Do you want to start a cell phone store and need to write a plan? If YES, here is a sample cell phone accessories business plan template & feasibility report.

In as much as people still make use of cell phones, the demand for cell phone accessories will continue to rise. Cell phone accessories store business is indeed a profitable business because the replacement of damaged or worn-out cell phone parts and accessories is compulsory to extend the lifespan of cell phones.

Why Start a Cell Phone Accessories Store?

If you are looking for a business to start as an entrepreneur and you know you have an interest in the technology cum cell phone industry, then you should consider starting your own cell phone accessories business. Although you don’t need a college degree to establish this business, but you need some form of informal training, you might have to work as an apprentice with someone who owns a cell phone accessories store.

It is important to point out that cell phone accessories store business can’t go out of fashion because of the role it plays in the cell phone industry. Depending on the scale you want to start, the startup capital for this type of business can be considered to range from small to moderate.

As a matter of fact, you can start your own cell phone accessories store from a mobile store and then grow it big within a short period of time by re-investing your profits back to the business.

If you are sure this type of business is what you want to do after you must have conducted your feasibility studies and market research, then the next step to follow is to write a good business plan; a detailed blue print of how you intend raising your seed capital, setting up the business, managing the flow of the business, sorting out tax and marketing your services.

Below is a sample cell phone accessories store business plan template that will help you write yours without much stress.

A Sample Cell Phone Accessories Store Business Plan Template

Industry Overview

Cell phone accessories include any hardware that is not integral to the operation of a mobile smartphone as designed by the manufacturer. Cell phone accessories stores is a subset of the Smartphones industry and operators in this industry retail smartphones and accessories through traditional brick-and-mortar outlets, online websites and by mail order.

IBISWorld projected that over the five years to 2020, the Retail Market for Smartphones industry is anticipated to benefit from the growing demand for smartphones and increasing percentage of services conducted online. As per capita disposable income increased, consumers have increasingly purchased discretionary items. Smartphones are considered particularly discretionary because they are at the higher-end of the cellphone market.

Furthermore, the industry has benefited from a rise in the popularity of products spanning a wide range of price points. This industry benefits from constantly improving technology, which benefits operators in two different ways. As technology improves, the efficiency of manufacturing certain smartphones rises and the cost typically falls.

Going forward, the Retail Market for the Smartphones industry is anticipated to continue to benefit from growing disposable income and increasing demand for smartphones, specifically those at the higher end of the market. Per capita disposable income is anticipated to increase at an annualized rate going forward.

During this time, consumers are anticipated to upgrade and purchase new smartphones as they are less wary about spending money on discretionary purchases. Industry growth is anticipated to slow down as the smartphone market becomes saturated, however as it becomes a consumer stable, industry operators will likely improvise to stay afloat.

Statistics has it that in the United States of America alone, there are about 40,558 registered and licensed smartphones retail stores scattered all across the United States responsible for directly employing about 467,650 people and the industry rakes in a whooping sum of $86 billion annually.

The industry is projected to grow at 10.1 percent annual growth within 2015 and 2020. It is important to state that Apple Inc., Verizon Wireless, AT&T Inc. and Best Buy Co. Inc. have the largest chunk of the available market share in the industry.

A close observation of the Retail Market for the Smartphones industry shows that the industry has low barriers to entry. In the United States, the industry is subject to few restrictive regulations, and industry employees typically do not need to be trained formally to be able to carry out their duties.

The tough part as it relates to start-up costs is the supply of cell phone accessories from wholesalers or directly from manufacturing companies, because cell phone accessories store business cannot be started without sourcing products for sale. Regardless of low barriers to entry, the competitive nature of the industry makes it very difficult for new operators to break even within a short period of time in the industry.

Executive Summary

John Lyon® Cell Phone Accessories Stores, Inc. is a registered cell phone accessories store that will be located in one of the busiest streets in Harrington – Delaware. We have been able to lease a standard store facility in a technology hub in the city and the store is located in a corner piece property along a major road close to one of the largest residential estates in Harrington – Delaware.

