Phone sales business is a very lucrative business, if you are in doubt, take a trip to Computer Village or Alaba International market. New models of different phones are being released every year. Most people will want to change their phones each year because they don’t want to be left behind. The most amazing thing is you don’t actually need to have a degree before you start this business. In this post, i will tell you everything you need to know before you can start your own phone business.
This is the first and the most important part in establishing any business. It is highly necessary for you to carry out extensive research at the beginning of any businesses. Do a reconnaissance survey, know the dos and don’ts, your competitors, and all other things that have to do with the business.
Always operate with a business plan because as the saying goes; failure to plan is planning to fail. A good business plan is very important because it can serve as something you can fall back on. Hence, you can return to it whenever you seem lost in the process of building your business. In addition, a good business plan can get you a bank loan easily.
It is better to start small when establishing a new business. So, you don’t need up to 1 million naira to start a phone sales business. In fact, you can start a phone sales business with a minimum of 100 thousand naira. Furthermore, the capital of the business should into account the cost of getting a shop, as well as other stuff.
You have to select a location with a lot of human traffic. It can be in your neighborhood or an industrial area. The fact is, you need a lot of crowds to boost your brand and develop your business. Also, the shop should be well designed in order for it to attract customer`s attention.
Your business should be registered in order for it to last within a long period of time, and the sooner the better. Besides, the Nigerian government has reduced the registration fee to an affordable rate. Registering your business will make all your business transaction legal and it will also give you a sense of freedom.
Make you let people know about your business and your location. You can make flyers, complimentary cards, or run an advert.
Your business should be properly managed in order to ensure its survival. Otherwise, you will not make a reasonable amount of money and the business can wind up at a very early stage.
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