There is an increase in the use of mobile phones with its accessories in this 21st century as a result of technological advancement. This technological advancement has created many business opportunities. One of such businesses is in the sale of cellular and mobile phones’ accessories such as batteries, battery chargers, mobile phone repair parts, phone jackets and cover, memory card, USB cable, modem, earpiece, charging port and many more. There are many mobile phone accessories manufacturing companies pushing their cell phone accessories into the market.
These mobile phone accessories are important components of mobile phones. The demand is very high especially in developing countries like Nigeria where an average man will prefer repairing the damaged component of his mobile phone rather buying a new mobile phone.
Mobile phones accessories business has been made a lucrative business as a result of millions of GSM users in a particular locality. For most mobile phones such a Nokia, Samsung, Sony Ericsson, Blackberry, Infinix, Gionee, Techno, and other smartphones; they repair parts and accessories are readily available in the market.
So, if you are interested in starting a mobile phone or cell phone accessories business; in this article, you will learn how to start a mobile phone accessory business in any locality. You can also free to choose to start the business with our list of 10+ mobile phone accessories. This business is highly profitable when properly set up and managed very well.
Read also: 10 most popular mobile phones in Nigeria
- 1 Step to Start Mobile Phone Accessories Business
- 2 Cost of Starting Phone Accessory Business
- 3 How Profitable is Phone Accessory Business?
Step to Start Mobile Phone Accessories Business
Find out if phone accessory business is for you
The first step towards starting a mobile phone accessories business is to find out if the phone accessory business is for you. It is true that anybody can start phone accessory business but only a few people succeed in the business. You need to be sure you have passion for this business. And again you’re knowledgeable in use and sale of mobile phone accessories.
Why people fail in this business is because they started a business, they are not passionate about. So, be sure you like the business you are about to start and you are determined to forge ahead even when the business seems not to be yielding high profit.
Study the Market
Second step is to Study the market for phone accessory business. Find out how many people that are already into the mobile phone accessory business in your locality and what they are doing. Are they competition in mobile phone accessory business around or in your locality? What do you think you can add or remove to grow the business?
One thing you have to know is that competition is a healthy factor for any successful business. So, don’t think of running away from competition but rather leverage it to grow your business customer base. Proper studying of the market for mobile phone accessories business can help you evaluate the strengths and weakness of your competitors and then, the gap you need to fill make money.
Draft a Plan
Next, draft a phone accessory business plan. It is often said that he who fails to plan, plan to fail. Your business plan is a road map to mobile phone accessories business and therefore you draft one. Drafting a business plan before starting a business has many advantages;
- With it, you can source funds
- It will help you see the end of your business from the beginning
- It will serve as a blueprint for your business
- It will help you solve a lot of problems emanating from the business.
Rent a Space
Another step is to rent a space in good location for the mobile phone accessories business. One of the major factors to be considered when starting a mobile phone accessory business is the business location. Your business location is highly crucial to the success of your business. When renting a space for your mobile phone accessories business, consider renting;
- A high traffic location.
- Close to mobile phone repair parts business dealers.
- Close to mobile phone dealers (marketers of new and fairly used phones).
- Close to other mobile phone accessories dealers.
- Near high institutions, universities and offices outside other busy areas.
Consider Registering Your Business Name
Consider registering a business name if you are to grow and expand your mobile phone accessories business. You need to register your business with the appropriate commission in your location. Registering your business will help distinguish your mobile phone accessories business from any other mobile phone accessories dealers in your location or around your locality.
Your business may be short-circuited if you fail to register. Even if you didn’t register the business at the onset may be due to your financial constraint, ensure you factor it in your budget. You can always do the registration later. But try to do that earlier because a competitor can register your business name before you know it.
Decide Where to Buy Mobile Phone Accessories
To make high profit in this business, you need to buy mobile accessories directly from manufacturers or mobile phone accessories wholesale dealers. If you are in Nigeria, you can buy from the computer village in Lagos, Alaba market in Ikeja, Jumia online, and Samsung online for Samsung mobile phones accessories.
Just as there are many mobile phones in the market, there are also many mobile phone accessories manufacturers. Scan for all of them online and offline for better result.
Launch Your Mobile Phones Accessories Business
Ready to start! Get started with the mobile phone accessories business. There are many people who wish to start this business but never started it probably because they are afraid that they will fail. One thing you should know is that a failure is only an option.
Doing business is a risk venture and only those that have gut can venture into business, it doesn’t matter the type or nature of the business. So, no need to start hesitating whether to start the business or not; make up your mind to start. When you start, you can learn on the field.
Promote Your Phone Accessory Business
Finally, promote your mobile phone accessories business. No business has ever succeeded without advertisement and promotion. So, it is important you don’t ignore this.
As a form of promotion; print fryers, posters, handbills and share to people around your business location. Design sign posts or sign boards that tell people more of your business. We’re in a digital era, so you can also create a web presence for your business by designing a website for your business.
Cost of Starting Phone Accessory Business
The capital requirement for starting mobile phone accessory business may vary slightly depending on your locality. But the sum of N500, 000 will be enough for starting the business in a small scale, however if you’re to start phone accessories in large scale, you’ll have to increase your capital to at least N1, 500, 000. The best approach is to start from small to medium scale and then watch the business grow to a large scale. However, it all depends on your financial capacity.
How Profitable is Phone Accessory Business?
Selling of cell phone accessories is a profitable business though competitive. You can be making a gain of N2000 selling a phone accessory that you bought for N2000 if you discover a strategic location with less competition and high traffics. You can build a profitable business selling cell phone accessories within a space of time.
Where can I get Mobile Phone Accessories Distributors?
If you are interested in staring mobile phone accessories business right away, you can get Mobile Phone Accessories Distributors in our list of wholesaler mobile phone accessories distributors or scan for one that is close to your locality.
Where can I buy phone accessories online?
You can buy phone accessories online from the following store:
What are the most popular cell phone accessories?
The most popular phone accessories include batteries, battery chargers, mobile phone repair parts, phone jackets and cover, memory card, USB cable, modem, earpiece, charging port and wired headphones.