BlogLines.com
How to Choose a Phone Plan for Your Business
Every company needs an effective phone plan for their business. It’s important for all your employees to be able to communicate with each other. You also need to ensure that you can take phone calls from clients when they need to reach you. There are many office, VoIP and cell plans available, and your choice depends on what’s best for you. Here’s how to choose the best phone plan for your business.
The Types of Business Plan
If you’re looking for the perfect business phone plan, you need to think about which will benefit your organization most. There are loads to choose from and each have their advantages and disadvantages. It’s essential for businesses to have the best communications systems, because without this you’ll lose potential customers. Many people choose systems based on their convenience, but also look at how effective they are, the costs and if the system is up to date.
With so many options, businesses rarely know where to start. However, your primary goals will enable you to find the best phone plan for your business. Do you have a large team and need a strong internal communications system? Is saving money your primary goal? Here are some business phone plans, and their benefits.
Voice Over Internet Protocol (VoIP)
VoIP is taking over the business world, and many companies are ditching their landline service for the internet-based phone solutions. While making international calls on landlines is expensive, VoIP enables you to call anywhere in the world for no extra cost. Phone calls take place over the internet, and you can reach your employees wherever they are.
There are many VoIP solutions, including basic packages, options for mid-sized businesses and high-end solutions. It’s important to think about which solution is best for your business and avoid any hidden costs associated with high-end solutions. VoIP is great for companies and there is a range of technological benefits you won’t find with other providers. Search online to find the best VoIP providers.
Private Branch Exchange (PBX)
PBX uses hardware to route all calls through the office to and from a central connection. It connects all employees and enables easy transfers. PBX has many benefits, including its cost-effective solutions. Employees can make internal calls without the needs of connecting to an external network. This means that businesses can save money on phone calls, which is especially useful for small companies.
There are automatic capabilities, meaning PBX systems can automatically route calls. Basically, PBX offers an all-in-one solution, but it isn’t as technologically convenient as VoIP solutions. It depends on your needs, but remember PBX systems are best if you use over 12 phone lines. Smaller businesses might find that installing and maintaining a PBX system is too expensive.
Small Businesses
Small businesses have one thing on their mind; money. They need to find cost-effective solutions to grow their business, but not bankrupt them. Most small companies use manual key-systems to route phone calls. As you add more lines, you’ll find a manual system less convenient and harder to manage.
Key systems are great when businesses are starting out, but if your business is growing then it’s best to choose between a PBX or VoIP solution. There are many positives to manual key systems, and providers are combining technology with the systems to make them better for small business owners to maximize their internal and external communications.
Is the price right? That’s what you should be considering. Many phone providers will offer comprehensive packages for both office and cell use. Combining these will save you money in the long-term and enable you to streamline your communication procedure. The more technology you want, the higher the price. You should weigh up the benefits of cost and convenience when making your decision.
Speak to providers and ask them what bundles they offer. You’ll want to supply your employees with cell phones if they travel out of the office regularly. Choosing a phone system doesn’t have to be complicated if you know what you’re looking for and consider your price limits.
MORE FROM BLOGLINES
ZenBusinessPlans
Home » Sample Business Plans » Wholesale & Retail
How to Write a Cell Phone Accessories Store Business Plan [Sample Template]
Do you want to start a cell phone store and need to write a plan? If YES, here is a sample cell phone accessories business plan template & feasibility report. In as much as people still make use of cell phones, the demand for cell phone accessories will continue to rise. Cell phone accessories store business is indeed a profitable business because the replacement of damaged or worn-out cell phone parts and accessories is compulsory to extend the lifespan of cell phones.
Table of Content
Why Start a Cell Phone Accessories Store?
1. industry overview, 3. our products and services, 4. our mission and vision statement, 5. job roles and responsibilities, 6. swot analysis, 8. our target market, our competitive advantage, 9. sales and marketing strategy, 10. sales forecast, 11. publicity and advertising strategy, 12. our pricing strategy, 14. sustainability and expansion strategy.
If you are looking for a business to start as an entrepreneur and you know you have an interest in the technology cum cell phone industry, then you should consider starting your own cell phone accessories business. Although you don’t need a college degree to establish this business, but you need some form of informal training, you might have to work as an apprentice with someone who owns a cell phone accessories store.
It is important to point out that cell phone accessories store business can’t go out of fashion because of the role it plays in the cell phone industry. Depending on the scale you want to start, the startup capital for this type of business can be considered to range from small to moderate.
As a matter of fact, you can start your own cell phone accessories store from a mobile store and then grow it big within a short period of time by re-investing your profits back to the business.
If you are sure this type of business is what you want to do after you must have conducted your feasibility studies and market research, then the next step to follow is to write a good business plan; a detailed blue print of how you intend raising your seed capital, setting up the business, managing the flow of the business, sorting out tax and marketing your services.
Below is a sample cell phone accessories store business plan template that will help you write yours without much stress.
A Sample Cell Phone Accessories Store Business Plan Template
Cell phone accessories include any hardware that is not integral to the operation of a mobile smartphone as designed by the manufacturer. Cell phone accessories stores is a subset of the Smartphones industry and operators in this industry retail smartphones and accessories through traditional brick-and-mortar outlets, online websites and by mail order.
IBISWorld projected that over the five years to 2022, the Retail Market for Smartphones industry is anticipated to benefit from the growing demand for smartphones and increasing percentage of services conducted online. As per capita disposable income increased, consumers have increasingly purchased discretionary items. Smartphones are considered particularly discretionary because they are at the higher-end of the cellphone market.
Furthermore, the industry has benefited from a rise in the popularity of products spanning a wide range of price points. This industry benefits from constantly improving technology, which benefits operators in two different ways. As technology improves, the efficiency of manufacturing certain smartphones rises and the cost typically falls.
Going forward, the Retail Market for the Smartphones industry is anticipated to continue to benefit from growing disposable income and increasing demand for smartphones, specifically those at the higher end of the market. Per capita disposable income is anticipated to increase at an annualized rate going forward.
During this time, consumers are anticipated to upgrade and purchase new smartphones as they are less wary about spending money on discretionary purchases. Industry growth is anticipated to slow down as the smartphone market becomes saturated, however as it becomes a consumer stable, industry operators will likely improvise to stay afloat.
Statistics has it that in the united states of America alone, there are about 40,558 registered and licensed smartphones retail stores scattered all across the United States responsible for directly employing about 467,650 people and the industry rakes in a whooping sum of $86 billion annually.
The industry is projected to grow at 10.1 percent annual growth within 2015 and 2022. It is important to state that Apple Inc., Verizon Wireless, AT&T Inc. and Best Buy Co. Inc. have the largest chunk of the available market share in the industry.
A close observation of the Retail Market for the Smartphones industry shows that the industry has low barriers to entry. In the United States, the industry is subject to few restrictive regulations, and industry employees typically do not need to be trained formally to be able to carry out their duties.
The tough part as it relates to start-up costs is the supply of cell phone accessories from wholesalers or directly from manufacturing companies, because cell phone accessories store business cannot be started without sourcing products for sale. Regardless of low barriers to entry, the competitive nature of the industry makes it very difficult for new operators to break even within a short period of time in the industry.
2. Executive Summary
John Lyon® Cell Phone Accessories Stores, Inc. is a registered cell phone accessories store that will be located in one of the busiest streets in Harrington – Delaware. We have been able to lease a standard store facility in a technology hub in the city and the store is located in a corner piece property along a major road close to one of the largest residential estates in Harrington – Delaware.
John Lyon® Cell Phone Accessories Stores, Inc. will retail Cases, which are designed to attach to, support, or otherwise hold a smartphone, mass storage component (SD card, SD card slot and special USB micro-B flash drive), chargers and external batteries, selfie sticks, smartphone tripod mount and micro-USB to HDMI cables that are used in smartphones with MHL et al from different manufacturers (brands) from the United States and abroad.
We are aware that there are several cell phone accessories store outlets all around Harrington – Delaware, which is why we spent time and resources to conduct a thorough feasibility studies and market survey so as to be well positioned to favorably compete with all our competitors.
We have an online – service option for our customers, and our outlet is has various payment options. We will ensure that we get our customers involved in the selection products (brands) that will be in our store and also when making some business decisions that directly affect them.
John Lyon® Cell Phone Accessories Stores, Inc. will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible. We will ensure that we hold ourselves accountable to the highest standards by meeting our customers’ needs precisely and completely whenever they patronize our products.
John Lyon® Cell Phone Accessories Stores, Inc. is owned by John Lyon. John Lyon has a Diploma in Computer Technology, with over 5 years’ experience in the retailing industry, working for some of the leading brands in the United States. Although the business is launching out with just one outlet in Harrington – Delaware, but they have a long term plan to open other outlets around major cities in the United States and Canada via franchising.
John Lyon® Cell Phone Accessories Stores, Inc. is in the retail market for the Smartphones to service a wide range of clients and of course to make profits, which is why we will make available a wide range of cell phone accessories from top manufacturing brands in the United States and other countries of the world.
Our product offerings are listed below;
- Phone Cases (Pouches and sleeves, Holsters, Shells, Skins, Fitted cases, Bumpers, Flip cases and wallets, Screen protection and body films, Drop and shock protection and Leather case)
- Mass storage component (SD card, SD card slot and special USB micro-B flash drive)
- Chargers and external batteries,
- Selfie sticks, smartphone tripod mount
- Micro-USB to HDMI cables used in smartphones with MHL
- Our vision is to become one of the leading brands in the smartphones retail market in Delaware and to establish a one stop cell phone accessories store in Harrington – Delaware and in other key cities in the United States of America.
