Starting up a phone accessories business in Nigeria could be so challenging especially locating where to buy these goods at a very good rate so you can resale and make good profits.
Phone accessories business is indeed a very lucrative one and I guarantee you that you could make a whole lot of money from the business if you are really ready to follow these simple steps.
Starting a cellphone accessory business can be highly profitable and highly competitive.
In addition to cellphone franchises selling accessories, independent stores and kiosks are located in many malls and other public areas.
The internet is filled with websites and web stores eager to sell cellphone accessories.
However, if you can find a location with limited competition or create an online presence that outshines your competitors, you can build a profitable small business selling phone accessories.
There are several aspects to starting your phone accessory business.
Analyze the Accessory Market
There are a lot of competitors in the accessory market.
Do not shy away because of this because a healthy amount of competition is a factor for any successful business.
The phone accessories market is so wide that there is always room for another player.
Look for a niche such as extra power, cases, photo tools, water protection, drop protection, on-the-road or wireless charging, and introduce a product or feature that isn’t already available. Newness sells.
Find the Right Location
Location is extremely important for a cellphone accessory business.
Consider starting by renting a kiosk in a mall or plaza as this ensures that you are in a high traffic zone. Furthermore, by starting with a kiosk, you reduce your initial investment risk.
Meet Legal Requirements
You need to get a business license for your cellphone accessory business. Check with the government agencies in the area where you plan to conduct business to acquire this license.
If you plan to run your business as a kiosk, you will likely need a kiosk license agreement.
Choose a Supplier
Finding a manufacturer to work with helps you maximize your profits. While you may need to order in bulk – anywhere from 10 to 200 items at a time – you save a lot of money.
Depending on the type of s sphone accessories, they may cost less than $1 per piece but can be sold for many times that.
If you prefer to buy your inventory overseas, check out online marketplaces such as Alibaba or IndiaMart.
If you want to appeal to customer desires to buy products made in the U.S., consider suppliers such as ThomasNet or MFG.
Take Your Business Online
If you aren’t ready to open a physical store, launch an e-commerce store for your phone accessory business.
You can use existing marketplaces such as Etsy, Amazon or eBay, or you can open your own store with websites such as Shopify to establish your own brand.
Whether you choose to use existing marketplaces and their customer bases or start your own website, you should use online advertising methods to market your business.
Spend your marketing budget wisely. Use services such as AdWords and Facebook advertising to target specific customers who are looking for phone accessories.
Further promote your products by partnering with YouTube and Instagram influencers to advertise your products.
CONCLUSION
Marketing is very important and this is where smart work works. Utilize all the social media and internet to reach large audience, create a Facebook page and do a paid advert from time to time.
You can go digital marketing for goods.
