IN this post, we are going to discuss how to start phone accessories business in Nigeria. Whether we like it or not, phone is just part of us. We use it on a daily basis. As important as phones are to us that is how important those accessories are too.
In case, you have not checked our post on how to start a mobile phone business, do well to check it out at the end of this post. But in this post, we are focusing on the Phone accessories business.
Is it worth starting the phone accessories business in Nigeria? How profitable would it be? How much can you make from it? These are some of the questions we are going to answer.
1. Opportunities in the phone accessories business
As we have mentioned in the introduction, phones are now part of us whether we like it or not. We use them constantly. It gets to the point for some people not to be able to do without it. If the phone is broken down, they feel bad, so guess what they value their phones.
Anything that is important needs to be taken care of, besides some parts or accessories that come along with the phone when bought newly get damaged and need replacement (thanks to made in china products)
Another opportunity is the number of people that are using phones and in turn need those accessories.
2. The skill needed in this accessories business.
Obvious selling phone accessories do not require a Harvard university degree. The only thing you need is how to sell. Just improve your skill in marketing. You can learn how to deal with common objections we face in sales by checking some sales guru online.
3. The capital needed to start the business
Like any other business, to start, you need capital. How much should you plan for? Well, let us start with the shop.
For a decent, clean shop that will suit this business, you need a shop of 50.000 naira to 100.000
You will need to setup the shop that means a table, a chair, customers’ chair, display, show-glass, and the rest … All these can cost you not less than 50.000 naira.
Now, let us talk about the goods. How much do you really need? It all depends on your pocket. But if you are starting at a small level, you can budget for nothing less than 200.000 nairas.
One thing with phone accessories is to have almost what customers are requesting for also different varieties since some are not buoyant like others.
4. Get a shop
If the capital is ready, it is time to look for a shop. It is important to have your shop at a good location. If your shop is at a good location, it is likely you will get your return on investment.
Put into consideration the following while you are looking for your shop:
- The rent: Let is not be too expensive
- The location: Crowded place is recommended
- Security: Is it an area full of bandits?
5. Return on investment (profit)
How much can you make from a phone accessories business? Most people we know sell their products time two or three of the amount the bought them. In other words, if you buy a charger for 500 naira for instance, you can end up selling at 1000 naira or 1500 naira.
Let say, you are making a sale of 10.000 daily, that’s at least 5.000 naira gain on a daily basis. Isn’t that profitable?
6. Management
For your shop to last for a long time, you need to manage ti very well. You may want to take a look at the top 10 causes of business failure in Nigeria.
In that post we have gone much in dept on this section which is good management.
Basically, you should avoid an easy-going in your business. You need to be rigid and firm.
7. How to get your first sales
Obviously as a new business that is just opening up, you will need customers to survive. Follow these steps to get your first customers:
- Talk to your friends and encourage them to talk to others as well.
- If you have enough capital, start marketing your products online.
8. How to grow your business
Growing your business means more cash flow. To generate more cash flow, you need more sales. Now the question is how to get more sales? The answer to that question is marketing. You need to push your products out.
Someone somewhere needs your products, it is left for you to reach him. How do you reach people?
- Get more customers online: Get a website, start selling your products there as well not just the physical store.
- Promote your business on social media: Facebook and Google ads are great tools you can use to grow your business to the next level. They have so many features we can’t finish talking about in this post.
- Referral: Reward anyone that brings a new customer to you.
9. Extra income from phone accessories business
In time, you may decide to go into the mobile phone business as well as it is also very profitable. We have a detailed guide on that very business on this platform.
10. Business registration
We advise you to register your business. It gives more credibility to your shop and people can easily trust you.
Conclusion
To wrap up this post, we can say, phone accessories business required not a huge amount of money so, with your 300.000 naira, you can start somewhere and grow it to where you desire. We wish you a happy hustling.
Where and places to get cheaper phone accessories in whole for sells
Alaba international, Lagos.
Please I need a pitch idea of mobile phones and tablets.
Please I need a trusted contact were I can buy phone parts and accessories very authentic and at a cheaper rate. Am just starting
Presently, we don’t have any trusted supplier we can recommend to you please.
Sir, Who can you recommend? And how can i get in touch with you?
call or whatspp us on +2347030138408 please.
Phone Accesories business is a very lucrative business you can start even with 10k or more and grow.
I started with 6k but made a profit of 7k at my first attempt. That’s if you have marketing skills.
Am into different business but phone Accesories is on of the most lucrative I do n with lesser stress.
Now I sell in wholesale price as we import from China. With the connections I got as of then.
But my advice is you must be careful to know where you buy so as not to buy from a retailer aswell.
It’s a very lucrative business,
You’ll thank the poster you did venture into the business.
Great article.
Really helpful.
Thanks.
Please can you make special emphasis on the phone accessories that are moving in Lagos and Nigeria as a whole. Thanks.
please consult someone that is into the business and that has the experience. Ask as many as possible to draw your conclusion. There is a way you approach someone that will make him feel free to give you information.
I agree
I MADE same simple and friendly feasibility studies starting from yesterday and I am still on. 100 percent of my sources confirmed to me that the business is lucrative. 1 want to kickstart with 800.000 naira and I am optimistic I will succeed.
Great.
Wow nice one and well detailed article.
I’m also into the phone accessories business precisely at Ikotun, I must confess that the business is very profitable. All it requires is patience, discipline and determination
Please what business can a lady do in a tyre market.
Very helpful article
Please where can I get phone accessories at a cheaper price but quality around Akwa Ibom state
Phone accessories business remains one of the most lucrative businesses anyone can venture it.
It is a business you can start with as little as 50k and grow iit into millions in a short time.
As long as you have a plan or ready to be mentored then be ready to make it.
I just opened my second shop recently. In fact, today being 20th makes it one month.
So go for it.
Thanks for sharing your experience with my audience.
Good morning. Thanks for sharing. Please i would loved to have ur number please so I can call you on phone for more guide on how I can start.
Pls recommend where you buy from. Thanks
Thanks so much!! It’s help alots…
Glad you enjoyed it.
Wow this has help me alot! Thanks so so much! I want venture into it.
I appreciate your commnent.
Please, my people I want to know the types of phone accessories that is lucrative in Akure I am planning to start as a beginner . Thanks!
My people what is the minimum capital I can start with
You can start with as little as 50k
God bless who so ever has his time for this here I really learn here
Glad you enjoyed it.
Please l want to know where l can buy phone accessories and mobile phone in a cheaper rate, am planning to start it before ending of this year also include your number so as to ask for Fourth information within aba Thanks you
Alaba International Market Lagos
Am greatfull have started with the little I av
Very nice guideline
It have been my dream business
Thanks for the advise, I really learnt a lot .
Please I want to venture into it but I don’t have capital, no shop too but I love the business, I wish I can find a supplier that will be giving me goods so that I will be bringing in return what we agreed on.
And also , how can I start it if I didn’t see a supplier as I don’t have shop not capital. Thanks