More and more customers are using their smartphones to buy products and search for information online. By 2019, 67 percent of people worldwide will own a mobile phone, and this number is expected to increase over the next few years. With the growing demand for mobile technology, now is the best time to launch a business in this sector. A mobile phone startup could be a lucrative business or a side gig that will bring you extra revenue. Planning is the key. From checking the local laws to choosing a location, every detail matters.
Is There Room for Another Player in this Market?
The mobile phone market may seem oversaturated, but there is always room for another player. You just have to stand out from the crowd and come up with something better. Check out other local businesses in this niche. Look at the most successful ones to determine what they have in common. Do they sell mobile phones that are rare or hard to find? Perhaps they have an excellent location or invest a lot in advertising? What else are they offering in addition to cell phones? Visit their websites and social media pages, too. Read customer reviews to see why people choose that store. This will give you an insight into customer likes and dislikes.
What Are You Going to Sell?
Mobile phones are not your only option. Consider offering related products and accessories, such as headsets, cables, chargers and memory cards. These will bring in additional income and provide customers with everything they need in one place. Compare the most popular brands and determine which ones would be a good fit for your mobile phone startup. For example, in 2017, Huawei surpassed Apple for the first time in history. The same year, Android devices overtook Windows as the most widely used mobile operating system. These market trends can help you understand what customers expect and how to meet their ever-changing needs. Now, assess your budget. See how much you can afford to spend on rent, products, staff and marketing. Consider the cost of licenses and permits, too. Write everything down and come up with a plan for your mobile phone startup.
Where 's The Best Location?
Where you locate your mobile phone shop has a direct impact on your business growth rate and success. Ideally, select a central retail space or one in close proximity to other popular stores that are not direct competitors. Even though these locations cost more to rent, they pay off in the long run. If you don’t have the budget for a premium location, choose one close to other businesses to ensure a constant stream of customers and greater visibility.
What Licenses Do You Need?
Before you start a cellphone shop, it's necessary to obtain an electronics store license. This requirement also applies to retailers who sell audio and video equipment, tablets, computers and related products. However, if you have fewer than 30 electronic goods on display, a license is not required. To obtain a license, fill out the basic application form and then obtain a sales tax identification number. The easiest way to find your local state agency is to visit the SBA website and search by location. Find the forms you need to fill out and send them online or by mail. Additional permits may be required if you're going to offer mobile phone repairs and other services. Your business license will be ready within a few days to a few weeks depending on the size and type of business you're planning to start.
How Do You Find a Supplier?
Once you meet the legal requirements to sell mobile phones, choose a supplier. In general, the larger your order, the more money you will save. Online directories, such as MFG and ThomasNet, feature hundreds of suppliers in different niches. If you have a limited budget, consider ordering cell phones from online marketplaces like Alibaba. Just make sure the products are genuine and fully functioning.
How Do You Bring the Customers In?
Now that your store is up and running, create a marketing plan. Start with a website and social media pages, which are the least expensive. Depending on your budget, you can also invest in newspaper, TV and radio ads. Target the local media in the first few months. As your business grows, expand services across the state. This will increase brand awareness and bring in extra revenue. Think about your customers' needs. If possible, offer additional services to attract and engage potential clients. Contests, promotions and freebies are all excellent ways to secure new business and gain a competitive edge.
- Statista: Number of Mobile Phone Users Worldwide from 2015 to 2020
- Counterpointresearch: Huawei Surpasses Apple to be the Second Largest Smartphone Brand
- StatCounter: Operating System Market Share Worldwide
- NYC.gov: License Checklist for Electronics Stores
- ThomasNet: Cellular Telephones Suppliers
- Alibaba: Find Customer Electronics Suppliers
- SBA.gov: Local Assistance Regional Offices