HOW WE MADE N5M FROM RECHARGE CARDS WITHIN 6 MONTHS

Recharge cards sales are very lucrative with aggressive marketing.

A young start-up company came to my office some months ago with a business proposal on mass distribution of GSM recharge cards. The plan was to monopolize card sales using local distribution channels and employing about 10 young school leavers to run the distribution network every morning.

The marketing structure was built on reliance, efficiency and nobility for GSM phone booths operators. We realized that they spend money on transportation to get their Cards; nobody gives them bonus allowance and credit facilities to help uplift their businesses. We were the answer to the innate needs of these phone booth operators. First we took a survey of the number of phone booths operators in our host city. I discovered that there are over 700 phone booth operators in our host city.

After taking the survey, we employed ten young school leavers and bought them bicycles and registered a company to float the distribution. They took our cards to the door steps of almost every Phone boot operator in our city. Now they don’t move an inch to get their cards and also we gave them credit facilities to help grow their business. We were distributing over 3,500 cards daily initially. We appointed each person to cover 50 booths daily and all 10 person covers over 500 every morning. We gave them company labeled T-Shirts and custom packs to deliver our cards. Within 2 months we where recruiting more distributors and our daily card sales rose to over 10,000 units.

The model worked so well that my partners intend extending the chain to other cities. We are currently looking for indigenes from different Nigerian cities. If you are interested please contact me. I am also interest in seeing more investor take over their cities distributing GSM Cards this way. The market for Cards is so huge and very lucrative. The first to take the initiative is always the king in this business.

Many, after seeing their card sales slumping, stole into the idea but then we have already won over the market. You too can start a small time distribution now or join our marketing team to implement one in your city.

I was indeed glad I listened and financed Tim and Oludewa business proposal.

pls post your reply to this thread on this forum, No emails pls. I can only answer your question on this forum. Thanks!

I'm sure you can de-activate the pin-numbers if lost or stolen. This will prevent miscreants from robbing those that distribute the cards.

We never thought of that. Our boys that distributed our cards are permanent worker with the company. We have not had problems with cards being stolen. Maybe I will them to find out how they could deactivate cards just in case there is a reason in the future to do so,

Thanks for your suggestion. Complement of the season

hi damandasuite, i think d idea is marvellous,i would like to run this in benin,i am quite sure it will work.pls tell me how to go about it,esp as regards the financing

Hello Amoxy,

I am glad you intend taking this strategy to building your way to stable millions. I think you can start with as little as possible.

I am also glad that you are very close to major wholesale card depot - Benin. Benin has a lot of GSM Cards wholesale shop like Aboma. Obtaining your cards maybe weekly or daily will be very easy.

Lets build a small scale card distribution network for you. Assuming you have N50,000 you intend investing daily on the distribution of GSM cards and you intend covering just about 30 booths close to your area daily. What you will need to do is start your distribution as early as 8.00a.m, circulating your cards to every booth on your list. Once you are through with the circulation daily, take records of the cash balance in your sales account and take again your N50K to reload your stock of cards by buying another set of cards for the next day.

If you circulate N50,000 worth of cards daily, in no time you will discover that your account over a period of 12months will be over a N1,000,000. That is if you invest both profit and new capital regularly whenever you go to purchase new cards. For convenience and speedy growth, get young people to join your marketing team.

For funds; start with whatever you can get your hands on. Start now!

ur bizz sounds very fantastic. but is it just as simple as u made it look. u mean u didnt face any dificulties or isnt facing any at the moment. u make it look like its quite simple which i hope it is. i might consider going into this is i get reassurance.

If it has no risk and challenges, then it’s not a business. If you don’t want any risk on your investment, kindly leave it in the bank. You will be lucky to get an interest of about 8% yearly. 

@damadsuite,

I am interested in this kind of venture. Cud u pls drop me a line on this forum. I will like
to discuss with u further, since I hv a few questions to ask you for guidance. i will like also to hv your mobile line.

looking forward to hearing from you soon.

