How to Start A Cell Phone Repair Business on A Budget?
Budget is the first thing that comes to your mind when you plan to open a business. When you have figured out the budget, then rest is not a herculean task. A cell phone repair business is a profitable one to start as it has a multi-billion industry. You can be your own boss and say bye to your boring routine of 9 to 5. Plus, it does not require a hefty amount of investment to begin with. And using Cell Phone Repair Shop Software can save a lot more for you. In addition, this repair business is a service to the community that benefits not only you but the people around the area where you will open your brick-and-mortar store.
A cell phone repair does not require much expertise as you can hire professionals and technicians. However, having prior experience is good because you can save money and work in your shop as a technician or customer representative. So, I suggest you have some knowledge of cell phone repair and learn some basic repair jobs. This way, you can manage your expenses better after starting your business. Don’t misunderstand me; starting a cell phone repair business on a budget is pretty challenging, but it won’t be a problem if you do it the right way, for example, by using repair shop software to manage your functions.
Let’s see a step to step guideline on how you can start your cell phone repair business on a budget.
Make A Business Plan
Since you have decided to start a cell phone repair business, the first step is to plan ahead. Make a list of all the things and processes that are a part of this repair business. It includes analysis and observations of cell phone industry trends, the normal cost, size, and growth. Next, you need to select the one plan that will work according to your budget and give you the maximum outcome, including your employees’ expenses, inventory, cell phone repair shop software, etc.
Cell phone repair has three parts: repair services, accessories, and refurbishment. You need to plan beforehand how much of each you will invest in and how it will affect your revenue stream. For that, prepare a proper business plan in which you will write an executive summary of your repair business, the list of services you will provide, the prices against your services, employee planning, and your financial stream.
This plan will help you execute your business functions and also if you tend to apply for a loan or partner in the future.
Choose A Business Identity and Register Your Business
Your name is the first thing your repair business gets recognized with. Take your time and come up with an innovative and relatable name so that your business agenda is explained just by hearing the name. The name should be unique yet easy to remember. You will then display your name on your marketing platforms, stores, and Point of Sales Software which is an effective strategy.
Now time to register your business which you can do by going through the local registry or online according to your country. Also, your repair business requires technical experts, so you will need to have proper technical certifications or licenses. It is not essential, but it will leave a good impact on the customers, and they will be content with using your services.
Decide the Prices
Normally, business costs of cell phone repair include tools, repair parts, employees and accessories, repair shop software, etc., which can start at around $3000 – $6000. If you do not have your own place, then you can open it from your house’s garage to save a few dollars. Otherwise, you will have to rent a place.
The absolutely crucial thing is deciding prices. So you have to be careful with it, not too high so that customers won’t be interested or not too low so your business suffers. You can charge your customers hourly or per repair. It depends on the nature of the repair. For example, if a cell phone needs a battery change, then it simply can be charged per task, but if it has a software malfunction, it requires a lot more time, so you should charge it hourly. Hence list down your services and include prices accordingly.
Furthermore, you should have a financial plan to back up your business. It can be saving, or you can apply for loans.
Set Up An Attractive Online and Offline Presence
Nowadays, an online presence is a must. With a little investment, you can set up an online presence for yourself, including an attractive website, social media, etc. Your repair store should be in a perfect location where everyone can access it. The placement of your items should be very strategic. For instance, place your accessories near check out counter where customers can notice them while using customer-facing Point of Sales Software.
Market Your Repair Business
Lastly, to put every effort together, you need excellent marketing. It is one of the most important costs that you should never neglect when starting your cell phone repair business. A little effort can take you many miles because of marketing. Once customers start coming and are satisfied with your services, they will vouch for you and spread the word, which is free marketing.
So, starting a cell phone repair business on a budget isn’t that difficult. With the right strategies and tools like cell phone Repair Shop Software, you can have success in a little time.