John Lyon® Cell Phone Accessories Stores, Inc. will retail Cases, which are designed to attach to, support, or otherwise hold a smartphone, mass storage component (SD card, SD card slot and special USB micro-B flash drive), chargers and external batteries, selfie sticks, smartphone tripod mount and micro-USB to HDMI cables that are used in smartphones with MHL et al from different manufacturers (brands) from the United States and abroad.

We are aware that there are several cell phone accessories store outlets all around Harrington – Delaware, which is why we spent time and resources to conduct a thorough feasibility studies and market survey so as to be well positioned to favorably compete with all our competitors.

We have an online – service option for our customers, and our outlet is has various payment options. We will ensure that we get our customers involved in the selection products (brands) that will be in our store and also when making some business decisions that directly affect them.

John Lyon® Cell Phone Accessories Stores, Inc. will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible. We will ensure that we hold ourselves accountable to the highest standards by meeting our customers’ needs precisely and completely whenever they patronize our products.

John Lyon® Cell Phone Accessories Stores, Inc. is owned by John Lyon. John Lyon has a Diploma in Computer Technology, with over 5 years’ experience in the retailing industry, working for some of the leading brands in the United States. Although the business is launching out with just one outlet in Harrington – Delaware, but they have a long term plan to open other outlets around major cities in the United States and Canada via franchising.

Our Product Offering

John Lyon® Cell Phone Accessories Stores, Inc. is in the retail market for the Smartphones to service a wide range of clients and of course to make profits, which is why we will make available a wide range of cell phone accessories from top manufacturing brands in the United States and other countries of the world.

Our product offerings are listed below;

  • Phone Cases (Pouches and sleeves, Holsters, Shells, Skins, Fitted cases, Bumpers, Flip cases and wallets, Screen protection and body films, Drop and shock protection and Leather case)
  • Mass storage component (SD card, SD card slot and special USB micro-B flash drive)
  • Chargers and external batteries,
  • Selfie sticks, smartphone tripod mount
  • Micro-USB to HDMI cables used in smartphones with MHL

Our Mission and Vision Statement

  • Our vision is to become one of the leading brands in the smartphones retail market in Delaware and to establish a one stop cell phone accessories store in Harrington – Delaware and in other key cities in the United States of America.
  • Our mission is to establish a world – class cell phone accessories store that will make available a wide range of cell phone accessories from top manufacturing brands at affordable prices to  residents of Harrington – Delaware.

Our Business Structure

Our intention of starting a cell phone accessories store business is to build a standard store outlet in Harrington – Delaware. Although our cell phone accessories store might initially not be as big as some of the biggest in the industry, but we will ensure that we put the right structures in place that will support the kind of growth that we have in mind while setting up the business.

We will ensure that we hire people that are qualified, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders.

As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of ten years or more. In view of that, we have decided to hire qualified and competent hands to occupy the following positions;

  • Chief Executive Officer (Owner)
  • Store Manager
  • Human Resources and Admin Manager
  • Merchandize Manager
  • Sales and Marketing Manager
  • Information Technologist
  • Accountants/Cashiers
  • Sales Agents/Customer Services Executive
  • Cleaners

Job Roles and Responsibilities

Chief Executive Officer – CEO:

  • Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results
  • Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
  • Responsible for fixing prices and signing business deals
  • Responsible for providing direction for the business
  • Responsible for signing checks and documents on behalf of the company
  • Evaluates the success of the organization
  • Reports to the board

Admin and HR Manager

  • Responsible for overseeing the smooth running of HR and administrative tasks for the organization
  • Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
  • Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
  • Defining job positions for recruitment and managing interviewing process
  • Carrying out induction for new team members
  • Responsible for training, evaluation and assessment of employees
  • Responsible for arranging travel, meetings and appointments
  • Oversee the smooth running of the daily office cum business activities.

