How to Start a Phone Repair Business in Nigeria And Other Countries
According to Statista, the current number of smartphone users in the world today is 6.648 billion, and this means 83.72% of the world’s population owns a smartphone. This figure is up considerably from 2016 when there were only 3.668 billion users, 49.40% of that year’s global population. The number of mobile phone users (both smart and feature phones), is 7.26 billion, which makes 91.54% of people in the world cell phone owners. Source
From the statistics above, the number of phone users is increasing every day, which makes the phone repair business a gold mine for you to explore.
In this post, you’ll learn how to start a phone repair business in Nigeria and any other country.
Let’s jump into it.
Pros And Cons of Running a Phone Repair Business
Before you start any business, you must sit down and consider the pros and cons.
Hey, I’m not trying to plant fear in you but to help you decide if you want to start this business by knowing what lies ahead.
The goal?
To equip you and be more successful in this mobile phone repair business.
Pros
1. Lower investment
This business requires little capital to purchase a table, chair, shop lease, etc. And if you are working from home, you already have these facilities. Thus, you will be cutting down on expenditure to a great extent.
2. You are your own boss
Starting your business gives flexible working hours, unlike working for someone else. You choose to work when you feel like it because you don’t answer to anyone.
Cons
1. Lower productivity
Working on your own can lead to a lot of distractions. The atmosphere is much more relaxed which can cause you to work much less than you should actually. And in business, a slower rate of work means you earn less money.
2. Fewer customers
The number of phone repairers is much, so it is tougher for customers to access when compared to a store on the road. This results in a fewer number of customers than you would have originally preferred.
How to Start a Mobile Phone Repair Business
1. Business plan
A business plan helps you to fill in the gaps in the market where you saw it. The purpose of this plan is to solidify the vague idea floating around in your head.
Also, it helps ensure that your business model is a viable one. It can be a formal document or a short outline scribbled on paper.
Here are some of the sections to include in your business plan:
- Screwdrivers
- Soldering iron
- Soldering station
- Mobile phone repairing tool kit (these tools include soldering iron, de-soldering pump and wick, solder wire, tweezers, precision screwdrivers, and more.)
- Precision screwdrivers
- Tweezers
- Screwdriver kit
2. Learn the skills
Starting a phone repair business doesn’t require a degree. You must learn how to repair phones from experts (those already in the business).
Also, YouTube videos are resources for you to take advantage of because new phones are being pushed into the market every day.
Don’t stop learning because skill is trained over time.
3. Purchase some tools
If you’re starting a cell phone repair business from scratch, you’ll need some tools.
7 must-have tools for phone repair business
4. Find the right location
Location matters in business. Opening a phone repair business in a place where your target customers are will help grow your business.
If you stay in a busy environment, starting this business at your home is a nice idea, especially if you’re low on finance. All you have to do is bring out a table and chair in front of your house.
The great thing about working from home is you don’t have to pay for rent.
As your business grows, you have to rent a shop that’s separate from your residence. I recommend you find a place that’s convenient for customers to locate you with no hassle at all.
5. Marketing
You have rented a shop, set up all the necessary things, and next is to find a way to reach and attract customers.
Having an attractive storefront to get more customers will be great. However, if you are working from home, this won’t be possible, especially if you are living in an apartment.
You need to do more marketing to get more customers for your phone repairing business to grow.
Don’t stop marketing because marketing is the blood of any business. You can also try to do online marketing by creating content around phones and tech generally. You can run some ads if you can.
There’s offline advertising, which includes word-of-mouth marketing — that’s telling people what you’re into, you can distribute flyers in your neighborhood. Also, try to use small banners if possible.
6. Create more income streams
It’s one thing to grow a business but it’s another to create more income streams from it. Don’t just be a phone repairer think of other ways of making money while doing your business.
You have to get creative and think of other essential things that your customers will need to enjoy their phones. It can be any of the following:
7. Be persistence
Success doesn’t happen overnight. Keep at it, keep learning, and map out a plan to revolve into an academy where you teach others. But for this to happen, you have to work on your mindset first.
Next, be patient. Be firm. Believe in your skill and the business and also know it doesn’t happen in a day. So keep working and growing your network.
Conclusion
Once you have set everything up and the business is running, learn to keep records of your transactions, master this first. See your phone repair business as a brand that people are eager to work with. Learn to balance your finances before you think of employing others and increasing your services.
Frequently Asked Questions (FAQs)
What’s the downside of a phone repair business?
They include:
How much does a phone repair business make?
How much you make depends on how many phones you repair and your location plays a key role in this.
That’s why you have to diversify into selling phone accessories, which will increase your earnings.
If you’re ambitious, you can scale your business, there’s no limit to how much you can make in this business.
Is phone repair a good business?
Yes, the phone repair business is a good one. Because the number of phone users keeps increasing daily, making the business a gold mine for people with the skills to tap into.
Over to you, if you have any questions on this blog, feel free to drop them in the comments box, also we are eager to hear your contributions.
Originally published at https://myhustleinfo.com on July 14, 2022.
