NFC Cards: Turning Taps into Profitable Ventures
From Idea to Profit
The ideas
I was browsing my facebook feed last week and I saw an interesting business with relatively really high margin.
The business sell NFC card for google review. When the person tap on their phone the card it open automatically the google review page.
What is a NFC card ? It is a wireless card that allows short-range communication. Often used for quick payments or data transfer. It’s card that store data basically and when you approach your phone it send the data that it stored in the card. I won’t go further, just need to know the basic.
The package
The business sell 3 offer :
Currency all in Canadian Dollar.
- 3 cards for 109$ (36.33$ per card)
- 5 cards for 139$ (27.80$ per card)
- 10 cards for 209$ (20.90$ per card)
How much does those card cost ?
I went to Alibaba and I quickly found some supplier.
I chat with one that could do 0.70$ USD per card. For mininum order of 250 cards. Express Shipping is 33$ USD and the duty fees are 50$.
So the total order would be 0.70*250 + 33 + 50 = 258$ USD.
So each card cost 258/250 = 1.032 USD or 1.41$ canadian.
Just remember the business I have look sell those card for around 20$ to 36$ per card. So the profit margin is pretty high !
Calculating the total cost of production.
Doing the e-commerce website : I can code them from scratch, so let’s say it cost maximum 150$ per year. Even if you don’t know how to code you can use other e-commerce platform but they cost really high. Shopify is 50$ per month !!
- The domain name : 12–15$ CAD per year.
- The SSL : 30$ per year.
- The hosting cost : 30$ per year.
The shipping cost :
The cheapest one I found is Canada Post | in USA it would be UPS.
Canada post fast shipping is 14$ per shipment.
I found some shipping enveloppe on Amazon at a cost of 50 cents each.
So total cost for shipping would be 14.50$ CAD.
Marketing cost :
This is where it would cost the more money I think. Since those card are for B2B (business-to-business), I would probably contact them directly and go see them directly in store for demonstration. I could also use some LinkedIn automation tools that automatically contact some prospect. I would also need to pay some people to do ads and script. The branding also…
Let’s say it cost 150$ per months in marketing. 1500$ per year.
Conservative scenario : Let’s say we sell our card 25$ each.
People need to buy 3 cards minimum, so total basket is 75$. Shipping is free.
Card cost per shipment : 1.41 * 3 = 4.23$
Shipment cost : 14$ + 0.50 = 14.50$
Marketing cost per card : (1500/250) = 6 *3 = 18$
e-commerce cost per card : (150/250) * 3 = 1.80$
So When we add up everything the total cost is : 38.53$ CAD
75–38.53 = 36.47$ profit per shipment.
Bringing the NFC Card to Life
Wondering how to program the NFC card to directly open a Google review page? Follow these steps:
- Download the free NFC TOOLS app.
- Use the Google API Place ID Finder to get the business’s place ID.
- Insert the place ID into this link:
https://search.google.com/local/writereview?placeid=YOUR_PLACE_ID_HERE. - Open the NFC Tools app, copy the link generated in step 3, write it to the card, and voilà — your NFC card is set to roll!
To conclude, the potential of NFC cards in the realm of Google reviews is vast, both in terms of utility and profitability. With the right strategies and resources, this could be a promising venture for aspiring entrepreneurs.
