Not all businesses are for everybody but there are some businesses that may not give you an instant large gain amount. Recharge card business is one of those businesses.
A recharge card is a telephone card that users can use to add money to their calling account. Recharge cards are and will always be needed by people to get in touch with people, send texts and subscribe to the internet.
Much like any other business you need a capital. You also need to know what category of the business you would want to venture into.
Now, there are basically three categories in the business namely:
- Recharge card retail
- Recharge card wholesale
- Recharge card dealing
Recharge Card Retail is done by recharge card retailers who purchase recharge cards from wholesalers at a cheaper amount and sell directly to end users. On an average retailers can earn about N5 from every N100 recharge card.
Recharge Card Wholesale is done by recharge card wholesalers who buy in bulk and sell to retailers. They make between N3 to N5 on each card. Their earnings are better when they sell in large volumes.
Recharge Card Dealing is done by recharge card dealers who have direct access to the telekom operators such as MTN, GLO, Airtel and Etisalat and buy directly from them to sell to retailers.
The good thing about the recharge card business is you can pick the category you want to venture into according to your budget. With as low as N10,000 you can be a retailer but you would need more to become a wholesaler and a whole lot more to become a dealer.
The best part about the recharge card business is this; Instead of saving in the bank and earning almost nothing on your savings, you can invest a part of those savings into one of these categories and compared to saving and gaining interest little by little you will be saving in the business because recharge cards sell very well as it is always needed. Even when it takes time to get sold, you know that you have the exact value of your money in cards and unlike perishable products recharge cards do not get spoilt with time.