Do you want to start a cell phone repair business with small investment? Find here a sample business plan checklist for starting a mobile/ cell phone repair business of your own.
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.
As per industry experts, the size of the Indian mobile manufacturing industry in FY 2019-20 is expected to be Rs 1,35,000 crore as against Rs 94,000 in FY 2016-17.
Hence, it can be easily concluded the demand for cell phone repairing service business is bound to grow in the coming days.
Here are the 10 Steps to Follow to Start a Cell Phone Repair Business from Home or StoreFront
1. Decide on 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.
Buy a Cell Phone Repair Franchise
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.
Store Front Cell Phone Repair 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.
Home Based Cell Phone Repairing Service
This is 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 the 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.
2. Learn the Skills & Get Certified
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 cell phone repair course online on platforms like Udemy.
3. Create a Cell Phone Repair Business Plan
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. Broadly, there are two options.
4. Decide What Cell Phone Repairing Services to Be Offered
Generally, a cell phone repairing company 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
5. 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.
6. Arrange Finance for Cell Phone Repair Business
Generally, cell phone repair business demands moderate capital investment. However, the amount of investment depends on the business model and business size. A storefront operation demands investment for establishing the store. Some of the basic investment areas are equipment cost, manpower cost and operation costs including administrative and promotional expenses.
7. Source Basic Cell Phone Repairing Equipment
The business demands specific arrangments of the right equipment. Some of the basic repair tools are wire cutters, small Phillips screwdrivers, flat head screwdrivers, heat gun, adhesive, Isopropyl alcohol, soldering station. You can check at Amazon for the latest price on cell phone repairing kit.
Additionally, you must have a computer with an internet connection. And definitely a working desk setup for doing the repairing jobs.
8. Hire Expert Personnel
Basically, the manpower requirement depends on the business model and the 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.
9. Business Setup
According to the specific business model, establish the workstation. If you want to operate the business from storefront location, then select the right retail space for it. You can also set up the workstation at your home and offer doorstep delivery service.
Decorate the workspace with essential furniture and equipment. Craft a name for your cell phone repairing business. Additionally, fix the pricing carefully for every sort of services. Finally, arrange the invoice raising systems. You can consider using good business accounting software to getting the day-to-day track records.
10. Promote Your Business
Regardless of 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 into making people aware of your services.
It would be great if you can create a website for your cell phone repair shop business. This will create confidence among customers but also will help you to reach a wider audience. 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.
If you average the revenue of around Rs. 250 per repair and you fix 8 devices a day, you can have a revenue of Rs. 2000 per day. So, approximately, you can make around 60,000 Rupees per month at ease.
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Editorial Staff at NextWhatBusiness is a team of Business Consultants having years of experience in small and medium scale businesses.