- Our mission is to establish a world – class cell phone accessories store that will make available a wide range of cell phone accessories from top manufacturing brands at affordable prices to residents of Harrington – Delaware.
Our Business Structure
Our intention of starting a cell phone accessories store business is to build a standard store outlet in Harrington – Delaware. Although our cell phone accessories store might initially not be as big as some of the biggest in the industry, but we will ensure that we put the right structures in place that will support the kind of growth that we have in mind while setting up the business.
We will ensure that we hire people that are qualified, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders.
As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of ten years or more. In view of that, we have decided to hire qualified and competent hands to occupy the following positions;
- Chief Executive Officer (Owner)
- Store Manager
- Human Resources and Admin Manager
Merchandize Manager
Sales and Marketing Manager
Information Technologist
- Accountants/Cashiers
- Sales Agents/Customer Services Executive
Chief Executive Officer – CEO:
- Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results
- Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for fixing prices and signing business deals
- Responsible for providing direction for the business
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
- Reports to the board
Admin and HR Manager
- Responsible for overseeing the smooth running of HR and administrative tasks for the organization
- Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
- Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
- Defining job positions for recruitment and managing interviewing process
- Carrying out induction for new team members
- Responsible for training, evaluation and assessment of employees
- Responsible for arranging travel, meetings and appointments
- Oversee the smooth running of the daily office cum business activities.
Store Manager:
- Responsible for managing the daily activities in the store
- Ensures that proper records of cell phone accessories are kept and the warehouse does not run out of products
- Ensure that the store facility is in tip top shape and goods are properly arranged and easy to locate
- Control cell phone accessories distribution and supply chain inventory
- Manage vendor relations, market visits, and the ongoing education and development of the organizations’ buying teams
- Help to ensure consistent quality of Cases, mass storage component (SD card, SD card slot and special USB micro-B flash drive), chargers and external batteries, selfie sticks, smartphone tripod mount and micro-USB to HDMI cables are purchased and retailed in good price that will ensure we make good profit
- Responsible for planning sales, monitoring inventory, selecting the merchandise, and writing and pricing orders to vendors
- Manage external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
- Model demographic information and analyze the volumes of transactional data generated by customer purchases
- Identify, prioritize, and reach out to new partners, and business opportunities et al
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Document all customer contact and information
- Represent the company in strategic meetings
- Help increase sales and growth for the company
- Manage the organization website
- Handles ecommerce aspect of the business
- Responsible for installing and maintenance of computer software and hardware for the organization
- Manage logistics and supply chain software, Web servers, e-commerce software and POS (point of sale) systems
- Manage the organization’s CCTV
- Handles any other technological and IT related duties.
Accountant/Cashier:
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Provides managements with financial analyses, development budgets, and accounting reports
- Responsible for financial forecasting and risks analysis.
- Performs cash management, general ledger accounting, and financial reporting
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensuring compliance with taxation legislation
- Handles all financial transactions for the organization
- Serves as internal auditor for the organization
Client Service Executive
- Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
- Through interaction with customers on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Manages administrative duties assigned by the human resources and admin manager in an effective and timely manner
- Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to customers when they make enquiries
- Find out the customer’s needs, recommend, select and help locate the right merchandise, describe a product’s features and benefits.
- Make suggestions and encourage purchase of products
- Provide information about warranties, manufacturing specifications, care and maintenance of merchandise and delivery options
- Bag or package purchases and gift wrap merchandise
- Responsible for cleaning all the cell phone accessories and the store facility at all times
- Ensure that toiletries and supplies don’t run out of stock
- Handle any other duty as assigned by the store manager.
Our intention of starting just one outlet of our cell phone accessories store in Harrington – Delaware is to test run the business for a period of 2 to 5 years to know if we will invest more money, expand the business and then open other outlets in Delaware and key cities in the United States.
We are quite aware that there are several cell phone accessories stores all over Harrington and even in the same location where we intend locating ours, which is why we are following the due process of establishing a business.
We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be equipped to confront our threats.
John Lyon® Cell Phone Accessories Stores, Inc. employed the services of an expert HR and Business Analyst with bias in retailing to help us conduct a thorough SWOT analysis and to help us create a Business model that will help us achieve our business goals and objectives.
This is the summary of the SWOT analysis that was conducted for John Lyon® Cell Phone Accessories Stores, Inc.;
Our location, the business model we will be operating on, varieties of payment options, wide range of cell phone accessories from different manufacturing brands and our excellent customer service culture will definitely count as a strong strength for John Lyon® Cell Phone Accessories Stores, Inc. So also, our team of highly qualify staff members is also a plus for us.
A major weakness that may count against us is the fact that we are a new cell phone accessories store outlet in Harrington – Delaware and we don’t have the financial capacity to compete with multi – million dollar outlets when it comes to retailing at a rock bottom prices.
- Opportunities:
The fact that we are going to be operating our cell phone accessories store in a corner piece property along a major road close to one of the largest residential estates in Harrington – Delaware provides us with unlimited opportunities to sell our accessories to a large number of people.
We have been able to conduct thorough feasibility studies and market survey and we know what our clients will be looking for when they visit our outlet; we are well positioned to take on the opportunities that will come our way.
Just like any other business, one of the major threats that we are likely going to face is economic downturn. It is a fact that economic downturn affects purchasing/spending power. Another threat that may likely confront us is the arrival of a new cell phone accessories outlet in same location where ours is located. So also, unfavorable government policies may also pose a threat to businesses such as ours.
7. MARKET ANALYSIS
- Market Trends
Experts projected that in 2017, the retail market for the Smartphones industry is expected to profit from growing global economic conditions. Per capita income levels have scaled across the globe and a growing numbers of teens in emerging economies have looked to purchase their own smartphones. As the demand for new smartphones increases, original equipment manufacturers supply more components to industry operators.
A resurgence in demand for new smartphones has stimulated industry profit, as operators were able to increase sales. Steady growth in economic conditions will create avenues for consumers to release pent-up demand for high – end smartphones, hence the increase in demand for upstream supplies.
If you are conversant with the retail market for the Smartphones industry, you will quite agree that the original equipment refers to cell phone parts and accessories that are manufactured to the specification of cell phone manufacturers.
These standards are global, and cell phone manufacturers typically source the same part from different suppliers. Even though these parts and accessories are manufactured by companies in the industry, original equipment carries the name of the final cell phone assembler.
The cell phone accessories stores landscape has seen tremendous changes in the last 20 years; it has grown from the smaller outlets to a more organized and far reaching venture. The introduction of franchise and online store makes it easier for a cell phone accessories retailer to reach out to a larger market far beyond the areas where his physical store is located.
Those who patronize cell phone accessories store cut across all genders above 18 years with the financial means and who own cell phones, hence the target market for cell phone accessories store business is all encompassing. In essence, your target market can’t be restricted to just a group of people, but all those who own cell phones.
In view of that, we have positioned our cell phone accessories store to service the residents of Harrington – Delaware and every other location where our outlets stores will be located all over key cities in the United States of America and Canada. We have conducted our market research and feasibility studies and we have ideas of what our target market would be expecting from us.
A close study of the retail market for the Smartphones industry reveals that the market has become much more intensely competitive over the last decade. As a matter of fact, you have to be highly creative, customer centric and proactive if you must survive in this industry. We are aware of the stiff competition and we are prepared to compete favorably with other leading cell phone accessories stores in Harrington – Delaware.
John Lyon® Cell Phone Accessories Stores, Inc. is launching a standard phone accessories store that will indeed become the preferred choice of residence of Harrington – Delaware and every other location where our outlets will be opened. Our cell phone accessories store is located in a corner piece along a major road close to one of the largest residential estates in Harrington – Delaware.
We will ensure that we have a wide range of cell phone accessories from leading manufacturers available in our store at all times. It will be difficult for customers to visit our store and not see the type of cell phone accessories they are looking for.
One of our business goals is to make John Lyon® Cell Phone Accessories Stores, Inc. a one stop cell phone accessories retail shop. Our excellent customer service culture, online store, various payment options and highly secured facility will serve as a Competitive Advantage for us.
Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and objectives. We will also give good working conditions and commissions to freelance sales agents that we will recruit from time to time.
- Sources of Income
John Lyon® Cell Phone Accessories Stores, Inc. is in business to retail a wide range of cell phone accessories to residents of Harrington – Delaware. We are in the industry to maximize profits and we are going to ensure that we achieve or business goals and objectives.
John Lyon® Cell Phone Accessories Stores, Inc. will generate income by selling the following products;
One thing is certain when it comes to cell phone accessories stores, if your store is stocked with various types of cell phone accessories and is centrally positioned, you will always attract customers cum sales.
We are well positioned to take on the available market in Harrington – Delaware and we are quite optimistic that we will meet our set target of generating enough income/profits from the first six months of operation and grow the business and our clientele base.
We have been able to examine the cell phone accessories stores industry and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. Below are the sales projections for John Lyon® Cell Phone Accessories Stores, Inc. it is based on the location of our business and other factors as it relates to cell phone accessories stores in the United States;
- First Fiscal Year (FY1): $240,000
- Second Fiscal Year (FY2): $350,000
- Third Fiscal Year (FY3): $550,000
N.B : This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor within our market space. Please note that the above projection might be lower and at the same time it might be higher.
- Marketing Strategy and Sales Strategy
Before choosing a location for John Lyon® Cell Phone Accessories Stores, Inc. we conducted a thorough market survey and feasibility studies in order for us to penetrate the available market and become the preferred choice for residents of Harrington – Delaware. We have detailed information and data that we were able to utilize to structure our business to attract the number of customers we want to attract per time.
We hired experts who have good understanding of the cell phone accessories stores industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Harrington – Delaware.
