The Phone Accessories business is very profitable, some people call it blood money, that is how good it is. You can make 50-100% on each item you sell. It is a business that can make an ordinary man become a millionaire yet many people seem not to know. Fast moving products to sell are; fast chargers, Power Banks, Speakers, Smart Watches, Kiddies tab, USB Cords, Rechargeable Handheld fans, Memory cards, Earbuds, Laptops chargers, Stands, Tripod stands, Ringlights. You can start the business with 1.5M for the average. In this business location is what gives it success.
Steps to start the business
Look for a busy place that has a lot of foot walk
Employ someone and stay with the person for a while before you leave the shop for the person to manage. This message is for those who want to employ hands, not those who want to run it themselves.
As a starter, don’t go to Alaba market, go to a reputable shop in computer village. Ensure you get your dealer’s phone numbers because you will not need to purchase accessories frequently due to the high cost of transportation. When your goods are about to finish or there is high demand for certain items you order and get it waybilled to you.
There is much to gain in this business, charger, cords, Mp3, powerbanks don’t get spoiled but rather the price keeps going up to your own advantage.if you have money to buy in large quantities.
Other places are: a busy road close to offices, motor parks, ensure you don’t have a cluster of the same business in the area.
Phone Accessories to sell
Here are a few basic things you need to start with at the initial stage Earpiece,mainly, Oriamo, chargers, extension box, iphone screen guards, majorly privacy samsung screen guards, (majorly the s.series samsung), laptop chargers hp and the rest. Bluetoothspeaker zealots as time goes on upgrade to JBL, WiFi network, phone cords, HDMIcable, I watch charger, screen protector, cables, batteries.
Where to buy phone accessories
Buy from importers or dealers at wholesale price and retail in bulk. It is good to stick with popular brands that are less expensive and have good attestation example includes; Oraimo, Itel, Chupez, Techno, Poolee, Remax, Shplus, New age. Go with someone who has been in the business for long to accompany you for the purchase. Go to Alaba International market in Lagos after you have understood the business there are many dealers there.
The best sites to buy if you are importing are; Shen and Temu but for branding Alibaba is the best. Phone importation business is cool and so is the accessories.
Where to locate your phone accessory shop
Choose a very busy location where there is foot traffic, also for starters without enough capital to acquire a shop, start with a showglass in a busy marketplace. Or get a space in a busy street and put a container. As a retailer, containers will make you stand out fast, it’s also easy to identify.
Learn the basic things before starting, such as; how to fix screen guides and some of the accessories. Have a good speaker in your shop if you plan on getting one, load a memory card with the latest jams and blast the music, it will attract customers. Go online and advertise your business on all social media platforms; Facebook, Instagram, WhatsApp, YouTube etc.
Another good location is NYSC camp, rent a space in the camp, set up charging points. Buy 30 power banks, you can rent out (1k) daily make sure you collect 15k as insurance fee in case anyone runs away with it. If you know what you are doing within 3 weeks people will think you are using something.
Business to combine with phone accessories business
The business can be combined with phone charging and POS business as well, so you can be making money from different fronts. Run the phone charging with an inverter.
Don’t deal with phone pouch and screen guard for a start, just start with chargers, earpiece and mp3
Risk in Phone Accessories business
The downside is that if you don’t sell the accessories fast, the goods would be outdated and result to losses. This is because, new phones and accessories comes out every now and then. And the dynamics keep charging, if you buy in bulk and sell them fast don’t buy the same again., buy the latest. The good thing is that they can never be outdated, it is only an opinion so you know what to buy in bulk.
Problems mostly observed in the business is returning of products that are mostly fake. Most of the accessories shipped into Nigeria are fake. Concentrate on selling infinix, itel, and techno battery purchased directly from their offices. The main risk is on pouch, it is a very bad experience because new phones are released every day with new camera and shape. If you don’t sell its pouch on time it will result to losses.
New accessories come out every day but accessories are not easily outdated. Despite technology advancement, memory cards; type A cord and plug in ear piece are still up with date. For phone accessories people just want what will serve them not necessarily giving attention to taste. Check what people around you prefer. Don’t buy fake products, buy items like Chupez memory cards because it is compatible with many phones. New age is one of the best when it comes to desktop chargers/cods.
How profitable is the Phone accessory business
You can make up to 50k in some days and at least 25k profit daily. In a month you should make not less than 500k. That is if you have the market, the more sells you make the more profit you make. Someone sold iPhone chargers alone and made 45k profit in a day, you can imagine how much she made from the selll of other items.
Advise
Cut down on your expenses, save money daily, be careful when attending to customers, issue receipts on any item purchased, re-invest the profits back into the business and watch as it grows. Phone Accessories business is very rewarding try it out today.