How to Start a Mobile Recharge Shop Business in Bangladesh
Start a Mobile Recharge Shop Business in Bangladesh
As you can do it in your free time or can also take it up as a full-time business, you may consider mobile recharge shop business. It’s one of the latest and trendy businesses of this time. Although starting a mobile recharge business requires onetime small investment, it gives you immediate return in terms of commission on every charge. It’s not only a hassle-free business but it soon offers you a continuous stream of income.
Wherever you go you’ll find one of the common things is mobile phones and other mobile devices such as tablets or laptop. It has also been skyrocketing over the past several years in expanding of mobile internet use. However, it might hear surprising the number of mobile device users in Bangladesh and that’s more than 80%.
Why Start a Mobile Recharge Shop Business in Bangladesh
The number of mobile phone users in Bangladesh has reached 80 million by the year 2018 according to the Bangladesh Telecommunication Regulatory Corporation (BTRC).
It means on average there are mobile phones in each family and many of them have more than one as well. So, whatever may happen a person will definitely recharge his mobile as mobile phones have become an indispensable part of our life.
It doesn’t matter how hard the market may get affected by inflation or recession, but no one will stop recharging the mobile phones. That’s why mobile recharge shop business in Bangladesh is one of the safest businesses with a potential market. And these are the reasons that should inspire you to start this business needing a very small investment.
Steps to Start a Mobile Recharge Shop Business in Bangladesh
Mobile recharge shop business is not only a profitable but a low-cost business opportunity in Bangladesh. It makes sense to start mobile recharge business and make profits as mobile penetration and the number of mobile phone users is increasing at an exponential rate. You can start with very low investment, which is the major advantage of starting your own mobile recharge business.
Although you don’t need to invest heavily, just a simple mobile that’s active for doing mobile recharge. But, it’s not as easy as it looks like. There are some specific steps to follow if you want to be succeeding in this business. Well, let’s know the essential steps below.
First Step: Business Location
While you’re in mobile recharge shop business, location matters much for your business success. So, when you like to set up your own mobile recharge business, you should decide and select the best location.
You can simply expand your business line and provide recharge facility to your customers if you already have any kind of shop or running business. Also, it’s the best part of this business that you don’t need a storefront to start up the same.
If you want to start this business, you don’t need a reallocation essentially, even you can work from home. If you already have an established shop of any product then a mobile recharge business will increase the customer count. Although it’s not mandatory to have a storefront, it’s better to set a location for regular use. It’ll be beneficial when customers will find you in the same place every day.
Second Step: Contact with distributors or dealers
It’s not only an important and crucial step but comparatively easy step. And that’s why you should contact the distributors or dealers of various mobile networks. These include, for example, Grameen Phone, Robi, Banglalink, Airlet, CityCell, Teletalk etc.
Also, you should tell them about your plan to set up a mobile recharge business. As they’re ready to expand their business, they will quickly help you out and guide you further. If you need to find them, you should ask other people having recharge business or you can even search online. Moreover, they would also guide you if you visit the respective mobile networks office.
Third Step: Necessary Equipment
Although earlier there was the need for different mobiles to recharge for different mobile operators, now with the availability of smart apps, mobile recharges can easily be done.
In this case, you need just one Smartphone for the same with internet connectivity in order to run your mobile recharge shop business. Also, starting a mobile recharge business needs a very low investment.
Although it’s a highly profitable business, it needs not more than BDT 15, 000, which is less than US$200.
Fourth Step: Business Marketing
As it’s one of the important steps, you should start by saying that you provide recharge facility. Also, you should consider putting banners, flyers around your shop. Moreover, you can display around your shop these marketing materials that provided by most of the network companies like free posters, banners etc.
You can do one more thing that you can offer mobile recharge facility and tell about it your regular existing customers, neighbors, and people in your vicinity.
Because there is very less risk involved as the overheads are less and the investment in much lesser as compared to other businesses, mobile phone recharge shop business has a very high probability of becoming successful. Besides, since they are always in high demand it’ll also be easier to market and sell the products.
Fifth Step: Avoid Mistakes
It’s important to avoid the few common mistakes in recharge business because the goodwill of any business depends on the satisfaction of the clients. So, avoid making the mistakes, such as writing an incorrect number which will lead to incorrect recharges and customer harassment.
And keep in mind that you should complete the recharge on time. This is because as a customer can bring hundreds and similarly they can remove thousands at the same way. So, if there are any technical issues than mention these to the customer in details, other than complete the pending recharge as soon as possible. So, it if you start mobile recharge business then you should follow the correct approach and work sincerely.
Some Other Steps to Follow to Start a Mobile Recharge Shop Business in Bangladesh
There are some other essential steps to follow if you’re in mobile recharge shop business. You must consider chasing them in order to run the business smoothly. Let’s see what they are:
- Create a business plan
- Register a Company
- Organize Legal Documents
- Understand the advantages of API based Mobile Recharge Software
- Hiring employees