In summary, John Lyon® Cell Phone Accessories Stores, Inc. will adopt the following sales and marketing approach to win customers over;
- Introduce our cell phone accessories store by sending introductory letters alongside our brochure to key stakeholders in Harrington – Delaware
- Ensure that we have a wide range of cell phone accessories from different brands at all times.
- Make use of attractive hand bills to create awareness and also to give direction to our store
- Position our signage/flexi banners at strategic places around Harrington – Delaware
- Position our greeters to welcome and direct potential customers
- Create a loyalty plan that will enable us reward our regular customers
- List our business and products on yellow pages ads (local directories)
- Leverage on the internet to promote our business
- Engage in direct marketing and sales
- Encourage the use of Word of mouth marketing (referrals)
- Join local chambers of commerce and industries to network and market our products
Despite the fact that our cell phone accessories store is well located, we will still go ahead to intensify publicity for the business.
John Lyon® Cell Phone Accessories Stores, Inc. has a long-term plan of opening outlets in various locations all around Delaware and key cities in the United States which is why we will deliberately build our brand to be well accepted in Harrington before venturing out.
Here are the platforms we intend leveraging on to promote and advertise John Lyon® Cell Phone Accessories Stores, Inc.;
- Place adverts on community based newspapers, radio stations and TV stations.
- Encourage the use of word of mouth publicity from our loyal customers
- Leverage on the internet and social media platforms like; YouTube, Instagram, Facebook, Twitter, LinkedIn, Snapchat, Google+ and other platforms to promote our business.
- Ensure that our we position our banners and billboards in strategic positions all around Harrington – Delaware
- Distribute our fliers and handbills in target areas in and around our neighborhood
- Advertise our cell phone accessories store business in our official website and employ strategies that will help us pull traffic to the site
- Brand all our official cars and trucks and ensure that all our staff members and management staff wear our branded shirt or cap at regular intervals.
On the average, there is a standard price for various cell phone accessories hence the prices of our cell phone accessories will conform to what is obtainable in the industry but we will ensure that within the first 6 to 12 months our products are sold a little bit below the average price in the market. We have put in place business strategies that will help us run on low profits for a period of 6 months; it is a way of encouraging people to buy into our brands.
- Payment Options
The payment policy adopted by John Lyon® Cell Phone Accessories Stores, Inc. is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.
Here are the payment options that John Lyon® Cell Phone Accessories Stores, Inc. will make available to her clients;
- Payment via bank transfer
- Payment with cash
- Payment via credit cards
- Payment via online bank transfer
- Payment via check
- Payment via mobile money transfer
In view of the above, we have chosen banking platforms that will enable our clients make payment for our cell phone accessories purchase without any stress on their part.
13. Startup Expenditure (Budget)
When it comes to starting a cell phone accessories business the major areas that you look towards spending the bulk of your cash is in the purchase of a wide range of cell phone accessories from different manufacturing brands and of course renting or leasing a well located store facility.
You are also expected to pay your employees and your utility bills. These are the key areas where we will spend our startup capital on;
- The total fee for registering the business in the Unites States of America – $750.
- Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $3,300.
- Marketing promotion expenses for the grand opening of John Lyon® Cell Phone Accessories Stores, Inc. in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
- The cost for hiring business consultant – $2,500.
- Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $2,400.
- The cost for payment of rent for 12 months at $1.76 per square feet in the total amount of $55,600.
- The cost for shop remodeling (construction of racks and shelves) – $20,000.
- Other start-up expenses including stationery ($500) and phone and utility deposits ($2,500).
- Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $60,000
- The cost for start-up inventory (stocking with a wide range of cell phone accessories from different manufacturing brands) – $50,000
- The cost for counter area equipment – $1,500
- The cost for store equipment (cash register, security, ventilation, signage) – $3,750
- The cost of purchase and installation of CCTVs: $10,000
- The cost for the purchase of office furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al): $4,000.
- The cost of launching a website: $600
- Miscellaneous: $10,000
We would need an estimate of two hundred and fifty thousand dollars ($250,000) to successfully set up our standard cell phone accessories store in Harrington – Delaware.
Generating Funds/Startup Capital for John Lyon® Cell Phone Accessories Stores, Inc.
John Lyon® Cell Phone Accessories Stores, Inc. is a private registered business that is owned and financed by John Lyon. He has decided to restrict the sourcing of the startup capital to 3 major sources.
- Generate part of the startup capital from personal savings
- Source for soft loans from family members and friends
- Apply for loan from my Bank
N.B: We have been able to generate about $50,000 (Personal savings $30,000 and soft loan from family members $20,000) and we are at the final stages of obtaining a loan facility of $200,000 from our bank. All the papers and documents have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.
Part of the plans we have in place to sustain John Lyon® Cell Phone Accessories Stores, Inc. is to ensure that we continue to make available a wide range of cell phone accessories from different manufacturing brands, deliver quality services, improvise on how to do things faster and cheaper. We are not going to relent in providing conducive environment for our workers.
From our findings, another factor that kills new businesses is financial leakages. In order to plug financial leakages, the management of John Lyon® Cell Phone Accessories Stores, Inc. adopted the use of payment machine and accounting software to run the business.
We are quite aware that our customers are key component to the growth and survival of our business hence we are going to continuously engage them to give us ideas on how to serve them better and the products they want to see in our store. We will not waste time in adopting new technology, best practices and diversifying our services.
John Lyon® Cell Phone Accessories Stores, Inc. will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
Check List/Milestone
- Business Name Availability Check : Completed
- Business Registration: Completed
- Opening of Corporate Bank Accounts: Completed
- Securing Point of Sales (POS) Machines: Completed
- Opening Mobile Money Accounts: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Leasing of store facility and remodeling the store: In Progress
- Conducting Feasibility Studies: Completed
- Generating capital from family members: Completed
- Applications for Loan from the bank: In Progress
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents and other relevant Legal Documents: In Progress
- Design of The Company’s Logo: Completed
- Printing of Packaging and Promotional Materials: In Progress
- Recruitment of employees: In Progress
- Purchase of the needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
- Creating Official Website for the Company: In Progress
- Creating Awareness for the business both online and around the community: In Progress
- Health and Safety and Fire Safety Arrangement (License): Secured
- Compilation of our list of products that will be available in our store: Completed
- Establishing business relationship with vendors – manufacturers and suppliers of cell phone accessories: In Progress
More on Wholesale & Retail
Cell Phone Accessories Shop Business Plan Sample
Cell phone accessories business plan guide.
We are in an era where cell phones have become an integral part of our daily lives. This multi-billion dollar industry continues to thrive with innovative products and services.
However, our focus is on the cell phone accessories side of things. This cell phone accessories business plan sample targets readers who wish to start their business and need help with their plans.
Are you one of those? If you are, relax and read through the article as we guide you through the entire process. By using this as a guide, you need not stress yourself over how to structure your plan.
Ready? Let’s get cracking!
About Cell Phone Accessories Retail Business
A cell phone accessories business is undoubtedly one of the readily available avenues to make good gains in mobile phones. There are pretty several reasons cell phone accessories businesses are very profitable.
Some of them are:
- Starting a cell phone accessories business does not require massive capital. This means you do not need to wait until you have a bulk of cash before you start one
- It leads to high profits irrespective of the amount used to begin initially.
Here is a sample business plan for starting a mobile accessories business.
Executive Summary
Telecoms Masters® is a cell phone accessories business that sells and supplies cell phone accessories of different brands. We sell accessories for major cell phone brands that are popular among users.
We are headquartered in Phoenix’s Central Business District in Arizona. Telecoms Masters® has partnered with these cell phone brands to provide an assortment of accessories for users.
- Products and Services
In the meantime, our primary area of focus would be the sale of cell phone accessories.
However, we will include cell phone repairs within two years of business operations. We will sell accessories like screen protectors, mobile power banks, selfie sticks, and phone casings.
Others are cellular signal boosters, pop sockets, battery extenders,
- Vision Statement
Although we are launching as a small business, our sights are far beyond our current scale.
We plan to become significant cell phone accessories suppliers to end-users and wholesalers. Also, we will be opening outlets in major cities across the 50 states of America. We hope to have achieved this within eight years.
- Mission Statement
Our mission at Telecoms Masters® is to only work with reputable brands. This is to help establish our business as a significant provider of quality cell phone accessories.
Our outlets will be patterned so that whoever walks in is assured of a good deal in addition to finding several options to choose from. In other words, our outlets will be a one-stop shop known for quality and affordability.
We are selling a 30% stake in our business to investors. This amounts to $1,500,000.00. This will be valid for eight years, after which 100% ownership will return to the business owners.
This is a fair deal that allows the investor(s) to recoup their investments and shares in the business’s profitability.
- SWOT Analysis
We are concerned with our readiness to launch into the cell phone accessories business.
Hence, to measure our capability and areas that need improvement, we have analyzed our business structure by considering key indices that reveal our strength.
The results are as follows;
We are a small business but understand the dynamics of the cell phone accessories market. We have also formed vital partnerships with product manufacturers.
These have been carefully chosen, offering attractive discounts that give us good profit margins. This creates a win-win situation.
Also, technicians will be trained to start in our second year. This will lead to the creation of a cell phone repair department.
Our cell phone accessories business is still in its infant stages.
This means that we have limited financing. This will eventually be overcome as the business grows or expands. Then, we will embark on an aggressive expansion drive.
However, we have a limited capacity in the short term.
- Opportunity
There is no shortage of options.
This is because newer and better models of cell phone accessories are being developed. Our vital partnerships with product manufacturers mean we will be given first preference for these products.
