Are you preparing to open your own phone repair company? Follow these 5 steps when starting your own smartphone repair business.
5 Steps to Starting Your Own Smartphone Repair Business
Are you considering starting up your own smartphone repair company? Or maybe you’ve already got the wheels in motion and are looking for some guidance.
With Americans dropping their phones at least four times a week, it’s clear there is a huge market for smartphone repair. But it’s difficult to know how to get started, and how to market your business.
Keep reading to learn some valuable information on how to start up your own smartphone repair
business.
1. Create a Business Plan
One of the most valuable things you can do for yourself when starting up your own business is to create a business plan. The old adage “fail to plan, plan to fail” is true—without sufficient planning, it’s impossible to predict the course or success of a business.
A few things to consider when preparing your business plan are;
- initial costs—what capital investments need to be made?
- what will you name your business?
- what is your target market?
- how much will you charge?
Once you’ve considered these aspects, you’ll have a good foundation to build from.
2. Register Your Business
Registering your smartphone repair business is important both for you and your prospective customers. If your business was to get into legal trouble, you would be personally protected from any lawsuit brought against your company.
The most common types of businesses are sole proprietorship, limited liability companies (LLCs), and
corporations. The best option depends on a number of factors.
3. Organize Your Business Finances
It can very quickly become an overwhelming task to track, record, and monitor your company finances.
The first thing to do is open a few bank accounts;
- a business bank account to separate personal and business expenses
- a business credit card to build your company’s credit rating
Once you’ve done this, speak to an accountant or financial advisor. If you plan on having staff, an
accountancy firm can handle things like payroll, which allows you to focus on other aspects of the
business.
4. Insurance and Certifications
Getting insured is another important aspect of setting up a new business. if you plan on having business premises, you’ll need to consider liability insurance. On top of insurance, certification can also help legitimize your business and give customers confidence in
you.
5. Marketing
Once you’ve established the important foundations of the legal and professional aspects of your business,
it’s time to start marketing your smartphone repair service.
This is a whole other topic, and there is a wealth of information online about how best to market a product or service.
Start Your Smartphone Repair Business With Confidence
Using the advice and information in this article, you should have a fairly good idea of what you need to do
to get started on your smartphone repair business.
There’s so much potential for growth, mainly thanks to human clumsiness, but it’s an opportunity
nevertheless! If you enjoyed this article, check out the Business section of the blog.
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Some other articles you might find of interest:
Make your business rock with these business plan writing skills:
Startup’s Guide to Write a Business Plan
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