Store Manager:

  • Responsible for managing the daily activities in the store
  • Ensures that proper records of cell phone accessories are kept and the warehouse does not run out of products
  • Ensure that the store facility is in tip top shape and goods are properly arranged and easy to locate
  • Control cell phone accessories distribution and supply chain inventory

Merchandize Manager

  • Manage vendor relations, market visits, and the ongoing education and development of the organizations’ buying teams
  • Help to ensure consistent quality of Cases, mass storage component (SD card, SD card slot and special USB micro-B flash drive), chargers and external batteries, selfie sticks, smartphone tripod mount and micro-USB to HDMI cables are purchased and retailed in good price that will ensure we make good profit
  • Responsible for planning sales, monitoring inventory, selecting the merchandise, and writing and pricing orders to vendors

Sales and Marketing Manager

  • Manage external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
  • Model demographic information and analyze the volumes of transactional data generated by customer purchases
  • Identify, prioritize, and reach out to new partners, and business opportunities et al
  • Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
  • Document all customer contact and information
  • Represent the company in strategic meetings
  • Help increase sales and growth for the company

Information Technologist

  • Manage the organization website
  • Handles ecommerce aspect of the business
  • Responsible for installing and maintenance of computer software and hardware for the organization
  • Manage logistics and supply chain software, Web servers, e-commerce software and POS (point of sale) systems
  • Manage the organization’s CCTV
  • Handles any other technological and IT related duties.

Accountant/Cashier:

  • Responsible for preparing financial reports, budgets, and financial statements for the organization
  • Provides managements with financial analyses, development budgets, and accounting reports
  • Responsible for financial forecasting and risks analysis.
  • Performs cash management, general ledger accounting, and financial reporting
  • Responsible for developing and managing financial systems and policies
  • Responsible for administering payrolls
  • Ensuring compliance with taxation legislation
  • Handles all financial transactions for the organization
  • Serves as internal auditor for the organization

Client Service Executive

  • Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
  • Through interaction with customers on the phone, uses every opportunity to build client’s interest in the company’s products and services
  • Manages administrative duties assigned by the human resources and admin manager in an effective and timely manner
  • Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to customers when they make enquiries
  • Find out the customer’s needs, recommend, select and help locate the right merchandise, describe a product’s features and benefits.
  • Make suggestions and encourage purchase of products
  • Provide information about warranties, manufacturing specifications, care and maintenance of merchandise and delivery options
  • Bag or package purchases and gift wrap merchandise

Cleaners:

  • Responsible for cleaning all the cell phone accessories and the store facility at all times
  • Ensure that toiletries and supplies don’t run out of stock
  • Handle any other duty as assigned by the store manager.

SWOT Analysis

Our intention of starting just one outlet of our cell phone accessories store in Harrington – Delaware is to test run the business for a period of 2 to 5 years to know if we will invest more money, expand the business and then open other outlets in Delaware and key cities in the United States.

We are quite aware that there are several cell phone accessories stores all over Harrington and even in the same location where we intend locating ours, which is why we are following the due process of establishing a business.

We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be equipped to confront our threats.

John Lyon® Cell Phone Accessories Stores, Inc. employed the services of an expert HR and Business Analyst with bias in retailing to help us conduct a thorough SWOT analysis and to help us create a business model that will help us achieve our business goals and objectives.

This is the summary of the SWOT analysis that was conducted for John Lyon® Cell Phone Accessories Stores, Inc.;

  • Strength:

Our location, the business model we will be operating on, varieties of payment options, wide range of cell phone accessories from different manufacturing brands and our excellent customer service culture will definitely count as a strong strength for John Lyon® Cell Phone Accessories Stores, Inc. So also, our team of highly qualify staff members is also a plus for us.

  • Weakness:

A major weakness that may count against us is the fact that we are a new cell phone accessories store outlet in Harrington – Delaware and we don’t have the financial capacity to compete with multi – million dollar outlets when it comes to retailing at a rock bottom prices.

  • Opportunities:

The fact that we are going to be operating our cell phone accessories store in a corner piece property along a major road close to one of the largest residential estates in Harrington – Delaware provides us with unlimited opportunities to sell our accessories to a large number of people.

We have been able to conduct thorough feasibility studies and market survey and we know what our clients will be looking for when they visit our outlet; we are well positioned to take on the opportunities that will come our way.