Because people want to have a feel for the newest products, we have the opportunity to increase sales significantly.
A decline in income will directly affect the purchasing power of our clients. This will affect the entire chain of production and distribution. Therefore effective government policies are essential to the profitability and growth of our business.
An economic recession will also affect production and sales too.
- Financial Projection
A financial projection is a forecast of sales over a specific time frame. We have done this to cover three years. Our findings have been encouraging and reveal a steady climb in sales.
Current market conditions, as well as data obtained over five years, helped us reach our current projections, as summarized below;
- First Financial Year $450,000.00
- Second Financial Year $800,000.00
- Third Financial Year $1,500,000.00
- Competitive Advantage
We have taken much time to select our partners (cell phone accessories manufacturers) carefully. This was done to enable us to obtain quality products as well as offer competitive prices for our products.
This is only possible when there is a good profit margin. This also gives us a better deal/return, speeding up our growth.
- Target Market
Almost everyone uses a cell phone. This has become a necessity and aids accessible communication. These phones come with multiple functions and accessories, making for better use of these devices.
Given this, our target market consists of people using smartphones. Such people may need screen protectors, mobile phone casings , headphones, etc.
Did you expect it to be this easy? We have stripped this cell phone accessories business plan sample of all complexities. You can put together a more precise and more comprehensive plan.
This not only helps interested investors to understand but also helps you implement its contents.
Similar Posts
Laser cutting business plan sample.
Here is a guide on writing a laser-cutting business plan Many people wish to set…
Tax Preparation Firm Business Plan Sample
TAX PREPARATION BUSINESS PLAN GUIDE A tax preparation firm is a business that assists people…
Italian Ice Cream Business Plan Sample
We have one simple goal, and it’s to guide you on how to put together…
Ostrich Farming Business Plan Sample
OSTRICH FARMING BUSINESS PLAN GUIDE Ostrich farming business particularly focuses on the growing and selling…
Museum Business Plan Sample
MUSEUM EXHIBITION BUSINESS PLAN GUIDE Starting up a museum business is bureaucratic. It is a…
Scrap Metal Recycling Business Plan Sample
SCRAP METAL RECYCLING BUSINESS PLAN GUIDE Are you interested in starting up a scrap metal…
Leave a Reply Cancel reply
Your email address will not be published. Required fields are marked *
Hello, Sign In My Account
How To Create A Phone Accessories Business Plan
The increased prevalence of mobile phones in the world means that people need accessories such as phone covers, tripods, mounting systems, screen protectors, headphones, etc., now more than ever to heighten and improve their smartphone experience. This high demand has created a great business opportunity for any parties that are interested. Before you decide what your phone accessories business plan is, it is important to first understand that you will be joining one of the most highly competitive businesses out there. However, you will be glad to know that the phone accessories market is one of the largest and most profitable, especially if you manage to find a niche that you can thrive in and beat the competition.
Therefore, if you are planning on going into business, here is how to create a phone accessories business plan:
Be sure that the business is for you
The first step towards starting any successful business is to find out if you are entering the right business, and for the right reasons. Anyone can start a phone accessories business, but you have to be truly passionate about it to succeed. Before anything, be sure that this is the business that you truly want to be involved in for the long haul even when you do not see profits at first.
Figure out your competition
Competition is a healthy and necessary part of owning any business. Find out how many other business owners in your field you will be competing with, as well as what they are doing, and then set yourself apart. Think of everything that you can add or remove to make your business noticeable. Create a product list that is unique from all others in the market and selects unique accessories. It might help if you design your own products instead of acquiring everything from a wholesale supplier.
Choose a location
Are you planning on renting a brick and mortar space or are you planning on selling your phone accessories online? The decision on whether you want to rent to create a website will ultimately affect your budget so weigh it carefully.
Prove every claim that you make
If you expect to see profits within the first 6 months, it is essential to back up your claims so that you can hold yourself accountable. Support such statements with fact and ensure that you do everything possible to make it happen. If you are unsure about your sales projections, you can be conservative about it by giving a more credible figure.
Business, Money, Marketing
Cell phone accessories business plan.
Looking for a cell phone accessories business plan for your new or existing enterprise?
Download this cell phone accessories business plan, which you can download to present to NIRSAL, TEF BOI, BOA, and other investors.
MOBILE PHONE ACCESSORIES BUSINESS PLAN
1.0. EXECUTIVE SUMMARY
Bobo Phone Accessories is a company situated in Ajah Lagos State. We sell phone covers, external batteries, chargers, and USB flash drives. To enhance customer happiness and less complaints, we carefully pick the brands of the items we sell.
The worldwide mobile phone accessories market was valued at $224.69 billion in 2018 and is expected to reach $284.06 billion by 2026, rising at a CAGR of 3.1% from 2019 to 2026, according to Allied Market Research. In today’s world, mobile phones are indispensable. The increased popularity of smartphones, which provide excellent connectivity to the digital world, is driving the mobile phone accessories industry. The expansion of the mobile phone accessories market is being driven by an increase in demand for wireless accessories. The demand for mobile phone accessories has expanded as disposable income has increased and social networking sites have proliferated in metropolitan areas. Furthermore, increased internet penetration benefits the online selling platform. Engineers who do repairs, students, business centers, families, wholesalers and retailers, people, and businessmen and women are among our target customers.
We offer online service to our consumers, and our store accepts a variety of payment methods. We will make certain that our consumers are involved in the selection of items (brands) in our shop as well as in business choices that directly affect them. Our goal in launching a phone accessories store is to establish a standard store outlet in Enugu.
Although our phone accessories store may not be as large as some of the industry’s largest stores at first, we will guarantee that appropriate structures are in place to accommodate the type of development that we have in mind when we set up the firm. We will make certain that we recruit competent, honest, and customer-focused individuals that are eager to contribute to the success of the firm.
Advantages of our products and services • High-quality phone accessories
• Round-the-clock customer assistance
• Outstanding customer service • Reasonably priced
2.0. Our offerings and services
Patilad provides phone accessories including cases, chargers, earpieces, Bluetooth, SD cards, and so on. We provide the following products and services: • Phone Cases (Pouches and sleeves, Holsters, Shells, Skins, Fitted cases, Bumpers, Flip cases and wallets, Drop and shock protection, and Leather case) • Mass storage component (SD card, SD card slot, and USB micro-B flash drive) • External batteries and chargers • Bluetooth cable/speaker • Selfie sticks, smartphone tripod attachment • Micro-USB to HDMI cables for smartphones that support MHL
3.0. Success Factors
The following are the keys to success for Phone Accessories: • Quality products • Friendly customer service • Variety of items • Reasonable rates and discount offers • 24/7 online customer support
• To have consistent sales growth in the next 12 months
• To expand customer base by 40% in the next two years
• To become a brand leader in the sales of phone accessories in Nigeria • To establish a profitable/sustainable home-based business.
4.0. VISION AND MISSION STATEMENT
Vision Statement Our goal is to continue expanding our services into new sectors. As more people become aware of the company’s presence, the company’s coverage area expands. Mission Statement Our goal is to become a leading manufacturer and seller of phone accessories in Nigeria.
5.0. Phone Accessories Business Plan Management Team in Nigeria
Bayo – He graduated from Unilah with a BSc in Computer Engineering. He has worked at Lagos’s computer village, Ikeja. He is our organization’s general manager.
Chiamaka Eze: She oversees the sales and marketing staff. She has almost five years of marketing experience. She graduated from the University of Ibadan with a Master’s degree in Marketing.
We contributed to the company:
• Academic knowledge and practical expertise in the Phone Accessories industry; and • the ability to constantly give excellent service. • A high-quality processed product and a thorough awareness of market trends. • Our employees provide operational, marketing, and promotional talents to the company.
6.0. Materials and Machine for Nigerian Phone Accessories Business Plan
Cabinets, show glasses, business cards, air conditioner, fan, furnishings, hand tools for needed repairs (screwdriver), trendy nylons, telephones, and so on.
7.0. Competitor Analysis for Nigerian Phone Accessories Business Plan
People buy from us for the following reasons:
• High-quality items
• Consistently high-quality service. • Excellent client service. • Professional and highly qualified employees. • Reasonable rates and promotional deals.
Our three primary competitive advantages are as follows:
1. High-quality goods 2. Excellent client service. 3. Reasonable rates and promotional offers
How To Download Cell Phone Accessories Business Plan PDF and Doc (With financial analysis)
Pay the sum of N5000 ( Five thousand naira only) to the account detail below: Bank: GTBank Name: Oyewole Abidemi (I am putting my name and not our company account so you know I am real and you can trust me, and trace me) Ac/No: 0238933625 Type: Saving
P.S: We can also tailor the mobile phone accessories business plan to your name, business size, capital requirements, and more to fit your direct needs. Call or message +234 701 754 2853 for inquiries.
Thereafter, send us your email address through text message to +234 701 754 2853. The text must contain the title of the business plan you want and also your email address. Immediately after the confirmation of your payment, we will send the mobile phone accesories plan sample to your email address where you can easily download it.
Demi is a professional writer, published author, and digital marketing aficionado for Liveandwingit Digital marketing agency. Het has explored several opportunities across the internet ecosystem. When Demi is not crafting mind-boggling content, he is binge-watching Game of Thrones, Money Heist and Suits.
FEASIBILITY STUDY FOR LAUNDRY BUSINESS (pdf/doc)
Integrated farming feasibility study sample, you may also like, download bike logistics business plan, how to start bike logistics business in nigeria, how to start a poultry feed mill in..., download poultry feed mill business plan pdf, feasibility study sample for feed mill company, how to start a printing business in nigeria, how to start yoghurt business in nigeria, how to start a bread bakery business in..., how to start a microfinance bank business in..., cucumber farming and processing business plan in nigeria, leave a comment cancel reply.
