You’ve decided you can start your own successful mobile repair shop. You’re ready to make the commitment and take a leap of faith, as all entrepreneurs have to do.
But now, it’s time to actually start your business. Where do you even begin? There are a ton of decisions to be made about organization, services, money, and so much more.
It’s essential to have a clear and concise plan before launching your mobile repair shop. Luckily, we’re here to give you a few tips on getting started.
Mobile Repair Shop: Getting Started
There are several decisions you need to make before you can take the steps to launching your company.
Here are some of the things you should consider before starting your mobile repair shop.
Determine a Budget
Money is going to be the most important factor when starting any business. No matter how great your service or product is, it won’t matter if you run out money.
To determine a budget, you’ll need to consider how much you’re willing to spend on the expenses for a phone repair company.
The first expense will be inventory. How much do you need to spend on the actual tools you’ll need to repair mobile devices?
Then, you’ll need to know how much it will cost to actually have a shop. You can opt to go with a mobile shop, which travels to its customers instead of actually having a store.
This option will save you money in the beginning but will limit your profits because you will only be able to work on one device at a time.
Having a store will cost more due to paying rent and utility bills, but will allow you to serve several customers at one time.
Also, consider if you’ll need to hire additional employees for your company. This is a considerable expense that you may want to avoid when you’re first starting out.
Determine Your Target Audience
A mobile repair company can have a wide range of services, so you need to decide on what specifically you want to do.
When you’re starting out, you may need to limit what kinds of devices you have because your tools and inventory will be smaller.
You should consider only working on specific phones, perhaps iPhones or Androids. You can expand to other devices once you gain a profit and can afford the necessary tools.
Determine How Much You’ll Earn
It may take a while before you actually start to turn a profit, which you should prepare for by having money saved up.
Profits can be steep at first because you won’t have a large customer base, and you’ll have to spend a lot of money on sorting out issues like tools breaking.
You need to make sure that even with things going wrong in your shop, that you’ll eventually start making a profit, otherwise your company will go out of business before you know it.
Figure out when you should start making a profit, and how much of a profit you’ll make, so you can prepare beforehand and protect your business from failing.
Make Sure It’s Right For You
This advice goes for anyone who’s starting a new business. You’re going to face hardships, challenges, and loss before you experience any gain.
Expect to work 80+ hours per week and don’t expect to make a profit for the first year.
Starting a mobile repair business is challenging, and you need to be sure it’s something you’re passionate about before putting everything on the line.