How to Start a Prepaid Phone Card Business
Many people dream of opening their own business. If you are interested in working for yourself but only have general business expertise, you should consider starting a prepaid phone card business. Once you have the business set up, there is little work or money to pour into the operation. Furthermore, you can go into this line of work for yourself without having to take training courses or gain special knowledge. All you need is the start-up expenses and the willingness to put in the sweat equity.
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Instructions
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Decide what kind of phone card business you want to start. Depending on how entrepreneurial you are, you may want to start your entire prepaid phone card business from scratch, or you may be interested in purchasing a franchise. If you do not have the technical knowledge to handle negotiations with Voice over Internet Protocol (VoIP) or to set up websites and pin numbers, you may want to consider a franchise (see Resources for links to franchise possibilities).
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Acquire a website. It is important to set up an online website for online sales. If you purchase a franchise, this may be included in your start-up package. Your web page will be the portal through which you sell a large amount of your phone cards and may also allow customers to see their remaining minutes online. Through using search engine optimization tools, you can ensure your website comes up at the top of internet searches and provides effective advertising.
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Set up phone time and produce cards if you don't purchase a franchise. Contact a VOIP provider to purchase chunks of airtime. Then set up a toll-free number and computer system to handle PIN numbers and track minutes. If you do not have the expertise to do this yourself, you can contract these parts out to someone who is more technologically minded. Then, have the physical phone cards printed with your business' name and logo or perhaps a catchy name and picture.
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Set your rates. You will need to set the rates for the phone cards and the minutes they provide. Think about setting up several different plans to give variety and attract customers. Because most phone cards today are used for international calls, offer card values in various currencies.
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Set up a billing system. Contract with a bank (even an online bank will do) to set up a merchant account for credit card payments. Your local banks will give you quotes for the fees they charge for this service. You might also consider using Paypal or Google Checkout, which give you credit card capabilities without having to go through a bank (see Resources).
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References
Resources
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Comments
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dinrob
Jul 11, 2010
This is a great idea for those who wants to have a business at the comfort of their home. Or you can use this as another source of income, your office mate or fellow employees will be your customers in that case. Cool!
