Thinking of starting a phone accessories business in Nigeria? This article intends to be a guide for you. Phone has become an essential tool or device in human existence.
Practically everyone makes use of phones for different purposes. While some persons makes use of their phone for making and answering calls, receiving and sending text messages, listening to radio or music.
Others makes use of their phone for the same reasons with more advanced purposes like; browsing, marketing, entertainment, photography, social media, online tutorials, and so on.
This is because there are different kinds of phones; non browsing phones commonly known as small phone and browsing phones (smart phones).
The non-browsing phones are phones used mainly for calls, text messages, radio and probably games. And are mostly used by older people, however they can be used as substitute for learned adults with smart or android phones.
The smart phones are commonly used for social media, marketing, entertainment, news, watching of videos, installation and use of various applications.
With the common use of any of these kinds phones, phone accessories such as batteries, earpiece, USB cords, phone packs, chargers, memory card, phone spare parts and so on are in high demand.
So starting phone accessories business is a good one. You will learn how to start up the business in your chosen location.
How To Start Phone Accessories Business In Nigeria
Here are a few points to help you in starting your business. They are;
- Check your passion for the business
It will be wrong for you to start up something you don’t like or you are not passionate about.
For you to excel in your business you have to love what you do. This will help you face any challenges you may encounter in the business.
Many people have started this business before you but only a few succeeded that is because they love what they are doing. So therefore find out if the business is for you.
Do not venture into it because others are making money from it. You have to be passionate about what you do.
- Learn the business
Sometimes we have to learn a trade before we can succeed in it. Learning the business does not mean that you cannot buy and sell accessories.
Learning the business means that there are unique business strategies we have to learn to be able to achieve wonderful sales.
Every business has a secret skill that will enable its owner excel. You have to acquire this skill. Acquire all the knowledge you need about the business, it is very necessary.
- Study the market
You need to take note of those who are already in the business before you, especially those in your locality.
Study how the business have been for them, the competition among them, how do they relate with customers, are they making profits, what are their challenges, what difference can you possibly make in your business, what are those things you need to put in place in your business to make it better.
All these and many more are what you should study about the business. One important thing to note is that you don’t have to be scared of competition.
Competition in any business setting only helps you to boost your game. It helps you create ideas or strategies to spice up your business better than your competitors.
So when you properly study the market it helps you identify the weakness and strength of your competitors and helps you device a means to beat them when you eventually start your business.
- Get a business plan
A business plan serves as a blue print in your business. It guides every step you intend to take for the success of your business. It serves as the alpha of the business.
Your business plan helps you put so many things in place such as how to source your capital, location of your business, where to buy your goods, and so on.
This will also help you manage your expenses and identify problems in the business as well as how to eliminate those problems. Business plan is like a guide to every business.
- Location of the business
The location of your business is very crucial. Your business should be located at a place where you get to meet your targeted customers.
In places like universities, near offices, high traffic locations, populated areas, marketers of fairly used phones, phone repairers. These locations are filled with customers who will always be need of your goods.
- Source of your goods
You may also have to consider where to buy your goods on wholesale. It is advisable to buy your goods directly from the manufacturers if you want to make more profits.
You can also buy from wholesale dealers on phone accessories in places like Lagos computer village, Alaba market Ikeja, or you can make your order online from Jumia online, Samsung online or check for more wholesale phone accessories dealers online.
- Rent a shop
Getting a shop is one of the most important thing to do in this business. Your shop should be in a location where your market can reach out to the expected customers. Then prepare the shop before stocking it with goods.
- Start your business
After getting and preparing your shop, the next thing to do is to stalk up your shop with your goods.
Getting customers may be difficult for you at first especially when there are traders of the same market in that area before you. What you need to is to market your business.
- Marketing your business
To market your business means to make awareness of your business. That is telling people about what you want to do or what you are doing.
Often times this is done before the business starts so that you get to your customers early before you start off.
However apart from telling people about the business verbally you can make fliers of the business.
You can also take the business online, in social media. You can create one or two account in any of the social media, Facebook is advisable.
Here you get to reach out to a number of people. You can also create a website for online transactions.
- Financial management
Make sure that you make a good account details of all the money coming in and going out of the business. This will help you trace whether you are making profit or loss.
You can also start your business without a shop if you don’t have enough capital to rent one. All you need to do is start online with e-commerce.
This means you will transacting your business through online. I hope you find this article interesting.