How to Start a Loading Business in the Philippines
In this day and age, money is hard to come by as opposed to previous generations and investing in a business takes resources from your time and investment. The Philippines is known as a social capital of South East Asia for the daily users of social media such as Facebook and Twitter. Although the presence of the internet has had a huge impact on how we communicate, a majority of Filipinos still use texting since it does not need data and relatively inexpensive.
As such, e-loading is a commonplace here so much that you can see it every where you go. Starting an loading business is a relatively low risk for the demand it generates among Filipino communities. This article will answer the many questions relating to loading business as well as tips on starting up!
1. How much do I need to invest in an e-loading business?
The e-loading business does not ask much from you in terms of capital, as you would only need to start with a capital of about P500 – P1000 for the load balance and P800 for a simple mobile phone. Your investment would essentially depend on how many customers would go for you to top up their balance.
2. What do I need to start such business?
You need to know which telecom business you would do business with depending on the amount of each telecom’s subscribers are in your area. Currently, the Philippines has three major telecommunication networks that are Globe, Smart, and Sun Cellular.
If you’re not sure which provider is the most commonly used in your neighborhood, you can opt
to buy an All-in-One SIM card as opposed to an individual retail SIM card from each company.
The advantage you have with the All-in-One is that it gives you access to sell prepaid load to all networks with just one SIM card.
Another thing you would need is a mobile phone. Technology is developing quickly every year, and despite all the technological advancements we’ve had, a smartphone is not really needed for an e-loading business. A simple small phone will do as you would just be using texting to load other people’s devices. An example is a Cherry Mobile phone, a small and handy mobile phone you can get for P800.
3. Where can I get the SIM Card I will use for loading?
A retail SIM card can be purchased at their respective wireless centers of the telecom providers. What you get usually is a SIM card with an eWallet where you store the credit balance for use to reload other people’s prepaid phones.
The All-in-One SIM card can only be procured through online purchase, and similarly, the credits you will use for prepaid reloading will be bought online. Be aware of third-party scammers and make sure you only buy from legitimate third-party dealers.
4. How do I earn money from loading?
You earn money through your commission, and the percent of your cut depends on the telecom network. When the amount deducted from your eWallet is less than what your customer paid for, you earn a commission.
5. How can I earn more money from this business?
Just like any other kind of business, it depends on how you sell yourself to other people. Start by referring to your loading business to friends and family, and move on to your co-workers. If you are determined and persistent, your social network will inquire more for your services and maybe even refer to you from their friends to load up with your business!