Business Idea - How to Open Your Own Cell Phone Store

Business Idea – How to Open Your Own Cell Phone Store

Cellular technology has transformed our way of life and the growth projections for the coming years are fantastic.

In this post I present you the business proposal for a cell phone kiosk or store. An interesting venture, simple to start, that can be opened with a moderate investment and with a high income potential.

If it has to do with smartphones, it is a business that will be profitable for the next 10 years.

Despite seeming saturated at times, this is a very profitable and constantly evolving market so if you are passionate about high technology and are familiar with brands such as Samsung, LG or iPhone, this business will surely captivate you.

Considerations for Entrepreneurship

The key to commercial kiosks has to do with having a lot of vision to find a key point in a place where there is high traffic of people and calculate the rent to pay very well.

This point of sale can be in a shopping center or a fairly busy executive area. It is especially important to analyze the profile of the client to whom you will direct your products and services.

Remember that today’s consumers, especially those looking for technology, are increasingly informed and evaluate many options before buying something.

You can make a mix of the business consisting of the sale of phones and accessories according to your investment capacity. In the case of accessories, they have the advantage that a much lower investment is required in exchange for having to have an inventory of devices for sale.

Business Assembly

Aspects to consider when planning your business:

  • Furniture and assembly of the store (or kiosk)
  • Legalization
  • Inventory and suppliers
  • Accounting and billing issues
  • Marketing and sales

The basic furniture consists of some displays and counters as well as the decoration of the point of sale.

In some cases, this furniture is rented by the shopping center itself and in others there is the possibility of negotiating that it is granted by one of the wholesale suppliers from whom you will buy product permanently, usually as a loan.

The lighting and decoration of your business is important because it takes into account that the segment of telephone customers are very attracted by the visual charm of the devices. Here the saying applies perfectly: “looks good, sells good“.

Where to start my business?

The business has four fundamental lines:

  • sale of mobile devices
  • sale of accessories
  • sale of refills
  • technical services

Electronic recharges, although they do not leave such a high commission, are very convenient to attract traffic of people to your kiosk or store. The average commission of recharges ranges between 4% and 8% that if you multiply it by a rotation of 3 per month, it is equivalent to an average profit of 10%.

The other form of income consists of the sale of prepaid or line devices. In this aspect, you should invest a good amount of capital because when a person falls in love with a cell phone, they will surely do everything possible to obtain it, and if you have it in the warehouse, you will surely have a greater chance of selling than if you do not have it.

In mobile devices, the average profit ranges between 10% and 15%.

Additionally you can sell accessories which you can get at very good prices and although they are sold at reasonable prices, they generate sales volume that can become an attractive income.

A great advantage of the cell phone store is that you will not need advertising, decoration and promotional items, since the telephone companies will be willing to make your store a highly attractive place for your customers to purchase your products, making your brand more visible.

So you just have to request it and negotiate the support for your local.

On average, the investment to start with a mobile phone and an average stock of devices is around US $ 4000 and the average monthly profitability will be between $ 1000 and $ 1500. Of course, you should consider monthly fixed expenses such as electricity, the salary of a dependent, premises and others.

Finally, regarding the know-how of the business, it is very easy to learn and manufacturers will be ready to offer you courses and training on their latest technology and devices.

The first step is for you to approach a distributor for advice on prices, systems and requirements to join and soon become a retailer. And then your imagination will be the complement to a great business.

Inventory and Suppliers

Mainly people are looking for cases, screen protectors, micro SD memories, headphones, selfie sticks, cell phone stickers,

The key to being able to sell well is to be very careful with compatibility and take into account that some accessories become obsolete very soon. Remember that there are a diversity of devices, tastes and needs.

For this reason, it is essential to always be well informed and documented on current issues in order to provide good advice, which is always an added value that clients appreciate.

Make sure to contact serious suppliers, who give you a guarantee and a good quality product.

Other readers also saw: How to generate income with Mobile Apps

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