Save my name, email, and website in this browser for the next time I comment.
Professional Guide in Nigeria
Phone Accessories Business Plan
By Wisdom Enang
Phone Accessories Business Plan in Nigeria will be discussed in this article. This is a sample business plan to help you to execute this business.
Mobile phone accessories business plan in Nigeria
Read Also: Graphic Design Business Plan in Nigeria
Phone Accessories Business is a business that deals with phone parts which are simply called phone accessories.
Cell Phone Accessories Store Business Plan
Vision statement.
To develop that business to move from the stage of retail to wholesale, to move from the stage of wholesale to a stage where phone accessories can be stocked by producers and purchased by other wholesalers at an affordable price.
Read Also: Raw Food Stuff Business Plan in Nigeria
Mission Statement
- This business plan is established with a major expansion anticipated by Phone Accessories with the key objective of developing cooperation with new business partners in the foreseeable future.
- To make your price rate accessible and affordable.
Economic Value
- To create employment opportunities for youths. To educate and train both men and women on phone engineering to a peak of professionalism.
- To educate and train youth markers that will advertise our products.
- The Transfer of technical and management know-how; training and skill development of locals and in communities.
- To build an information bank that will inform the public on the need to have good phones thereby solving communication problems especially in the northern States.
- To collaborate with NGOs and other governmental bodies and build competitions where winners are awarded phones and other educative materials and products.
Read Also: Nylon Production Business Plan in Nigeria
Our Target Market
- Shops through sales
- Engineers making repairs and sales
- Media for advertising our products
- Markets through sales
- Students sales and promotion
- Public through buying and selling
- Events through partnership
- Business centers
- Corporate bodies, etc.
Accounting Records
Your phone accessories business should ensure accountability with daily accounting records. This is to ensure an effective financial balance to enable your business to have a healthy and robust net profit for the expansion of the business within a long period.
Read Also: Perfume Business Plan in Nigeria
Capital Base
Phone accessories are very profitable and require good capital to make the business profitable.
Your capital base is required depends on the expansion level of the business.
Thus, if the business will operate as a sole proprietor, an estimated capital of one hundred thousand Naira will be required.
If the business will operate as an agent of retail, the estimated capital will be about two hundred and fifty thousand Naira mainly for the stock of products for sale.
Labour Force
One to six workers for a start which will depend on the nature of the business.
Estimated Income
Phone Accessories business is a very profitable business. Phones are essential and highly demanded.
Read Also: Wine Bar Business Plan
Your products should be reliable with good availability, management, creativity in marketing. There should be adequate space available for future expansion.
Related Post
Shoe making business plan in nigeria, tips for finding business investors for your business, 8 low risk investments, leave a reply cancel reply.
Your email address will not be published. Required fields are marked *
Save my name, email, and website in this browser for the next time I comment.
10 Effects of Excess Sugar to the Body
10 reasons for sudden death in humans and solutions, how to solve problems in life, 8 health benefits of cucumber.
- Write for Us
How to Start A Mobile Phone Accessories Wholesale Business
Mobile phone use is increasing in our modern world, which will increase the demand for mobile phone accessories. The accessories you use on your mobile phone make it more efficient and protect it. Thus, a wide variety of business opportunities are now open to you. You can make a lot of money from starting a mobile phone accessory company, but for that, a good business plan is required. I’ve gathered a few tips on how to get started with selling mobile phone accessories below, along with a quick overview of the smartphone market.
Top Selling Wholesale Mobile Phone Accessories
Your cell phone accessories marketing plan must include all these products so that there is very little chance for you to fail if you work hard. The accessories that will make you more money are bulk Popsockets , wireless earbuds, and phone cases. The margins of different accessories vary, but the margins of mobile accessories are higher than those from selling the phone, according to existing business people. Listed below are a few items that are ideal for your store:
- Phone Cases/Covers
- Wired or Wireless Earphones
- Headphones
- Tempered Glass for Mobile Screen
- Selfie Stick
- Power Bank
- Multi-port Charger
- Bluetooth Cable
- Bluetooth Speaker
- Car Charging Port
7 Steps to Start Your Mobile Phone Accessories Business
Previously, we reviewed some of the best-selling mobile accessories. What matters is that you are taking steps toward making your dreams come true by starting your own mobile accessory business. Following these steps will help you to launch a business selling cell phone accessories:
Analyze the Market
The accessory market would have multiple competitors, which is natural and healthy for any business. Look at what your competitors are selling and create your own unique product list that will set you apart from them. If you want your business to be noticed, think about everything that can be included or excluded.
Find The Right Location
How would you go about selling accessories online or opening a shop? Mobile accessory businesses need to have an ideal location since this business can’t operate from one location alone. If you want your store to succeed, then you should rent a kiosk in a mall or a market with high foot traffic. An online store will allow you to reach a broader customer base.
Source for capital and investments
In order to accomplish this, extensive planning would be required. The start-up of a business requires capital, without which it is impossible to prosper. Capital can be raised in various ways depending on your business needs. Here are some of the ways.
- Business Loan
- Credit Loan
- Input from friends and family
- Your personal savings
Understand the Legal Requirements
A business license is required to start an accessories business. Licensing must be done through a government agency. Some of the licenses required by all types of business are,
- Traders license
- Aadhar Registration
- PAN registration
- It is a requirement to register under the Shop and Establishment Act if you intend to open a physical store.
- If your sales would exceed 20 lakhs annually or if you were to sell your products across state lines, you should obtain a GSTIN
Choose a Supplier
Finding an accessories supplier will be the next step. Choose the right supplier when you run an accessory business. When finding a supplier, you should consider their reputation first. Pick a supplier whose products are always of high quality.
Remember to Invest in Quick-Moving Products
New products and technologies continue to be introduced to the mobile phone industry on a regular basis. In contrast to cable technology, everybody now uses wireless technology. In the past, this was considered impossible. It is important to take a look at the products that are doing well now and are making waves. These are the ones in high demand, so invest in them. Do not let your inventory become blocked.
Set up Marketing Channels
A marketing plan is also essential. A marketing system helps you spread the word, and you cannot succeed without one. If your business operates online, you have a greater need for marketing. Social media can help you market yourself. Social
media marketing isn’t the only way to promote your brand online. YouTube and Google AdWords are other platforms you can use.
Things That Are A Must In Your Business Plan
To be successful, you need to include a few things in your business plan, such as:
Company overview
Banks and investors will be interested in your business plan and its goals. For an accurate picture of your business, remember to mention:
- Market & Product
- Objectives
- Cost summary
- Keys to success
Market and Industry Analysis
Your passion and hard work would be presented to investors in this section. Before you start your business, you learn more if you do more research on the market and industry. Include the following items:
- Industry Analysis
- Target customer
- Competitor Analysis
- Market Analysis
- SWOT Analysis
Marketing Strategy
Whenever you contact investors, they will ask about your marketing strategy. Ideally, you should prepare your strategy and plan before you get there. Plan your business according to all of these strategies:
- Pricing Strategy
- Sales strategy
- Product/Service strategy
- Advertising and promotion strategy
- Distribution strategy
- Target market strategy
- Marketing and sales forecast
How to Increase the Sale of Accessories?
As soon as you start a business, all you think of is expanding it and increasing sales so you can make a profit. Boosting the sales can be achieved in a few different ways:
- Use Internet Marketing – We live in an era when internet usage has skyrocketed and social media platforms are frequently used for advertising. Without this platform, you may be at a severe disadvantage. As a matter of fact, you should consider opening an e-commerce store to grow your cell phone accessory company.
- Promote and advertise your business – Offering great deals and discounts to your customers is the best way to get more customers into your store. To draw a larger customer base, it is advisable to advertise on social media, through hoardings, or by using leaflets.
- Ask for feedback – Although mistakes are bound to happen if you learn from them, that is always appreciated. Your store can keep a feedback form where customers can write down their good and bad experiences, which will lead to an improvement in service quality.
Final Verdict
In this article, we have discussed how to start a mobile phone accessories wholesale business. We hope that the information provided in this article has helped you in some way. If you are thinking of starting your own business, this article can help you. Make sure to buy the accessories from a reputable seller among all the other things mentioned here. Please feel free to contact us if you have any questions regarding this article.
7 Steps Guide To Building An Effective Content Marketing Strategy
Staying away from future breakdowns.
Related posts
How to select the right ecommerce development company, 3 traditional industries that have embraced new technology, how to improve nps results 7 strategies to grow your customers’ loyalty, interesting referral program award ideas for print demand business, protecting your small business online: what you need to know, why profit margin is so important and how to calculate it, social media, best in streaming, 15 couchtuner alternatives that actually work in 2023, mangastream – is it down 19 best alternatives to read manga online in 2023, 22 best free online movie streaming sites without sign up 2023, kisscartoon – 20 best alternatives and mirrors in 2023 [100% working], 10 thewatchseries alternatives to watch tv series online in 2023, 17 putlocker alternatives to watch movies online in 2023, textsheet alternative – 10 sites like textsheet for students {2023 working}, 23 stream2watch alternatives for watching sports online in 2023, best rabbit alternatives – sites like rabb.it in 2023, project free tv – 27 best alternatives to watch movies in 2023.
Username or Email Address
Remember Me
Registration is closed.
Academia.edu no longer supports Internet Explorer.
To browse Academia.edu and the wider internet faster and more securely, please take a few seconds to upgrade your browser .
Enter the email address you signed up with and we'll email you a reset link.
- We're Hiring!
