Today is a great time to open a cellphone business. The cellphone industry is growing as more Americans and people in other countries are choosing to go wireless. Smartphones now allow users to browse the internet, play games, share photos, send emails, connect to social networking, locate places with GPS, listen to music and more.
The growth of cell phone industry is expected to increase as phones become cheaper and more efficient, allowing people to multi task and therefore conduct more of their professional and personal business on their cell phones.
Two-thirds of the United States population that already own cell phones will soon need:
• Replacement phone when their device breaks
• An upgrade to a new improved model
• Cell phone accessories
• Assistance with their cell phone or cell phone plan to purchase new plans or switch current plan
Pros and cons
As said above, a cell phone industry is a growing industry. The best part is that you can conduct business online as more people shop online nowadays than ever.
Unfortunately, there are certain disadvantages associated with a cellphone business as well. There is not only high competition but the retail startup costs and rent can be expensive.
Find your customers
By doing the market research, you can find out where a new cell phone business in your area is most needed. Writing your business plan will help you calculate how much money you can expect to make from your cell phone business.
The internet also provides an excellent opportunity to start a cell phone business online if you can’t afford, or choose not to operate a retail storefront. Many people establish their cell phone business online and then expand later when a customer base has been established in a certain area.
One option you have as you start your cell phone business is to become an authorized dealer with an established cell phone company. Should you chose this route, the cell phone company will help connect you with distributors of your products.
Selling phones and plans is not the only way to go. While the large cell phone companies are investing in research, technology, and infrastructure to grow their business, the opportunity to grow your cell phone business can still be found in niche markets such as:
• Mobile Marketing
• Mobile Phone Apps
• Mobile Web Design
• Location Based Services
With the growing fad of fashionable phone accessories, and the age of cell phone users dropping, it is easy to see how profitable just one of these niche markets could become. If you are opening a brick and mortar storefront or kiosk, you will need capital for inventory such as phones, headsets, chargers, skins, ear pieces, and etc. Not so with an internet cell phone business.