Are you into recharge card selling business? Or do you intend starting the business? Did you know you can now do this business digitally? In this post, I shall be sharing with you a comprehensive guide on how you can go about it using VTU. But first let us go into the basic that is what VTU business is about in Nigeria.
What is the VTU business all about?
Firstly, VTU simply means Virtual Top Up. It involves recharging airtime and data on your phone digitally through an online platform.
As you credit your phone, you get returns for every recharge.
Now in VTU business, you sell airtime or data to people through online means and they pay you.
How profitable is the VTU business?
It has been reported that Nigerians nationwide spend about 260 billion naira on airtime every month. You too can tap from this and make huge amount of money on a daily, weekly or monthly basis.
Have you ever credited your phone using your bank account? You probably have. VTU business has always been the business that banks have been into for years which gives them the leverage to earn huge amount of money through airtime purchases made by customers through their bank accounts. Imagine how many millions of people also recharge through their banks since the method is faster and has solved the problem of owing debt if you have no cash at hand.
Your profit per sale in this business looks pretty small let's say N5 but hey, the idea for every business just as Mr. Samuel of Nextnaijaentrepreneur would say is if want to make 10 million from a product that is sold for N10 then you sell it to 1 million people.
Hmm, not easy right? But you have to start somewhere and before you know it, you too can be making huge profit just like Quickteller.
You make N5 for each N100 worth of airtime you sell that is 5% commission on each recharge. The bigger the investment, the bigger the returns. Only your close family members and friends consume lots of airtime and data almost everyday talk more of the outside world.
How to start VTU business in Nigeria
Starting VTU business does not require huge capital and does not also require any form of educational qualification or status. With as low as a thousand naira, you are in business depending on the VTU platform you choose.
Requirements for VTU business
To start VTU business in Nigeria you should make provision for:
- Smartphone or personal computer
- Internet connection
- Online platform for marketing and advertising. You can create a website or use social media profiles
- Savings or current account
- Business brand name and logo
With these requirements, you are ready to commence VTU business. You do not necessarily need an actual location for VTU business but you can make provision for that if you want customers to locate or contact you in person.
Registration of VTU business name is important but not entirely necessary if you just want to manage the business on the low.
Choose a VTU vending platform
This is the main thing in starting a VTU business. There are many VTU platforms in Nigeria that offers cool commissions with relatively cheap registration fee but for the sake of this post, I shall be sharing information on only two platforms which I think are the best and they are:
1. Recharge and Get paid VTU platform
2. Using Jumia one app for VTU business
Recharge and get paid VTU program
Recharge and get paid is an online business program for virtual top up owned by recharge and get paid limited. The company is registered with the corporate affairs commission (CAC) and has been licensed by the Nigerian communication commission (NCC). They offer various virtual top up such as sales of airtime, cable subscription (like DSTV, Gotv, Startimes), payment of PHCN bills etc.When you register, you get paid 20% of your registration fee. The business also operates with down lines that is registering people under you. You get 20% of your direct down liner’s registration fee and as they invite others into the business, your commission then ranges from 10–1%.
The company pays you 2% of every airtime you purchase and 0.35% from purchases made by down line as well as 10% when you buy data from them and 1% from down line whether direct or indirect down lines. For cable subscriptions and payment of PHCN bills, you get N40 and N10from down lines.
Registration fee costs
Basic - N5000 for 20 points and you earn to your 5th generation.
Bronze – N10000 for 40 points and you earn to your 6th generation.
Silver – N20000 for 80 points and you earn to your 7th generation.
Gold – N30000 for 120 points and you earn to your 8th generation.
Diamond – N40000 for 160 points and you earn to your 9th generation.
Platinum– N50000 for 200 points and you earn to your 10th generation.
Executive Platinum – N60000 for 400 points and you earn to your 10th generation as well.
Incentives:
Any month your point values reach 10000, the company pays you N100000 at the end of that month. Any day you earn up to 25000 points, you are qualified for an all expense paid trip to Dubai pr get N500000 if you choose not to go. For 60000 points, you get a car and 2million naira. For 100000 and 250000 points, you get a house fund of 3million and 4million naira respectively. Now when it gets to 500000 points, you earn your last incentive of 6million naira.
You can upgrade whenever you want, you will not be charged for full payment again since your package will be removed from it.
Getting downlines is not easy. You can start from your friends and family members, social media forums and advertise to different people regularly.
click here to join.
Using Jumia One app for VTU business
This method is just simply and straight forward. You must first register at jumia.com.ng and download the one app at one.jumia.com.ng.
After downloading,
Step 1: Login the details you made use of during the registration on jumia.
Step 2: select any of the services provided in this case we would go with airtime.
Step 3: choose network operator.
Step 4: type in recipient phone number and amount of airtime.
Step 5: select proceed to pay then continue to pay
Step 6: type your email address and click next. Then click pay now.
Step 7: you will receive a one-time password (OTP) via email. Type the password in the box provided and click submit
Jumia gives 5% commission on each recharge although it sometimes depends on the amount of airtime you buy. So when you buy N100 airtime, you only pay N95.
Wrapping up: Starting VTU Business in Nigeria using Recharge and Get paid program or Jumia one app
VTU business is a very profitable business to invest in and make money even at the comfort of your home. You can search on Google for other VTU platforms in Nigeria.
Do not forget to share this post to others or type your questions on the comment section below.
