The first couple of days were a bit of chaos as some of the documentation is sketchy, no i’m not talking about the sales pitch the problem is plenty of sales pitch and clarity is needed on the technical. I have written a guide myself this morning as everything seems to have the Retail and Distributor information mixed when a retailer really doesn’t need to know what the distributor is doing as it just gets confusing. But all in all its pretty easy to setup once you sort out what is what. I’m going to clarify this all myself and do my own documents to de-clutter things as I want to be able to help others do LoadXtreme either as a Retailer or Distributor without any problems.
Why are we going through the hassles of converting our existing business? Well firstly we have 4 phones currently because of all the networks we use, each one of those has a separate load wallet meaning you have to maintain the 4 electronic wallets with cash where as the LoadXtreme its just one wallet for all. Add to that people can pay for Satellite, Landlines, Internet and even send flowers via the LoadXtreme account it has multiplied our Retail business with several other business incomes without going out on a limb. For someone else they could be running this straight from their mobile phone and just let the neighbours know you can load them, easy as that.
From a Dealership point of view though its a growth business model and within 2 days I have sold another dealer package and 6 retail cards which gives me reoccurring income long-term as well as some up front payment (Retail cards P250 each recovering my initial investment of P3988) distributor pack P500 for getting another distributor and the possibility of P500 for every distributor he brings in.
In reality the P3,988 I expect to pay for itself within a month and reoccurring incomes off that as well as new income streams. Even though this wasn’t my initial idea the interest in people wanting to save 10% on their own expenses never mind sell load means that the Retail cards are sellable as “discount cards”. Doesn’t take much maths when you look at how much people spend on preloaded stuff in the Philippines that even if they didn’t load others they would recover the P250 quickly, which also makes the dealership packages more inviting.
Anyway though that is where I have been as I wanted to test the banking system as well as going through the various methods and steps of utilizing the business. As understanding it myself even for bits I will never need will make it easier to explain to others. But more importantly sorts out our load business here so that it runs better! often our guys on the 4 phone system run out of load or disappear for a couple of days leaving us unable to load. Now we just run into Minglanilla BDO top up our account and can sell load to others if they are stuck as well as load ourselves with no hassles. If your running a sari-sari or load business, even if your a student just looking to make a few pesos extra a day this business works really easily. That’s the next test as I am going to help set Zoei’s yaya up so she can make some extra money for herself when at school.