  • Threat:

Just like any other business, one of the major threats that we are likely going to face is economic downturn. It is a fact that economic downturn affects purchasing/spending power. Another threat that may likely confront us is the arrival of a new cell phone accessories outlet in same location where ours is located. So also, unfavorable government policies may also pose a threat to businesses such as ours.

MARKET ANALYSIS

  • Market Trends

Experts projected that in 2017, the retail market for the Smartphones industry is expected to profit from growing global economic conditions. Per capita income levels have scaled across the globe and a growing numbers of teens in emerging economies have looked to purchase their own smartphones. As the demand for new smartphones increases, original equipment manufacturers supply more components to industry operators.

A resurgence in demand for new smartphones has stimulated industry profit, as operators were able to increase sales. Steady growth in economic conditions will create avenues for consumers to release pent-up demand for high – end smartphones, hence the increase in demand for upstream supplies.

If you are conversant with the retail market for the Smartphones industry, you will quite agree that the original equipment refers to cell phone parts and accessories that are manufactured to the specification of cell phone manufacturers.

These standards are global, and cell phone manufacturers typically source the same part from different suppliers. Even though these parts and accessories are manufactured by companies in the industry, original equipment carries the name of the final cell phone assembler.

The cell phone accessories stores landscape has seen tremendous changes in the last 20 years; it has grown from the smaller outlets to a more organized and far reaching venture. The introduction of franchise and online store makes it easier for a cell phone accessories retailer to reach out to a larger market far beyond the areas where his physical store is located.

Our Target Market

Those who patronize cell phone accessories store cut across all genders above 18 years with the financial means and who own cell phones, hence the target market for cell phone accessories store business is all encompassing. In essence, your target market can’t be restricted to just a group of people, but all those who own cell phones.

In view of that, we have positioned our cell phone accessories store to service the residents of Harrington – Delaware and every other location where our outlets stores will be located all over key cities in the United States of America and Canada. We have conducted our market research and feasibility studies and we have ideas of what our target market would be expecting from us.

Our Competitive Advantage

A close study of the retail market for the Smartphones industry reveals that the market has become much more intensely competitive over the last decade. As a matter of fact, you have to be highly creative, customer centric and proactive if you must survive in this industry. We are aware of the stiff competition and we are prepared to compete favorably with other leading cell phone accessories stores in Harrington – Delaware.

John Lyon® Cell Phone Accessories Stores, Inc. is launching a standard phone accessories store that will indeed become the preferred choice of residence of Harrington – Delaware and every other location where our outlets will be opened. Our cell phone accessories store is located in a corner piece along a major road close to one of the largest residential estates in Harrington – Delaware.

We will ensure that we have a wide range of cell phone accessories from leading manufacturers available in our store at all times. It will be difficult for customers to visit our store and not see the type of cell phone accessories they are looking for.

One of our business goals is to make John Lyon® Cell Phone Accessories Stores, Inc. a one stop cell phone accessories retail shop. Our excellent customer service culture, online store, various payment options and highly secured facility will serve as a competitive advantage for us.

Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and objectives. We will also give good working conditions and commissions to freelance sales agents that we will recruit from time to time.

SALES AND MARKETING STRATEGY

  • Sources of Income

John Lyon® Cell Phone Accessories Stores, Inc. is in business to retail a wide range of cell phone accessories to residents of Harrington – Delaware. We are in the industry to maximize profits and we are going to ensure that we achieve or business goals and objectives.

John Lyon® Cell Phone Accessories Stores, Inc. will generate income by selling the following products;

  • Phone Cases (Pouches and sleeves, Holsters, Shells, Skins, Fitted cases, Bumpers, Flip cases and wallets, Screen protection and body films, Drop and shock protection and Leather case)
  • Mass storage component (SD card, SD card slot and special USB micro-B flash drive)
  • Chargers and external batteries,
  • Selfie sticks, smartphone tripod mount
  • Micro-USB to HDMI cables used in smartphones with MHL

Sales Forecast

One thing is certain when it comes to cell phone accessories stores, if your store is stocked with various types of cell phone accessories and is centrally positioned, you will always attract customers cum sales.

