How to start data reselling business in Nigeria 2021
Table of Contents
How to start data reselling business in Nigeria 2021
Read all about how to start data reselling business in Nigeria.
Data reselling is a very popular way of making money online that involves buying data bundles in bulk from a reseller platform and resell to customers in small quantities.
Data reselling is done by individuals, companies, banks, financial institutions and many more. They all basically purchase data bundles from VTU platform & telecommunication companies and sell to people at a higher price to make a profit.
As an individual, you get to make money when you purchase a certain amount of data from these reseller platforms and then resell to your friends, families and others. It is a very lucrative business that I very easy to start, and does not require much capital.
These days, financial institutions such as banks, fintech companies have added airtime top-up and data purchase to their services. They get to make money when their customer purchase data and airtime from their platform.
In this blogpost, I am going to be writing about everything you will need to about how to start data reselling business in Nigeria, under the following sub-topics “What is data reselling?”, “Requirements to start data reselling business”, “benefits of data reselling business”, “How to start data reselling business” and more.
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Let’s get into it then…
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What is Data reselling?
Data reselling is a very popular way of making money online that involves buying data bundles in bulk from a reseller platform and resell to customers in small quantities.
Data reselling is done by individuals, companies, banks, financial institutions and many more. They all basically purchase data bundles from VTU platform & telecommunication companies and sell to people at a higher price to make a profit.
As an individual, you get to make money when you purchase a certain amount of data from these reseller platforms and then resell to your friends, families and others. It is a very lucrative business that I very easy to start, and does not require much capital.
Who is a data reseller?
A data reseller acts as a middleman between telecommunication company and the consumer. The data reseller buys bulk data at a reduced price and he sells it to the end users.
The data reseller can sell data through his website, social media channels, billboards and so many ways.
As a data reseller, you get to make money the price difference from the price difference of buying in bulk and selling to customers at a slightly higher price.
Requirements to start data reselling business
Before you can start the business of data reselling, there are some things you will require:
Finance or capital
As with any business, you will need money to begin your business as a data reseller. The advantage of this business is that it does not require much capital to start.
The amount of money you will start with depends on the scale you want to start the business on, if you want to start on a large scale, then obviously you will need a larger capital.
Laptop or smartphone
Another requirement is a laptop, but if you don’t have a laptop, you can easily use a smartphone. You will need to buy data and sell also, so it’s obvious that you will need one of these gadgets.
Internet connection
Your laptop or smartphone is basically useless if you are not connected to the internet, so you will need an active internet connection.
To buy data from reseller platforms, to communicate with potential customers, you will need an internet connection.
Bank account
Another requirement is a bank account. This bank account will be what you will use to receive payments, and make payment as well.
How does data reselling business work?
You will need to buy data bundles in bulk and sell in smaller quantities to your customers. Since you can’t directly buy the telecommunication giants, you will have to get it from one of the numerous reseller platforms.
For example, you fund your wallet with 5000 naira and buy 1GB data for 470 naira and sell for 600 naira. You will make profit from selling to people, the more people buy from you, the more money you earn,
If you can fund higher and sell to a larger number of people, your earning potential is limitless, you can be making thousands of naira monthly doing this.
How much do you need to start data reselling business?
Like I earlier said, data reselling business is very cheap to start and you can start with as low as 1,000 naira. The amount of money you start with will be depend on the scale you want to start the business at, if you want to start on a large scale, then obviously you will need a larger capital.
If you are going to be reselling & transacting with a large number of people daily, then you will need to start with a larger amount of money, maybe 10,000 naira and above.
How to start data reselling business?
To start data reselling business, you will need a reselling platform. A reselling platforms are websites where you can get airtime and data at cheap rates. Even if you are not buying data in bulk, these companies allow you to access cheap data bundles online.
There are numerous platforms you can start data reselling in Nigeria.
Once you are able to find a good platform (I’m not going to mention any here, as I don’t want to be bias), you will need to register an account.
Once you register on the platform, you will have to fund your wallet, and its from this wallet you will use to buy data.
Follow the process and buy data on the platform, you will choose the network of your choice, the data plan you want to buy and also the type in your number.
Once you buy data successfully, then the data should be deposited on your mobile line within minutes. You can then begin reselling.
Benefits of data reselling business
- Low capital required to start up
- You can easily make money with your smartphone
- Data reselling is less stressful compared to SME data
- You don’t need to have a website to start.
- Earning potential is not limited
Frequently asked questions (FAQs)
How to sell my data?
You need to advertise your business to make sales, sell to your immediate friends and family members. Let them refer you to their friends as well. You can make lot of sales on social media, just make sure you have a good referral system.
Is Data reselling profitable?
Data reselling is very profitable. You just need to have enough customers to succeed i.e. the more people buy from you, the more money you make.
Who is a data reseller?
A data reseller acts as a middleman between telecommunication company and the consumer. The data reseller buys bulk data at a reduced price and he sells it to the end users.
The data reseller can sell data through his website, social media channels, billboards and so many ways.
As a data reseller, you get to make money the price difference from the price difference of buying in bulk and selling to customers at a slightly higher price.
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Conclusion
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