- Help Center
Business Plan on Mobile Store
Related Papers
Eric Pereira
Muhammad Alshurideh
As identified by large numbers of scholars, service organisations are facing critical problems regarding a set of questions relating to customer retention (CR), namely, How to retain their customers? and How to decrease both customer costs and customer mobile-switching rates? Thus, this study focuses on CR problems in the mobile phone service sector. CR has become an issue as customers increasingly switch service providers as competition between service providers escalates. CR is further exacerbated with mobile service providers spending billions in gaining new customers but rarely spending equal amounts on establishing, maintaining, and building healthy long-term relationships with their existing mobile subscribers.
Pavithra Hemash Jayasinghe
Shaira Dimalibot
Technovation
Sameer Kumar
... When a purchase is made, Paypal transfers the cash to the seller's account. ... In business everyone wants to know how he or she will get a slice of the mobile communication action. For those developing the technology affordability means profitability. ...
Orose Leelakulthanit
RELATED TOPICS
- We're Hiring!
- Help Center
- Find new research papers in:
- Health Sciences
- Earth Sciences
- Cognitive Science
- Mathematics
- Computer Science
- Academia ©2023
917-997-1315
How to Start a Phone Case Business
Cell phone accessories give consumers a chance to personalize and customize their experience. The popularity of cell phone cases in particular makes this market highly profitable, but at the same time very competitive.
Service providers have plenty of products on hand when customers purchase a new phone. Phone owners buy accessories from various sources, including kiosks at the mall and online stores. Widespread product availability can make market entry more difficult than production.
Your decision to start a phone case business requires a long-term commitment. Start your journey by researching your target market. Design the type of case your ideal customer demands and develop a marketing strategy. Once you have a finished product, expect to spend most of your time selling it.
Obstacles and challenges will arise as you develop your business. Having patience and realistic expectations, therefore, will help you succeed as an entrepreneur. Follow the step-by-step procedure described in this guide to build a successful phone case business. Pay attention to details and you will avoid many of the problems that have caused other startups to fail.
Chapter Overview:
- Covering the Basics
Research the market to discover what consumers want from their cell phone cases. Learn how to write a successful business plan. Name your business, select your location and sales channel. Develop a mission statement and business goals that will guide your efforts.
- Legal Requirements
Reduce your risk of liability and failure by learning and complying with legal requirements. Discover the laws and regulations that apply to the production and sale of phone cases. Keep in mind that taxation will impact the way you organize and operate your business.
- Financing the Business
Money affects every aspect of your business. Learn to estimate your startup and operating expenses. Find ways to finance your company. Your financial needs will affect product pricing as well as your choice of equipment and facilities.
- Marketing and Advertising
Identify the people who will most likely buy your product and find out how to reach them. Select workable marketing channels and craft a strategy that resonates with your audience. Learn to make customer service a competitive advantage and the cornerstone of your phone case business.
- Selecting Vendors
Vendors will supply you with services and items you need to manufacture cell phone cases. Find out how to choose the right suppliers for your business. Reliable and highly professional vendors will have a direct impact on your business success.
- Launching the Business
Launching your business marks the beginning of a long journey. Announce the launching of your phone cases and engage your customers to get the feedback you need to tweak your product and brand. The feedback will allow you to adjust your business strategies in order to stay relevant in the dynamic marketplace of cell phone accessories.
Chapter 1: Covering the Basics
Starting a business involves more than a creative product and a place to sell it. Such a misunderstanding reflects the deceptive simplicity of consumer’s perspective. Successful ventures need hard work and diligent research before they open their doors.
Developing a business plan requires intense thought and visualization. You must document every process and resource that your business will need. Extensive research and planning can lure investors and provide a solid foundation for success.
Market Research
Good market research has several stages. Firstly, you should gather data from current phone case sales. Get to know the people who are buying phone case accessories. To do so, you must find out where they hang online and offline.
Connecting with your future customers is crucial to your business success. Interact with customers on social media and get their feedback on what they like and dislike about currently available phone cases. Ask about their opinion regarding phone case prices. You can gather this information by using social networks, blogs and forums, conducting surveys, providing questionnaires or doing interviews. Use customer feedback to craft a marketing message and design your product.
Study your competitors after you study your customers. Identify the companies that have phone cases comparable to yours and learn how they operate. Gather information about both new and established brands.
To analyze your competition, obtain accurate data from published industry and trade sources. Watch your competitors’ social media accounts and websites for strengths and weaknesses. You can also speak directly to business owners. Many of them will be happy to share their knowledge and experience.
Competitive research should include comparing available products and prices. In addition, you may wish to approach your competitors as a customer and buy one of their phone cases in order to get insight into actual customer experience.
Writing a Business Plan
The aim of your business plan is to give credibility to your startup. A good business plan can win the hearts and money of banks and investors by proving that you have a solid proposal. Also, your business plan will define your operation and help you focus your activities.
Start your document by preparing an executive summary and outline. Giving your readers an overview will prepare them for the details that follow.
The description section of your plan should include a review of the phone case industry. Write an analysis of competing firms that highlights their strengths and weaknesses. A detailed business plan should also encompass marketing strategies that explain how you plan to position your phone case business in today’s competitive market in order to attract customers and make a profit.
Next, provide a section on your design and development plan. Supply the specifications of your phone case design as well as your production process. Include estimates for the cost of labor and materials for your case as for product pricing.
The operations and management plan is another crucial section of your business. You should include logistical details and the performance requirements of your organization. Define every role within your organization and provide accurate job descriptions as well as requirements related to managing your phone case business.
The last part of the business plan includes financial factors. Financial requirements stated in the plan should include an accurate estimate of the capital needed to start your phone case business. Describe how you plan to use the aforementioned capital. Highlight other financial elements, such as expected sales, cash flows, profit and return on investments. Describe your financial picture as the numbers portray it and avoid the temptation to exaggerate your position.
Naming Your Business
The name of your phone case business is crucial to your success. Choose a business name that conveys the values and mission of your company. However, remember that you do not necessarily need to have a descriptive name. Trying to communicate too much with a name can cause confusion, so keep your name short, easy to spell and pronounce.
Check the availability of the desired URL domain. You will want to use the same name for your website that you use for your business. If the website name is not available, consider adjusting or changing the business name. Also, check existing business names and trademarks before naming your business to avoid legal complications.
In general, you should avoid using worn-out terms and clichés for your business name. Instead, choose a unique name that makes your business stand out from the crowd.
Once you come up with a list of names that meet the above criteria, conduct a survey asking people and potential customers which name they like and which name is easy for them to remember. The success of your phone case business depends on its name, so avoid making a quick decision.
Selecting a Location
Your business model will influence where you locate your phone case business. Decide whether you will sell your product online or through a store or kiosk. You might choose to sell through more than one channels.
Availability and cost will guide your selection of a physical location. Search for an affordable high-traffic location that has no nearby competitors. Setting up a physical store requires inventory space and fixtures such as lights and shelves. You will also need to buy signs, a merchant account and a point-of-sale system to check out customers. Use listings in local and online directories to help shoppers find your kiosk or store.
On the other hand, an e-commerce website requires software and a secure environment for shoppers. Your site should include product photos, custom product descriptions, pricing and shipping information, return policy and contact information. Having an online store also requires opening a merchant account with credit card providers and online payment services.
Operating only an online store adds flexibility to your location search. You might cut costs by using your garage or basement to store your inventory and process orders. Otherwise, consider renting a space in a commercial building. Whether you choose a physical or an online location, keep in mind that you need extra space to store inventory, invoices and bookkeeping paperwork.
To conclude, you must resist the temptation to speed through the basic steps of opening a phone case business. Research your market thoroughly and write a business plan to give your startup purpose and direction. Use diligence to choose a fantastic business name and a great location. Work hard now towards creating a solid foundation on which to build your successful phone case business.
Chapter 2: Legal Requirements
Obtaining business licenses may sound like a tedious task, but it is necessary if you wish to legally operate your phone case business. Specific licensing requirements depend on the location, size and structure of your organization. In order to learn which licenses you need to obtain, check with your local and state government offices.
In general, you will need one or more of the following:
- General Business License
This license serves to identify businesses within an area and raise revenue for the local government. Your fee helps pay for available public infrastructure and services, whereas licensing data enables planners to manage the growth of their community. In most cases, general business license must be renewed annually.
- Sales Tax Registration
Both online and offline retail operations must collect sales tax in most states. If you are required to collect sales tax, you need to obtain a tax permit. Discounts for submitting sales taxes early or penalties for late payments can apply.
- Unemployment and Worker’s Compensation Registration
Most states require you to register your business, even if you are the only employee. Depending on the size and structure of your phone case business, you might need to buy insurance that covers work-related injuries. In addition, some states may require you to pay into the unemployment insurance plan used to finance discharged workers.
- Alarm Permit
Every time something or someone triggers your alarm, law enforcement or emergency personnel must respond. Communities require businesses to buy an alarm permit in order to help pay for such services. Some localities might also charge you an extra fee for every alarm incident in your phone case store.
- Home Occupation Permit
If you plan to have a home-based phone case business, remember that most city and state governments require businesses operated from a home to have a home occupation permit. This permit limits the amount of noise and pollution your business produces. It restricts the business space used within your home, the amount of customers that visit you daily, the number of employees, as well as the number of vehicles in front of your residence.
- Signage Permit
Local ordinances often govern the size and height of signs used in commercial areas. Keep in mind that you might face signage restrictions while operating your phone case business from home. Once you get your signage permit, you will have a chance to learn about applicable rules.
- Zoning Permit
If your phone case business is operated in a residential zone, familiarize yourself with the zoning ordinances and make sure to abide by the existing zoning laws. If necessary, obtain a zoning permit and comply with specific terms listed on the permit.