We are well positioned to take on the available market in Harrington – Delaware and we are quite optimistic that we will meet our set target of generating enough income/profits from the first six months of operation and grow the business and our clientele base.

We have been able to examine the cell phone accessories stores industry and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. Below are the sales projections for John Lyon® Cell Phone Accessories Stores, Inc. it is based on the location of our business and other factors as it relates to cell phone accessories stores in the United States;

  • First Fiscal Year (FY1): $240,000
  • Second Fiscal Year (FY2): $350,000
  • Third Fiscal Year (FY3): $550,000

N.B: This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor within our market space. Please note that the above projection might be lower and at the same time it might be higher.

  • Marketing Strategy and Sales Strategy

Before choosing a location for John Lyon® Cell Phone Accessories Stores, Inc. we conducted a thorough market survey and feasibility studies in order for us to penetrate the available market and become the preferred choice for residents of Harrington – Delaware. We have detailed information and data that we were able to utilize to structure our business to attract the number of customers we want to attract per time.

We hired experts who have good understanding of the cell phone accessories stores industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Harrington – Delaware.

In summary, John Lyon® Cell Phone Accessories Stores, Inc. will adopt the following sales and marketing approach to win customers over;

  • Introduce our cell phone accessories store by sending introductory letters alongside our brochure to key stakeholders in Harrington – Delaware
  • Ensure that we have a wide range of cell phone accessories from different brands at all times.
  • Make use of attractive hand bills to create awareness and also to give direction to our store
  • Position our signage/flexi banners at strategic places around Harrington – Delaware
  • Position our greeters to welcome and direct potential customers
  • Create a loyalty plan that will enable us reward our regular customers
  • List our business and products on yellow pages ads (local directories)
  • Leverage on the internet to promote our business
  • Engage in direct marketing and sales
  • Encourage the use of Word of mouth marketing (referrals)
  • Join local chambers of commerce and industries to network and market our products

Publicity and Advertising Strategy

Despite the fact that our cell phone accessories store is well located, we will still go ahead to intensify publicity for the business.

John Lyon® Cell Phone Accessories Stores, Inc. has a long-term plan of opening outlets in various locations all around Delaware and key cities in the United States which is why we will deliberately build our brand to be well accepted in Harrington before venturing out.

Here are the platforms we intend leveraging on to promote and advertise John Lyon® Cell Phone Accessories Stores, Inc.;

  • Place adverts on community based newspapers, radio stations and TV stations.
  • Encourage the use of word of mouth publicity from our loyal customers
  • Leverage on the internet and social media platforms like; YouTube, Instagram, Facebook, Twitter, LinkedIn, Snapchat, Google+ and other platforms to promote our business.
  • Ensure that our we position our banners and billboards in strategic positions all around Harrington – Delaware
  • Distribute our fliers and handbills in target areas in and around our neighborhood
  • Advertise our cell phone accessories store business in our official website and employ strategies that will help us pull traffic to the site
  • Brand all our official cars and trucks and ensure that all our staff members and management staff wear our branded shirt or cap at regular intervals.

Our Pricing Strategy

On the average, there is a standard price for various cell phone accessories hence the prices of our cell phone accessories will conform to what is obtainable in the industry but we will ensure that within the first 6 to 12 months our products are sold a little bit below the average price in the market. We have put in place business strategies that will help us run on low profits for a period of 6 months; it is a way of encouraging people to buy into our brands.

  • Payment Options

The payment policy adopted by John Lyon® Cell Phone Accessories Stores, Inc. is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that John Lyon® Cell Phone Accessories Stores, Inc. will make available to her clients;

  • Payment via bank transfer
  • Payment with cash
  • Payment via credit cards
  • Payment via online bank transfer
  • Payment via check
  • Payment via mobile money transfer

In view of the above, we have chosen banking platforms that will enable our clients make payment for our cell phone accessories purchase without any stress on their part.

Startup Expenditure (Budget)

When it comes to starting a cell phone accessories business the major areas that you look towards spending the bulk of your cash is in the purchase of a wide range of cell phone accessories from different manufacturing brands and of course renting or leasing a well located store facility.

