As per a recent study, one cell phone breaks in every two seconds around the globe. Given the population and the increasing number of smartphones, that is a serious problem. With very few experts know how to fix cell phones, especially smartphones, the repairing industry is not able to meet the growing demand.
The cell phone repairing till date remains one of the most profitable small-scale technology-based businesses. While many people wish to join the sprawling business, most of them don’t know how to start. Here’s a complete step by step guide on how you can start a successful cell phone repairing business.
Here are the 10 Steps to Follow to Start a Cell Phone Repairing Business at Home
1. Learn About Cell Phone Repairing Basics
Smartphone repairing business is very different than any other business model. If you are someone who doesn’t know anything about smartphone repairing, first you need to learn. It’s better to join a school or working at some other smartphone repairing facility will help you to learn the required skills. You can even hire a few professionals to start your own business, but it’s better to learn the basics.
2. Choosing A Business Model for Cell Phone Repairing Business
Generally, there are two options, either you can start as a storefront or you can offer only mobile repair services. While many people wish to sell mobiles and offer repair services at the same time, offering only repairing services will push you into a single domain. The profit margins are generally low in repairs but it’s better to start with a single focus in the early stage. You can grow your business at any time in the future.
3. Buy Tools for Your Mobile Repairing Business
The best part of a smartphone repairing business is its low capital cost. It’s up to you want you to start with, either screen repairs, or hardware parts or part replacements. You can upgrade your inventory according to your needs. While to start with, you will have to invest in a few tools and machinery, which may cost somewhere between $150 to $600.
4. Business Plan For Smartphone Repairing Business
Preparing a business plan will help you to have a clear set of goals. Supposedly you plan to start with repairs only and wish to expand to smartphone sales in a year or two. It’s necessary to have a proper business plan. This will help you to make better decisions for your smartphone repairing business.
5. Choosing The Location
The location will typically base on your business model. It is indeed a fact, operating from a storefront will ensure higher visibility. However, if you are starting with a tight budget, You can start at home and offer at-home services. Register yourself on different online portals where people around your area can book a service. You can also offer to pick up and home delivery service for better customer services.
6. Choosing What To Repair
Smartphones are of a variety of types. With so many brands available, there are different parts and subparts for different brands. iPhones as easy to repair, so you can start with fixing and minimal parts and tools. You can slowly expand to other brands as you gain experience. To start with, you can offer screen replacements, hardware repairs, part repairs, and system upgrades.
7. Inventory Management
As a repair business, you will have to keep enough parts to keep up with the demand. Smartphone repairing service requires the availability of multiple parts. Depending on the supply and the orders you receive, you can keep the parts with you. Do not overstock your items. It’s better to keep 5-20 pieces of each of the items your repair on a daily basis and there’s a demand for such repairs.
8. Legality Of Smartphone Repairing Business
There’s no proper legal work involved. But if you are starting a shop, if not from home, you will have to follow the standard procedure with a government ID to file for taxes. This is a service you are offering, so there will be an added tax involved, which will vary from country to country. As of now, there’s no need for any special license or permit to start a smartphone repairing business in most places around the world.
9. Regular Technology Upgrade
This is an ever-evolving industry. The technology is getting better every day, and you as a service provider will have to keep upgrading yourself. You can always choose a specific niche to work on. Select your own category, and offer services related to it. But keeping yourself upgraded with the latest technicalities is very important in the smartphone repairing business.
10. Promoting Cell phone Repairing Business
Once you start your business, now it’s time to put the word out. You will have to promote your business and let people know about your services. Today almost everyone uses a smartphone, so you have a potential market all around you. Start with flyers and placards at different local community events and nearby stores. The best place to promote your business is at or around smartphone shops and tech centers.
The business involves huge profits with flexible working hours. With one of the highest returns in a business, starting a cell phone repairing business is easy and highly profitable.