Buying and selling gift cards has become a well-liked business in Nigeria, and lots of people are turning thereto to supplement their income instead of seeking work.
The gift card industry is said to be a crypto-currency company and has grown in popularity in Nigeria and worldwide in recent years.
A gift card is similar to a prepaid debit card in that it has a certain amount of money that can be used on a number of items. Gift cards are marketing tools for businesses.
Customers think of gift cards as free money, but when the card is used, the retailer counts the entire amount as revenue. The merchant, however, is responsible for the gift card until it is used.
In a gift card company plan, there are a lot of steps or loops to choose from. A gift card is often accepted or can be used anywhere that accepts them.
Open-loop cards and closed-loop cards are the two types of gift cards accessible. A Visa gift card is an example of an open-loop card, and it can be used anywhere.
Closed-loop cards, on the other hand, are usually only good for one store or one company. However, some people have difficulty understanding the way to set about running a present card business, which is the subject of this essay.
I’m able to show you ways to become a present card buyer in Nigeria in simple terms.
What is the character of business?
The gift card business is all about profitably brokering gift cards. You find an individual who has an unwanted and unused gift card, and you find an individual who requires an unused gift card.
You buy from a seller, then sell it to a buyer. If the customer buys for 80% of the value, you’ll buy for 70% of the value from the vendor and keep 10% as profit.
What Exactly is a Gift Card?
A gift card may be a prepaid stored-value money card that’s usually issued by a retailer or business and may be used rather than cash while making purchases there.
Where am I able to get Gift Cards and the way? Do I buy customers?
This is the most time-consuming step because you want to first purchase gift cards from customers before you sell them for a profit. You’ll gain clients in a number of ways, a number of which are given below:
- Inform your family and friends about your new venture.
- Use hashtags for gift cards on social media.
- Create posters and distribute them throughout the community.
- Use the media to market yourself.
- Create an internet page
You can also search for gift card stores in Nigeria.
Resources: Starting A Fabric Business in Nigeria in 2022
Where Can Gift Cards Be Sold?
Now that you simply have clients that want to sell gift cards, you ought to search for an area where you can sell gift cards for cash at an inexpensive rate.
Cardtonic.com may be a recommended site for selling gift cards. We may purchase any gift card at an inexpensive price. For instance, if we buy $100 worth of iTunes for 26,000 nairas, you’ll get 23,000 nairas from your clients.
This suggests that for each $100 you generate a profit of three thousand nairas. Isn’t it fantastic?
On Cardtonic.com, here’s the way to sell gift cards.
On Cardtonic, here’s the way to convert your Amazon gift card to take advantage of Nigeria without stress:
To begin trading gift cards, download the mobile app or register on the website.
Log in and familiarize yourself with the three-step gift card trading process, which only takes a couple of minutes.