Like you, many people are looking for ways of starting a recharge card printing business in Nigeria. Today, we shall be walking you step-by-step on how to start recharge card printing business with or without software.
The tutorial will be divided into two parts:
One part will explain how you can begin recharge card using software, and
The second part will teach you how you can start without using a software, Okay?
So, it doesn’t matter if you live in Lagos, Port-Harcourt, Ibadan, Abuja, or any other state, the information contained in this post will help you start a successful recharge card printing business.
Below are some of the requirements to start this business and its uses.
Quick Requirements
- A Computer Or Laptop – We recommend getting one for your business, but your personal laptop too can do the work.
- Printer – The printer is used to print the recharge codes.
- Papers(A4 is highly recommended) – This is what will be used in printing the recharge card pins/vouchers from a printer.
- Recharge Card Printing Software (not needed if you don’t want to use it, we share a method later in this article that can work without software)– Although not necessary, there are some recharge card printing or software that will be installed on your computer and is used to decrypt the encrypted E-Pin sent to your email so that you can print it out.
- E-Pins(Airtel, Glo, Mtn & Airtel) – These are all the recharge card pins that you earn money from once you print and make sales. They can be gotten from various E-pin dealers nationwide (will be discussed later in this post)
- Internet – This is not a must but you will need a hotspot, Mifi, or modem if you’re buying the E-pins online because these pins will be sent to your email address and you need an internet connection to check it.
You will use the internet to access all website for printing recharge card.
- USB Flash Drive – This can be used to store the pins you copied from your email so you can print from a printer. A memory card with a USB card reader can also be used in this case.
- Capital (Money) – Perhaps, the most important part is MONEY. You know it is Very, very necessary… Lol.
The guide we’re sharing on this blog on starting a recharge card printing business 2021 will not work if you don’t have money to kickstart it.
Now, you know all that you need to begin, let me share my experience with you.
Table of Contents
My Personal Experience on Recharge Card Printing Business Idea
6 years ago, my friend told me about setting up a card printing business in Nigeria. I didn’t even think it was a profitable investment with low-risk. I tried to discourage her and advised her to pursue an online business instead.
However, being stubborn, she laid down her plans, showed me the feasibility study, and told me she had 100k to start the business. Months later, I realized it was really worth it.
Well, fast-forward to now and I’m happy she didn’t heed my advice. She has become successful in the recharge card line of business, and has even expanded it. I will reveal a few things she did in this article.
But, is it still relevant now? In the age of internet banking and mobile banking?
Why start a recharge printing business in 2021
While many youths use the bank to credit airtime into their phones, the charges they suffer from is much. This is why many still prefer loading recharge cards.
In 2020, however, the population of Nigeria has grown to over 206 million according to United Nations data. That is roughly 2.7% of the world’s population with over 160 million active subscribers to telcos in Nigeria.
Imagine only 2% of that population still used recharge card, but in reality more than 50% still use recharge card papers to load their phone. Can you imagine how much you will make with less than 1% of Nigeria’s population buying from you?
The demand is still high. A business is only unprofitable if there is low demand for it. But this isn’t the case for the recharge card business. The demand clearly outweighs the supply.
How to Start Recharge Card Printing Business in Nigeria using Software
Yes, you will need recharge PINs to begin recharge card printing business in Naija. So, you have to consult a tier-one distributor or dealer. There are some legit recharge card dealers from where you can buy from. Need our recommendation? Contact us (we can point you to some for a small fee).
To start recharge card printing business in Nigeria, here are what you need;
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Capital
Money is the engine in which the world is powered. Like any business, you will have to have capital to successfully make money from recharge card printing.
The capital will be used to buy the software, recharge PINs, printer and several other things you will need.
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A Desktop or Laptop Computer
Next, you will need a computer/laptop to access, store, decrypt, and print recharge PINs. It has to be connected to the internet too.
This will allow you to access your mails or any other channel used to talk with the dealer.
Ensure you have antivirus and other security tools that stops hackers from getting access to your recharge PINs.
You can use your phone in order to avoid using a laptop or computer but that is more riskier (especially if you give it to people).
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Internet Connection
Ensure your device is connected to the internet so that you can access your email address through which the dealer will send you recharge card PINs.
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Software
A software is required to decrypt the recharge card PINs. Generally, recharge card PINs are not sent to you in a usable form.
So, you will need a software to decode or interpret the encrypted codes sent to you by the dealer.
Lastly, if you are unable to acquire a printer and computer, you can also partner with a frachise company to provide you with a device known as voucher printing machine.
This device too, can be used to print recharge PINs.
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A Printer
The importance of a printer in recharge card printing business cannot be overemphasized.
Before we teach you how to make money from the recharge card printing business, let’s break down the cost of starting one
The Cost of Starting a Recharge Card Printing Business
There are levels through which you can enter in this recharge card business. The higher the level, the more capital is required and the bigger the income.
Check out the different levels and stick to one that falls within the range of your available capital.
No matter the level you want to start from, we’ve got you covered.
