Are you about starting an iPhone screen repair business? If YES, here is a complete sample iPhone screen repair business plan template & feasibility report you can use for FREE. In this millennium, one of the phones that have continued to gain more grounds and attract more buyers is the iPhone. In June 11, 2007, Apple said at the Apple’s Worldwide Developers Conference that the iPhone would fund third-party applications using the Safari engine.
Third parties would be able to create Web 2.0 applications, which users can access via the internet. So this phone did come into existence and since then a lot of people have continued to use it. However, there are times when iPhones begin to pose a challenge, but those who have learned how to repair iPhones now know how to handle these challenges
A Sample iPhone Repair Business Plan Template
1. Industry Overview
The iPhone repair services industry repairs, services and maintains iphones and tablets such as iPads. Companies that operate in this industry include physical iPhone repair stores (brick-and-mortar stores) which allow customers to bring in their iphones for repair, and virtual cell phone repair stores (online cell phones repair stores) which allow customers to mail in devices that need repairs.
The iPhone Repair industry is an open industry hence it has a low level of market share concentration. Even though enormous multiservice agencies operate in the industry, but revenue is also spread among thousands of small firms and freelancers.
As a matter of fact, no single iphone repair company can account for more than 5.0 percent of the total revenue generated in the industry. This is the reason why smaller cell phone repair businesses account for a large percentage of players in the industry.
Worldwide, 50 percent of smartphone owners have experienced a cracked screen, with experts approximating that nearly one out of every three Americans damage their iPhones every year. While that may be sad news for phone owners, it’s great news for those interested in the iPhone repair business.
The iphone repair industry according to IBISWorld, has determined that this is a $1.4 billion sector that’s still in its infancy, meaning that there is not enough iPhone repair companies out there to serve everyone, with plenty of municipalities lacking repair shops altogether.
Statistics has it that the Cell Phone Repair industry in the united states of America, is worth $4bn, with an estimated growth rate of 1.7 percent. There are about 8,117 legally registered cell phones repair businesses scattered across the United States of America and they are responsible for employing about 21,758 people.
When first considering iPhone repair opportunities, people may begin to get skeptical if people would prefer individuals to the main iphone companies for repair. The truth remains that even for device owners who have warranties, and are even urged by repair shop owners to check in with Apple, they want the immediacy only repair companies can provide. They don’t want to wait in the long lines of Apple stores, nor do they want to send their device to the company for repair or receive a refurbished phone replacement.
Repair stores with full technical staff are able to fix phones well within an hour, often in as little as 10 or 15 minutes, a distinguished transformation in service.
2. Executive Summary
Acute iPhones Repair Shop is a licensed cell phone repair shop. We have been able to secure a standard office facility in a central business district in Los Angeles – California. We are an Iphone and cell phone repair company that is set to contend in the exceedingly competitive cell phone repair services industry not only in Los Angeles – California, but also throughout the United States market.
Acute iPhones Repair Shop will undertake all aspects of cell phone repair services such as repairing cell phones, smartphones and tablets, Screen repair, Water impaired repair, Battery replacement, Cosmetic damage repair, and other cell phone repair services.
Our business aim is to become one of the leading iphone repair shops in Los Angeles and we will make sure that we do all we can to contest positively with leaders in the industry including cell phone manufacturing companies that are also into cell phone repair.
Our workforce are going to be nominated from a pool of highly experienced cell phone technicians in and around Los Angeles – California and also from any part of the United States of America as the business develops. We will take all our labor force through the required exercises that will help them to meet the expectations of the company and to compete with leading cell phone repair companies in the United States.
At Acute iPhones Repair Shop, our client’s best concern will always come first, and whatever we do will be guided by our values and professional ethics. We will ensure that we hold ourselves answerable to the highest standards by meeting our client’s needs precisely and completely.
