- Plan Your Business. A clear plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns.
- Form A Legal Entity. Establishing a legal business entity such as an LLC prevents you from being personally liable if your cell phone repair business is sued.
- Register For Taxes. You will need to register for a variety of state and federal taxes before you can open for business.
- Open A Business Bank Account & Credit Card. Using dedicated business banking and credit accounts is essential for personal asset protection. ...
- Set Up Business Accounting. Recording your various expenses and sources of income is critical to understanding the financial performance of your business.
- Obtain Necessary Permits And Licenses. Failure to acquire necessary permits and licenses can result in hefty fines, or even cause your business to be shut down.
- Get Business Insurance. Insurance is highly recommended for all business owners. If you hire employees, worker’s compensation insurance may be a legal requirement in your state.
- Define Your Brand. Your brand is what your company stands for, as well as how your business is perceived by the public.
- Establish Your Web Presence. A business website allows customers to learn more about your company and the products or services you offer.
Full Answer
How to start a refurbished cell phone business?
- If you plan to lease a location:
- It is generally the landlord’s responsibility to obtain a CO.
- Before leasing, confirm that your landlord has or can obtain a valid CO that is applicable to a cell phone repair business.
- After a major renovation, a new CO often needs to be issued. ...
- If you plan to purchase or build a location:
How to start an iPhone repair service business?
iPhone Repair Business Start-up. After you have decided that you want to start an iPhone repair business the first step is to learn the repairs. It is easiest to do this by buying a broken iPhone so that you can practice on it and not worry about breaking one of your customers phones.
How to start a mobile phone unlocking business?
- Identify where your customers are going.
- Become a member of these groups and just read for a few hours. How do they talk? What problems do they have? You’ll find some common trends.
- Start by asking questions on people’s posts.
- Don’t be afraid to make some posts asking for some feedback.
How to start an answering service business from home?
They may include:
- Incoming Message Services, both during and after normal business hours
- Complete Answering Service where customers believe they are calling the actual business office
- 800 Number Service
- Order Taking Service, where customers call in to order a specific product or service they have seen advertised
How can I grow my phone repair business?
Guide to Start and Grow Your Phone Repair Business in 2020Things you need to kick start your business.Get your first customer.Build your customer base.Hire employees for your store operations.Expand your brand.Keep growing!
How profitable is cell phone repair business?
How much profit can a cell phone repair business make? An average cell phone repair business could net profits in the range of $50-65,000, with greater earning potential, as you continue to become more well-known and successful.
Is phone repair a good side hustle?
Being a cell phone repair technician is one of the highest-earning side hustles nowadays. Cell phone repair is a huge earner, both as a side hustle and a full-time job. Most at-home Cell Phone Repair techs average $80 profit a repair, so you're looking at around $500 a week while working around your day job.
How can I make money by fixing my phone?
4:476:36How to MAKE MONEY fixing Phones- Flipping cell phones - YouTubeYouTubeStart of suggested clipEnd of suggested clipSomething make it beautiful bring it back to life for someone else to use remember reduce reuse andMoreSomething make it beautiful bring it back to life for someone else to use remember reduce reuse and recycle. Not only can you flip them and sell them to others and make a little bit of a profit.
Is refurbishing phones profitable?
You can sell refurbished phones for good prices, but you need to be able to quickly and accurately make repairs – and still turn a profit – for this strategy to work.
Can you make money flipping phones?
In a typical week, Jeff resells 20-30 used iPhones with a target profit of $100 per flip. If if you did half that volume, you could be earning $1000 a week. Flipping phones for profit can be a lucrative side hustle or grow into a full-time income stream, but, like any business, there are some pros and cons.
How much money can you make fixing iphones?
Cell phone repair income comparedJOB TITLEAVERAGE ANNUAL INCOME (rounded)Cell phone repair tech (repair & retail stores)$19,000 – $48,000Mobile cell phone repair contractor$15,000 – $45,000Independent phone repair business$20,000 – $80,000+Phone repair franchise$80,000 – $190,000+
What is Flipsy?
Flipsy.com is the leading online pricing guide that provides accurate values for books, devices, and other items based on current market trends. Flipsy is used by sellers to determine how much their items are worth and by buyers who are seeking fair prices.
How do I start a cell phone business from home?
1:079:207 Businesses You Can Start with Your PHONE - YouTubeYouTubeStart of suggested clipEnd of suggested clipThe first business that you can start with just your smartphone is a resale business you canMoreThe first business that you can start with just your smartphone is a resale business you can purchase items off of Craigslist. Or garage sales or at thrift stores.
