If you are running out of ideas on what business to start at home because you can only spare a few hundred pesos of your money, worry no more because there’s an excellent option that is guaranteed to work: prepaid load retailer business.
What makes this business option an excellent choice is that 1) you can start this using P500 or less, 2) you can transact and do business anytime and anywhere as long as there’s a carrier/network signal, 3) the item you are selling is non-perishable, and 4) millions of people use prepaid numbers they need to load up from time to time – there’s bound to be at least a hundred of them living in your neighborhood or folks you personally know.
Here’s what you need to start a prepaid load retailer business:
- You should have a cellphone, of course. Most phones work with retailer SIM cards, even the cheapest ones.
- Buy a retailer SIM (could cost anywhere from P50 to P200, depending on the cellular network/carrier).
- Load up the retailer SIM using the remaining money you had set aside as capital. Remember that the SIM can also accept regular loads; so make sure to specify you are buying retailer load, not regular load.
- Most networks offer various flyers, tarpaulins, and other advertising materials for free. You can ask for these from the dealer. Place these ads in key spots outside your home or business address.
- Tell your friends and family you are selling load. Just a little piece of advice: Make sure you do not allow credits unless you know for sure they will pay you.
- You get around 9-11% profit for selling prepaid load which might not be much compared with other businesses but profits are sure on this one because a lot of people need to buy load. You can also get more profit from select dealers, so better ask around for rates.
- As much as possible, do not use the money you earned for the load within the next few weeks so you could have enough cash to reload your retailer SIM. Don’t worry because as the business grows, you will soon have ample money to reload your retailer credits and also use for other purposes like buying a new retailer SIM for another cellular network.