How to start Smartphone Business | How to Start Mobile Business | Mobile Business Ideas |
Day by day new Smartphones are coming in the market and people want to buy a new Phone by changing their old Smartphone. If someone’s smartphone gets damaged then he needs a new phone. There are about 400 million Smartphone users in India, which are increasing day by day and it is estimated that by 2024, their figure will cross 650 million.
Looking at the demand and sales of mobile, doing a mobile phone business can be very beneficial. If you want to open your mobile shop then this post is going to be very beneficial for you because today in this post we are going to tell important information related to mobile shop business.
Here we will tell you some tips that you can follow to open a mobile shop. We also share about low Investment Business Ideas.
How to Start Mobile Business
What is mobile business? Mobile shop is such a shop, where many problems related to a person’s mobile are solved, under the mobile shop, you can sell phones etc., which includes all types of branded phones to unbranded phones etc.
Along with this, you can also keep mobile related accessories in the mobile shop, including mobile charger, data cable, earphones, backcover, screen glass, etc.
All these items are called mobile accessories, along with this in the mobile shop All types of SIM recharge etc are also available, arrangements for mobile repair etc are also available in some mobile shops.
The future of Smartphone Business
If you look at the future prospects of mobile shop business, then it looks good, there are some reasons behind this, today India is the second largest country in the world using mobile phones, China comes on the first number, it can be guessed from this.
It is true that today mobile phones have reached many people. Now the question must be arising in your mind that when everyone has a mobile phone, then who will come to buy new phones, and how will the business run? everyone is addicted to mobile phone.
How to Start Smartphone Business
First of all, to start a mobile business, it is necessary to take the license which you have to take for the electronic store. You can apply online to get it.
After this you will need a shop to sell mobile. But remember this shop should be in your running market. Along with this, you need to make a table in the furniture, a counter for you, a glass box to keep the phone safe, etc.
Now you will need a mobile phone for your shop, which company you want to sell. Along with this, you will also need a computer for your accounts etc. It is good if you buy this.
Total Cost and Expenses in Mobile Shop Business
To estimate the expenditure in mobile shop business, we have to see the expenditure by dividing it into different parts, before that one thing must be kept in mind, that never start your shop by keeping half incomplete goods, it will cause you a lot of loss. You may also lose many of your customers as well.
When the customer comes when the goods are incomplete and he does not get the goods he needs, then he gets a feeling that all the goods are not available in this mobile shop, after that no matter how big your shop becomes, The customer will definitely think before visiting your shop again Now let’s talk about the total cost of starting a mobile shop, then it may take you about 30 to 35 thousand rupees for the construction of furniture etc.
After that, you may have to pay about 2 to 3 lakhs for buying mobile phones etc. from the distributor. Mobile related accessories can also cost around 40 to 50 thousand.
Important Documents for Business
- TIN no. & GST No.
- License under Shop Establishment Act
- Complete Property Document
- Lease Agreement NOC
Best Location for Mobile Shop Business
If you are searching a best place for your business then you can choose the given ideas:
- Near Bus Stand
- Near Railway Station
- Main Market
- Similar Like that
Registration and License
To open a mobile shop, it is mandatory for you to take a license under the Shop Establishment Act. The process of registration of mobile shop may differ from state to state. It is available both online and offline. To apply online, you have to visit the website of the State Labor Department.
After that there you will have to fill the application form of Shop Establishment Act completely. And upload your required documents, after that you have to pay whatever cost is required in your state. After verification of the registration form, your registration certificate ie license will be issued.
Choose the right Brand or product
Market research is necessary before starting any business. It is important for you to know which brand of Smartphone is used more in the market. Keep the range of Value For Money Smartphone as much as you can.
You can keep products like newly launched and better brands in your mobile shop. If you provide the right Mobile Phone to the people in the market, then after a few days your Mobile Shop will start and you will be able to earn well.
The profit ratio in Mobile Shop business is more than 50%. In mobile business you will get less profit in the beginning. But when your business starts running well in a few months, then you start getting good profits. Before knowing the earning of the month, you need to know that how much profit is made by selling mobiles and other goods.
If you sell a charger of a company, then you get a profit of Rs. 100. By selling a smartphone, you can get a profit of Rs. 1500 to 2000. This earning can be up to Rs. 150 in the battery. Mobile cover can easily earn Rs. Profit can be 100% in local charger, it can be up to Rs 30 in sim.
Loan for Mobile Business Shop
If you want to start mobile shop business. And due to lack of money you need to take a loan, and you want to take a loan at a very low rate of interest.
So you don’t need to worry. Because the Government of India provides a lot of assistance to the new business.
They have been ordered to give loans easily. For your mobile shop, you can easily take a loan ranging from ₹ 50000 to ₹ 1000000 under the Pradhan Mantri Mudra Yojana run by the Government of India and the interest of this loan will also be very low.
In this article, we have told you in detail about how to Start mobile shop business. If you want to know more about this then comment us below.
FAQs : Mobile Shop Business ideas
How to start Mobile Shop Business with 50k Rupees?
Yes, now you can start mobile shop business by investing only ₹ 50000. For this you will need a rented shop and you can set up all yours in it and this will increase your income as you go. By the way, you will also have your own shop.