How to start a recharge business in India in 2021 | Earn Profit Guide
If you want to start a business just from your home or in your locality then in this blog I am going to give you an amazing idea that helps you in this.
Recharge business, yes, in this blog I am going to tell about this. I give you detailed information which helps you to start it right now. If you think a business and you want to do just from home, this is one of the perfect business for you.
14 steps to start a recharge business in India in 2021
1. What is the recharge business?
In recharge business you recharge others' mobile, tv, you pay others electricity, water bill, and many other online transactions. When you do other mobile or tv recharge then you get a commission. And that's how you make money. Many people thought that it is not a profitable business, but the truth is that this is a business where you lose absolutely nothing but you earn so much money.
2. Gain experience in the field.
Experience is very important for any business. Like this in recharge business also you need to have some experience. Now the question is that how you gain the experiences? The simplest way is first to recharge your mobile and tv. Then recharge your family and friends Mobiles and tv. Then you come to know that how it works? How much commission do you get at a particular recharge? Which software you need to use? etc.
3. Learn about your market.
Market research is very important when you are going to start a business. The value of your products, their need, customer quantity, current prices on the market, etc. You must need to know. The other people who have already done this business, what their profit margin, at what price they offer services to the customers, etc. you need to know because based on that you need to personalize your service that fits in the market.
4. Make a business plan
Business plan, if you follow my other business ideas blog then one thing you get to know that a business plan is the most important thing for a business. If you don't make it then it is better for you to not start the business. For recharge business, these points are needed to include.
How much cost you require to set us the whole business. for example, if you do this from a small shop, the rent of this shop, software charges you use, other bills, etc.
B. Equipment required:
What kind of equipment you need to mention clearly on the business plan. Then you need to manage your cost and book your profit.
C. Running costs:
What is the running cost of your business? It includes your shop rent, software charges, bank charges, and other bills.
D. Your target market:
Who are your target customers? Mainly in recharge business the people who use mobile, tv, and have electricity and water connection they are your perfect customers.
Pricing is also a very important factor in your business or business plan. At what price you are going to offer your service is very important in a competitive market. If there are any existing recharge shops then you need to what price they charge from the customers. And you need to gove more attractive price so that they come to you.
5. Marketing plan.
Marketing, marketing you forget that your business will grow. It is the backbone of any business. You need to market your service in the whole area that people come to know about it. Then they come to take service from you. If you provide good service to them then they do word-of-mouth publicity for your business. And it is the most popular technique of marketing.
6. How to increase sales?
When you run a business and if you want to grow your business then increase the sales is the most important step. You can start a campaign to attracts customers towards you. For example, you can offer low price service, high-speed service, many special offers during any special moments, etc.
7. Advantages of the recharge business
- You don't need to invest a large amount of money.
- No technical experts are required.
- No labor cost.
- Easy to set up.
- It has a growing market.
- Just work from home business.
8. How much investment you need?
If you want to start it from your home then you don't need to think about rent, electricity and water bill, etc. You just need the basic amount to recharge others' mobile, TV and do other transactions.
There is no any fix minimum amount to start it. You can start it as low as 5000. And a super investment is up to you.
9. What is required for your business?
- First, you need to require a good quality mobile or computer.
- You need a saving or current bank account how to give you the best service. It is better to have two bank account.
- You need recharge aggregator software and apps.
- You need a billing machine.
- You need a diary of software that keeps your data.
10. Find a location where you can set up your store.
There is no any fix location to start this business. If you start it from home then this question is worthless. But if you planning to open a shop then decide on a location which is mostly crowded. Lots of people come there. And make sure you are easily visible.
11. Design your shop.
A good decoration always attracts more and more customers. If you start throwing a shop then give a very attractive look to it. People have to feel that you are serious about it. Then they trust you and took your service.
12. Complete the business legalization.
In the recharge business, you don't need so much registration. If you just start it from home then you don't need to think about any kind of legalization work. But if you start a shop then you need a rent agreement, a software license that you are going to use, etc.
13. Hire the best staff for your business.
In the starting, I suggest you start it by yourself. If the number of customers increases and you face problems managing it then you can hire a man. Make sure that he or she can use mobile, internet properly.
14. Which software or app you can use?
- i. Airtel Thanks app
- ii. Jio pos lite app
- iii. Epayon app
- iv. True balance app
- v. Mobikwik app.
- vi. Phonepe app
- vii. Google pay app
- viii. Amazon pay app
It is a very good and good profit margin business with a very low investment. In this business, you don't need any special knowledge. Who can use mobile, internet and have a bank account and he or she want to start a business they can make a good profit from it. There is a very minimal chance of loss. So without any further delay, you can easily start it. And you don't understand anything just comment below, I will try to solve your problem.
Written by Jyotirmoy Chowdhury.