10 Businesses You can Add to POS Business

10 Businesses You can Add to POS Business

Since the Central Bank of Nigeria introduced the agent banking system in 2013, much mobile money or POS agents have sprung up. And it’s a massive step to enhance the growth of financial inclusion in remote, unreached, underserved areas in Nigeria. 

Local POS agents can complete both cash and non-cash transactions, including: 

  • Cash withdrawal and deposit
  • Money Transfer 
  • Utility payments (Electricity, Airtime, Data, etc.)
  • Cable TV payments (DSTV, GoTV, and StarTimes)
  • Betting services

Apart from the regular POS services, FaziPay POS adds some unique services such as

  • Insurance (Malaria, Health, & Car)
  • Tax payment
  • Transport and logistics
  • Religious donations 
  • School Fees and other levies
  • Solar sales (Outright, PayGo, and BNPL)

Starting a POS Business is also lucrative as you can make up to N10,000 in profits. But what if you have other businesses that you already do? Can you still add POS to it? The answer is a simple yes, no matter the size of your business. So, what businesses can you add to POS business?

10 Businesses you can add to pos business

10 Businesses to do with your POS Business

1. Resell Solar products

As a POS agent, running solar product sales along your POS business is easy. You can begin to attract customers to your POS booth when you entirely run on solar power 24/7. 

Solar lamps, bulbs, and other devices can help you build customer trust. An excellent way to integrate solar sales with POS business is to register with FaziPay. Their POS has different payment options for buying solar.

Moreover, FaziPay POS agents earn up to 5% of every solar sale as part of their monthly cashout. Why would you let such a chance pass you by?

2. Printing and Selling Recharge cards

One of the easiest businesses to run alongside the POS business is selling recharge cards. And you can even print these recharge cards and resell them to other vendors. Moreover, running these businesses requires a little space.

A computer with airtime printing software, a portable printer, a bag, a chair, and a table are the essential items you need to start your business. Put these items together in a shop or kiosk and buy recharge card spins to begin.

In addition, you will need suitable promotional materials and a good network of people. Also, remember to tell your customers about your other services, and your business can start.

3. Selling Data bundles

Smartphone users with Android and iPhones know the value of having data on their phones. As an everyday need, people are always looking for ways to buy the cheapest data possible, which is a business opportunity.

You can buy bulk data from internet service providers and resell it to your customers who need them. Also, remember to promote this business around your POS business for extra income. 

4. Selling mobile phone accessories.

Another typical business that requires low capital, like POS business, is the sale of phone accessories. You could sell include charges, earpieces, cables, phone cases, screen guards, power banks, and other items. 

All you have to do is hang them for display in your POS shop for customers to buy. You can run and manage both businesses together.

5. Phone charging service

In addition to having a POS business, you can create a charging box for people’s phones and devices. This business became a necessity due to the unstable power supply. 

This business that requires putting security plans in place is similar to a POS business. You must also be alert and restrict crowd access to lower the risk of theft or scam. Running both businesses is a sure way for extra income.

6. Food and Beverages

The sale of food and beverages is another opportunity to expand your POS business. For example, people coming to use your POS service wouldn’t mind buying snacks and drinks. 

You don’t even have to make the snacks yourself; you can get an excellent confectionary to supply them. Examples include pies, egg rolls, plantain chips, doughnuts, buns, puff puff, popcorn, and even chinchin. 

As for drinks, you can sell Coca-Cola, Pepsi, La Casera, and Bigi products, including bottled and sachet water. Local organic drinks like kunu, nunu, and zobo can also sell fast in some localities. 

7. Open a Business center. 

You can open a typical business center offering printing, scanning, and photocopy services alongside a POS business. The printing business never goes old if you get an excellent locality where the service is needed.

Good locations for this type of business include colleges, polytechnics, universities, marketplaces, shopping malls, and secondary schools. However, a kiosk may not be enough to combine both businesses; you will need a shop. 

It will be great if you have word processing skills, but you can also hire someone who does. In addition, you can add online registration and result-checking for school admissions, jobs & training to your services. 

Meanwhile, online registration and result checking services may involve selling appropriate cards. So, prepare to sell WAEC, NECO, or JAMB cards. Once you are set, you can start making money. 

8. Resell DSTV, GoTV, or StarTimes decoders

Nigerian families love entertainment, so selling cable TV decoders is another lucrative business to add to the POS business. On the other hand, the producing companies are willing to partner with existing businesses.

Apart from selling the decoders, a POS agent may also help people renew their cable TV subscriptions. Most importantly, people must trust you in getting them connected to their favorite movies or sports programs.

9. Tailoring and other craft businesses

Having a craft is another option to add to your POS business. For example, barbers, tailors, mechanics, and food vendors can open a POS business as a side hustle. Practically, any craft that affords you time and space can work.

Moreover, whatever you make from your other business only becomes an addition to your POS business income. And if you register with a company like Infibranches, you can be sure of multiple opportunities for more income. 

10. Provision stores or mini-marts

You should not rule out provision business if you seek to add another business to your POS business. Moreover, having a preexisting business similar to a POS or a mobile money agency makes it much more manageable. 

On the other hand, you can partner with any existing provision store or mini-mart to start your POS business. All that is important is a will to solve a problem with your POS business idea. 

In the long run, you can help expand financial inclusion in your locality. Moreover, you can save your customers the time it takes to queue up at ATM points to withdraw. While you serve them, you also earn commissions that you can cash out monthly.

One can run other businesses alongside POS business and make extra profit. We have only stated the ten most common ones. So, free to diversify your options with whatever works for your locality based on needs. For example, a POS agent can help people open accounts with certain banks. And that is another opportunity to expand your business. Now you know about at least ten lucrative businesses you can add to your POS business for extra profit.

Related post

Solar Panel Lifespan – How long are solar panels…

Investing in solar panels is not just a commitment to clean energy; it’s also a financial investment. Therefore, understanding the lifespan…

How to Maintain your Solar Panels

You’ve made a smart investment in clean and sustainable energy with your solar panels. To make the most of your solar…

Solar Inverters in Nigeria: How Much Do They Cost.

Solar energy has gained significant traction in Nigeria as an eco-friendly and cost-effective power solution. When it comes to setting up…

Leave a Reply

Your email address will not be published. Required fields are marked *