How much does a phone store owner make?
Let's look at the numbers, depending on where you operate salaries will vary between $8 per hour and $20 per hour. A cell phone shop owner doing $150,000 yearly can expect to drop at minimum of $24,000 – that's $2,000 monthly – on salaries.
How much does a phone store owner make?
Let's look at the numbers, depending on where you operate salaries will vary between $8 per hour and $20 per hour. A cell phone shop owner doing $150,000 yearly can expect to drop at minimum of $24,000 – that's $2,000 monthly – on salaries.
How much does it cost to open cell phone store?
$25,000 to $100,000A cellphone store needs displays with proper electric and internet accessibility. Expect to use anywhere from $25,000 to $100,000 in startup capital to prepare your retail storefront. If you don't already have this, look at small business loans or other private financing options.
How much mobile repair earn in India?
Mobile Technician salary in India ranges between ₹ 0.2 Lakhs to ₹ 3.6 Lakhs with an average annual salary of ₹ 1.9 Lakhs. Salary estimates are based on 735 salaries received from Mobile Technicians.
Due to the spread of the coronavirus, is this business essential?
Yes. Based on current information across multiple states with emergency orders, this business provides essential goods and services.For more inform...
What are the costs involved in opening a cell phone repair business?
Depending on the location of your shop, most of the costs involved for the startup will be rent and utilities. Some cell phone repair shops operate...
What are the ongoing expenses for a cell phone repair business?
Other than rent and utilities, if you have a brick and mortar, most costs will be generated from buying parts and supplies for the actual repairs....
Who is the target market?
Your target market is technology consumers. To be specific, you’re gunning for the savvy tech user, who understands how a repair can save them time...
How much can you charge customers?
Repair and upgrade prices will vary, depending on the make and model of the device. An average cost for a broken screen, for instance can start aro...
How much profit can a cell phone repair business make?
An average cell phone repair business could net profits in the range of $50-65,000, with greater earning potential, as you continue to become more...
How can you make your business more profitable?
Many cell phone repair businesses expand to include repairs on all kinds of tech gadgets. Gaming systems and music production equipment may also be...
Is this Business Right For You?
Individuals possessing an attention to detail, technical proficiency, specifically regarding electronics, as well as small business acumen, will fi...
What happens during a typical day at a cell phone repair business?
Since most cell phone repair shops and businesses make the majority of their money from the repairs performed on cell phones and similar devices, t...
What are some skills and experiences that will help you build a successful cell phone repair busines...
Fortunately for entrepreneurs looking to make cell phone repair a successful business venture, there is very little overhead or start-up cost invol...
Why do businesses need a phone?
Getting a phone set up for your business is one of the best ways to help keep your personal life and business life separate and private. That’s not the only benefit; it also helps you make your business more automated, gives your business legitimacy, and makes it easier for potential customers to find and contact you.
What is a CO for a cell phone repair business?
Businesses operating out of a physical location typically require a Certificate of Occupancy (CO). A CO confirms that all building codes, zoning laws and government regulations have been met. If you plan to lease a location:
What are the best resources for entrepreneurs?
One of the greatest resources an entrepreneur can have is quality mentorship. As you start planning your business, connect with a free business resource near you to get the help you need. Having a support network in place to turn to during tough times is a major factor of success for new business owners.
Is Repairing Cell Phones a Good Business?
It’s common when starting a business to wonder whether the business idea is good or not, but it’s never a matter of good or bad. Instead, a good business idea solves a problem for others, and makes money as a result.
How Profitable is a Cell Phone Repair Business?
Profit is an equation with three main levers: sales volume, price, and expenses. The cell phone repair business requires tools like:
How much can you make Repairing Cell Phones?
How much you can make as a cell phone repair business will vary. You may be a business owner that is bold and willing to tell others about your service, and if you’re aggressive with selling your service, you’ll make much more than someone who doesn’t market and sell their service.
How to Start a Cell Phone Repair Company – Step-by-Step
Now, if you’re ready to get started growing your cell phone repair business, these are the recommended steps:
Conclusion
Starting a cell phone repair business can be a very lucrative way to make money and have location freedom. You can offer cell phone repair services virtually, and start with fairly low overhead costs. Get started with our free business planner, and begin getting clear about your goals.
What is the most important thing in the cell phone repair business?
