The cell phone repair business is a billion-dollar growing industry around the globe. With an increasing number of cell phones, the industry shows a bright future for all the young entrepreneurs out there looking to start this business.
But before you begin, get some knowledge on how to set up a phone repair business from scratch and make it worthwhile. This post will help you know the entire process required to launch your business.
Table of Contents
Cost Estimation
Estimate a cost for starting your repair business with the help of Cell Phone Repair Business Software. It will also include the location of your store, as in the beginning, it will be difficult for you to buy a place of your own. According to step by step business, one would probably need between $2,400 – $6,700 to start a cell phone repair business.
Starting a business without proper planning and cost estimation will not be more than a disaster. Go around in the market and get reviews from people already in this business. This way, you can better understand how much capital you should invest.
So you’re on a diet, but you have no idea how many ounces are in a pound. No problem! You can find out all of this and more with this infographic that breaks down the weight conversions by nationality.
Location
Its location matters a lot for any retail and repair business to grow. You cannot start this business by opening a shop anywhere in the neighborhood. Instead, research for at least a month and pick the most suitable location that suits your business.
In addition, try to set your store in the market where several mobile phone sellers already surround you. This way, you will be able to attract more customers.
Choose your Target Audience
Whether retail, repair, wholesale, or manufacturing, every business has an audience it targets. So, before you invest in the repair business, identify your target audience.
We recommend you not to be specific only to the ones looking to repair their phones but also to the potential customers who love to customize their electronic devices.
Get Hands-On Experience
If you’ve decided to start the repair business, don’t just sit around and wait for things to go in your favor. You need to get hands-on experience, too, even if you are planning to hire technicians to do the repair jobs.
Try to learn the best skills and tactics for repairing cell phone devices for at least three months. This way, you will identify and fulfill your customer’s requirements in a better way. In addition, you can take a little help from the technology, such as POS System for Repair Business, as it will help you streamline the business.
Marketing
No business can grow without effective marketing. It will help if you find ways to attract more customers to your store. You can do this using several online methods, one of which is digital marketing. Make sure that your website is on the first page of a search engine so that your store is on the front page whenever a cell phone user searches a repair store near their residence.
You can also get help from your competitors and people involved in this business. Then adopt the method that suits you to get more revenue.
Get the Required Tools
Buy every possible tool required in a cell phone repair store. Following are some of the essential tools you need to buy before starting your repair business.
- Screwdrivers
- Tweezers
- Soldering Iron,
- Soldering Station
- Nylon Spudger
- Plastic Triangle Opening Tool
- Precision Knife Set
- Suction Cup Pliers
- Magnifying Glass
All these tools mentioned above are your must-have devices in your shop. In addition, you can use protective gloves, scissors, a first-aid kit, etc.
Manage your Inventory
As a repair store owner, you must keep a track record of your inventory and have all the accessories needed to fix a specific mobile phone. However, you don’t need to overstock the inventory as that is not required. Instead, try to keep the repair parts of the new cell phones popular in the market.
On the other hand, if a customer who is still using an old generation device comes to your shop, you can order its accessories too, but it’s not necessary all the time. Try to keep a minimum of 3 parts of every cell phone in the case. You can manage your inventory efficiently using Software for Repair Shop.
Register your Repair Store
After identifying all the requirements, budget constraints, and store location, register your business, as, without it, you may have to go to jail.
Laws are very strict in the US, Australia, and UAE, and running an unregistered business is considered a crime that can result in heavy penalties or even jail.
Fulfill all the legal formalities involved and enjoy being an entrepreneur. Also, don’t forget to pay your tax returns to avoid restrictions and defamation.
What are the Possible Challenges involved in a Repair Business?
Although there’s a huge scope for the repair business, you can make tons of money. Yet, there are some challenges you might face.
- Lack of sufficient funds
- Legalities involved in this business
- Not having the right technicians
- Unsatisfied customers
Final Words
Owing a cell phone repair store is one of the businesses that have great potential. If managed properly, it can make you rich within months. So, if you plan to start one, follow the above mentioned points, stay positive, and fulfill your dreams.