Over the years we have seen telecoms make millionaires through the virtual top-up first introduced by the banks.
Today, many people refer others to virtual top-up (VTU) platforms like Recharge and get paid, recharge mobile store, and several others.
This post is not about referring others to earn but about you having your own telecoms VTU website store, where you make all the money from people who sign up on your website to top up, airtime, data and TV subscriptions.
Most Nigerians cannot do without making calls or going online or watching TV.
People buy airtime and data the way they buy food and water. A time will come when the printing of recharge cards will become obsolete and VTU will become the only way to recharge. Everyone will either recharge from their banks or from other VTU platforms. But like I said earlier, you too can be one of the VTU millionaires now.
Now let’s look at it this way.
Nigeria has a population of about 200 million out of which 184,426,187 use mobile phones 131,647,895 subscribe to data. And all of them buy airtime and data. Research shows that billions of naira were spent on airtime recharge early this year. Again, can you calculate how much you have spent on airtime and or data since you started using your mobile phone? You will be surprised at how much you spend on airtime alone.
However, I want you to know that you can be among those making the millions in the telecoms VTU industry. I’m going to give you a tip of what you can earn as a VTU business owner instead of patronizing the banks.
Let’s say you have 1000 registered members, and each of them pays a membership fee of N1000.
N1000x1000= N1, 000,000 (one million naira) for registration fee only.
Now as the admin and owner of the VTU store, if you earn up to 7% passive income. Even if your 1000 users are hungry, they must buy ₦100 worth of airtime. If they buy every day at a discounted rate of 3% if you want to make them happy. While you the dealer retains 4% per VTU. So, let’s do the maths.
Even if you offer free registration to the first set of people that register, you will still earn from all their top-ups and subscriptions
If the 1000 users are trading or buying airtime worth ₦100
N100 X 1000 members = ₦100,000 and you will be making:
₦100,000 divided by N100 (N100, 000/100= ₦100 X 4 =₦4,000) daily on airtime alone.
If they are buying ₦200 each, you will be making
= ₦8,000 daily on airtime alone.
If they are buying ₦500 Airtime each, your profit will be ₦10,000 daily on airtime alone.
In a month which is 30days, your profit will be
₦120,000/ ₦240,000 / ₦300,000 respectively.
This is Just on virtual top-up for airtime.
.Because of time I will stop here but before I end this discussion, let’s look at the statistics of people buying airtime and data in Nigeria.
As I said earlier, in February 2020 the statistics released by Nigerian Communication Commission (NCC) show that 184,426,187 Nigerians subscribe to airtime and 131,647,895 subscribed to data.
In April 2020 alone Nigerians spent about N348.75bn on airtime.
This shows that the telecoms industry is huge and you can choose to get your own VTU platform and share from the huge profit made by telecom service distributors using the virtual top-up than to patronize vendors.
For a more detailed post on how to become a telecoms dealer, visit my blog Telecoms VTU Business - How to Become a Dealer