending on level of patronage, you should be pocketing profit of about ₦5,000 to ₦10,000 daily. Also note that sub dealers are merchants who sell printed recharge card PIN’s to retailers after buying from tier one dealers.
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 ₦6,000 to ₦10,000.
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 have made lumps of cash from it. This make 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 and steps you would need to start off a successful recharge card business in Nigeria:
Step 1: Have A Business Plan
You must have a recharge card printing business plan as it would help you know the direction your business is going towards. In this plan, you should have an idea of the specifics of this business, the pros and cons and what it entails.
Step 2: Capital To Start Recharge Card Printing Business
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, printing machine and especially when you want to send and receive mails from dealers.
Step 3: A Computer with Internet access
Although, you might not need to own a personal computer but 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.
You should also install and anti-virus on your system as to keep your computer safe and secure from virus threat.
Step 4: Get A Printer To Print Out Recharge Card Pins
You would need the recharge card printing machine to print out the recharge card pins that you would be selling to the public.
Step 5: Get Recharge Card Printing Software
This software can be downloaded online. The recharge card business software will be used for de-encrypting the pin codes which are sent to you by the mega dealer.
Step 6: Find A Good Location To Start Your Recharge Card Business
Finding a location to begin your business is very vital. This can make or mar your business if you choose the wrong location. An advice we give is to always choose a site that is booming as it would help attract sales to your venture.
NB: You can also meet a trusted recharge card dealer to give you a device known to print vouchers and recharge cards if you cannot afford a printer or computer
How to make payment for Recharge Card PINs
Unless requested by the dealer to be done online, making payment for recharge card pins are usually paid through the bank to the dealers 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 advice 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?
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.