Many people are using mobile phones nowadays and from time to time, they break down. The demand for mobile phone accessories is on the increase and it is a booming business in Kenya. You can start a retail cell phone accessories business or a wholesale business. In this article, we will show you to start phone accessories business.
Carry out a Market Research
You need to figure out if there is a demand for mobile phone accessories in the market. This business does well if there is a market gap you can address. Find out if there are other similar businesses and the market competition.
Write Phone Accessories Business Plan
- Expected startup costs
- Business licenses
- Sources of capital
- Market research analysis
- Marketing, and sales strategy
- Phone accessories suppliers
Identify Cell Phone Accessories Business Location
The next thing is to find the best location for your business. You can rent a kiosk in high traffic zones. Small kiosks in major tows can go for Ksh 15,000 a month. If you can afford to set up the shop in major towns, you can access a larger market.
Also, ensure that it is a secure location to prevent losses of your stock to thieves. It is best to establish a business where there are no other similar businesses.
Read more: How to start cosmetics business in Kenya.
Secure Business Licenses and Permits
You need to ensure that your mobile phone accessories business complies with government regulations by acquiring business licenses and permits. You would need to secure a single business permit that goes for around Ksh 5,000. However, the price varies from one county to another.
For instance, if you are in Nairobi, you need to pay a signage license to advertise your business. You can get the licenses from the municipal council or the County Government.
Get a Reliable Supplier
You need to find a supplier who can supply you with mobile phone accessories at low costs. Getting a one-stop supplier can be a great deal and can reduce transport costs.
Stock Your Mobile Phone Accessories Shop
The next thing is to stock your business. It is best to start small and increase your inventory as the demand and customers increase. Start by stocking fast-moving accessories like chargers and earphones. If the demand is high, you can expand to a wholesale business to supply mobile accessories to other shops.
These are some of the cell phone accessories you need to stock.
- USB type A, B and C cables
- Car chargers
- Power banks
- Screen protector/guard
- Mobile phones
- Mobile phone covers
- MicroSD cards
- Flash disks
- Mobile phone batteries
Advertise your Cell Phone Accessories Business
The next thing you need to do is promote your business and tell people to know what you are selling. One of the ways you can promote your business is by having an online presence.
For instance, you can create a social media profile like Facebook page for your mobile accessories business and invite people to like the page. People will reach out to you for their needs.
Is Selling Cell Phone Accessories Profitable?
Cell phone accessory business in Kenya is very profitable if you have an influx of customers. That is why business location is critical and should have less competition. Most cell phone sellers add a profit margin of 25 percent. This means that if you make daily sales of Ksh 6,000, you will have made a profit of Ksh 1,500.
What is the Cost of Starting Phone Accessories Business in Kenya?
To start a medium mobile phone accessories business, you need around Ksh 100,000. You can also start small with Ksh 50,000 and grow your business as the demand increases. However, make sure to stock fast-moving items first.
Summary of How to Start a Phone Accessories Business in Kenya
The cell phone business is a lucrative venture to start. You can supplement your revenues by offering other services like mobile charging and money transfer services like M-Pesa and Airtel money. Learn about the business before expanding. With time, you can start selling accessories in wholesale.