6 SIMPLE STEPS FOR GETTING INTO THE MOBILE PHONE RETAIL BUSINESS

6 SIMPLE STEPS FOR GETTING INTO THE MOBILE PHONE RETAIL BUSINESS

Everyday people buy new phones, add to the one(s) they have or change their phones or swap their phones for new ones.

Companies buy phones for their staff, parents get phones for their kids, the list goes on. The demand for mobile phones is on the rise, which makes mobile phone retail a lucrative business and you can confirm this from discussions on Collected.Reviews where different mobile phone enthusiasts talk about smartphones.

If you will like to venture into the mobile retail business, here are 6 steps to getting started.

1.     Have a Business Plan:

Before starting the mobile phone retail business, draw out a plan detailing each step you want to climb as you ascend the ladder of success. You need to have a defined insight into your expectations from the business. Set goals for the business and make feasible plans to achieve these goals. Remember to study your target customers and also factor them into your plan.

2.     Get a Supplier:

After mapping out your plan, you need to get a reliable supplier. Someone always available to deliver mobile phones and accessories when you need them. Not only that, someone who has a good reputation and does not supply substandard products. Make sure your supplier’s rate is reasonable so you can make a decent profit from each sale. Getting all these qualities will require excellent negotiation skills, so make sure you have that or get someone who has when you are meeting with your prospective supplier.

3.     Get Capital:

You have a supplier and the both of you have reached an agreement, the next thing is to show your seriousness. How? By showing that you have money to buy the products that you have discussed with the supplier. If you have enough savings, you can use that to pay for your first order. However, if you do not have savings, you can apply for a loan from a financial or government institution.

4.     Process a License:

You need to get your business registered before you begin operation. Your license will allow you to partner with large companies and also to pay your taxes as a patriotic citizen. You can register to be an LLC, a sole proprietorship, or partner with an individual or business.

5.     Advertise yourBusiness:

There are two major ways that you can advertise your business – online and offline – every other marketing strategy comes under that. The internet is more preferable because we are in a technology age and the prospects are unlimited on the internet. However, if you prefer to market offline; billboards, person-to-person discussion, flyers, etc, it means you are only reaching a certain audience. It’s left for you to choose.

6.     Ask for Feedback and Referral:

At this stage, sales have begun but the people still have a hard time trusting your brand. Ask customers to give honest reviews about your service and how they suggest that you improve. You can do this by leaving a suggestion form or a suggestion box so they don’t feel shy talking to you. Also, encourage them to refer someone if they enjoyed your service.

Growing your mobile phone retail business is not hard if you offer quality service because your work will speak for you. Endeavor to maintain a high standard of operation and you will seamlessly get a high influx of customers.