How to start data reselling business in Nigeria
Data reselling business in Nigeria is one of the cheapest and easiest businesses you can start. It costs almost nothing but a smartphone and internet connection to get started. Surely, you must have seen a lot of people who sell data at cheaper prices.
Prices that are way cheaper than what we see from the network providers themselves. With data reselling, you can make some cash everyday. This is not the kind of business you want to use to sustain yourself forever. Rather, it is a source of side income especially for Nigerian students.
So if you are thinking it will make you a millionaire, it most likely won’t unless you invest heavily. With that being said, I will introduce you to everything you need to know about data reselling business in Nigeria. How to start and how to get customers for your data reselling business.
As mentioned earlier, it is not the best way to earn a huge source of income but it can really come in handy during hard times like this.
Over the years, the rate at which data is consumed is increasingly greatly. With new innovations and upgrades in smartphones, we can say the world will never be the same again…especially in terms of data consumption.
Some years ago, when Nokia Asha and Symbian phones were a thing, we used 10mb of data for a week. These days, many of us use more than 1GB data in a day.
We can only help but wonder how the data gets used up easily. Those days, you could buy 10mb of data at N100 from Airtel and it would be enough to download some games and surf the internet for a couple of days. Today, have only 10mb left and switch on your mobile data …watch the miracle it performs.
So as a data reseller, this is one of the problems you are solving. Everybody needs data these days. We can add it to one of the basic essential needs of man. Several people make their living off the internet. Once they don’t have access to the internet, it could cause a huge loss in their businesses.
What is data reselling?
Data reselling is the act of buying data at a cheap price and selling it to your customer at a much higher price. The profit margin can be a bit low but the volume and recurring customers make it a nice investment. Always keep in mind that the main reason why people are choosing to buy from you is because yours is cheaper.
The moment your price increases above the normal price they will stop buying from you. This is why the profit margin is very low. You may earn about N50 (give or take) for every data you sell. So your aim is to be selling to as many people as you can every day. It does not take much of your time and can be done anywhere.
For example, 1GB of MTN data sells for N1000 directly from the provider and 2GB sells at N1200. However, as a reseller, you can get it at a much cheaper price. You can buy MTN 1GB as low as N350 and 2GB as low as N650. It all depends on the platform you purchase from.
Who is a data reseller?
A data reseller is an agent who sells data at a cheaper price manually or by using a third-party. As a data reseller, you can sell data through your wallet, social media, and website or create your own app. A data reseller buys bulk data at a reduced price and sells to the consumer for profit.
Requirements to start data reselling business
By the way, before we move any further in the requirements to start a data reselling business, you might be interested in learning how to start recharge card printing business in Nigeria.
Here are some of the things you need before you start data reselling business in Nigeria
- Smartphone and stable internet connection
This is paramount before you start this business. A smartphone that can surf the web and a stable internet connection is what you need. You can also use a laptop, but smartphone is easily accessible…unless you want to sell via your own website.
You must also have a running internet in your area. Connection that will be readily available when people contact you for data at any point. If your delivery is slow due to internet access, it will piss off your customers and they might not buy from you again. Customer servicing is an integral part of any business.
- Bank account
This is the account where your customers will be paying into. A working bank account is obviously very important in this business. They will be able to pay you from anywhere in Nigeria. It is also advisable to use this bank account to fund your wallet or invest in your marketing so you can keep track of earnings and expenses.
Although the capital is not a huge one but it is essential. If you want to own a website, then you need to invest a huge capital of up to N150,000. You will also need money for marketing and other things that may come your way.
If you want to start on a small scale, all you need is just a few cash to fund your wallet with. At least N3000 will be enough fou you.