Regards,

ntuedor

hi,damandsuite,thanks a lot for ur info, but i still need some clarificatons,can i have ur email or fone no.u can reach me on mojkem16@yahoo.com

wow! i love creative ideas. a frnd of mine had exactly this same idea but wasnt articulate in his explanation, so he didnt make it sound interesting like u just did. but i rem'ber he said he only needed to make just N10 profit on each card. Can u tell us hw much u make on a recharge card and what price do u make ur purchase per card?

damadsuite:

please post your reply to this thread on this forum, No emails please. I can only answer your question on this forum. Thanks!

Pally i'm interested in this recharge card business. Can i start with lets say N20k?? I'm in kaduna. Please let me hear your response.

A lot of questions i need to answer,

Firstly, I will want to say there is no business that don't carry some level of risk. Recharge Card sales carries minimal risk because they are easily liquidatable and are not perishable. The only fear here is delay in sales if your marketing structure is poor. The entire business is hinged on marketing with a finer touch.

Secondly, You can start with the little you have. Somebody asked if he can start with N20K. You can start with N20k and build it gradually as you grow and get more use to the marketing strategy.

Concerning how much you can get a card and what profit margin to expect, this depends on where you get your cards from. We gets ours directly from GLO, MTN, CELTEL offices in bulk. You can get yours from sub distributors. I will find out what is the cost for a roll of GLO, MTN, CELTEL cards.

Anybody with an idea about the cost of wholesale cards can place a thread here to assist most interested friends. I think it is quite easy to start as you may not be directly moving around the place distributing these cards. It is better you play the Exec Role by getting young school leavers to distribute while you keep planning. I like it that way.


,
Building a business is more than just money.

Thnks a lot Damatsuite, i use to think that dealing with MTN, Glo & Celtel directly is capital intensive. can u kindly confirm the cost implications of dealing directly with the telecom companies, and how cheap can one get cards from them compared to subdealers? i only hv roughly N200k presently. thanks.

@damadsuite this is really inspiring. I once made an effort toward becoming a GLO subdealer but got knocked out by their requirements. Thanks for sharing your success story with us here. This is yet another tap on the head I'd received  in three weeks.

MTN, GLO and even CELTEL are very controversial sometimes when it comes to obtaining dealership opportunity with them. I have been able to position my company in such a way that with our corporate statistics, most very difficult conglomerate gives us partnership and dealership opportunities easily. I deal directly with the topmost executives and sometimes beat bureaucracy through political influence.

I am happy that many are taking the bold step in investing on real stuffs that work. I have always love low risk business and can't stand losing money. As a forward thinking Nigeria, I believe any business worth doing should be able to hit the million naira mark early. What a business really needs is innovative intelligence not money to get to the Milllion naira mark.

I think a lot of Nigerians are very creative when it comes to business development but capital has always been a problem in this country. The business model I posted below was not my idea but someone else that needed financing from my company. I am glad to share more of these small & medium scale business ideas that really works in this forum. I have a trailer load of them in my drawers. Patented anyway!

I have financed more than 7 of these class of business within the past 6 years. I will be putting up a new thread soon on a very reliable and creative way you can raise fund with the little you have. I mean with just about 20K you can build a small passive income business of your own and invest the proceed yearly on Nigeria leading stock Index. I mean really passive income monthly as you face other important issues in your life. I am a little busy in the office now. I will post it by noon.

pls how hv u been dealing wit the problem of returned invalid vouchers, if any.

i just want you to clarify some of these issues concerning your post. what is the percentage of profit you make from the sale of one card? according to some of the call centre operaters - a huge number of them, in lagos, make N50 on each card.
what are the products sold to you by the commuincation companies, my guess is that it wont be much different when compared to the rate given to other thousands of retailers, there's normally a fixed percantage for sale to the distributors, so a good persuasion skill wont really be helpful here.
Do you only sell to phone booths (they're the ones i refer to above). Sellers in some shops and supermarkets sells at the advertised price (often). My point is that you're right about starting this kind of enterprise with little capital; you're however wrong in the information concerning the percentage of profit, which in my view is very low. It more profitabel for these retailers to operate the call centres and not the sale of vouchers alone.

mr damadsiute,thanks for the info,but how can i get intouch wt the executives of these operators,opeyemihadex@yahoo.com,08057032010 i will like to hav urs,thanks

Hey
I am writting u from the U.S. will be in Nigeria in may i will like to meet with u, i have some money i want to invest ok write me back if u get this my e-mail is hakeemolageshin@yahoo.com pls write me back.

please, this goes to damadsuite, how many businesses are u into?
you posted something about returns for forex;
please everyone check this link out https://www.nairaland.com/nigeria/topic-33966.0.html
are u for real, is your web site for real,
fellow nairalanders let's seriously consider this
is this guy to be trusted?

