NB: More Robust article of How to Start Mobile Phone Business can be found HERE
Mobile Phone (Cell Phone) business in Nigeria is attractive and lucrative which could be the reason why a lot of people are getting into the business. It is also quite simple to start making it possible for any individual to get up and start selling in no time. However, just as starting any other sort of business, you have to be strategic when opening a mobile phone store. Once you have proper planning, then you will start on high and move all the way efficiently.
The 4 steps are outlined below:
Step 1. Get all information you can get hold of in the business: Nothing could be more stressful than trying something you have absolutely no idea about especially when it comes to management. To run your mobile phone business efficiently, you at least need to know the essentials of the basis, so you are confident that you are up for the management task ahead of you.
You can get guidance from a person who already has a store or perhaps you can do a simple research to find out what you need to know before starting. Bear in mind, there are business registration and also tax requirements and some of these things.
Step 2. Determine how you will be getting products: You may choose to be an approved dealer, or perhaps you can go the franchise owner way. Whatever you decide to choose, you can find cell phone companies that are ready to help as well as support you to distribute the mobile phones.
Remember that the mobile phone business also means getting other relevant items such as accessories (cases, selfie stick, mass storage etc.) to offer complete services to your clients. Some cell phone companies are very supportive in that they can also assist you with hardware and software recommendations or even inventory management solutions.
Step 3. Consider capital to start the phone business: this is the part that gives lots of people a hard time. Nevertheless, you can sign up for grants or even loans provided that you are sure you can pay back before the due date. If you happen to be fortunate, you can work with phone companies that offer products without significant financial requirements.
The company can work out arrangements for you to be able to pay back in the time-frame that will be convenient for you. Consider your options and also choose the best path to obtain the money that you need to open the store.
Step 4. Choose the ideal location for the retail store: If you have what is required, you can build your store, but keep in mind that you can always rent space for your business which is sometimes a much cheaper option. When it comes to the phone business, location is everything. Despite the fact that everyone is a potential customer, young professionals and also students seem to always be on the lookout for better, more sophisticated mobile phones and so it might be smart to locate your business close to where they are.
The location also means you think about competition and also how to stand out to be successful. Shopping malls, close to private companies and also schools make the best locations for a mobile phone business. This is the reason Alaba International Market Ojo, Lagos has a huge customer base for cell phones, thousand of people trooping into the market on a daily basis because of its closeness to Lagos State University (LASU) and many other institutions. It is advisable to employ a phone technician or rent a store close a phone technician.
When all this is carried out, you can then go right ahead and dive into the market. Remember Competition is one big obstacle for every new business, so to stand out from the crowd there is a need for proper branding. READ HERE ABOUT BRANDING: THE CENTER OF COMPETITIVE ADVANTAGE- BRANDING