Congratulations on your decision to open a cell phone store!
Owning a small business is a rewarding and profitable endeavor, and we’re so excited to help you as you start your entrepreneurship journey.
Diving headfirst into the world of small business ownership might seem daunting at first — but once your cell phone store is up and running, all the research and hard work will be worth it.
Let’s walk through exactly how to open a cell phone store in six simple steps.
1. Pick a Niche
Before you make any other key decisions, you need to pick a niche for your cell phone store to fill.
What types of products and services will you focus on? Will you prioritize repairs and maintenance, or will you primarily sell phones and accessories? What will set your cell phone store apart from the competition?
Spend some time thinking about these questions and setting big-picture goals for your business; we promise you’ll thank yourself later.
2. Consider Your Budget and Research Startup Costs
The next important step in how to open a cell phone store is to consider your finances.
Launching a small business requires a significant investment, and you’ll need to research the average startup cost for cell phone stores in your area, calculate your expected expenses, and decide where your funding will come from.
The cost to open a cell phone store ranges widely based on location and niche. A smaller store focusing primarily on accessories may cost as little as $10,000, but a large store with full-service repairs and wide-ranging inventory might run you over $70,000.
3. Select a Location for Your Cell Phone Store
Once you’ve determined a budget, your next step in opening a cell phone store is to select the right location.
Your options will be limited by how much you can spend — but there are other key considerations. Here are a few questions to keep in mind as you scout out potential locations:
- How close are other cell phone stores to the location? Will you have to compete with them for business?
- How much foot traffic does the location get?
- How easy is the location to access? Will customers struggle to find it, or is it easily visible from the street?
4. Select a Carrier and Secure Your Inventory
After you’ve settled on the right location, you can start stocking your store!
Before you begin ordering inventory, you need to decide what types of products you plan to stock. Here are some general items that cell phone stores commonly carry:
- New cell phones
- Used cell phones
- Cell phone cases
- Cell phone chargers
- Screen protectors
- Earbuds and headphones
- Parts for repairs
Your budget and your store’s niche will determine exactly what you choose to carry, but these ideas should get you started.
You’ll also need to decide whether to partner with a carrier. Since many carriers offer commissions when you sell one of their products or plans, partnering with a carrier can give your profits a boost.
When choosing a carrier, make sure to consider which ones have the strongest market presence in your area — and the most profitable commission structure.
5. Hire Your Team
Once you settle on a location and start ordering your first batch of inventory, it’s time to build your team.
Your team will be the face of your cell phone store, so it’s important to hire employees who are knowledgeable, friendly, and customer service-oriented.
It’s also important to provide excellent training to your team. Make sure your employees understand what products and services you offer — as well as what makes your cell phone store unique and sets you apart from the competition.
6. Choose a Cell Phone Point of Sale System
The dream of owning your own business should start to feel real at this point! Your next step in how to open a cell phone store is to implement a point of sale (POS) system.
Your POS system is the engine that keeps your cell phone store running. It processes all your sales transactions, keeps track of your inventory, and generates detailed sales reports that help you keep an eye on your business’ financial health.
This tool will grow with your business and help you become more profitable over time, so it’s critical to choose the right one. Here are a few features to look for when shopping for a cell phone POS solution:
Launch Your Cell Phone Store the Smart Way
Learning how to open a cell phone store is a long and winding journey, but we’ll be here to help every step of the way!
CellSmart POS, our cell phone-specific point of sale solution, has all the tools you need to open and grow your small business — including powerful inventory management features, an industry-leading repair management system, and more.
See CellSmart POS in action by scheduling a live, personalized demo today!
