Business Ideas | Small Business Ideas: Start Your Own Cell Phone Business

Monday, September 1, 2014

Start Your Own Cell Phone Business | How to Start a Cellular Phone Business

It seems like everyone is looking for ways to start a business of their own. Many people are curious about how to start a cell phone business. The mobile phone industry is one business that always seems to flourish no matter where you're located.

A cell phone business can prove to be an incredibly profitable business. As long as you follow the correct steps to beginning your business, starting your own cell business will be much easier.

The ubiquity of cellular phones in the United States makes for a great business opportunity for an entrepreneur looking for a strong industry. Moreover, developing a website allows you to sell to customers the world over. "The Internet has no geographical boundaries and you can sell a cell phone to anybody anywhere in the U.S. where with a traditional business you are limited to your town or city," according to A Touch of Business website.

Instructions:

Step 1

Estimate startup costs, which include but are not limited to lease money, inventory, store fixtures such as display cases, equipment such as point of sale system and computers, legal registration fees, and hiring employees. Add up all expenses and prioritize each according to need. Use the Small Business Administration's loan programs to apply for a commercial business loan.

Step 2

Get vendor contracts. Contact cellular phone manufactures for the names and addresses of inventory supply vendors known as wholesalers. Phone each approved vendor and request a new mobile phone retailer catalog. Ask each vendor if it requires a minimum opening order or minimum replacement orders. Also inquire about getting a credit line, commonly called "terms" in the retail industry.

Step 3

Register your cellular phone business. Hire a lawyer or use an online legal documentation website, such as Legal Docs or Legal Zoom, to write your articles of incorporation. File your articles with the secretary of state and register your business' name with the state or county clerk. Apply for a federal Employer Identification Number with the IRS, commonly abbreviated as EIN or FEIN.

Step 4

Lease retail space. Lease retail space or kiosk space in a high-traffic area, preferably one with eateries and other retail stores nearby. Retail lease space is generally leased per square foot and most often requires the occupant to pay a small portion of the property taxes and building maintenance, called a "NNN" lease or "Triple N" lease.

Step 5

Publish a website. Create a website using software or an online website template builder, such as GoDaddy, Microsoft Live or Yahoo. Add an e-commerce interface to allow visitors to purchase mobile phones and accessories directly from your website. Run a spell and grammar check, and proofread all text before publication to the Internet.

Tip

When you are trying to start any business, let alone wanting to know how to start a cell phone business, you need to know what truly goes into starting a business and making it run. You will need to check with your county clerk to find out what paperwork is required to be filed in order to open a new business. You will also need to apply for a tax ID or EIN number through the IRS (form SS4).

Obtaining products - If you decide to become an authorized dealer, the cell phone company you use will help connect you with distributors. You will want to gather up as many products as you can afford to get started.

For your cell business, you will need accessories such as headsets, chargers, and ear pieces, and of course phones. Contact other authorized cell phone dealers and see what you need to do to obtain contracts with the companies they provide services for.

Location - When learning how to start a cell phone business, one of the most important aspects of having a successful business is having a great location. You want to make yourself known by opening up in a prominent part of the neighborhood where your store is easily accessible. If you don't have the required capital to open a storefront your next best option is the internet.

Grants - Apply for as many grants and loans as you possibly can. The extra start-up money will help your business get off the ground in no time. The Government loves to assist entrepreneurs that are trying to make a difference in their lives. Go to your public library and grants.gov to find out about the different grant opportunities that are available for a start up business.

If all else fails there is always the internet - If your having a difficult time figuring out how to start a cell phone business, maybe you need to re-evaluate the location of your business altogether. Many people turn to the internet as a means to start their business, and then slowly expand from there. It may be best for you to open up your cell phone business online first, that way there is no rent to worry about.

In order to fully understand how to start a cell phone business you will need to thoroughly research everything from how to start a business to running a cell phone business. Be sure to read up on as much information as you can while you are here.

As an alternative, consider purchasing a franchise agreement with an established cellular phone company, such as T Mobile or Metro PCS.

