How to Start Recharge Card Printing Business Fast!
Are you looking to start a business but are completely lost as to which type of business to venture into? During this duration of economic uncertainty, starting a business might seem like a risky venture. However, there are still some businesses ...
Are you looking to start a business but are completely lost as to which type of business to venture into? During this duration of economic uncertainty, starting a business might seem like a risky venture. However, there are still some businesses that can do well during this time and one such business is a recharge card printing business.
With minimal startup costs and no professional requirements necessary, you can easily set up your recharge card printing business within no time and start earning money within a few days. If this sounds like a business that interests you, follow through to figure out what the business is all about and how you can get started on it.
Levels in a Recharge Card Printing Business
There are several levels to this business; anyone can join in at any level provided that they have what is required of them. The main difference with the levels is mostly the required startup capital with the higher levels demanding more money than the lower levels.
The various levels include;
Level 1 distributor
This is the highest-ranking level of a dealer; they are in direct partnership with service providers. The service providers avail the recharge card PINs to them for printing and distribution. To be a level one distributor, you need to have a good sum of money to set up the business. Returns tend to be highest for people at this level of the supply chain.
The sub-dealer acts as a middleman to the distributor and the retailers. Sub dealers are mostly merchants who receive the recharge cards from the distributors then sell them to retailers.
Small scale Dealer
Businesses at this level are responsible for printing recharge cards and they get their PINs from the level 1 distributors. From this, the next level is the recharge card retailer who sells the recharge cards directly to the customers. These retailers hardly make any significant profits from selling recharge cards. Therefore, if you are looking to grow a profitable venture, the small scale dealer category should be where you draw your line.
Since the small-scale dealer is our particular area of interest in this article, we are going to dig deeper to find out how to get started on this business.
Equipment required to get you started
Starting a recharge card printing business requires you to have some necessities, they include;
Dealer: this is the person/company who is going to provide you with recharge cards PINs.
Capital: This is a basic requirement for most businesses. Capital required here will be used to purchase PINs, a laptop, a printer, printing papers, purchasing software and any other requirement.
A laptop/desktop with internet access: this will be used to design the recharge cards as well as store them and print them when ready. It will also be used as a means to help you communicate with dealers via email.
Software: it is used to help interpret the PIN codes sent by the dealers. Codes are usually not sent in readable formats; this helps to prevent them from being hacked. Also, you need to ensure your computer has an antivirus to help prevent you from internet hackers.
Printer: preferably a LaserJet printer to help you with printing the recharge cards. Alternatively, if you are a little short on cash to afford a printer, you can outsource these services locally at a small fee.
Printing papers: to print the cards.
How to Print Recharge Cards
There are three main ways in which you can print recharge cards. They include;
Online printing: you get the PINs from the dealers then you send them directly to your clients
Point-of-sale machine printing: you print recharge cards on-demand from a POS machine
Software: this is whereby you get the PIN from your dealer then print them and supply them to vendors
Business Management Strategy
A recharge card printing business is one that is in demand; thanks to the growing number of mobile phone users and the fact that mobile communication is an everyday need. On average, a mobile phone user recharges their phone at least once every day therefore, it is no doubt that recharge cards are products that are high in demand.
Regardless, there are several steps you have to take to ensure the growth of your business as well as to strengthen your market share;
Build your Customer Base
For businesses, the game lies in the numbers. How many customers does your business have? How much does each client bring in?
When running a recharge card printing business, your major clients generally consist of sub-dealers, shop owners as well as vendors. You need to carry out market research within your area of operation to help you determine your target market. Once you have identified them, you then need to approach each of them pitching your services and asking them to partner with you.
Finally, you will need to come up with a complete list of your signed clients along with their contact information, location as well as their requested number of recharge card orders.
Foster good relationships
While conducting business, ensure that you create a good rapport with your clients; customer satisfaction is an essential aspect of a business.
Recharge cards are a basic necessity in everyday life since people use mobile phones as their means of communication. This business is volume-based, that is, how much you can make daily, weekly and monthly largely depends on how many recharge cards you can print and sell. However, there are other factors that can determine your profit margins such as your competitors and your marketing skills.
All in all, a recharge card printing business is a very profitable business venture. Therefore, if you had your doubts, I hope this clears it all up for you. Do not wait any more, start your business and start seeing returns on your investment within no time