The business doesn’t require any special skills. Because of this, it is one of the easiest to engage in. Today in my home both rich and poor uses phone.
The business is seen rising very fast. Here are a few things that you must do to start the phone accessories business:
Feasibility study and business plan
Many entrepreneurs need a feasibility study and business plan. If you are going to succeed in any business, you cannot do without both.
A feasibility study introduces you to the industry. It tells you who your prospective clients are, what they like, and how to reach them. Your study also tells you who your competitors are and what they are doing. Finally, it gives a clear indication of how much capital you need and how to publicize your business.
A business plan is the product of a detailed feasibility study. It acts as the map of your business and also helps to attract investors and raise funding. With both, you set a proper foundation for your phone accessories business.
Mobile phones entered the market in 1990s. Between then and now, we have seen a meteoric rise in the number of smartphone users in the world. Today, more than 900 million people have access to mobile phones worldwide. What this means is that there is a huge market for the phone accessories business in the world.
Take a look at your immediate environment. Can you estimate how many people you have on your street or in your locality? That is your potential market. Most of the individuals that you see daily have mobile phones. It means that soon, they will need a new phone charger, earpiece, phone battery, etc. If you start a phone accessories business in your environment, you can become their accessories plug.
How to setup the business
Getting a shop is advisable but it isn’t mandatory. Some individuals prefer to begin this business by selling online or having a mobile shop. Whichever method you adopt becomes your shop. You must decide how you want to start this business and where you want to sell from.
If you are going to use a physical store then it must be situated in a location with high human traffic. Also, it must be accessible to your potential customers and be away from hoodlums and potential security threats. The safer potential customers feel at your shop, the easier it is for them to patronize your business.
Find reliable suppliers
The phone accessories business deals with commodities. Since you are not the manufacturer of these commodities, you must seek out reliable suppliers. You should find a couple of them while doing your feasibility study. A reliable supplier sends you goods on time and can give credit facility when the need arises.
Publicize your business
The phone accessories business is highly profitable. However, you must play your part by telling others about your new business. There are several ways to announce your business including using banners, social media, word-of-mouth, etc. The more publicity that you do, the easier it is for your business to grow.
What do you sell?
You are probably wondering what will you be selling if you start a phone accessories business. The answer to your question is pretty simple, you’d be selling phone accessories. See the below accessories list to sell:
- Wireless and corded chargers
- Wireless and corded earphones
- Memory cards
- Power banks
- Bluetooth speakers
- OTG flash drive
- Pouch
- Screen guard
- Table phone holder
- Car phone holder
- Solar charger
- Headset (corded and Bluetooth)
- Fitness trackers
- Smart wristwatches
