Ever considered starting a VTU business? A few years back, the well-known way of loading a phone with airtime or credit is by buying a recharge card. Then load it on your phone with a USSD code. According to NCC, we have over 165 million active GSM LINES in Nigeria as of September 2018.

Nigerians spent 767.23 billion Naira on airtime in three months by a study conducted between November 2018 and January 2019. With that kind of active customer base, accessibility is usually a major issue. This is why these users are leaning towards a more convenient way of topping up their airtime.

We now have a new innovative and more effective approach to VTU Vending. This has taken care of the demerits of the orthodox way (SIM loaded VTU) of vending Virtual Top Ups. However, with digitization, came the need to evolve the traditional way of Airtime Recharge, Data Bundles, Utility Bills like Electricity bills, and Cable subscriptions. The VTU way involves a vendor digitally crediting the phone directly. There are no hassles over card or USSD code.

The customer will receive a direct alert telling him his phone has been recharged. Before we delve more into the benefits of a VTU business. Let’s get to know what a VTU is:

What’s a VTU?
VTU is also known as Virtual Top Up. Virtual top-up is a digital way of selling airtime or credit automatically. VTU is different from the traditional way of recharging which involves a recharge card or a USSD code.

Virtual Top Up, therefore, is a digital way of selling airtime credit automatically. It involves providing data bundles, (MTN, Airtel, Glo, 9Mobile) recharge cards, TV subscriptions, and others with any amount you have in your bank account. When the transaction is completed you will receive a message that your line has been credited.

Apart from the fact that VTU offers convenience, it is easy to start. The first step is to have an internet-enabled phone. The phone can be 2 or three depending on the number of services you want to use. Then download the VTU application, where you can credit airtime to a third party.

The materials needed:

PC or Smartphone
Mobile Banking App or Debit Card (ATM card)
Google Drive App
And the Virtual Top Up Vending PACK.
Advantages of VTU Business
The VTU business is easy to start which is a huge benefit. Here are some other benefits of starting a VTU Business:

The good thing about the VTU business is that you can do the vending business without essentially having any CERTIFICATE, COMPUTER, HUGE CAPITAL, or necessarily having a WEBSITE/BLOG. Yes, it’s that easy. It all can start with just an Internet-enabled smartphone.
Starting a VTU business is not capital intensive. Unlike most businesses, VTU mobile application business does not require a very huge capital. The good thing about starting a VTU business is you can begin with a capital as low as N1,000 – N7,000.

VTU business can be done anywhere, even from the comfort of your home. It does not require full operational staff. It can be an independent-owned business managed by you. There is no need for an official residency unless you are looking to expand and take it to the next level. Or if you want to create an impression so you can attract more customers you can rent a shop. If you are looking to have a physical location, ensure you choose an area that enhances the profitability of your business.

Also, a VTU business does not require you to have large equipment to effectively do it. It is a very smart way of doing business because you don’t even need to carry paper or recharge cards. You only need to have a smartphone, where you can conduct your business and credit third parties. You can either possess ei 2-4 phones to put all the SIM cards inside.

A VTU is very lucrative. As a VTU Reseller on Mobile Airtime NG`, you get at least a 3% DISCOUNT on your airtime purchase. So, let’s say you only sell just a VTU per day, this means you get 3% in 2 days (how can a vendor sell one airtime daily? this is really the worst case! Airtime recharge is bought daily). You will also earn a daily dividend: You will be earning from the recharge & data subscription of your direct and indirect down lines for life.

Continue reading here... https://www.sme360.ng/2021/05/13/advantages-of-starting-a-vtu-business-in-nigeria/