In addition to obtaining licenses and permits, there are other things to consider when starting a business. The following is a list of steps to setting up a phone case business:
- Register Your Business
Contact the Secretary of State’s office for your state to register your business. The type of registration you need can vary depending on the structure of your phone case business. Common choices include operating as a sole proprietor, LLC or partnership.
- Obtain Licenses
Check with the state secretary’s office to see if you need a state business license. For a local business license, inquire with the county clerk’s office. You might discover that the rules vary depending on your location and business structure.
- Get Your Federal Employer ID Number
Most businesses, particularly the ones with employees, should obtain an employer identification number. This number is used for filing taxes and can be obtained by completing and submitting Form SS-4 to the IRS.
- Obtain Sales and Use Tax Permit
The permit is required by most states. Check with the Department of Revenue for your state whether your phone case business requires this particular permit.
Future business owners often want to jump straight in with both feet and start selling their product before fulfilling business requirements. Resist the temptation to rush through this phase of setting up your phone case business. Spend the time and money needed to make your phone business legal. Compliance will help you avoid legal and civil complications that can jeopardize your business in the long run.
Chapter 3: Financing Your Phone Case Business
Insufficient funding causes many businesses to fail, even if they started well. You can improve your chances of success by having enough cash on hand to run your business until it generates positive cash flows. The information presented here will help you estimate your capital requirements, set pricing and operate a profitable phone case business.
Types of costs
Make the distinction between one-time costs and recurring expenses as you plan. Recurring costs include the materials used for production and rent, as well as utilities and payroll. On the other hand, the cost of starting a business includes one-time necessary expenses such as production equipment and furniture. Also, you must pay for operating licenses and permits before you start selling your product.
While listing all expenses, consider the fixed and variable costs associated with your business. Fixed costs, such as your rent, don’t change, regardless of how many phone cases you make and sell. Variable costs, on the other hand, increase along with growing production and sales volumes.
As you make progress with your business, you will have optional costs that may include office decorations, holiday parties and similar expenses that are not necessary for your phone case business to function efficiently. In contrast, essential costs are crucial to the functioning of your business. Always make sure you have enough money to cover the essential costs before you decide to invest in elements that will create optional costs.
Estimating your costs
Use your business plan to identify the fixed infrastructure your company requires. Think through your daily operation and write down everything your business needs. When finished, research the prices associated with the things on your list. Add the cost of every item on your list to estimate your total cash requirements.
Your phone case business must own assets including computers, printers and furniture. Other necessary business assets are cash registers, credit card terminals and inventory. Assets last for a long time over which you can depreciate them to save money on taxes.
In addition to assets, virtually all businesses must have inventory. Your raw material inventory includes everything used to make your phone cases. Examples of raw material items include the dye, templates and blank cases. During production, you move raw materials into your work-in-progress (WIP) inventory. The WIP inventory encompasses the cost of direct materials, direct labor and other production costs. Finally, the finished goods inventory refers to your phone cases that have been completed by the production process, but have not yet been sold to customers.
Your startup will have overhead expenses including legal, administrative, marketing and selling costs. Add the cost of electricity and other utilities used for production as part of the cost of your phone cases. Remember to calculate your labor costs and taxes as you prepare your financial plan.
Your cost estimates should cover your first full year of operation and the cost of your capital. You need to have enough resources to cover at least 6 to 12 months of costs and expenses before you actually start making a profit.
Financing methods
Common financial strategies for startups use multiple funding sources. You should consider all available options if you have insufficient cash on hand to open your phone case business. For example, you can get started using your personal credit card, but you might also need to get a loan from a bank or finance company.
Finding a strategic partner can help you raise low-cost capital. Use your business plan to attract investments from family members, friends and angel investors. You might also want to post your plan to a crowdfunding website to attract investors.
In addition, consider using a business incubator that provides office space and equipment to reduce your startup costs and connect with available funding options. Another option is to enter into licensing agreements and have other companies pay you to produce phone cases for their brands.
Financing your startup takes work. Patiently look for affordable financing options and negotiate terms whenever possible. Part of the funding process might require you to defend your business plan and deliver samples before investors will trust you with their money.
Financial issues cause many businesses to fail. Make your startup different by preparing a realistic financial plan. Get started by calculating the cost associated with producing and selling your phone cases. Estimate your selling price and your path to profitability so you know how much money you need. Armed with a solid business plan and a viable financial strategy, you can get the financing you need to open a stable and successful phone case business.
Chapter 4: Marketing and Advertising
Marketing your phone cases effectively is more important than the quality and design of your product. Without successful marketing strategies in place, you may have the best design and highest-quality products but your business will not be sustainable.
The usability and appearance of your phone cases matter. However, people need to hear about your company first, in order to buy your product. If they don’t know you exist, you will have a hard time achieving sales.
Successful marketing is an on-going process that starts before a company is launched. Think about your marketing strategies in advance and don’t forget to include them in your business plan. Your marketing plan will depend upon the time and money you are able to invest.
In general, you should market your product both online and offline. Also, make excellent customer service one of your most important marketing strategies. Satisfied customers are likely to become loyal to your brand and bring in even more new customers, thus allowing your business to expand.
Online marketing
Digital marketing will help you reach your target market, regardless of whether you operate your phone case business online or offline. The following are some online marketing ideas that will help you promote your phone case business:
- Launch and optimize your website
Nowadays, every business should have a website that offers extensive information on their products and services. The website should include contact info, product photographs and specifications, prices and payment options as well as customer reviews wherever applicable. Have your website optimized for search engines, as well as for mobile devices. In addition, consider hiring an SEO expert that will make your site more visible in Google search results.
Make sure that your website is easy to navigate and customer-friendly. A modern design that includes pictures and sufficient engaging content will attract visitors and help convert them into customers.
- Choose your e-commerce platform
If you want to sell your phone cases online, you should set up an e-commerce website. There is a wide variety of e-commerce platforms available to choose from. These platforms simplify many aspects of online businesses, ranging from product and category pages to checkout processes. Some of the most popular platforms include Shopify, Bigcommerce, Volusion and OpenCart.
The choice of the e-commerce platform for your phone case business will depend on your budget. In addition, some e-commerce platforms are more customizable than others. Carefully research all your options before you decide to use a particular platform for your phone case business.
- Use social media to advertise your brand and connect with people
You can use a virtually limitless number of social media accounts to advertise your product and engage your target audience. Keep in mind that this requires time and a regular activity from your part. Make sure to answer all the questions from your potential customers and provide feedback for comments. You can also find free and low-cost online apps that will help you coordinate all your social media accounts. In addition, use paid social ads to reach even more people if your budget allows you to. Finally, remember to create a LinkedIn account in order to reach prospective business customers, partners, and vendors.
- Create a blog
Integrate a blog into your website or e-commerce. Use the blog to provide up-to-date information about your industry and products. This helps to establish your company as an authority in the phone case industry and attract more visitors to your website.
- Take advantage of listing opportunities and business forums
Create listings and free pages on online directories such as Google my Business page, Yelp and Yahoo Local. This will enable potential customers to get in contact with your business more easily when they begin researching phone cases. Similarly, participating in online forums that pertain to your type of business will allow you to connect with your target audience and other business owners.
- Use e-mail to reach influencers and customers
Contact your LinkedIn connections and phone case business influencers via e-mail. Don’t be afraid to ask about their advice and suggestions. If you are trying to reach potential clients via e-mail, make sure you have their consent before you send them an e-mail. This means that your website should offer potential customers the opportunity to subscribe to your e-mails. Choose your subject line with care and offer your clients the opportunity to unsubscribe.
Offline marketing
While digital marketing is a ‘must’ these days, do not underestimate the power of offline marketing. Offline marketing offers a unique value and can help create long-term relationships with customers. The following are some offline marketing ideas that you can use to advertise your phone case business:
- Use creative branded stationery and printed materials such as business cards and envelopes. Your correspondents and on-premise shoppers should see a consistent presentation of your brand as they learn about your products, so use the same logo and color scheme on all your online and offline materials.
- If you have enough financial resources, use press releases to publicize the launch of your startup and spread the word of your high-quality phone cases.
- Distribute promotional items, such as pens or mugs, that bear your company logo to build awareness of your brand.
- Consider using local media to market your phone cases. Include newspaper advertising as well as television and radio commercials and billboards.
- If you have a physical store, advertise your products to every shopper that comes through your door, but make sure to avoid aggressive marketing. Subtle face-to-face marketing creates lasting impressions that can result in recurring sales.
- Use guerrilla marketing tactics to attract attention. Unconventional creative activities such as leaving sticky notes in random places or creating sidewalk advertisements create curiosity about your brand and draw attention to your products.
Customer Service
Satisfied customers create brand ambassadors who tell other people about their positive experience with your business. You should never forget that angry and dissatisfied customers will also share their experiences. In fact, customers who were unfairly treated can leave irate online comments that go viral. Don’t take chances with your reputation. Instead, choose right now to satisfy every one of your customers.
Customer service as an affordable marketing tool gives you a chance to establish a competitive advantage that makes your brand of phone cases stand out from others. You need to make relationships, not sales, your top priority.
Active listening on your part will enhance customer satisfaction, particularly when dealing with disgruntled clients. Avoid arguments and work together with customers to find satisfactory solutions. In addition, admit your mistakes and never try to fool your clients.
Make sure to treat your customers with respect and always honor your commitments. It is important to provide shoppers with several ways to contact you and promptly respond to all their inquiries. Your aim is not to simply meet customer expectations, but to exceed them.