Damadsuite statement for any comer to deal directly with MTN,GLO,OR CELTEL is misleading,You cant if your re not their Principal dealer,But they will refer you to deal with these Principal dealers, on matter of recharge card,or voucher for a better bargain.

For the benefit of all Nairalanders who re in lagos, find below the list of eligible MTN Principal dealers.

LAGOS DEALER PRINCIPAL OUTLET LIST

NO DEALER CODE NAME OF COMPANY LAGOS
Lagos
1 001 AFINBO NIGERIA LIMITED Plot 859 Bishop Aboyade Cole, Victoria Island


Lagos
2 0027 NETCELL LIMITED Suite 4, Lafayette Mall, Plot 1436, SanusiFafunwa, Victoria Island, Lagos

Lagos
3 0005 EIL TELECOM LIMITED 7c Oduduwa way, GRA, Ikeja


Lagos
4 0006 EMATES 3RD Avenue K Close, House 1, Festac town


Lagos
5 0018 KPS LIMITED 1, Abiola Segun Ajayi Street, Off Etim Inyang CresentVictoria Island, Lagos
61 Isheri Road, Ogba

Lagos
6 0010 GSM TECHNOLOGIES 224 Etim Inyang Crescent, Victoria Island


Lagos
7 0031 REYOMS Plot 1398B, Tiamiyu Savage Street, Victoria Island

Lagos
8 0012 HOLE 19 32 Musa Yardua Street, off Idowu Martins, V/Island


Lagos
9 0015 INTERCOMM 311 Wharf Road, Brosette Compound, Apapa


Lagos
10 0016 IWT - PHONEXPRESS 31 Saka Tinubu Street, Victoria Island


Lagos
11 0019 LEGACY CONSULTS LIMITED NICON Building 118/120 Broad Street First Floor, Lagos



Lagos
12 0020 LINKLINE NIGERIA LTD Suite 28 Tafawa Balewa Comple Race Course, Onikan

Lagos
13 0021 LOBATEX 17 Adeola Odeku Street, Victoria Island, Lagos

Lagos
14 0023 MOBILE SYSTEMS LIMITED 64 Awolowo Road, Ikoyi, Lagos



Lagos
15 0025 NEET NIG LTD 43 Akin Adesola Street, Victoria Island, Lagos

Lagos
16 0026 NERO COMMUNICATIONS A14/15 Ikota Shopping Complex, Victoria Garden City, Lekki




Lagos
17 0032 ROYAL STRIDE TELECOMS GROUP 57 Allen Avenue, Ikeja, Lagos


Lagos
18 0033 RTB TELECOM 18 Fatai Atere Way, Matori


Lagos
19 '0034 SIEMENS LIMITED 98/100 Oshodi-Apapa Expressway, Isolo


Lagos
20 0036 SMARTCELL (NEXT) 7 Aerodrome Road, Apapa

Lagos
21 0038 SPEAKEEZEE CELLULAR & 92 Awolowo Way, SW Ikoyi, Lagos
PAGING SYSTEMS

Lagos
22 0039 TELFIELD NIGERIA LIMITED Nikky Africana Plaza 70C Allen Avenue,Ikeja



Lagos
23 0042 VISTAR 2A Osborne Road, Foreshore Towers, 9th Floor, Ikoyi,
Lagos


Lagos
24 0044 WPC - MOBILE PHONE WAREHOUSE 3 Imam Augusto Close, Off Olasa Street, Victoria Island, Lagos


Lagos
25 0056 WAVETECH PHONEHOUSE 110 Awolowo Road, Ikoyi


Lagos
26 0013 HYCON MILLENIUM SERVICES Hycon Suite, 1st Floor Lapal House,


Lagos
27 0004 CHUCKCORP Superior Motors Building, 39 Alhaji Tokan SAlaka Estate, Western Avenue, Surulere, Lagos

