Recharge Card Business in Nigeria: How To Start & Cost (2024)
In reality, over a hundred million Nigerians have access to mobile smart phones. And at a certain point, every one of those people has had to buy recharge cards to call. We should point out that some of these people have many lines on their phones. This means that selling recharge cards is a highly profitable business enterprise in the country.
Recharge card printing is a good and lucrative business opportunity. Have you always considered who creates the recharge cards we use? They are people just like you who saw an opportunity and took advantage of it. We’ll show you how to get into the recharge card printing industry in this post. Let’s begin with the business’s initial investment.
COST OF STARTING RECHARGE CARD BUSINESS IN NIGERIA (2024)
How much would it take to start up a business printing recharge cards in Nigeria?
The capital required is one of the factors to consider before beginning a business. The amount of investment required to establish a business will determine whether or not you can do it. This leads to the question of “how much does it cost to start a recharge card printing business in Nigeria?”
The solution to this question is a little more complicated. To begin, we must divide this industry into its several levels. The level at which you begin will affect how much money you’ll need to get started.
The three levels of recharge card business and their starting expenses are listed below:
- Mega-dealers fall in the range of ₦10 million to ₦15 million
- Wholesalers cost fall in the range of ₦150,000 to ₦250,000
- Retailers fall in the range of ₦10,000 to ₦20,000
We’ve done a great job estimating how much you’ll need for each level. This will help you know which one will fit your budget. Moreover, let’s take a closer look at the levels now.
The mega dealers are the biggest fish in town, as their name implies. They seem to be the most renowned in the sector therefore they are recognised all across the country. You’ll need a lot of money to run this firm at this level.
These people buy E-pins in enormous quantities from various communications firms. They, in turn, sell the pins to wholesalers at their own set prices. To become a mega dealer, you must go through multiple levels of verification with telecom firms. However, after you’ve established yourself, you’ll make the most money in the sector.
The next step in the recharge card printing industry’s supply chain is wholesalers. They buy e-pins from giant dealers and resell them to stores. They usually buy the pins at a discount and then sell them at a discount to the stores.
Even if it isn’t as lucrative as the mega dealer level, the wholesale level is still very profitable. For each ₦100 recharge card you sell, you can earn roughly ₦5. This implies that if you sell 10,000 recharge cards for ₦500, you should make ₦500. Given how frequently individuals buy recharge cards, you’re likely to make multiples of this amount every day.
Before the ultimate consumers, retailers are the last link in the supply chain. They buy e-pins at a discount from wholesalers and resale them to the ultimate consumer.
This is the greatest way to get started in this business if you have a limited budget. With persistence, you can operate on your business and build into a wholesaler and mega dealer from this one. You should aim for regions with substantial people traffic when launching a recharge card business at this level.
Selling recharge cards can earn you anything from ₦1,000 to ₦5,000 every day. This is reasonable, given that you only need a little amount of money to get started. You can also print your recharge cards at this level, just in case you forgot. In the next part, we’ll show you how.
HOW TO PRINT RECHARGE CARDS IN NIGERIA
“Can I print recharge cards in Nigeria?” you may be thinking. Yes, and if you have the necessary knowledge, you can do it from the comfort of your own home. The good news is that you don’t need any prior experience to get started in this industry. It should not be a problem if you are not a computer whiz.
WHAT YOU NEED TO PRINT RECHARGE CARDS IN NIGERIA
A lot of interested entrepreneurs might be asking what they need to print recharge cards in Nigeria. To clear the air, here’s a list to get you started:
- Have a computer (laptop or desktop)
- Stable internet connection
- A3/A4 valid email address
- Recharge card printing machine
- Software to decrypt the pin codes
- A good startup capital.
Let’s have a look at how you may print your recharge cards now. Keep in mind that you’re printing e-pins. The telecoms firms sell these pins to the big dealers, as previously stated. A major dealer or a wholesaler are both good places to get your pins.
Then you’ll need Netdivo, which is a piece of software. This program allows you to decrypt the e-pins you receive via email after making a purchase from a dealer. The program then assists you in re-formatting the pins for printing. It is through this procedure that the recharge cards that you are familiar with are created.
Only a token of ₦9,500 is required to activate Netdivo. You will get access to all of the app’s functions after you have paid this money.
You will receive the following after paying this amount:
- The Netdivo software package in its entirety.
- Sample e-pin file for training and testing.
- Contact information for the best e-pin dealers in Nigeria for every telecom service.
You should practice using this software as much as possible at this stage. This will assist you in comprehending the app’s functionality.
Here’s a quick rundown of what you’ll need to print recharge cards:
- Download and pay for the software on your PC.
- Make sure you have a strong internet connection.
- Make a payment and order e-pin codes from a merchant.
- Using the Netdivo, decrypt the pins.
- Recharge cards should be printed and sold.
If you’re looking for a business to start at the comfort of your house, then try recharge card business. This is a lucrative business that many entrepreneurs has earn a lot through it. As key takeaways for you, try to locate your recharge card printing business in a good location that will make you sell the most of it.