How much do you need? For new machine, Opay POS is N25,000, Moniepoint is N25,000, Palmpay is N20,000. But you can get fairly used for N15,000. You need at least N100,000 cash for withdrawal and deposit. So total N125,000 can start you.
Where to make profit in Benin? Don't open where 10 POS already exist. Best locations: Inside Uselu, Upper Sakponba, Aduwawa, Ring Road by Oba Market, and near UNIBEN. Places with market or school always have customers.
Daily profit: If you do 50 withdrawals of N5,000, you charge N100 per transaction = N5,000 profit. If you also do deposits and transfers, you can make N7,000 - N10,000 daily. On weekends, you make more.
How to avoid loss: Don't give credit to anyone. Count your money every 2 hours. Use CCTV if possible. Don't keep more than N200k in drawer, transfer to bank app regularly.
POS business is not quick rich, but if you are patient and stay in good location, in 4 months you can buy second POS and employ someone.
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