References

3 comments:

Cell Phone BusinessDecember 11, 2013 at 7:09 PM
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Easy Tips and Ideas to Start Business

Although anyone can start a business, many people fail because of a bad product or improper research. If you want to start your own business, you can improve your chances for success before you even begin. In order to make your business successful, start strong and make sure that your idea will hold out for the long haul.

Have a Good Product

Ensure that you plan to sell something useful. Although you may think that your product is important or special, that doesn't mean the general public will agree. Ask friends, family and strangers what they think of your product. If they don't seem that interested, ask them why. With their suggestions, you can either improve the product or scrap the idea completely. According to Brad Sugars of Entrepreneur magazine, most small businesses fail because they sold a product that didn't have an adequate market. This also applies to small businesses that provide a service. A lawn-care business might be useful for part of the year in a northern state, but it is in-demand year-round in the south. Consider whether people will actually want to use your service and get constructive advice from those not afraid to give their opinion.

Research Local Businesses

Research local companies before starting up your own business. This will not only give you an idea of the amount of competition you will have, but it will also help you price your product or service. If you're looking to start a wedding photography business, you may find during your research that the market is over-saturated in your area. If not over-saturated, you should contact each business and ask them for a price list. Alter your prices so you can stay competitive with the competition in town. Researching similar local businesses will also help you decide where to locate your business location. Try not to start up a store or office close to another business of your type. If your small business is located away from similar business types, this will cause locals to choose you over businesses that are farther away from where they live.

Get Professional Advice

You may know someone who has started their own successful business. Ask him for advice and listen to his stories of how he started his company. You may gain useful advice on the good and bad ways to start a business. Local entrepreneurs can also introduce you to local product providers or advertisers that you may not have met without their help. Accept any advice with open arms, especially if the advice is coming from someone successful in the area.

How to Calculate Business Start Up Costs

Starting a business in no easy endeavor. It takes a great deal of research, perseverance and hard work. While sweat equity will make your small business more successful, you will most likely need real capital to get the business started. Before you start raising capital and/or investing your own funds, the first thing you need to do is determine the total start-up costs.

Step 1

Determine your costs of sales. For most small businesses this means inventory, the cost of raw materials, manufacturing equipment, shipping, packaging, and warehousing. However, not all businesses sell products. In this case, the cost of sales is primarily the direct labor involved in making the sale. For example, to open a small shoe business entails purchasing enough inventory ($10,000) to stock the store.

Step 2

Determine professional fees. Planning your business structure, i.e., limited liability corporation or general partnership, means hiring an attorney. There may also be the need to pay an attorney for help with establishing trademarks, copyrights, and patents. In this scenario, that puts total professional fees at an estimated $20,000.

Step 3

Determine technology costs. Technology can greatly reduce the cost of labor for small business if used effectively. Most small businesses require computers, printers, cell phones, website development, Internet access, software applications, information security, data storage, and outsourced information technology (IT) consulting. If the cost of technology is $10,000 to start, add an additional $5,000 a year for maintenance (hint: maintenance is not included in start-up costs).

Step 4

Determine administrative costs. This varies with business types and may include items such as business insurance, office supplies, product packaging, parking, rent, express shipping, desks, chairs, fax machines, phones, or anything else necessary to operate the business daily. A good estimate for start-up administrative costs would be $5,000 for the first six months.

Step 5

Determine initial sales and marketing costs. Now that you have your product, you need to let folks know about it. Sales and marketing costs generally include marketing materials for presentations, printing stationery, business cards, advertising, trade show events, and public relations. These initial sales and marketing costs can add up to $3,000.

Step 6

Determine the wages and benefits needed to secure a staff. This includes employee salaries, benefits, workers compensation, and payroll taxes. Let's put the cost of wages and benefits estimated at $20,000 for the first three months of business.

Step 7

Add all costs associated with starting the business for a total. Be sure to only include business start-up costs that will be incurred in the first three to six months of operations. For this example, the calculation is: $10,000 + $20,000 + $10,000 + $5,000 + $3,000 + $20,000 = $68,000.

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