It is necessary to be creative and a business minded person to think of a unique idea to start a new business or to copy business of your prospective competitor. It is also very important to be dynamic and enthusiastic about your business goals , because until you find your business rewarding in the long run you wont be able to get it to heights in your coming days and you will loose interest in it with time. Business ideas are many but something which is unique and is in trend is business of Mobile Accessories and Spare Parts which you can do even at comfort of your home . This is the only business which you can do within a specified budget frame and with just knowledge of bit purchasing from the official Mobile Accessories Market.
In this post ,we have tried to tell you more about the Mobile Accessories Business and we will try to give you a definite direction in this business with which you can do it successfully without loosing any of your investment .
Mobile Accessories Business
Mobile is a device which is required by every person and it has become a need of every person , because the problem of connectivity and accessibility is what smartphones have resolved. But the problem which each of us faces is wear and tears of these smartphones which means that during the intervals , spare parts or even the entire mobile device becomes faulty due to one or the other reason. Here comes the oppurtunity for you to grab where you being a supplier or dealer of mobile spare parts come into picture.
In mobile accessory business , you have to include all products like earphones , bluetooth speakers , mobile spare parts like small speakers ,mic , IC , batteries , wires , touch and folder . You have to keep variety of all products and of all smartphones which will hardly cost you around Rs 0.05 paise per piece if you take it directly from the wholesaler or the importer in India .
You should on primary step reach out to an importer to start this business , so that you can minimise you cost in the starting , on the other hand you have to make bulk purchase for the same.
Investment and Profitability
In mobile accessories business something which matters is the market location of your shop or your accomodation space from where you will be starting this business , also you have to keep systematised racks to know which product has been kept where . Secondaly as said above a normal spare part of a smartphone ranges from a cost of as low as Rs 0.05 paise to Rs 2000 per smartphone model which you have to keep in space in your shop for customer preferences.
All in all , the overall expenditure on shop creation , stock building , marketing cost and all that will cost you around Rs 2 lakh or something if you have your own shop space or ready shop building while in other case ,you have to go for rented space to start this business which will take your cost around Rs 3 to 5 lakh for start.
The basic module to run this business is you have to first reach out to small smartphone vendors where you will be approaching the smartphone repairing persons and telling them about your business and making them availaible all the goods they required at a competitive price point , secondly you have to be somewhat patient in the payment system because the repairing person has to change the spares 3-4 times to exactly fit the appropriate peice in the smartphone , which means the repairing person would never be ready to pay you for defaulted peices, so he will pay out taking time of few days or few weeks.
Talking about Profitability , profit in this business depends usually on the market location of the distributor and demand of the product , if you are stocking a product in this section which is huge in demand you can take about 100 percent profit directly from the buyer.
Marketing Strategy
To give a kick start to your business , you have to first identity the local villages and market places in your town or city .Then reaching out to each place you have enlisted , you have to prepare a list of all smartphone vendors selling good number of smartphones in a month or a week as per your preference . Because the more frequent the person selling the smartphone , the more possible chances that the person will ask you for more spare parts . So choose a vendor wisely.
Prepare a proper database of your vendors and go for marketing of your products . You can buy all mobile spares and accessories direclty from the market of Karol Bagh in Delhi or you can go for Mobile Market in Kolkata where you can direclty contact importers of mobile accessories.
Things to Know
You have to keep certain things in mind before starting a mobile accessories business :
Never make payment to any wholesaler or distributor in advance for the goods he is providing because in such cases , you might get into problem as they might sell your defaulted goods which are of zero value .
Always make payments in digital mode to sellers or importers , so that it becomes you valid purchase and you can show that to the department as well .
If you are not eligible for GST Registration , then don’t take it , it is no where compulsory to take any GST registration in mobile accessories business . But it you want to sell it through e-commerce platforms like Amazon or Flip kart then you have to compulsory take GST registration for it.
Never loose heart going on multiple shops and receiving rejections for your goods.
Hope , you liked this post , if you have any queries related to mobile spare part business or mobile accessories business you can comment us down in comment section or can place us your queries on the contact us page.