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Tier-One Recharge Card Distributor (Mega Dealer)
| Capital Requirement | ₦6 million-₦12 million |
| Risk level | high |
| Profit margin | Very high |
| Time consumption | high |
A recharge card level one distributor has direct contact, access, and arrangement with service providers.
To begin a recharge card business as a dealer in Nigeria, you will need at least ₦6 million. I know, that is quite expensive, right?
However, remember, the higher the risk, the higher the reward.
This holds true for the recharge card distributors in Nigeria because they make the lion-share of profit when it comes to making money from recharge card business.
They are the top-dog of the industry since they talk directly with the service providers. The telecommunication companies provide them with recharge card PINs and they print it in bulk then sell to the sub-dealers.
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Recharge Card Sub-Dealer
| Capital Requirement | ₦500,000-₦12 million |
| Risk level | moderate |
| Profit margin | high |
| Time consumption | moderate |
A sub-dealer is a person that has an arrangement with the tier-one distributor.
If you decide to enter the recharge card business as a sub-dealer, you would need around ₦500,000 to ₦1 million as capital.
This level of recharge card business includes merchants who sell printed PINs to retailers. They play the role of middlemen between the distributors and retailers.
At this level, one can potentially earn between ₦15,000 to ₦30,000, which is roughly ₦450,000 profit per month.
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Small Scale Recharge Card Dealer
| Capital Requirement | ₦100,000-₦300,000 |
| Risk level | low |
| Profit margin | moderate |
| Time consumption | moderate |
You can still make good money by starting at this level.
There are two ways you can start printing recharge PINs as small-scale recharge card dealer depending on the company you sign up with;
- Internet method
- Voucher printing machine
Under the internet method you’d need the following;
A desktop or laptop computer;
Internet access;
A software; and
A printer.
A summary of how to enter the recharge card business at this level is given above.
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Recharge Card Retailer
| Capital Requirement | ₦10,000-₦50,000 |
| Risk level | Very low |
| Profit margin | low |
| Time consumption | high |
A recharge card retailer is a person that sells recharge cards directly to the final consumers. They can be seen on the road’s sides, shops, caravans, offices, hawking the streets, etc. This is a cheap recharge card printing business style.
The profit margin for this level is really low. But, put in more money plus effort and watch it grow exponentially.
How to Become a Successful Recharge Card Dealer [A Feasibility Study on Recharge Card Business]
Having capital isn’t only enough to run this business. What happens when you invest and don’t know how to sell?
Although the demand for recharge cards is ever increasing in the country, a lot of retailers already have a place to purchase recharge card vouchers. How then can you penetrate the market, successfully?
You should already have a market penetration strategies or techniques in place. By doing so, you are able to attract potential customers and manage existing ones.
Don’t have one? We have created it in the next heading. Continue reading to learn more.
Market Penetration Strategy for Recharge Card Printing Business
At this junction, I’ll share with you secrets on how you can make at least ₦150,000 monthly from this recharge card business.
The following tips will teach you how to make money with recharge card business in Nigeria:
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Build a Database of Customers
Your customers may include home vendors, students, phone boots, shop owners, or hawkers. It is crucial for you to maintain a record of your customer base. That way you can always reach out and resell them the service over and over again.
You could use a book (using details like name, phone number, date of last airtime bought, amount, expected date of re-buy etc).
For example, if one customer purchases fifty vouchers of ₦100 recharge cards. This means that he buys 50 × ₦100 recharge card, which is equal to ₦5,000 turnover for one customer.
And say for instance you have fifty customers with the same buying capacity. That then translates to 50 x ₦5,000. This gives us a total of ₦250,000 turnover. With a 10% profit margin, you would make ₦25,000 income.
The best part is that you can even make this figure in a day, a week or in 30 days depending on the size of your customer base.
Like I previously stated, the game is in the numbers.
If you seriously follow the tips and tricks shared here alongside implementing them in real life then you should be able to make that income and more within 24 hours.
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Create a Customers Form
As earlier stated, this form will contain the contact details of recharge card detailers in your area.
You may need to visit them one after the other creating awareness that you are a recharge card dealer and would love their patronage.
You should be friendly and might even go with gifts (sweets, or a bucket).
If I were you, I would offer them discounts or any benefits to attract them. Then give them a form to fill, where they can input their names, phone numbers, and location of their shop.
Also, don’t forget to give them your contact details too. Branding is an essential part of building a successful business. You could even give them your contact card.
Keep the friendliness to a moderate level. Remember, over-familiarization is bad for business.
Don’t be afraid to smile.
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Create and Maintain Good Relationship with Your Customers
To save cost, you can use bulk SMS platforms to send messages to your customers.
Being close enough to your customers will go a long way in helping you earn their trust. That rust my friend will earn you more money than you imagine.
Sending them messages shows they are appreciated and special. Who doesn’t like that?
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What Kind of Messages Can You Send?