Acute Cell Phones Repair shop is owned by Andy Sitin, who is a computer cum cell phone engineer who graduated with from Illinois Institute of Technology (B.Engr. Computer Engineering) and his friend and business partner Bryan Meadow (B.Sc. Business Management).
They have a combined experience that can help them build Acute Cell Phones Repair Shop to favorably compete with other leading cell phone repair businesses in the United States of America.
3. Our Products and Services
Acute Cell Phones Repair Shop was founded with the aim of maximizing profits in the cell phone repair services industry. We want to contest with leading cell phone repair companies in the United States which is why we have put in place a knowledgeable quality assurance team that will ensure that every repair job carried out meets and even surpasses our customers’ anticipations.
We will work hard to ensure that Acute iPhones Repair Shop is not just accepted in Los Angeles – California but also in other cities in the United States of America where we intend opening our outlets. Our products and services are listed below;
- Repairing cell phones
- Refurbishing smartphones
- Revamping tablets
- Screen repair
- Water damage repair
- Battery replacement
- Cosmetic damage repair
- Other cell phone repairs
4. Our Mission and Vision Statement
- Our vision is to create a standard cell phone repair company whose services and brand will not only be accepted in Los Angeles but also in other cities in the United States of America.
- Our mission is to provide specialized cell phone repair services that will assist cell phone owners in safeguarding their mobile gadgets.
- We want to build a cell phone repair company that can satisfactorily compete with other brands in the industry.
Our Business Structure
Acute Cell Phones Repair Shop is a cell phone repair company that proposes to start small in Los Angeles, but hopes to grow big in order to compete favorably with leading phone repair companies in the industry. We are conscious of the significance of building a solid business structure that can support the picture of the kind of world class business we want to own. This is the reason why we are committed to only hire the best hands within our area of operation.
At Acute iPhones Repair Shop, we will guarantee that we will employ people who are competent, meticulous, creative, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers).
As a matter of fact, profit-sharing prearrangement will be made accessible to all our senior management staff and it will be based on their performance for a period of five years or more. As such, we have decided to hire qualified and competent hands to occupy the following positions;
- Chief Executive Officer
- Head, Technical Services
- Human Resources and Admin Manager
- Sales and Marketing Executive
- iPhones Repair and Maintenance Engineers and Technicians (10)
- Client Service Executive
5. 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; developing incentives; developing a climate for offering information and opinions.
- Responsible for providing direction for the business
- Constructs, connects, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
Head, Technical Services:
- Serves as project manager of the organization; works directly with employees
- Develops strategic plan by studying technological, and financial opportunities; presenting assumptions; recommending objectives.
- Accomplishes subsidiary objectives by establishing plans, budgets, and results measurements; allocating resources; reviewing progress; making mid-course corrections.
- Builds company image by collaborating with customers and employees; enforcing ethical business practices.
- Maintains quality service by establishing and enforcing organization standards.
- Maintains professional and technical knowledge by attending educational workshops; reviewing professional publications; establishing personal networks; benchmarking state-of-the-art practices; participating in professional societies.
- Makes certain that the technical department performs efficiently, coordinate employee efforts, and facilitate communications between management and cell phones repair technicians
- Ensures that the organization work in line with international best practices.
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.
- Defines job positions for recruitment and managing interviewing process
- Carries out induction for new team members
- Responsible for training, evaluation and assessment of employees
- Responsible for arranging travel, meetings and appointments
- Oversees the smooth running of the daily office activities.
Sales and Marketing Manager
- Writes winning proposal documents, negotiate fees and rates in line with organizations’ policy
- Responsible for handling business research, market surveys and feasibility studies for clients
- Responsible for supervising implementation, advocates for the customer’s needs, and communicate with clients
- Develops, executes and evaluates new plans for increasing sales
- Creates new markets cum businesses for the organization
- Empowers and motivates the sales team to meet and surpass agreed targets
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Responsible for financial forecasting and risks analysis.
- Performs cash management, general ledger accounting, and financial reporting for one or more properties.
