In this post, you will get to learn the Top 7 cool Income Sources to Add to POS Business and improve your money-making opportunities,
Well, its no longer news, POS business is very lucrative if you are in a busy or places where banks are far from reach, POS business is one of the less tasking business ventures you can start as a side hustle combining with your paid job,
I have a colleague of mine at our workplace who is into POS, while most of us laugh and smile at him whenever I need to withdraw fast cash without going to the bank, I just transfer the funds to his account and he pays me, for each 10,000 Naira I will pay extra 100 Naira, to me it’s an insignificant sum, the day my insights were wowed on how much this dude makes was when someone did a transaction of more than 70k with 700 Naira as service charge.
What seemed like a joke became a serious inquire, it beats my imagination he reaks in more than 2000 – 3000 Naira on a good day and 1600 when things are not cool
This seemed like nothing serious until I divided my salary into 31 days in a month, I wept for myself. one crazy thing is that my friend does not touch his salary in paying most of his daily bills because the money he realizes from it can settle it.
But this post is not dwelling on how to start up a POS business ( Which you can read here ) however, do you know Oliver Twist? thats I love to get the best in everything I do thats why we are called entrepreneurs, so while he is very Okay in earning extra income from the POS, I introduced him to a rather expository extra source of income he could add to the POS business and be earning x3 of whatever he earns of a good day if you own a POS business in your vicinity here are 7 Extra Income Sources to Add to POS Business
Top 7 Income Sources to Add to POS Business & Boost Profit
Sachet & Bottle Water Business:
This is mostly regarded by some as a venture for women or people who sell provision or canteen ( Mama Put) but you are wrong on this, the advantage you will have on this is that most times people who come to withdraw money from POS are always in a hurry, they just want to get quick cash for one bill or the other however most times you may not have a complete change to pay for when the withdrawal is done, and as human, water is life, people will always thirst for it,
It’s advisable to sell both the bottle and sachet water to able to reach everyone according to their purchasing power or affordability, trust me on this you could be making an extra 200- 400 daily on this alone especially if your water is very chilled, in some areas now sachet water is sold 20 per one and each bag contains 20 sachet water if you sell 2 bags daily (this is easy), it will add extra 400 to your daily earnings
Snacks and Biscuites
This is another smooth extra source of business for your POS business, just get a small showcase stand near your container of wherever you are situated, for me I have learned how to bake cupcakes, meat pies, eggrolls, and chinchin, from my own experiments, with 1500 you can prepare a meat pie worth 3000 Naira or more in the market, you can also source for it from suppliers if you are the busy or lazy type however preparing it by yourself can increase your revenue to about 90% of the capital while outsourcing can earn you 30%
it sells fast, most times the people waiting to withdraw are definitely going to be hungry and snacks are the first points of call before real food, young people are in this category, and they are the highest users of POS, uncles, daddies, mummy, aunties can send monthly upkeep and POS there to help
Soft Drinks:
They are complimenrty goods, if someone buys snakes from you there is a 50:50 chances they will either buy sachet/bottle water or soft drinks from you to compliment the snacks. you can be making more than 350- 600 daily from sales of soft drinks, name it bottled coke, malts energy drinks etc,
Recharge Cards & Data :
Your POS business has a lot of other payment options you should leverage, you can start printing and selling recharge Card, Data, Payment of bills, NEPA, DSTV, and Remita payments, while I see some fliers announcing such services in a POS shop however most times its not every POS shop I have approached offer such services, this is an opportunity that could add more revenue to your POS business
Sell Oil Perfums & Customaize Jeweries:
for Ladies and fashionistas, it will get their attention fast, especially those yahoo generations that love luxuries and rare items, you can sell customize bangles of a football club or any trending outfit, a lot of young people will be very much interested to buy
Other Services you can Offer Depending on Location
if your POS business is Operating in a School environment you can Add the following to your POS business
Sell Scratch Cards and Offer Online Registrations:
Like WAEC Scratch Cards, NECO, UTME, and other academic MAterials, for you to integrate these it means you must have had some cool space to accommodate your students, you can even have a standby laptop for checking and printing of results and registrations. I gave my friend working at National Open university this idea and he is thanking me every day, students always feel frustrated in their online registration, he steps in to facilitate the online Remita payment reducing the stress they face in the bank, and he charge as much as 250 per payment, in one day he can generate more as much as N4000 from online remita payment
Offer Photocopy Services
This might look like a big investment in the long venture, you can start with just the POS business but once it starts paying off you can add this when I was operating photocopy services near Michael Okpara University of Agriculture in Umudike, most days I can make as much as 5k only from photocopy business, but you need to have a generator and a copier, with additional 100k you can get a fairly used photocopier at 40k and a 2.5KVA generator at 65k
Conclusion
I hope with these Extra Income Sources you can select any workable and flexible idea that will enable you to improve your POS business revenue, and this is my aim of listing out Extra Income Sources to Add to POS Business, hopefully, one will tickle your fantasy and maybe lucrative in your location, Here are 15 Business Ideas you can start in 2021 with minimal capital
Hi, I am Joshua Nwankwo, The CEO of Startup Ng and the founder of Afripals Interactive, Well I am a Civil Servant in Day time, a farmer at noontime and a Blogger in the evening.
My passion for being free from Government paychecks and also helping my fellow young people to be self-empowered is why I run this blog
An Animal Scientist by Profession and a blogger by passion, you can always reach me on my contact page for help or support