10 Steps On How To Start A Vtu Business In Nigeria. VTU Business guarantees huge profit but it requires well-proven strategies to make reasonable profit.
Strategies that will help you get a good share of the multi-millions of profit carted away by banks and other big organizations on a daily basis.
To be frank, N500 or N1,000 Investment in this profitable business will not get you any where. You will simply be labouring for others with very little to show for it after several months of labour.
Providing a Dynamic Website and Branded Android Mobile App are some of the strategies we deploy for our Resellers to make it big in “VTU Business in Nigeria”
Do you want to start up a VTU business? You do not have a problem looking for information as we have brought the right information to you on all you need to know about VTU business as well as steps on how to start up.
Table Of Contents
- 1 What is a VTU business?
- 2 Is VTU business lucrative?
- 3 Who are the key players of VTU business in Nigeria?
- 4 What is the competition like in the VTU business market?
- 5 What are the steps I need to take when starting a VTU business?
- 6 What are the benefits of VTU Business?
- 7 How can i register on the platform?
- 8 What are the steps in starting a vtu business?
- 8.0.1 1. MAKE UP YOUR MIND
- 8.0.2 2. LEARN THE SKILL
- 8.0.3 3. CONDUCT A FEASIBILITY STUDY
- 8.0.4 4. DRAW A BUSINESS PLAN
- 8.0.5 5. MAKE A PLAN FOR ADVERTISING
- 8.0.6 6. DISCOVER A LOCATION
- 8.0.7 7. SEARCH FOR CAPITAL FOR YOUR INTENDED BUSINESS
- 8.0.8 8. PURCHASE A GOOD SHOWCASE
- 8.0.9 9. MAKE A WEBSITE
- 8.0.10 10. TAKE ACTION
- 8.1 Steps To Start A VTU Business In Nigeria Using Jumia One App
- 8.2 How to go about it
- 8.3 How to Earn 45% interest in 30 days
What is a VTU business?
VTU is simply virtual top up. This is a kind of business which one acts as a seller and top up or recharge customers with airtime once they pay irrespective of the network.
It is now old fashioned to recharge through scratch cards and pin numbers. VTU is done with the aid of crediting digitally. In simple terms, VTU is simply a digital way of selling airtime to customers.
It is important to know that you do not need so much capital when starting up this business.
Is VTU business lucrative?
VTU business is very lucrative but the issue is that the amount of profit you would make depends on the capital you put in the business. This means that if you put in very little capital, you will also get very little profit as well as if you put in very huge capital, you would get very huge profit.
Who are the key players of VTU business in Nigeria?
Some of the key players of VTU business in Nigeria are:
- Recharge and get paid
- Apple tree Nigeria Limited
- Stratford communications limited
- KPS limited
- Seltec investments limited
- Ringo telecommunications limited
- Clickatell Nigeria limited
- Fidelity union securities limited
- MCTee investment Nigeria limited
- Real time communications limited
- Commercial banks
- Telecommunication companies such as mtn, glo, 9mobile etc.
What is the competition like in the VTU business market?
There is great competition of this business in the country as there are well over 100 VTU merchants in the country.
What are the steps I need to take when starting a VTU business?
Whenever we need to start a business, there are certain steps that must be taken to predict the success of the business and VTU business is not any different.
What are the benefits of VTU Business?
- You don’t need to convey paper recharge or recharge cards so it encourages you diminish untidy Paper work and mistakes.
- VTU business is a portable revive card business and you don’t generally need to be at a physical area to do maintain your business
- You procure 3-4% commission on broadcast appointment deals
- You are not constrained to just broadcast appointment recharge; different bills payable incorporate GoTV, Startimes, and DSTV. Furthermore, you can procure in any event N100 gave you charge your customers this sum as the exchange expense
- You can likewise gain from selling WAEC result checker pins at your own cost
- You will have the option to exchange MTN information packs
How can i register on the platform?
Get your telephone (s) and register on the VTU organization’s site to make a record on their web stage.
Load cash on your phone(s) with the goal that you can utilize the cash to distribute all systems (MTN, Airtel, Glo, Etisalat). You can begin with 10000 on each system. You can utilize any sort of telephone to distribute broadcast appointment credit yet the telephone must have the option to associate with the web.
What are the steps in starting a vtu business?
