Starting your own business can be as exciting as it is scary. When going into self-employment though, you need to be prepared for the problems that can happen – money worries, lack of customers, rookie mistakes. However, one of the most profitable and easy to succeed at self-employment opportunities is the mobile business. Think about it – everybody needs a mobile phone. The scale of the mobile industry has detonated in the last twenty years, especially in countries like India where the telecoms industry has really grown, and statistics show that on average, every house in the world has a mobile phone in it. So with mobile phones being such an important part of your business – why not try your hand at mobile phone sales yourself?
The first thing you need to work out is how big the market is in your local area. Is the employment rate high? Do you see a lot of people using mobile phones? You need to work out the scope for another mobile phone store – how many stores is there around you that sell them? However, despite being a lot of companies that sell mobile phones, demand is always there. People always look around for the best price, especially for mobile phones and contracts. For example, we started a mobile phone Singapore business, and it worked out very well for us.
However, one of the main changes in mobile technology recently is the advent of Smartphones. They basically act like little laptops now in your hand! And your phone is every bit as powerful as your computer at home! People are now investing more in Smartphones than computers due to the expense; in fact Google reports show that by Summer 2014, more people will browse the web on a smartphone than a computer. Do you think you could outsell the computer salesman?
Another thing to consider is the location of your store. This is probably the most important aspect of the company. Should you go online and sell your mobile phones online? Or should you open up a brick and mortar store? Consider also that brick and mortar businesses cost a lot of money to get started – buying the store, getting it decorated, having everything fitted and ready to go – a website can cost you a lot less than a brick and mortar store, but you also cannot build the trust as easily online.
You also need to consider whether or not you need money to get started. Do you need a grant or a loan to bring yourself forward? Can you afford any of the supplies you need? Governments love to provide new businesses with start-up grants in exchange for sponsorship, in this climate its fantastic news for the government to see some new businesses open up, so they are usually happy to help you out.
So consider the costs, the location, the products and the competition before you get started- some of the best days in my life have been running my own business. But some of the most challenging too, so you need to be prepared to try in this – this is not like working a normal job, you need to be at 100% capacity every single day.