You are also expected to pay your employees and your utility bills. These are the key areas where we will spend our startup capital on;

  • The total fee for registering the business in the Unites States of America – $750.
  • Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $3,300.
  • Marketing promotion expenses for the grand opening of John Lyon® Cell Phone Accessories Stores, Inc. in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
  • The cost for hiring business consultant – $2,500.
  • Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $2,400.
  • The cost for payment of rent for 12 months at $1.76 per square feet in the total amount of $55,600.
  • The cost for shop remodeling (construction of racks and shelves) – $20,000.
  • Other start-up expenses including stationery ($500) and phone and utility deposits ($2,500).
  • Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $60,000
  • The cost for start-up inventory (stocking with a wide range of cell phone accessories from different manufacturing brands) – $50,000
  • The cost for counter area equipment – $1,500
  • The cost for store equipment (cash register, security, ventilation, signage) – $3,750
  • The cost of purchase and installation of CCTVs: $10,000
  • The cost for the purchase of office furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al): $4,000.
  • The cost of launching a website: $600
  • Miscellaneous: $10,000

We would need an estimate of two hundred and fifty thousand dollars ($250,000) to successfully set up our standard cell phone accessories store in Harrington – Delaware.

Generating Funds/Startup Capital for John Lyon® Cell Phone Accessories Stores, Inc.

John Lyon® Cell Phone Accessories Stores, Inc. is a private registered business that is owned and financed by John Lyon. He has decided to restrict the sourcing of the startup capital to 3 major sources.

  • Generate part of the startup capital from personal savings
  • Source for soft loans from family members and friends
  • Apply for loan from my Bank

N.B: We have been able to generate about $50,000 (Personal savings $30,000 and soft loan from family members $20,000) and we are at the final stages of obtaining a loan facility of $200,000 from our bank. All the papers and documents have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

Sustainability and Expansion Strategy

Part of the plans we have in place to sustain John Lyon® Cell Phone Accessories Stores, Inc. is to ensure that we continue to make available a wide range of cell phone accessories from different manufacturing brands, deliver quality services, improvise on how to do things faster and cheaper. We are not going to relent in providing conducive environment for our workers.

From our findings, another factor that kills new businesses is financial leakages. In order to plug financial leakages, the management of John Lyon® Cell Phone Accessories Stores, Inc. adopted the use of payment machine and accounting software to run the business.

We are quite aware that our customers are key component to the growth and survival of our business hence we are going to continuously engage them to give us ideas on how to serve them better and the products they want to see in our store. We will not waste time in adopting new technology, best practices and diversifying our services.

John Lyon® Cell Phone Accessories Stores, Inc. will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List/Milestone

  • Business Name Availability Check: Completed
  • Business Registration: Completed
  • Opening of Corporate Bank Accounts: Completed
  • Securing Point of Sales (POS) Machines: Completed
  • Opening Mobile Money Accounts: Completed
  • Opening Online Payment Platforms: Completed
  • Application and Obtaining Tax Payer’s ID: In Progress
  • Application for business license and permit: Completed
  • Purchase of Insurance for the Business: Completed
  • Leasing of store facility and remodeling the store: In Progress
  • Conducting Feasibility Studies: Completed
  • Generating capital from family members: Completed
  • Applications for Loan from the bank: In Progress
  • Writing of Business Plan: Completed
  • Drafting of Employee’s Handbook: Completed
  • Drafting of Contract Documents and other relevant Legal Documents: In Progress
  • Design of The Company’s Logo: Completed
  • Printing of Packaging and Promotional Materials: In Progress
  • Recruitment of employees: In Progress
  • Purchase of the needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
  • Creating Official Website for the Company: In Progress
  • Creating Awareness for the business both online and around the community: In Progress
  • Health and Safety and Fire Safety Arrangement (License): Secured
  • Compilation of our list of products that will be available in our store: Completed
  • Establishing business relationship with vendors – manufacturers and suppliers of cell phone accessories: In Progress
Solomon. O'Chucks