Lagos
28 0059 PHONELINKS 118 Bode Thomas street, Surulere


Lagos
29 0041 TELIPOINT - ANDCHRISTIE 48 Raymond Njoku Street, Ikoyi, Lagos


Lagos
30 0014 IDEAL INFOSYSTEMS 2 Wharf Road, Apapa, Lagos


Lagos
31 0045 ZERO NINE ZERO 32 Ezekiel Street,Off Toyin Street, Ikeja


Lagos
32 0007 REDSTAR EXPRESS 12 Rasmon Street, Off Osolo Way, Ajao Estate, Isolo
Apapa

Lagos
33 0062 CYBASE LIMITED 23 Fatai Atere Way, Matori, Mushin



34 Lagos SIMBA TELECOM 61 Awolowo Road, Ikoyi
0008


35 Lagos THE PHONESHOP LIMITED 33 Adetokunbo Ademola Street, Victoria Island
0077


36 Lagos FLOWELL SERVICES LIMITED 1 Motorways Avenue, Alausa Ikeja
0065


37 Lagos MYLOID TELECOMMUNICATION LTD 37 Saka Tinubu Street, Victoria Island
0024


38 Lagos SKYNET TELECOMMUNICATION LIMITED Suite 28 RodeoMall, 148 Obafemi Awolowo Way, Ikeja
0035


39 Lagos OFFICE MAX Century 21 Mall, Mega Plaza, 14B Idowu Martins Street, V/I
0067


40 Lagos MURHI INTERNATIONAL NIGERIA LIMITED Plot 45 Omole Industrial Layout, Ogba
0082


41 Lagos DELTATEL COMMUNICATIONS LIMITED 27 Sanusi Fafunwa Street, Victoria Island
0084



42 Lagos MACAW INTERNATIONAL 27-29 Adeyemo Alakija Street (Top Floor) Victoria Island
0090


43 Lagos BRILLIANT TELECOMMUNICATION LIMITED 2/4 Abebe Village Road, Iganmu Surulere
0085

44 Lagos
0088 CONTACT INTERNATIONAL COMMUNICATION 9 Calcutta Crescent Apapa


45 Lagos
0087 FALUMS LIMITED 25/27 Ogudu Road, Ojota



46 Lagos IYKE COLLINS INVT LTD Prince's court 37 Ahmed Onibudo Street, Victoria Island


47 Lagos
0093 BTN NIGERIA LIMITED 23 Festival Road, Victoria Island


63 Opebi Road, Ikeja
48 Lagos GLAMOUR C & I LIMITED Alade Market Obafemi Awolowo Road, Ikeja
Ibara Roundabout, Abeokuta
Ring Road, Ibadan


49 Lagos OFFICE DEVICES LIMITED 117 Allen Avenue, Ikeja
0103


50 Lagos 21st CENTURY TECHNOLOGIES 249A Muri Okunola Street Victoria Island



51 Lagos SKIVAM LIMITED 79 Adeniran Ogunsanya street, Surulere



52 Lagos WATCHERS TELECOMMUNICATION LIMITED Edo House, Plot 1225 Bishop Oluwole Street, 1st Floor, Suite 016, Victoria Island
0106