Spare Parts . Availability of spare parts at hand is the most important thing in the cell phone repair business. You will be able to provide quick service only if spares are at hand. If parts are not available, you will not be able to fix.
What is the best phone repair software?
The best paid software for cell phone repair businesses are: RepairShopr – They have many pricing options starting from free to $299 per month. RepairQ – They have a minimum plan of $49 a month. I haven’t come across any other software which is totally free.
How to increase profits in a company?
Cut costs. One of the easiest ways to increase profits in any company is to reduce the costs that you are incurring. In the mobile phone repair business, you can reduce costs in many ways. One of them could be to get a good deal with a spare part supplier who supplies them in a timely manner at discounted prices.
Is it better to quote repair charges?
It is better to quote repair charges below your competitors’ estimation. Unfortunately, it is a challenge to keep prices lower than others while maintaining a high quality of service. Some people might question the quality of repairs if you quote a price that is too low. Moreover, it might lead to huge losses.
Is it necessary to provide a service every time?
It is not necessary that every time a service needs to be provided to the customers. You can try to partner with other companies in the same business to improve your profits. For example, you can tie-up with a company and offer free repair services to its employees. You can claim the repair charges from the company.
Can you franchise a service center?
One shop can only give you so much profit. If you decide to open more service centers with the same standards, you can double or maybe even triple these profits. If you wish to grow more and expand to multiple locations, you can franchise your business. But try to be steady while you are expanding.
Do cell phone repair businesses need automation?
If you want your business to be a professional one, automation of the entire process is necessary. There is a lot of exclusive software available for cell phone repair businesses which cover stocks of spares, repair status, profits/losses, inventory and many more. Some of them also have the option to send automated text messages to clients informing them about the progress of the handset given in for repairs.
Why You Should Consider Starting A Cell Phone Repair Business
Let’s get real for a second. While the profitability of a cell phone repair business is great (more on that in a second), the industry as a whole isn’t experiencing the same growth it used to get.
How To Start A Cell Phone Repair Business (Step By Step)
So, you’re ready to take action and build a solid side hustle for some extra income?
Cell Phone Repair Business: Executive Summary
Hopefully this guide has given you insight into creating a lucrative side hustle with low barrier to entry and high profit margins.
How to maintain parts inventory?
How to Maintain Your Parts Inventory: Label, label, label. You want to make sure that you have enough parts to keep up with the demand of your service – this is called safety stock. Depending on how much availability you have, you may want to start with 5-15 pieces of each item that you wish to repair.
Is mobile phone repair profitable?
Operating a mobile phone repair business can be very profitable. It doesn’t matter where you’re based at – whether you’re in Europe, USA or in Asia. Here’s the thing: Almost everyone uses a mobile phone repair service sometime in their lives, especially if they’re using Apple iPhones and Samsung mobile phones.
How to promote your business?
Advertise your business in online and offline directories. Advertise your business via the media, local newspapers, radios and televisions. Participate in school award shows as a way of promoting your business.
What is the most important decision to make when starting a business?
One of the most important decisions you get to make when starting your business is the legal structure you feel is best for your business. The legal structure you choose for your business determines so many things like how much you will pay in taxes, your personal liability, the amount of paperwork your business will be required to carry out, record-keeping, and your ability to finance your business; which is why it is mightily important that you seek out counsel from experts in your field about the best legal entity for your business.
What is a cell phone?
A cell phone is a mobile gadget that has upped the ante in the field of technology and therefore it is a field that has brought about much competition to both entrants and established businesses. To run this kind of business successfully, you would need to remain proactive as regards the carriers that you sell to the customers. Ensure that your company carries only the best,
Why do customers love a business?
Customers love the business that pays attention to their every need. They also love a business that keeps and stays in touch with them, especially as larger companies due to the huge amount of customers they have rarely keep in touch, there by losing some customers , which is why you as a competitor can choose to increase your customer retention by staying in touch before, during and after sales.
Is there a niche in cell phone business?
There are clearly a lot of niches in the cell phone business industry, even though there are clearly services or areas of specializations that cannot be differentiated, due to its uniformity of services. The key to thriving in this kind of industry is in offering a specific niche that will enable your company stay in business irrespective of the size or scale of your business.
Do you need equipment for a cell phone business?
Hire Employees for your Technical and Manpower Needs. If you are operating a cell phone retail business, then you really do not need equipment in carrying out your business. However, most of what will be used in your cell phone business can be purchased second hand except for the phones themselves.