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensures compliance with taxation legislation
- Handles all financial transactions for Acute Cell Phones Repair Shop, LLC
- Serves as internal auditor for Acute Cell Phones Repair Shop, LLC.
iPhone Repair and Maintenance Technicians (8)
- Responsible for Repairing cell phones
- Responsible for Repairing smartphones
- Responsible for Repairing tablets
- Responsible for Screen repair
- Handles Water damage repair
- Handles Battery replacement
- Handles Cosmetic damage repair
- Handles any other cell phones repair
Client Service Executive
- Welcomes clients and potential clients by greeting them in person or on the telephone; answering or directing inquiries.
- 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 clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries
6. SWOT Analysis
For any business to be seen as a force in the market, there has to be a high level of acquaintance about its strengths and weaknesses. Acute Cell Phones Repair Shop employed the services of a core professional in the area of business consulting and structuring to assist our organization in building a well – structured cell phone repair business that can favorably compete in the highly competitive cell phone repair industry in the United States.
One of the crucial roles these experts played was to work with the management of our organization in conducting a comprehensive SWOT analysis for Acute iPhones Repair Shop, LLC. Here is a rehash of the SWOT analysis that was conducted on behalf of Acute iPhones Repair Shop.
Our core strength lies in the power of our workforce. We have a team of highly trained iphone repair technicians, a team with excellent qualifications and experience in various niche areas in the cell phone repair industry. Aside from the synergy that exists in our wisely selected workforce, our services will be guided by best practices in the industry.
As a fresh iphone repair business in Los Angeles – California, it might take a while for our group to break into the market and gain acceptance especially from top profile clients in the already saturated cell phones repair industry; that is possibly our major weakness. Another weakness is that we may not have the required cash to pump into promoting our business the way we would want to.
There are lots of opportunities available in the very competitive cell phone repair business in America. No doubt, the opportunities in the cell phones repair services industry is massive considering the number of individuals that own cell phones and other mobile communication devices. As a cell phone repair company, we are ready to take advantage of any opportunity that is available in the industry.
There isn’t a business that isn’t faced with tests because all businesses at one point or the other is faced with intimidation circumstances. So, just like any other business, one of the threats that we are likely going to face is economic downturn. Another threat that may likely confront us is the arrival of a new iphone repair company in same location where our target market exist and who may want to adopt same Business model like us.
7. MARKET ANALYSIS
- Market Trends
The iPhone Repair industry has experienced strong growth during the past decade as smartphone and tablet usage increased. With the rising popularity of expensive but fragile smartphones, there is indeed a major revenue boost for the industry.
One challenge that might confront players in this industry is that in the coming years, rapid technological change, the falling price of iphones and of course rising family and individual incomes are expected to encourage the replacement of mobile devices as against repairing them when they are damaged.
It is understandable that the Cell Phone Repair industry is highly split and small businesses are known to regulate the industry. There are a large number of small companies and non – employers in the industry focusing on cell phone repair services that operate independently and are directed to serve a small geographic region.
The industry focus has remained very stable in the last five years, despite the fact that cell phone repair services are generally owned by small, independent operators. Lastly, the cell phones repair industry will continue to evolve due to the advancement of cell phones technology that makes it to fragile especially the screens.
8. Our Target Market
We are aware that with the right words, we will be able to appeal to all our probable clients within a short time of starting our cell phones repair business in Los Angeles – California. We conducted a market survey and feasibility studies and we are certain that there is a wide range of clients who would need our services from time to time.
In view of that, we have fashioned strategies that will allow us reach out to various corporate organizations and individual who we know can’t afford to do without our services. Below is a list of the people that we will specifically market our services to;
- Every individual who owns iphones within our target location
- Every individual who owns smart phones within our target location
- Every individual who owns ipads with our target location
- Corporate organization that make use of smart phones and tablets to run their businesses.
Our Competitive Advantage
Enduring in the business world as iphone repair company necessitates more than your expertise but also how to network with key people that matters.