53 Lagos F & F GROUP LIMITED 37 Marina Street, Lagos



54 Lagos AFRITECH MOBILE NIGERIA LIMITED 12 Idowu Lane, Off Kodesho Lane, Ikeja



55 Lagos B-LINE COMMUNICATION LIMITED 4 Osolo Way Ajao Estate, Isolo



56 Lagos WORLDCOM LIMITED Coscharis Palza, 68A Adeola Odeku Street, Victoria Island



57 Lagos H.ZEIN ENTERPRISES NIGERIA LIMITED 19 Calcutta Crescent, Apapa



58 Lagos MICROTECH ONLINE SERVICES LTD 13th Floor 50/52 Broad Street, Lagos



59 Lagos MULTI-PRO ENTERPRISES LIMITED (PANABIZ) 11 Osborne Road, Ikoyi



60 Lagos DAMATEX OVERSEAS INDUSTRY LIMITED 30/31 Otigba Street, Ikeja



61 Lagos ROBACEL LIMITED 127 Isolo Road, Mushin



62 Lagos ELECTRO-TECH COMMUNICATION LIMITED 29 Norman Williams Street, Ikoyi



63 Lagos NETWORK INDUSTRIES LIMITED Suite 235 Block A2/5 Sura Business Complex Simpson Street, Lagos



64 Lagos ALMAS TEXTILE LIMITED Plot 4 Apapa Oshodi Express Way, Isolo



65 Lagos MBAPEE AFRICAN TRADING COMPANY LIMITED Omoyiwola House 8 Ladipo Adeyemi Street, Anthony Village Ground Floor, Anthony



66 Lagos ASNET INDUSTRIES LIMITED 22 Oteomi Street Palm Avenue, Mushin



67 Lagos DAMIAN NIGERIA LIMITED 33 Issa Williams Street Off Broad Street, Lagos



68 Lagos BILAF INVESTMENT LIMITED Plot 2003Amuwo Odofin GRA Festac Link Bridge, Festac



69 Lagos BCJ LINKS NIGERIA LIMITED 79 Adeniyi Jones Avenue, Ikeja



70 Lagos ABA INTERNATIONAL LIMITED 27 Igbosere Road, Lagos



71 Lagos CAPITAL Q LIMITED Angywin - Napex 3 Walter Carrington Street, Victoria Island



72 Lagos CASH 'N' CARRY NIGERIA LIMITED 51 Marina Kingsway Building, Lagos



73 Lagos LARRY COMFAB ENT LIMITED Km 10 Badagry Exp. Way, Agboju Lagos



74 Lagos SKYVIEW-O NIGERIA LIMITED 2nd Floor Bookshop 50-52 Broad Street, Lagos



75 Lagos PLANET ONE (FOX GLOVE) Suite B12 Adeniran Ogunsanya Shopping Complex, Surulere



76 Lagos CHOFFAN COMMUNICATION LIMITED 228 Muri Okunola Street, Victoria Island



78 Lagos STAR NETWORK TELECOMMUNICATION 21b Akin Adesola Street, Victoria Island



79 Lagos ORANGE TELECOMMS 7 Saka Tinubu Street, Victoria Island



80 Lagos REGALIA NIGERIA LIMITED 10th Floor Foreshore Towers 2A Osborne Road, Ikoyi



81 Lagos FIRST PLANET COMMUNICATIONS 19 Adeola Hopewell, Victoria Island



82 Lagos BELL & BELL 1 Oremeji Street, Ilupeju Estate, Anthony



83 Lagos MOBILE ONE LIMITED Plot 70 Okoya Thomas Street, Victoria Island
3004


84 Lagos HARAN RESOURCES LIMITED Plot 1439 Sanusi Fafunwa Street, Victoria Island
3048


85 Lagos CYBERPLANET LIMITED 27, Adeleke Street, Off Allen Avenue/Tinuade Street, Ikeja



86 Lagos SKYPLUS TRAVEL & TOURS LIMITED 18 Carter Street, Ebute Metta



87 Lagos BARCUTT INVESTMENT LIMITED 91/93 Obafemi Awolowo Road, Opp Savannah Bank, Ikeja



88 Lagos

Qs to answer:

1. 8Oracle: Thanks for your post. This is what I think we all can do to help ourselves. I am most constrained to give certain information that you requested as regard profit margin and how I deal with MTN directly. I know majority of us can't really have the kind of credentials or finanace to become a principal dealer or subdealers but still, we can capitalise on the average 3-7% daily return on sales of these recharge cards. Thanks 8Oracle once again for your extensive list of subdealers in Lagos. It is a great work and mighty relief to many in Lagos State.


