With the estimated number of active internet subscribers in Nigeria around 157,551,104 (according to the National Bureau of Statistics Q1 2023 report), the business of providing data to consumers has positive prospects. To make the best out of this business, one would have to purchase the internet bundles in bulk at a lower price and resell them in smaller quantities to end-users for a profit. That’s exactly what the business of data reselling is. Read on to find out the steps to take to begin this business in Nigeria.
How to start data reselling business in Nigeria will be discussed below:
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Do Market Research on Data Reselling
Just as with any business venture one wants to go into, market research is the first step in starting a data reselling business.
The market research exercise would enable you to identify the target market for data services. You’d have to determine whether you would want to cater to individuals, small businesses, or both.
Another important aspect of market research is to assess the competition. Identify the strengths, weaknesses, pricing strategies, and service offerings of the existing data resellers around you.
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Create a Business Plan
Creating a business plan is the next thing to do after you’ve concluded your market survey. A business plan is important for data reselling business in Nigeria, just as it is for any other type of business, for several reasons.
Doing this will help you achieve clarity of purpose for your data reselling business, and financial planning and provide you the chance to assess the potential risks of the business and include the strategies to mitigate them, among other reasons.
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Sign up as an Agent with a Data Reselling Company
The next step in becoming a data reseller in Nigeria is to sign up as an agent with a data reselling company.
But before we delve further, let’s explain what a data reselling company is. Data reselling companies purchase data in large quantities straight from telecommunications operators, such as MTN, 9mobile and GLO. These data reselling companies buy data in bulk volumes from telecommunication operators that run into humongous sums – which you may not afford to have.
After getting these bulk internet data bundles from telecom operators, data reselling companies then resell the data to individuals who want to earn a living selling data to end-users in small quantities – that is, people like yourself who want to delve into the business of data reselling.
With the explanation of what a data reselling company is, is out of the way, let’s proceed to how to become a data reselling agent in Nigeria.
To become an agent with any of the best data reselling companies, download the app of the data reselling company of your choice or visit their website.
You should research to uncover the reviews of past or present data agents with the data reselling company you choose to go with to ensure that you only go with the one that offers the best services and rates. Some examples of data reselling companies in Nigeria include Swiftbills.ng, VTU.ng, clubkonnect.com, Quicksub.ng and pawawallet.co.
Irrespective of the option you decide to go with, proceed by providing the required information at registration to have an account. Go ahead with the verification process to complete the registration process.
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Fund Your Data Ressling Agent Account
The next step after you have successfully registered an account as an agent with a data reselling company is to fund the account. Depending on the data reselling company you go with, you can spend as little as N10,000 (even N5,000) to purchase an internet data bundle at wholesale price. Some reselling company websites may let you purchase internet data bundles at even lower packages.
Follow the prompt to transfer money from your bank account into your data reselling agent account. It is with this money that you transferred that you would use to purchase the internet data bundles you would resell to the end-users.
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Purchase Data Bundles
With your data reseller agent funded, the next step is to purchase data bundles that your funds can get. Whether you are using the app or website of the data reselling company you are an agent with, navigate to the section of the user interface where you’ll see where to buy the data bundle. Do as you are prompted to complete the data bundle purchase for the network providers that you want to resell.
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Promote Your Business and Acquire Customers
What’s the essence of doing business when you are not selling your products to anybody? To increase your earning potential with this business model, you’ll need to take marketing and customer acquisition seriously.
Do this by first developing a comprehensive marketing strategy to promote your data reselling business. You can choose to combine or utilize any of the following marketing channels, including social media, word of mouth, online advertising, and search engine optimization.
You could up the ante a notch further by investing in a website to put your business before a wide audience – the millions of internet subscribers in Nigeria. Let your website showcase your data bundle offerings, pricing, and contact information. Also, ensure the site is optimized for search engines to improve visibility. Moreover, use social media to engage with your leads and share updates.
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Sell Data to End-users
Now sell to the end-users that have come through your various sales funnel you’ve set up in the previous stage. Since you are getting the internet data bundles at a wholesale rate, you can peg your selling price a little lower than what your potential customers would pay to get what you are offering; but in a way that you can still make a decent profit.
To keep your customer base from dwindling, keep on investing in your marketing efforts to keep the leads coming – and the money right behind them.
With a smartphone, tablet, or personal computer that is connected to the internet, you can record tremendous success if you adhere to the guidelines we provided above.