Without a doubt, there are loads of big time investors (Cell Phones Manufacturing Companies), that have a stake in the iphones repair industry; but one thing is certain, there is room big enough to house new cell phone repair companies. What smaller iphone repair companies need to do to endure in the industry is to focus on providing repair and maintenance services to households, individuals, estates, communities, schools, hospitals and hotels et al.
Our competitive advantage lies in the power of our team; our workforce. We have a team of highly trained cell phone repair technicians, a team with excellent qualifications and experience in various niche areas in the industry. Aside from the synergy that exists in our carefully selected workforce, our services will be guided by best practices in the industry.
Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and objectives.
9. SALES AND MARKETING STRATEGY
- Sources of Income
When the issue of funding comes to mind, one of the things that accompany that thought is where to get the startup funds from. Acute iPhones Repair Shop is established with the aim of maximizing profits in the cell phone repair industry and we are going to go all the way to ensure that we do all it takes to meet and surpass the expectations of all our clients.
We will generate income by offering the following cell phones repair related services;
- Repairing cell phones
- Repairing smartphones
- Repairing tablets
- Screen repair
- Water damage repair
- Battery replacement
- Cosmetic damage repair
- Other cell phones repair
10. Sales Forecast
One thing is evident, there would always be cell phones, smart phones and tablets owners who would need the services of cell phones repair companies whenever their devices get impaired.
We are well positioned to take on the available market in the industry and we are quite optimistic that we will meet our set target of generating enough profits from the first six months of operation and grow our company to enviable heights.
We have been able to examine the cell phones repair market, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to similar startups in Los Angeles – California.
- First Year: $150,000
- Second Year: $250,000
- Third Year: $500,000
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 offering same cell phone repair services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.
- Marketing Strategy and Sales Strategy
We are not going to take publicity lightly because we are mindful of the fact that there is a hard struggle in the iphone repair industry, hence we have been able to hire some of the best marketing experts to handle our sales and marketing.
Our sales and marketing team will be employed based on their vast experience in the cell phone repair industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall business goal of Acute Cell Phone Repair Shop, LLC.
Acute iPhones Repair Shop, is set to make use of the following marketing and sales strategies to attract clients;
- Introduce our cell phones repair company by sending introductory letters alongside our brochure to individuals, corporate organizations and key stake holders.
- Advertise our business in relevant business magazines, newspapers, TV and radio stations.
- List our business on yellow pages ads (local directories)
- Attend relevant international and local expos, seminars, and business fairs et al
- Create different packages for different category of clients in order to work with their budgets and still deliver excellent services
- Leverage on the internet to promote our business
- Engage direct marketing approach
- Encourage word of mouth marketing from loyal and satisfied clients
11. Publicity and Advertising Strategy
We have been able to work with our brand and publicity advisers to help us map out promotional and advertising strategies that will help us walk our way into the hearts of our target market. We are set to become the number one choice for individuals in the whole of Los Angeles and beyond which is why we have made provisions for effective publicity and advertisement of our cell phone repair and maintenance company.
Below are the platforms we intend to promote and advertise acute iPhones Repair Shop;
- Place adverts on both print (newspapers and magazines) and electronic media platforms
- Sponsor relevant community based events / programs
- Leverage on the internet and social media platforms like Instagram, Facebook , twitter, YouTube, Google + et al to promote our services
- Install our billboards in strategic locations all around Los Angeles – California
- Engage in roadshows from time to time in targeted neighborhoods
- Distribute our fliers and handbills in target areas
- Contact corporate organizations by calling them up and informing them of Acute iPhones Repair Shop and the services we offer
- List our cell phones repair and maintenance company in local directories / yellow pages
- Advertise our cell phones repair and Maintenance Company in our official website and employ strategies that will help us pull traffic to the site.
