Let us explore how you can make a six figure income on a monthly basis using a very simple tool peculiar to our local market



While so many people have jettisoned regular phone calls in favor of chatting, a vast majority of Nigerians still prefer to make phone calls to loved ones, especially as this is for more personalized communication.

The average tariff offered by service providers (MTN, Etisalat, Airtel and Glo) is in the range of N6.60 - N15.00 per minute, which is very unattractive to airtime usage conscious Nigerians, thus making phone calls expensive.

In the search for better call tariffs, several Nigerians have re-discovered payhone service with a difference: You can actually use the service from the comfort of your bedroom, it is at least 3 times less expensive than any call tariff currently on offer, and more importantly, anyone with N200 to N1000 can start a business selling the vouchers at up to 100% profit. What's more, it is so easy to convince new customers to try the product, as each voucher has a pin which not only gives value for calls made, but also allows for one free call in order for them to try the service.

In the next few posts, we will explore a plan with which anyone can grow a decent monthly income of N100,000 from selling of vouchers for payphone services. As it is with any business, what you earn is a function of how much time you commit to encouraging people to try the free service and then converting them to regular users, hence there is no guaranteed figure as to how much you will make.

To be continued..... www.mygsmnaira.com

In order to start the business, you simply purchase either a sheet - 20pcs x N10 (N200), or a pack - 110 pcs x N10 (N1000) of the payphone vouchers. The face value is N20 each, so you have a profit margin of 100% to play with. You may decide to sell to retailers at N15 a piece or directly to end users at N20 a piece. What this means is that for every N1000 you spend on the vouchers, you will earn up to N1000 in profit.


In the next few posts, we will work out a sales plan for quickly reaching a sales profit figure of N2,000 daily within a month.

I'll be back in a little while to show you exactly what the voucher looks like.

Like I mentioned earlier, in the next few posts, we will work out a sales plan to quickly reach a daily profit figure of N2,000 daily within one month of starting. By the second month, we should stabilize at N3,500 daily profit, as long as the steps are passionately and efficiently followed.

For now however, let us see what a voucher looks like.

As you can see, there is a very useful option of giving the first call on every single voucher for free, thus allowing new users to test the service once only, before purchase.

Following

Following please is it for all network

following, practical examples and applications needed please...

alexowoade:
Following please is it for all network

Glo - Glo & that pissed me off

You are all welcome. I will proceed to highlight how it works...

In testing the product, you - the supplier, or the retailer, will the the one to send the test text with your own phone, so that the potential client does not get to have the pin stored on his phone.

After a user has tested the product and is satisfied with it, he may proceed to buy the voucher at just N20. This will give him/her up to 10 minutes of phone call (just one call) once they follow the instruction on the voucher in placing calls.

Once the end user sends the text/whatsapp message, the payphone operator simply calls him, then calls the recipient and connects both. Since the operators are busy connecting several incoming calls, the end user may re-send his request (same request) if his call drops. With the already used time put into consideration, he will be connected again.

mercyway:
Glo - Glo & that pissed me off

You are right. The calls are for Glo to Glo at the moment because they are the only providers who have made this possible. With this in mind, two people who call themselves a lot, can get glo sims as secondary lines in order to enjoy this service.

The savings are huge when you consider that sending a message with 6 pins (from 6 vouchers) which would give an end user one hour of calls would cost such a user, a total of N120. Using regular services, one hour of calls would cost anything between N420 and N1200


The user spends N120 instead of N1200

We have considered a scenario where the end-user gets huge benefits and savings from utilizing the payphone voucher.

Let us now consider how you can actually make money from this:

Look around your area, and you will see several spots where recharge cards are sold (well, those who have survived the banks' takeover), as well as so many provision stores: These are your first customers in trying to penetrate the market in your area.

Simply approach them courteously, convince them by demonstrating a test connection (note that operators may keep your request in queue for a few minutes based on volume of calls they are handling at any point in time), then get them to buy just a sheet of vouchers to start. A sheet has 20 vouchers with a face value of N400. You may sell to your retailers at N300, which means you have just made N100 profit from your N200 purchase.

Remember to paste a simple flier in the retailer's shop to encourage his customers to test your product.

In the next 24 hours, I will upload a sample flier which you can improve upon to promote your business

Now I have shown how you can make N100 profit by supplying just one sheet to one retailer in your area.

It simply means as a new business, you can make N1000 profit if you supply 10 such shops in your area daily. What's more, they do not need to buy on credit as the cost is so small, so you are making your cash immediately.

The first step you need to take is to move these retailers from non-sellers of your product to intermittent sellers, then to regular sellers and finally advocates.

You may be lucky to even move some straight from non-sellers to advocates.

In reality, once these retailers get just a few customers, they can each take up as much as five sheets of your vouchers daily. That is a profit of N500 x 10 retailers = N5000 daily, but we will take things gradually.

The first step to take is to locate an area where end users for your vouchers abound.

Tertiary institutions, busy areas, and even secondary schools (day schools) are a viable market for these products.


In my next post, we will start the business immediately by purchasing products, uploading the sample fliers, and hitting the streets. This will provide a practical guide to start the business

So, I'm about to make a purchase for distribution. Firstly, I'll login my account, then proceed to make the order, after which I will make payment.

I scroll down a bit, select the quantity I'd like to buy, and hit the "buy now" button

I then make payment with my ATM card, wait a few hours for the payment to clear, and check my email for the product which has been sent to me.

This is then printed out as hard copies to be distributed to my retailers.

To help my retailers introduce the product more effectively into the market, as simple poster helps do the trick.

The goal is to engage as many re-sellers as possible and get to a stage where I can sell 30 sheets of voucher daily, so I start small by engaging various shops, barbing salons, recharge card sellers, and pasting my fliers on their premises after convincing them by utilizing the free call facility. Many people want to test the free calls in order to get convinced.

Selling 30 sheets daily (when I get there) will give a profit of N100 per sheet, which is N3000 profit daily, and N90,000 per month. This is a modest goal, and I hope the hard work pays off, so I can achieve this within 2 months maximum

You will usually get a soft copy of the flier with your order from mygsmnaira, for you to print out.

I'll give more updates tomorrow

I ought to have given this update on Friday: I sent out two of my "boys" to get us new re-sellers for this product. They got 4 new re-sellers who agreed to pay cash and stock the product. Two of these have started test-running the vouchers for their own customers.

While this is a far cry from the 30 customers we need to develop in a month, we will resume scouting for new ones on Tuesday, at the rate of 10 new re-sellers per day. Even if we get just 3 per day, it means we will be able to develop those 30 customers in the first month.

This is the only way to make the business a going concern. You can do same for yours.

Don't delay; get started today!!