2. nospetco: You asked, how many business am I into. My answer is simple; any business that is truly worth doing. See nospetco, I am not your average Nigerian. I write about 12 computer programming languages and track market data daily worldwide. I am a professional web master and market software developer and the chairman of several companies. I built my first business while I was just 16year. I started working online 1993 and that is way back. I am a professional Forex trader. I have being trading Forex way back 1999 from Cape Town S.A. I have developed more than 7 mechanical trading systems for Investment companies around S.A. I also trade National and International Stocks unemotionally. Please it is not an issue of taking anybody seriously but looking closely at investment data and prospect. If you have common sense, you can judge any prospect from a more creative perspective irrespective of the source of publication. How many reports or books that have blessed you, you knew the authors? The point is simple, If I buy a N100 MTN Recharge card at N90/card and sell at N95 to phone booths operators, that will give a 5% return. Do your calculations and you will get the point. Note, it is not the unit naira value profit but the percentage return on ones investment that is more important to market data analyst. You shouldn't say there is no profit because you got only N30 from a N750 recharge card, this a 4% return on investment.

damadsuite: Thanks for that compliment, whenever i crashed into Lagos,am gonna buy u a cuppa of coffee and buttered toasted chips at Silverbird Galleria.

What re nairaland folks for! Other than watch my back, and find a shoulder to lean on

The post many have been asking me for is out at last. I have been able to write up sometime with the best of my presentation power. Sorry i couldn't find a way to shorten the write up but please bear it. I think it is worth the length.
It is my contribution to nairaland and Nigeria young income seekers

You can view the post at:

https://www.nairaland.com/nigeria/topic-35438.0.html

Happy reading. Please I will be more than glad to assist with more details.

i saw ur reply to nospetco, is that your website about the returns on deposits made with u for real?
am an interested prospective investor, i have managed to save 1000000 Naira, i want to invest with u.
i went to the website, but am not really clear on, can i choose what i want to invest on, or are te returns fixed?
if i pay in the money, how do i submit the form, i am based in Lagos. how i do get my returns.
please reply

Re: How We Made N5m From Recharge Cards Within 6 Months
« #18 on: 09 January 2007, 10:46:23 »

--------------------------------------------------------------------------------
mr damadsiute,thanks for the info,but how can i get intouch wt the executives of these operators,opeyemihadex@yahoo.com,08057032010 i will like to hav urs,thanks

Angiehilto: Yes the returns you saw are right. I think they are ok. The forms are online and can be downloaded from our website. You are required to download the forms and complete it with a black ink pen, scan and send it to us as an attachment through this email address: damadsuite@gmail.com

Please send your email address to me so that I can forward to you a more elaborate information about our investment opportunities. The link to our corporate website is http://www.nationalgoldex.com/HG_INVESTMENT_PROGRAM.htm

@damadsuite, Gone to your link, nothin much you explained therein in the one page website, Though your website contains your corporate address which is good but can not be identified online.
Can you state your company's corporate affairs commission registration number?
Your membership of Nigeria Security Exchange Commission number?.
Security Exchange Commission license Number to act as a financial advisor to the capital market.What you and we are talking of here is MONEY,EGO KUDI,OWO, DOLLARS AND POUNDS.

If you dont provide any of these request i will shout out to all nairaland to find there escape.

My financial advisor had 3 of these authenticity to carry on business as a capital market operator.

@damadsuite

please i object to the use of language "if you had common sense", are u trying to say i am daft? as 8oracle pointed out, this is money we are talking and not small money, we need to confirm the authencity of the investment vehicle before we pool our hard earned sweat into it, please refrain from such annoying statement in future.

we all have a thing or two to learn from one another!!!!!

please to all nairalanders, anyone who resides in delta should help us check out this organisation.

who are the directors of this enterprise, the website is silent on the people team and if it is a one man show let' sknow who's involved, maybe a write up or lil history of the team members.

thanks

nospetco! am weather beaten and street wise business person, i can smell scams a mile away even if i drop dead.Where he dont provide those information,(Comment Reserved) But Watch Your Back Brother, Watch Your Back. This Is Year 2007.

that is why i like nairaland people, it is full of intelligent and wise people. i wonder why we cannot be of help to ourselves, it is so annoying when all what we think about is to scam our fellow human being, this get rich quick cannot lead us anywhere, we are not the only human being in this world, we are not the only people that like money but the way we go about it is so alarming, we scam white, red, blue and even scam our own people, time will tell o.