Phone selling business is a lucrative business at the moment, because of the trends in technology and no one wants to be left behind. I was in a phone shop recently, to buy a good tablet and I couldn’t but marvel at the crowd. It was an established venture with lots of workers like the cashier, sales girls etc. The shop was stocked with lots of smartphones of different models and sizes. That wasn’t my first time being in the shop. What really marveled me was that there’s never a dull moment. It’s either customers are buying a new phone or phone accessories. Sometimes you’ve to wait forever for your turn.
This business is a profitable one if you ask me. New phone are springing up daily and demand keep rising without a decline. Although it’s capital-intensive, but it’s lucrative and can make you a millionaire if you start. You don’t need a school degree before you can start a phone selling business here in Nigeria. All you have to do is analyse your financial strength and then determine how small or big to begin. Your finance will tell if you’re to be a dealer, wholesaler or retailer.
A dealer usually import from outside Nigeria and sell to a wholesaler. A wholesaler sells to a retailer who then sell to the final consumer. In this post, let’s assume you want to start as a retailer that sells to the final consumer. This article will be a guide on how to start a phone selling business.
HOW TO START A PHONE SELLING BUSINESS
For a retailer, you’ll need at least N1Million to start this business. You might even need more depending on the brand of phone you wan to sell. However, you should start it up and grow from there. I’m a firm believer of starting small and growing to a giant. Not just the capital for the phone, also take into account the cost of acquiring a shop. Make sure you conduct a good feasibility study cause it will help the judicious use of the capital.
2. GET A LOCATION
You need a place that’s buzzing with human traffic. This helps in bringing in customers. As long as you’re on the right location, selling up your goods won’t be a hard thing. So, get a shop and furnish it to standard. Phone is tech and your shop have to depict technology.. This gives your customers the feeling that indeed, they are in a tech shop.
3. RUN A PROMOTION
Make sure that people know about your phone selling business and location. Print complimentary cards, have as many flyers and possible. You can also choose to run an advert on a location radio or television station. This is to help you create a brand and attract potential customers to your phone selling business.
4. GO ONLINE
I wrote a detailed article on how to sell your product on Jumia. Well, i got a call recently from a Jumia agent and was told that they can only only sell your product provided you’re able to bring your goods to their warehouse in Lagos. Once you register and your goods is in their warehouse, they will receive the order on your behalf and deliver. Even as you physically run your phone selling business, don’t forget to also take It online. There are other ways you can take your product online, like creating a Facebook page for it.
POTENTIAL PROFITS IN PHONE SELLING BUSINESS
The profits that lies in the business is better seen. Most of the web buy can be gotten very cheap when bought from a dealer or wholesaler.. But when selling to a retailer, the price is doubled. For example, Tecno 7C is N35,000 from a tech shop. But from a dealer, it’s N20,000. Sometimes, cheaper.
Imagine getting over N15,000 from the selling of one phone.
Phone selling business is a lucrative venture. The demand of phone is always rising and can’t go down. The more new models are produced, the more demand keep rising, even beyond the chart. If you can start this business, making millions in months time won’t be such a hard nut to crack. Phone selling business is no doubt among these business opportunities yet to be exploit.