Myths of top-up business

image source: cdn.mmog.asia

I think top-up business is one of the simplest and most famous businesses in youngsters nowadays, including students. Personally, it is the first business that I seriously got involved in (not including the sales events in mrsm and the one-off used book sale after spm).

I think there a lot of people out there who want to know more about this, so here is some simple information (and myths!) on top-up business from my own minor experience.

Like the name goes, it is the act of selling top-up credit to the buyers by a few ways.

1^st, the salesperson buy the top-up cards at usual price (or some may get lower price) from retailers and sell it back at a slightly higher price.

2^nd, the salesperson acts as an agent for a company, after registering with the company to open up his/her own company account. The agent will firstly bank-in his money to the personal company account (something like buying the credit from the company). When a buyer wants a top-up, the buyer will give cash to the agent, before the agent sms the company servers to process the transaction and the buyer will have the top-up via easyreload.

The one that I did is the 2^nd option, although some company may have different process for top-up transaction. The famous question is, “So where do you get the profit?” By becoming an agent, you will be given lower price for the sold top-up, so there’s the profit. So, if you yourself are using top-up services, basically u already gain the profit even without selling it to others. However, the amount of discount obtained may depends on the company and the type of top-up itself (celcom, maxis, digi).

image source: http://aamobiletopup.blogspot.com/

Some pros of top-up business include:

1.      Very simple and not time-consuming

2.      Almost all people can manage to do it

3.      A lot of people are using top-up credit services

4.      Low starting ‘modal’

5.      It is ALMOST impossible for you to be at loss

6.      It can make you very famous!! (lol, juz kidding) :P

Some myths and cons of top-up business include:

1.      Unless you have A LOT of REGULAR customer, the profit is quite small

2.      Less people are using top-up services nowadays due to development of smartphones and online chatting apps

3.      There’s always chance of wrongly typing the buyer’s phone number (which is your fault so you need to pay for it).

4.      If you are giving loan like ‘top-up first, pay later’ services, there’s possibility for you to be scammed, or worse, you forgot about it.

So basically, this is the simple summary of top-up business. The main reasons for me to do this in the beginning are to find experience and help others (as people don’t need to find places for top-up, just sms/RQ me).

So, if you are interested in starting your own top-up business, it is good idea to do some research on the companies available for this. It is also my pleasure if you want to register yourself with the same company as mine. Seriously, the starting cost will be much lower than directly register with the company.

Feel free to comment here or my fb if you have any question. Thanks for reading.