The mobile phone industry (aside from its manufacturing/production sector) has risen to be a multi-billion dollar business nationally. The local mobile phone business includes:
- Sales of handsets
- Sale of phone Accessories
- Repair services
These are actually separate businesses, but are in most cases combined for higher income generation.
This has created many business opportunities. One of such business opportunities is the sale of cellular and mobile phones and its accessories such as batteries, battery chargers and phone repair parts, phone jackets and cover, memory card, USB cable, modem, earpiece, etc.
Sale of Mobile Phones
In setting up a mobile phone retail business, you need to be aware of the following:
1. Mobile phone users can be categorized into two major groups:
- Light Phone users
This group of users just makes and receives calls with their phones and maybe listens to the radio or play music.
- Heavy Phone user
This group of people uses their phones for advanced activities such as entertainment, photography, browsing, marketing, etc.
2. Types of phone:
There are two main categories:
- Non-browsing phones
- Browsing phones
The non-browsing phones are the common ones you find with the unlearned people, little children etc. although quite a lot of elites and adults too use such phones mostly as backups for their browsing phones. The browsing phones also known as smartphones are used for various purposes like social media interaction, information gathering, marketing, etc.
Phone selling is a very lucrative business and with quick turnover if you know how to manage it. You can start the sale of mobile phones in one the following categories:
- Wholesaler or Sub-dealer
A dealer usually imports from outside Nigeria and sells to a wholesaler, a wholesaler sells to a retailer who then sells to the final consumer. You must decide which area of specialization that you want to specialize in; this will also depend on your startup capital.
You need a bit of experience in buying and selling as well as keeping records and knowing also the type or brand of phones you wish to buy and sell.
In starting your mobile phone business, you need to write a market survey (study the people in the environment to know the kind of phones you should stock) and a business plan (a plan of action backed by a financial plan).
You will need to consider and do the following after your market survey, write a the business plan and register your business:
- Raise Capital:
As a phone retailer, you can start your business with a minimum amount of =N=200,000 depending on the type of phone you want to start with. For startup as a wholesaler you will need a minimum of =N=5,000,000 depending on the type of phones you want to deal in.
- Rent a Store/Shop:
Get a shop that will serve as your selling point in a good location, it is important to locate your shop in an area of more human traffic.
- Stock your store and open to the public:
Get the necessary batch of goods with nice displays and open to the general public.
- Advertise/Run a promotion:
Advertise your business through all the media available to you.
- Inventory and Management.
Proper management of your phone business is necessary to get a reasonable amount of returns at the end of each month. Take note of all record of expenditures. Proper record keeping should be taken each time you buy products and sell. You will be glad you did at the end of the day.
Mobile Phone Parts and Accessories Business
Mobile phone accessories are components that enable GSM phones to work properly and also increase the life span of mobile phones.
These mobile phone accessories are important component of mobile phones. The demand is very high especially in Nigeria where the average man will rather repair the damaged component of his mobile phone than buy a new mobile phone.
Mobile phones accessories business has been made a lucrative business as a result of millions of GSM users in a particular locality. For most mobile phones such a Nokia, Samsung, Sony, Infinix, Blackberry, Techno, etc. their repair parts and accessories are readily available in the market.
The capital required to start mobile phone accessories business is not much. It will depend on the scale you want to start the business. With a =N=100, 000 or less you can start the sale of mobile phone accessories for brands like IPhone, Nokia, Infinix, Itel, Samsung, and Tecno etc.
You could rent a space and build a kiosk to display you wares, alternatively you could rent a small shop in a busy environment.
Buying your Wares
You should buy mobile phone accessories in bulk at very low prices. You can buy mobile phone accessories in bulk from the importers or from wholesalers.
Sell your products at reasonable prices to have good customer base. Take also the advantages of all opportunities to make lots of money from the sales of mobile phones; it’s accessories and related products and services.
Mobile phone business is a very lucrative venture and like all business you will succeed with patience, persistence, perseverance and hard work.