Cell phone technological advances are due to consumer demand and market competition.
Cell phones can perform nearly as many tasks as a laptop. Consumers can't get enough. Both the Android and the iPhone flew off the shelves when they were brought to the public. Computer manufacturers are building cell phone prototypes and are expected to up the ante. Conceivably, the competition could work in the consumer's favor in the form of a price war. Position your new cell phone business venture to be in the center of the booming industry.
Instructions
Successful Cell Phone Business Start-Up Guide
1. Explore possible retail locations for your cell phone business. Estimate the potential costs for leasing or building a retail location. Review wireless retailer programs offered by the major wireless companies such as T-Mobile and AT&T. Calculate potential inventory costs. Contact local employment agencies. Find out about salary and benefits expectations of the local talent pool.
2. Compile the information you have gathered into a business plan that states the concept of your business and the profit potential of the business. List your potential income streams and the strategies you will use to compete against cell phone businesses already established in the area.
3. Apply for all business licenses required by your state. The state department of revenue may require you to apply for a reseller's license. Download an application online or contact a representative and request one to be mailed. The county or city municipality may require you to register your business entity and complete a business license application.
4. Start the process for getting building and zoning permits if you want to build a standalone wireless retail store. Contact your city planning department.
5. Submit your business plan to commercial banks to apply for financing. Start with the banking institution that you already use. Seek private investors to fund the money you are not awarded in a bank loan. Seek referrals from other business owners about colleagues who are looking for investment opportunities. Search online for private lending communities.
6. Commission a real estate agent to help locate the ideal retail space for your cell phone business vision. Don't pay sticker price if at all possible. Use your real estate agent to help negotiate lower lease rates on property.
7. Build or renovate your store. Fashion the floor plan so that you can direct customers to where you want them to shop. In the book, "The American Dream: Sixteen Steps to Successful Business Ownership," C. K. Quarterman writes, "Unless your store is a three-by-six box with nothing but racks or product and a cash register, you'll want to put a lot of thought into how you want your store laid out. Store layout has a strong impact on customer perception and store profitability."
8. Contact cell phone master agents such as American Wireless, who can assist you with purchasing cell phone inventory. If you only want to work with a specific character, sign up directly with that carrier in their partner or reseller program.
9. Sign up for workers compensation insurance. Check with your state program to find out the amount of coverage you are required to have.
10. Hire sales staff with retail experience. Find candidates by posting in online and offline classifieds or posting on online job boards. Purchase uniforms or polo shirts with your logo printed on them.
11. Announce your grand opening. Gather a list of emails and fax numbers for local media contacts. Write a press release or hire a publicity writer to do it for you. Fax and email a copy of your press release to all the contacts you have gathered.
12. Advertise on television and radio. In your ads, explain to your prospects why they should buy their phones from you instead of your competitors. Create a promotion to encourage visiting your store.
13. Use Smartphone technology to stay in contact with previous customers. Inc. magazine writers Lauren Folino and Ryan McCarthy write, "Multimedia, such as mobile marketing, livecasting and podcasting, photo, video and file sharing, can spread the word about your company and help build brand awareness in a very unique and powerful way." Create applications that they can download that remind them of upgrade dates, inform them of new phones that are coming to the market, and encourage them to return to the store to buy cool new accessories.
Tags: cell phone, your store, your business, your cell, your cell phone, agent help
