These days everyone has a mobile phone on them. About 3 decades ago, no one could think about the world as it is now. Communication has become so easy with high functioning smart phones becoming available at such low prices. With the boom in the mobile industry, many opportunities rose for sectors linked with it. One of those is the business for repairing these mobile phones. A phone repair business can be more profitable than you can imagine.
So if you are looking to start your own phone repair business then this guide can help you do just that.
Let’s take a look at step by step guide on how to start a phone repair store.
Have a Business Plan
No business can survive if there isn’t a strong business plan in place. Make sure you have a details business plan that outlines all aspect of the business. Many people fail because they do not design a good or detailed business plan. Your business plan should touch all departments of the business. In addition to that, the plan should be realistic and based on statistics and surveys.
Know the Costs Involved (Both Startup and Running Cost)
When you are thinking about starting a phone repair store then you should also know the costs associated with it. And when we say costs, we mean both startup and operating/running cost. This is a very important step and should never be overlooked otherwise your business will start bleeding money and you will be out of business in no time.
Know the Market
This is true for all businesses including a phone repair store. If you are looking to enter the phone repair business, then you should first study the market. Know who your customers are, what products usually come in shops for repair and gain other similar information through surveys and market visits.
Have the Right Business Name
You might think of this as an easy step but naming your business right is very crucial. Having a creative business name can help create a positive brand image. Sometimes the wrong business name can be the cause of business failure. So try to put in effort and come up with a creative name that people can get behind. This shouldn’t be something that is casual or something that you like, instead it should be thoroughly discussed in your initial meetings and focus groups.
Choose Location Wisely
Your business location is also very important. The location you choose can be the reason for your business’s failure or survival. Try to choose a location where there isn’t any strong competition. This will help your business when you are just starting out and you don’t have a strong brand name. However you should avoid choosing a location that is in a remote or residential area. Choose a popular market so people know where to look for when they want to get their phones repaired.
Diversify Your Services
Don’t just provide repair services for one brand, instead try to diversify your services. Offer services related to different brands and different products. You can even include tablets and landlines phones in addition to providing phone repair services for mobile phones.