Now that you understand the importance of marketing to your phone case business, it is time to create a strategy that communicates your brand values both online and offline. You can accomplish much with free and low-cost activities using creativity and ingenuity, but make sure to add customer service excellence to your marketing toolbox.
Chapter 5: Vendor Selection
All businesses rely on partners and vendors. For your phone case business, you will need to find the right suppliers who can deliver the quality and quantity of materials needed to make your products. Without dependable vendors, you will have difficulty scheduling production and fulfilling orders. Your business could fail if you don’t have the right people on your side.
A phone case business requires at least three essential components, depending on your business model. First, you must have blank phone cases. In addition, you need some winning designs and an access to a specialized UV printer. If you chose to manufture more unique case designs, you may need other materials such as templates, glitter, fabric and paint.
Before you start your phone case business, you need to choose vendors that will continually supply your business with items such as blank phone cases and materials used to decorate the cases. Also, you will need to find appropriate design and printing marketplaces. Establishing the costs of these services and materials will help you determine the price of your final product.
Vendor Selection Criteria
Budget conscious startups often focus on the price of their materials. After all, you need every dollar to work hard for you. However, you should avoid obtaining low-quality goods in exchange for a bargain-basement price. Otherwise, your finished goods could fall short of your customers’ quality standards, resulting in a high refund rate and a damaged reputation for your business.
The model of cases that you choose to sell can also affect your vendor selection. Supposing that you want to only sell cases that fit a certain brand of phone, you must find a vendor that sells blank cases that fit that brand and provides any additional services that you need.
Choosing established vendors that have good reputations can help ensure that you get high-quality materials. Sometimes, however, you might have to achieve a balance between affordability and take chances on an unproven supplier. Still, established vendors will often offer you favorable terms of sale and robust customer service that justify their high prices.
Dependability is another factor that guides your choice of vendors. Your suppliers must make themselves available to answer questions and resolve problems with your orders. Check to see if a prospective supplier has good reviews from other business customers. Always inquire about the time it takes to receive delivery of your materials so you can plan your purchasing activities accordingly.
Vendor Selection Process
Use multiple sources of information to create a list of potential vendors and then narrow your list to the ones that you will seriously consider. You can talk to your friends and acquaintances in the business community to get their feedback about the companies from your list. If possible, talk to people who have done business with each supplier before submitting customer application.
Try using business directories such as Thomson and the Yellow Pages to learn more about possible vendors. In addition, you can join trade organizations that include other phone case businesses to meet people who can suggest appropriate vendors and share their experiences with the names on your list. Your local Chamber of Commerce might also have resources or members who can help you choose the best vendors for your startup.
Should you need further guidance while choosing vendors, you can visit trade shows and exhibitions where prospective vendors show their products and market their services. Trade publications can also supply you with valuable information.
Request additional information from your possible vendors by submitting a Request for Information. Next, write a Request for Proposal or a Request for Quotation in which you specify the requirements for your business and phone cases. Describe the materials and services you want to buy, including their quantities. Finally, evaluate and compare the responses you get. When you find the vendors that best fit your business model, negotiate acceptable terms of sale and prepare to submit your first order.
Take a step-by-step approach to your vendor selection process, since your choice of vendors will directly impact your business success. When you choose the right suppliers, you will have reliable partners who can help you produce the goods you need to sustain your business.
Chapter 6: Launching Your Phone Case Business
Whether you choose to have a one-day event or a series of activities that stretch over several days, your business launch should serve to attract attention from your target market and set the stage for long-term operations.
Resist the temptation to splurge on an overly expensive event. Instead, let your budget guide your launch plans. You should have fun launching your business, but don’t forget that the launch sets the stage for your future business success.
Launch Your Business
Choose the right channels to announce the launching of your business. You should target the channels that will reach your potential customers. The channels can include a blog post on your website, an announcement on your online store, an event or even a press release. Focus on one mail channel and use other channels, such as social media and e-mail, to support your main post or event.
Create a date and time for your startup launch that accommodates the schedule and lifestyle of your ideal customers. If you have a physical store, you can hold your launch event there. Also, consider using webinars, live social chats, video streaming and other tools to expand your target audience.
Keep your launch activities aligned with your goals by building an appropriate narrative. Throughout the event, communicate the essence of your firm and focus attention on your product and brand. As your event progresses, make sure to addresses the needs of your customers.
Your knowledge of your customers’ habits and opinions will help you pitch your brand to them. Use facts to sell your product and reinforce your most important point throughout the launch event.
After The Launch
Leverage the momentum of your launch event to build your business. Get feedback from your attendees and customers in order to improve your business plan. You can use the ideas that got the most traction during your launch to optimize your long-term operations.
Prepare for the surge in sales that might follow your launch by having on hand an ample selection of phone cases and supplies. Furthermore, you should double-check your website to make sure that it functions properly and can handle a potentially high traffic volume. Test your e-commerce store, if you have one, to ensure that your customers will have an easy shopping and checkout experience.
Continue to develop your online presence or physical store and optimize your business processes. If you stay focused on making your business efficient and dependable, you can attract sales and serve customers long after the surge from your launch event has faded. Don’t forget to interact consistently with social media users and brainstorm for ways to find new customers.
Launching your phone case business gives you a chance to introduce your brand to the world. Focus your event on a central message that appeals to your target market. In the aftermath of your event, act on the feedback you have received by correcting problems and implementing suggestions. If you continue improving your business after your launch event, your business will grow and prosper.
Conclusion
Motivated by your vision and courage, you have decided to open a phone case business. Like any business, however, you must go beyond your initial desire to plan and prepare for your new venture. When you discipline yourself to create a business plan, you will stay focused on your goals and have a useful tool for attracting investors and securing financing.
You must invest careful thought into your business model. Regardless of whether you operate a brick-and-mortar store, e-commerce website or both, you need to choose whether you operate as a sole proprietor, LLC, partnership or corporation. The name of your business should have a high priority because it must differentiate your company from competing brands while inspiring confidence and communicating your values.
The time you spend calculating the cost of doing business and your amount of overhead will pay off in the long run. You can avoid many expenses, including rent, by operating only online from your home. In any setting, your business will have routine expenses for supplies and materials as well as one-time costs for fixtures and equipment. Additionally, you will have expenses for categories such as payroll, security and utilities.
Many companies start well but eventually get choked when they run out of cash. As you prepare your financial plan, try to have enough money to operate for at least six months after you open. The cost of capital from your chosen financing options will affect your bottom line. You can borrow from friends and family members and find business partners to save money, but you might also need to use a personal credit card or loan to get started.
As you have learned, you must identify and comply with all applicable local, state and federal laws and regulations that apply to your phone case business. Buying permits and licenses and paying taxes will keep your business legal as well taking care of your responsibility regarding workers compensation and unemployment insurance.
Marketing your product requires you to survey your competitors and create a sustainable competitive advantage. Communicate your message using digital marketing tactics including content and social media as well as paid advertising. Local options for advertising such as billboards and grill marketing can also contribute to the success of your business.
Find the best suppliers for your business before you open, so you have the knowledge you need to set prices. Also, selecting your vendors in advance will help you plan your purchasing to guarantee the availability of the materials and products needed to fulfill your orders. Make sure to balance your desire for quality with your need for affordability.
As you plan to launch your business, decide whether you want to have a grand opening day or hold a series of launch events. Use the feedback you get from your launch to refine and improve your business plan and model. You should also commit yourself to ongoing improvement to keep your phone case business efficient and relevant.
Starting a phone case business lets you sell a product that has existing demand and proven marketability. You also will have relatively low start-up costs and access to multiple sales channels. When done right, you supply your customers with a wow-factor while earning margins as high as 600%. Your decision to launch a startup requires a lot of effort but it will inevitably reward you if you invest the proper time, effort and money.
IMAGES
VIDEO
COMMENTS
Every company needs an effective phone plan for their business. It’s important for all your employees to be able to communicate with each other. You also need to ensure that you can take phone calls from clients when they need to reach you.
When you visit an AT&T cell store, you want to make sure that you get the most out of your experience. Whether you’re looking for a new phone, plan, or accessories, there are a few tips and tricks that can help you get the best deal and ser...
Are you in the market for a new phone plan? Maybe you’re looking to switch providers — or maybe you’re just not too sure about how phone plans work. Whatever the case might be, this guide is for you.
In as much as people still make use of cell phones, the demand for cell phone accessories will continue to rise. Cell phone accessories store business is indeed
According to business professionals, mobile accessories yield higher profit margins compared to selling the mobile phones themselves. Let's learn more about
CELL PHONE ACCESSORIES BUSINESS PLAN GUIDE · Starting a cell phone accessories business does not require massive capital. This means you do not need to wait
How To Create A Phone Accessories Business Plan · Be sure that the business is for you. The first step towards starting any successful business is to find out if
Phone Accessories Business Plan in Nigeria · Phone Cases (Pouches and sleeves, Holsters, Shells, Skins, Fitted cases, Bumpers, Flip cases and
Our goal in launching a phone accessories store is to establish a standard store outlet in Enugu. Although our phone accessories store may not
Phone Accessories Business Plan in Nigeria will be discussed in this article. This is a sample business plan to help you to execute this business.
View Homework Help - BUSINESS PLAN from EM 211 at Technical University of Munich. BUSINESS PLAN SALIM PHONE ACCESSORIES P.O BOX KILIFI PRESENTED BY: SALIM
7 Steps to Start Your Mobile Phone Accessories Business · Analyze the Market · Find The Right Location · Source for capital and investments.
Our store is dedicated to provide customers with wide range of Mobile phones providing high customer satisfaction by rendering excellent service
Research the market to discover what consumers want from their cell phone cases. Learn how to write a successful business plan. Name your business, select