- Ensure that all our staff members wear our branded shirts and all our vehicles are branded with our company logo
12. Our Pricing Strategy
At Acute Cell Phones Repair Shop, we will keep the prices of our services below the average market rate by keeping our overhead low and by collecting payment in advance especially from corporate organizations who would hire our services. In addition, we will also offer special discounted rates to all our customers at regular intervals.
- Payment Options
We want to give our clients an all-round experience where we wouldn’t be found wanting for any reason. At Acute iPhone Repair Shop, our payment policy will be all inclusive because we are quite aware that different people prefer different payment options as it suits them.
Here are the payment options that we will make available to our clients;
- Payment via online bank transfer
- Payment via check
- Payment via mobile money
- Payment with cash
In view of the above, we have chosen banking platforms that will help us achieve our plans with little or no itches.
13. Startup Expenditure (Budget)
In setting up any trade, the amount or cost will depend on the method and scale you want to undertake. If you mean to go big by renting a place, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.
The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked. This is what it would cost us to setup Acute Cell Phone Repair Shop, LLC in the United of America;
- Business incorporating fees in the United States of America will cost – $750.
- The budget for Liability insurance, permits and license will cost – $3,500
- Acquiring an office space or warehouse that will accommodate our employees for at least 6 months (Re – Construction of the facility inclusive) – $100,000.
- The amount required to purchase the needed software apps, tool box and repair equipment for cell phones and other mobile communications device – $15,000
- Equipping the office (computers, printers, servers / internet facility, furniture, telephones etc) will cost – $10,000
- Launching an official Website will cost – $500
- Amount need to pay bills and staff members for at least 2 to 3 months – $70,000
- Additional Expenditure such as Business cards, Signage, Adverts and Promotions will cost – $5,000
Going by the report from the market research and feasibility studies conducted, we will need about two hundred and fifty thousand (250,000) U.S. dollars to successfully set up a standard cell phone repair company in the United States of America.
Generating Startup Capital for Ariel Cell Phones Repair Shop, LLC
Acute iPhones Repair Shop is a business that will be managed by an engineer – Andy Sitin and his friend Bryan Meadow. They are the financiers of the business which is why they decided to restrict the sourcing of the startup capital for the business to just three major sources.
These are the areas we intend generating our startup capital;
- Generate part of the startup capital from personal savings and sale of stocks
- Generate part of the startup capital from friends and other extended family members
- Generate a larger chunk of the startup capital from the bank
N.B: We have been able to generate over $80,000 (Personal savings $50,000 and soft loan from family members $30,000) and we are at the final stages of obtaining a loan facility of $100,000 from our bank. All the papers and documents have been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
14. Sustainability and Expansion Strategy
The prospect of a business lies in the number of loyal customers that they have, the competence of their employees, their investment strategy and business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business closes shop.
One of our major goals of starting acute iPhones Repair Shop, is to build a business that will survive off its own cash flow without injecting finance from external sources once the business is officially running.
We know that one of the ways of gaining support and winning customers over is to offer our cell phone repair and maintenance services a little bit cheaper than what is obtainable in the market and we are prepared to survive on lower profit margin for a while.
Acute iPhone Repair Shop 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 ethos is designed to drive our business to superior heights and training and retraining of our workforce is at the top burner.
We know that if that is put in place, we will be able to effectively 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.
- Business Name Availability Check: Completed
- Business Incorporation: Completed
- Opening Bank Accounts with various banks in the United States: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Securing a standard office facility for our workshop: Completed
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Conducting Feasibility Studies: Completed
- Generating part of the startup capital from the founders: Completed
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents: In Progress
- Design of Logo for the business: Completed
- Secure trademark for our products: In Progress
- Printing of Packaging/Promotional Materials: Completed
- Recruitment of employees: In Progress
- Purchase of software apps, tool box and other repair equipment
- Purchase of furniture, office equipment, electronic appliances and facility facelift: In progress
- Creating Official Website for the business: In Progress
- Creating Awareness for the business: In Progress
- Health and Safety and Fire Safety Arrangement: In Progress