Cell phone repair is an exciting business, dominated by those with the determination and patience for jumping into an industry that truly follows the old adage, “a day to learn, a lifetime to master.” Repairing cell phones, while it might not seem from in front of the counter, is a fast paced and challenging environment that demands critical thinking skills, quick decision-making, and a passion for the medium.
If you’ve ever considered going into business for yourself, or investing in a franchise of any sort, a cell phone repair business should be a strong contender. Smartphone and electronics repair are a growing industry. As the value of smartphones rises both in financial terms as well as cultural, the demand for access to quality and convenient repair services will only increase.
If you’re considering a cellular repair franchise, here are a few things to consider.
Inventory Staying Power
CNN Money shows that of the top 10 most popular franchises, half are food related. Owning a food service franchise has a lot of upsides, and like any franchise it provides a steady stream of income once the ball is rolling. Food franchises however come with the headache of perishable inventory.
The inventory required for a cell phone repair franchise has staying power. Each store is responsible for stocking the digitizers, LCD’s, and more of its most popular parts. While these parts get cycled often due to their popularity, there are also parts like ribbons, and cameras that may not be used as often, these parts however do not go bad.
Want vs. Need or Both: A Great Customer Base
While many businesses are born out of want, many long lasting ones are created out of need. Cell phone repair franchises bring the best of both worlds together, as you’ll serve those needing to get their phones back up and running, as well as the tech inclined looking to upgrade or keep their phone in prime shape.
The cell phone business provides a great outlet for servicing a need in todays technologically saturated community. Smartphone users world wide are approaching 2 billion users, and as there is a demand for smartphones there will be a demand for smart phone repair.
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Connection with the Industry
Owning and running a phone repair franchise will bring you to closer to the industry than ever before, unless you were already a part of it. Learning to know the different brands, phones, and what makes them work is a fascinating part of the day-to-day life in a phone repair store.
You’ll be up to date with all the latest consumer cellular tech as new smartphones require new repairs and you’ll be connected to one of the largest industries in the world.
Income is Correlated with Production
The volume of repairs that you and your team can handle serves as one of the few limits for the income you can generate from a cell phone repair franchise. A new franchise can start small and scale up in volume as the team becomes more comfortable with the work and the clientele starts to increase.
There is a significant potential for profit margin in the cell phone repair business. Different repairs and the parts required for them can vary greatly in cost and profit. This allows your franchise to more easily balance out its cost and profit, and make sure stores are generating profit from both simple as well as costly and complex repairs.
As it currently stands, the majority of American adults own smartphones. The clientele that your franchise will bring in is sure to be extraordinarily diverse, and allows you to connect with people from all walks of life and industries. Not only do 56% of American adults own smartphones, but the 35% who own non-smartphone mobile phones also require repair from time to time.
Cell phone repair is unique in the diversity and eclecticism of its customers.
The fundamentals required to run the day-to-day operations of a cell phone repair shop, especially but not limited to the repair aspect, is both scalable and easily transitioned from one day to the next. Newer phones resemble older phones and there are industry standards in the methods used for repairs that are not quick to change or especially disappear all together.
Training a team for your store doesn’t necessarily require the memorization of 100+ different phone models and repairs. Instead, employees in this industry succeed when they can easily grasp the fundamentals behind electronics and phone repair. These skills can then be applied to almost any phone or computer that might walk through your doors.
Offering Pre-Paid Phone Services
Far too few people are aware of the ease and affordability associated with picking up a monthly phone plan and being up and running the same day. Any cell phone franchise worth its salt will also offer customers a number of pre-paid monthly phone plans that are as simple to set up as they are reasonably priced.
These no-contract options can even be seen with unlimited (granted often throttled) data, talk and text. These services provide the perfect option for a number of possible clients, including but not limited too;
- Visitor that need cell service on unlocked devices for a limited amount of time
- Clients looking to leave their current carriers but not wanting to sign a contract
- Clients looking to pay for cell phone service in cash
The commission from these pre-paid sales generates an entire other stream of revenue for your franchise. When combined with repair, accessory sales, software services, and many more, the potential for revenue is what you make it.
Owning a cell phone repair franchise is affordable when compared to big name franchises, and provides a rewarding experience while offering necessary repair and consultation services to a wide range of people.
Going into business for yourself is a thrilling yet measure step. Make sure you’re picking the right outlet to grow your investment, and strongly consider a cell phone repair franchise.