Do you want to start a smartphone or cell phone repair business with small investment? Find here a sample business plan checklist for starting a cell phone repair business of yours own.
First of all, let us explain what a cell phone repair business includes. Primarily, the business repairs and maintains cell phones. Some operators may also repair tablets or other electronic devices as secondary services.
Industry operators include brick-and-mortar stores that allow customers to bring in their cell phones for immediate repair. Also, some stores allow customers the pickup and dropping doorstep delivery the devices that need repairs.
Generally, this type of business offers services like repairing cell phone, smartphone, iPhone, tablet etc. In addition to that, you can offer several specific repairing services too. Some of the most popular services are
- Screen repair and replacement
- Battery repair and replacement
- Button and headphone jack repair and replacement
- Camera and sensor repair and replacement
- Other repair and replacement
Cell phone Repair Business Market Potential
We can undoubtedly say that the population of cell phone users is increasing in both the developing and developed countries. The smartphone industry has been steadily developing and growing both in market size, as well as in models and suppliers.
Smartphone shipments worldwide are projected to add up to 1.71 billion in 2020. By 2018, over a third of the world’s population is projected to own a smartphone, an estimated total of almost 2.53 billion smartphone users in the world. The cell phone repair business is a $1.8 billion dollar industry in the U.S. alone, which is growing fast with a lot of demand globally.
Therefore, the demand for repairing services is also growing globally. Hence, starting a cell phone repair business is absolutely a great and easy business to start for the entrepreneurs.
Cell Phone Repair Business Model
Actually, a business model is a make or break aspect in any startup. And initiating a business with right business models is absolutely necessary for getting the long term success in the business. Here we have mentioned three different types of prudent business models. However, you can definitely modify one as per your specific requirement.
#1. Franchise Opportunity
This is one of the safest ways of starting this business. You can find a lot of cell phone repair business franchise opportunity in your city. And if you are a beginner in this trade, you can consider this. However, you must choose the right franchise as per your investment capacity and local market demand.
#2. Store Front Operation
This is one of the most traditional and proven models of opening a cell phone repair business. This type of operation demands moderate capital investment. And definitely, the business returns more lucrative revenue than a franchise operation.
#3. Mobile Operation
This is an another great cell phone repair business model you can operate with small startup capital investment. As the name refers, you will provide the service at client’s doorstep. However, here also you must have a servicing center of your own. If you find any critical issue, then you might consider bringing the phone with you to fix the major faults.
Skill & Training For Cell Phone Repair Business
Skill is the most important aspect of this business. In starting a cell phone repair business, you must have an adequate skill to address the basic issues of fixing a damaged cell phone. Additionally, you must know the basics of the industry trends. If you don’t have at least some basic skill, then it is impossible for you starting and operating the business.
If you are already an expert and want to open this business, then you can directly jump to the next paragraph. However, if you don’t have that skill, you can consider joining the training classes. Also, you can have a complete cell phone repair course online on Udemy. You can directly buy the Udemy course from Here.
Steps for Starting Cell Phone Repair Business
Crafting a business plan is the most essential and first action step in starting this business. First of all, choose the right business model and collect information as much as you can. And finally, create a customized business plan of your own. Also, you can check Small Business Administration (SBA) the Resources section to get help about how to craft a business plan.
Broadly, there are two options. You can consider consulting an expert for creating the plan for you. Otherwise, you can create the plan by using business plan software.
Registration & Licensing
After crafting the plan, you have to register your business. Additionally, you must apply for the necessary licenses and permissions. Basically, it varies from state to state. Therefore, it is advisable to check the licensing factors with local consultants. In addition to that, you must aware of upcoming tax liabilities and compliance liabilities too.
Generally, cell phone repair business demands moderate capital investment. However, the amount of investment depends on the business model and business size. A store front operation demands investment for establishing the store. And a mobile operation (if you operate from home) eliminates the store establishment costs.
Some of the basic investment areas are equipment cost, manpower cost and operation costs including administrative and promotional expenses.
The business demands specific arrangments of the right equipment. Some of the basic repair tools are wire cutters, small Phillips screw drivers, flat head screw drivers, heat gun, adhesive, Isopropyl alcohol, soldering station.
Additionally, you must have a computer with internet connection. And definitely a working desk setup for doing the repairing jobs.
Basically, the manpower requirement depends on the business model and size of the business. And if you want to hire employees then never compromise with the quality of the personnel. Because the employees are the biggest aspect of any startup operation.
According to the specific business model, establish the work station. If you want to operate the business from store front location, then select a right retail space for it. You can also setup the work station at your home if you want to render the service on a mobile basis.
Decorate the work space with essential furniture and equipment. Craft a business name. Additionally, fix the pricing carefully for every sort of services. Finally, arrange the invoice raising systems. You can consider using a good business accounting software to getting the day-to-day track records.
Promote Your Business
Regardless your cell phone repair business model, you must promote your business. According to your target audience and investment capacity, craft a marketing plan. You must put an effort in making people aware about your services.
Create a business website. Additionally, make your business available in the local classifieds. Also, you can consult with a digital marketing company to create a digital marketing plan for your cell phone repair business.