- Make up your mind
- Learn the skill
- Conduct a feasibility study
- Draw a business plan
- Make plan for advertising
- Discover a location
- Search for capital for your intended business
- Purchase a good showcase
- Make a website
- Take action
1. MAKE UP YOUR MIND
Before anyone starts any business, it is important that one makes up one’s mind properly so as to avoid regrets. Once you have made up your mind on doing this business then you can proceed to the next.
2. LEARN THE SKILL
You might see it as though there is no skill to learn but there is, you must learn how to be able to top people airtime without making mistakes. This can be very easy to do while you are even in your comfort zone. You can do this through the use of the Internet.
3. CONDUCT A FEASIBILITY STUDY
In as much as you might see it as an easy business to start up, you still need to conduct a feasibility study on the business to know if it’s economically viable or not. For instance, you customers might need to be re educated as most of them may still be using old fashioned recharge card. You need to know if the business would be successful or not.
4. DRAW A BUSINESS PLAN
After conducting a feasibility study, the next thing to do is to draw a business plan which must be written down. It must include the goals and objective of the business.
5. MAKE A PLAN FOR ADVERTISING
Every person wants his or her business to grow and this can be achieved through advertisement. Since VTU is a digital way of recharging a person with airtime, why not stick to digital advertisement? This can be done through the use of social media platforms. Radical advertising is advised because of the rate of competition in this business currently.
6. DISCOVER A LOCATION
It is significant that individuals can find you when they have to stack broadcast appointment or take care of tabs. A standout amongst other shop areas is a bustling area with a ton of pedestrian activity. These incorporate business regions, areas close to various organizations, school grounds and swarmed squares.
7. SEARCH FOR CAPITAL FOR YOUR INTENDED BUSINESS
Your startup capital is very negligible. You can begin with as meager as N5000. You will utilize this cash for the notice and business set up. On the off chance that you don’t have a cell phone, you will likewise require additional money to buy a decent telephone that can be utilized for your exchange. You can likewise get a PC which is an extraordinary gadget for making your business productive.
8. PURCHASE A GOOD SHOWCASE
This is the place you will put all the vital data about your business. It is smarter to get a metal one since it is increasingly strong and will last more.
9. MAKE A WEBSITE
You can make your business a stride higher by having a site or a committed web based life stage where you promote your items
10. TAKE ACTION
Now that you have gone through all of these and they have been successful, what are you waiting for? You are ready for business. Take action!
Step 1: Get registered on Jumia if you have not done so. Jumia is a multi-purpose e-commerce site you’ll have to be registered on to utilize the Jumia one platform. You can register here (www.jumia.com.ng)
Step 2: Download the JumiaOne App into your mobile device (https://one.jumia.com.ng)
Step 3: Login on the Jumia one app with the details you registered on jumia (Remember you just created an account on Jumia)
Step 4: select the service you want to use, which is buying airtime credit in this case. You can use this same platform to do other top ups like dstv subscription, Electricity bills and lots more.
Step 5: when you have completed the above steps, follow this simple guide to carry out top ups.
How to go about it
- Open your JumiaOne App and select the AIRTIME option.
- Select the service provider (telecom) in Nigeria (MTN, AIRTEL, GLO or 9mobile) you want to top up with.
- Enter your Customer’s Phone Number, and the Amount of airtime credit he/she wishes to recharge their lines with (e.g 100)
- From this page, a confirmation page will be brought so a to be sure your request is exactly what you want to do.
- On this step you will need to add your ATM Card details, and run a final check on your order, to be really sure it’s fully correct. Once you’re done crosschecking, click on the PAY NOW Button and you will be taken to an OTP page.
- Enter your OTP (One Time Password), a set of numbers you will receive from your bank via email or SMS to confirm the transaction was made by you.
- Once this is done, you will then receive an SMS that confirms your transaction, and your client on the other hand will also be credited the amount you input.
- Depending on the amount you top up, you can get 3% – 5% of that same amount every time you make a recharge for a client. This can fetch you a good stream of cash and you’ll surely be smiling back from the bank.
How to Earn 45% interest in 30 days
As a VTU Reseller on Mobile Airtime NG`, you get at least 3% DISCOUNT on your airtime purchase.
So, let’s say you only sell just a VTU per in two day, this means you get 3% in 2 days (how can a vendor sell one airtime daily? this is really a worst case! Airtime recharge is bought daily).
So, using even the worst case above, you get 3% X 15 days = 45% in 30days!
Which other LEGITIMATE business in Nigeria can bring such high Return Over Investment (ROI) of 45% interest in 30 days WITHOUT RISK?
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