You can send them the following messages:
Happy birthday
Welcome messages
Thanking them and informing them of new stock of recharge cards
Holiday greetings
Motivational messages
Prayers
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Why Should You Send Messages to Your Customers?
Never underestimate the power of building a good relationship with your customers.
Nigerians are largely religious people and appreciate well wishes and prayers.
Send it to them once in while and they’ll trust you more than before.
- How Often Should You Send Messages?
However, you should be careful when sending messages. The frequency should be moderate, at most once every month to wish them a successful week.
Nevertheless, you can send them messages every new month.
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Security
This is Nigeria – I need not say more.
Ensure you pay the money received that day to the bank on the same day. Don’t wait until the end of the day to do so.
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Credit Sales
Although selling on credit is not always recommended. You might sometime offer it to long-time customers and customers that have given reasons beyond reasonable doubt that they are reliable.
Plus, if you ever decide to do so, there should be a credit limit and periodic limit.
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Offer Aftersales Services
Your customers should not always have to travel to your shop.
If your customers are plenty in a particular area, you can offer to bring the vouchers to them. That would set you at a higher level than your competitors.
Encourage them to inform you when they about to run out of stock. Everyone loves convenience.
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Having an Office in a Busy Area
The advantage of having an office in a metropolis cannot be overemphasised. You may have more competitors but you would also have a larger target market.
How to Make Payment for Recharge Card Pins
In most cases, you’ll make payment to the dealer’s bank account. But, in some rare cases, the dealer might request for online payment or ask you which is most convenient for you.
Whichever the case may be, you would need to send the dealer payment details after successful completion of the payment so they confirm receiving the payment.
After confirmation, the dealer would then send the recharge card PIN to your email address. You can start with 200 recharge card PIN and then expand your business as customers increase.
That said, before venturing into the business, you should contact some retailers to inform them that you want to start printing recharge card PINs so that there would be a ready market for you.
How to Print Recharge Card Without Software?
You can use your phone:
Simply recharge people’s phone using Quick teller App
Enter their number and input the amount
Then they pay you the naira equivalent with extra.
That’s it!
Frequently Asked Question
Is recharge card printing business profitable?
Yes, recharge card printing business is very profitable in Nigeria. It is a lucrative business with high demand.
How Much Is Recharge Card Software?
It can cost anywhere from N10,000-15,000,000
At times, mega dealers provide the software free of charge to their customers.
Cost of Setting Up A Voucher Printing Business in Nigeria:
The cost of starting a voucher printing business in Nigeria costs anywhere from N100,000-N120,0000 (This is a small-scale costing).
Fairly used laptop: N40,000
A4 paper (for printing): N1,500
Printer: N15,000
Refill printer turner cartridge: N1,200
Cost of ePins for a start: N15,000
Small Generator: N30,000
NOTE: One-time refill alone can print more than 30,000 pins
As your business grows, you can buy a better generator in case of poor power supply.
How Much Can I Make From Printing Recharge Cards?
You can make anywhere from N10,000-20,000,000 printing mobile recharge cards in Nigeria.
If for instance, you buy GLO from your mega dealer for N92-N93, you will make at least N7 on a voucher.
If you sell in bulk, you may sell it for them at N96. That means you will be gaining a profit of N4 per voucher. If the retailer buys 200 pieces of Glo voucher, then your profit is N800
If you have a big market and able to sell double of that, that N1600.
The truth is that Nigerians use recharge cards a lot, you can be making N4,000 on glo alone in a day (depending on your market and location).
For MTN, it’s most expensive than GLO directly from the telecom company:
For instance, MTN was N95 at the time of this guide, which means you make less profit selling MTN than Glo (if you sold the same quantity).
What is the List of Recharge Card Printing Companies?
Some recharge card printing companies include:
- Glo
- Mtn
- Airtel
How To Be A Recharge Card Dealer In Nigeria
Below are some of the requirements to start this business and its uses.
Quick Requirements
- A Computer Or Laptop – We recommend getting one for your business, but your personal laptop too can do the work.
- Printer – The printer is used to print the recharge codes.
- Papers(A4 is highly recommended) – This is what will be used in printing the recharge card pins/vouchers from a printer.
- Recharge Card Printing Software (not needed if you don’t want to use it, we share a method later in this article that can work without software)– Although not necessary, there are some recharge card printing or software that will be installed on your computer and is used to decrypt the encrypted E-Pin sent to your email so that you can print it out.
- E-Pins(Airtel, Glo, Mtn & Airtel) – These are all the recharge card pins that you earn money from once you print and make sales. They can be gotten from various E-pin dealers nationwide (will be discussed later in this post)
- Internet – This is not a must but you will need a hotspot, Mifi, or modem if you’re buying the E-pins online because these pins will be sent to your email address and you need an internet connection to check it.
You will use the internet to access all website for printing recharge card.
- USB Flash Drive – This can be used to store the pins you copied from your email so you can print from a printer. A memory card with a USB card reader can also be used in this case.
- Capital (Money) – Perhaps, the most important part is MONEY. You know it is Very, very necessary… Lol.
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