Looking to start your own e-load business but don’t know where or how to start? Here are answers to the most frequently asked questions about the e-loading business that could help you start your own business today.
1. What do I need to start an e-load retail business?
The capital and requirements are very minimal. All you would need is a mobile phone, a retailer SIM card, and around ₱750 as starting capital.
2. Are there different ways to start an e-load retail business?
There are two ways to get started on your e-load retail business:
1) By getting individually issued retail SIM cards from telecom companies (Globe, Smart, or Sun Cellular) and
2) By getting an All-in-One SIM Card from a third party seller like LoadCentral (this enables retailer to sell prepaid load for all networks using just a single, special SIM card).
3. What method of e-loading should I choose for my retail business?
Logically, each retailer SIM card from one telecom network would require one smartphone (unless the retailer uses a dual-SIM phone). Thus, to sell prepaid loads for Globe, Smart, and Sun Cellular users, the retailer has to make sure each retailer SIM card will be in use.
On the other hand, for the All-in-One SIM card, the retailer needs just one mobile phone or a computer to sell prepaid loads to users of all three major telecom networks. However, there is a special code to be used before finalizing every transaction (for security purposes).
Another advantage of the All-in-One SIM card is that its service extends beyond e-load for cellular network users. All-in-One SIM Cards can also re-load pre-paid cable subscriptions, Satellite cards, and Game Credits.
4. Where do I get a Retailer SIM Card?
Individual Retailer SIM Cards can be purchased from wireless centers of each telecom network. The SIM card usually comes with an activation service and an associated eWallet/eMoney/Loadwallet account with an issued PIN. The eWallet or eMoney account is where the retailer can store credits (money value) to be used for reloading prepaid phones of customers.
The All-in-One SIM card functions in the same way and are available for sale online from dealers. Credits for the eWallet/eMoney/Loadwallet account are also purchased through your dealer or sub-dealers.
5. How do I earn through this business?
As an e-load retailer, you get your earnings through commission.
The percent commission per Telecom Company ranges from 3% to 13%. You earn your commission as the amount diminished from your eWallet/eMoney account is less than what the customer pays for, depending again on the percent commission. (To illustrate, a prepaid load worth P30 may deduct about P27 from the load wallet. Thus, a P3 profit is generated from that transaction. The rate of commission, as mentioned, may vary per telecom firm).
However, in All-in-One SIM card lets you earn UP TO 25% of profit since it has a very wide range of products that you can sell.
6. How much can I earn per month?
On average, it actually depends on the number of people who buy e-Load from you and the discount rates. Of course, there is a potential to earn more if the retailer can sell prepaid load to more customers.
7. Is there any other possible e-load business besides being a retailer?
E-load retailers are the so-called ‘front liners’ of the e-loading business. The hierarchy goes: there’s the telecom company on top, followed by large company distributors, dealers, sub-dealers, and finally the retailers.
For individuals who have more start-up capital available (around ₱1995.00), a sub-dealership can provide larger income through an added commission from the retailers you entice to join your network.
SO WHAT ARE YOU WAITING FOR? START YOUR E-LOADING BUSINESS NOW!
