Are you interested in starting a VOIP phone company? Do you need a sample VOIP phone business plan template? If your answer to any of the questions above is YES, then I advice you read on. VOIP stands for Voice over Internet Protocol and it is a technology that allows people to take advantage of broadband internet connectivity to make phone calls at cheaper rates.
VoIP allows users to do more than make cheap calls. It also allows users to make computer calls for free or watch videos on the internet at cheap rates. The demand for VoIP services continues to rise as more people are embracing this technology. As an entrepreneur interested in investing in the information technology industry, starting a VoIP phone company is an option you should seriously consider.
Starting a VoIP phone company is not as tough as it sounds. You have an option of becoming an affiliate under an already established service provider if you cannot start your own brand out rightly. Here are some steps to take when you want to start your own VoIP phone company.
Starting a VOIP Phone Company – Sample Business Plan Template
Table of Content
- 1. Learn about the industry
- 2. Decide on your business strategy
- 3. Register your business
- 4. Obtain a practicing license
- 5. Secure financing for your business
- 6. Search for trusted service providers
- 7. Create a website for your business
- 8. Device a payment strategy
- 9. Advertise your business
- 10. Launch your business
- 11. Receive feedbacks from clients
First, you have to gather as much information as you can about the business and the industry as a whole. This can be achieved by reading books, joining discussion forums and studying other people’s businesses.
2. Decide on your business strategy
Next, you should determine how you want to operate. You can either start your own VoIP phone company or become a reseller for an already established VoIP phone company.
3. Register your business
To start your own phone company, you would be required to register and incorporate your business with the business registration office in your state. It is advisable to incorporate your business as a Limited Liability Company so that your business can be run as a limited liability company.
4. Obtain a practicing license
The next step is to obtain a license that allows you operate a VoIP phone company.
Before you start your VoIP phone company, you need to figure out how you will finance the business. You should start by writing a business plan which would contain all your business goals and what you need to accomplish them. When you have your business plan, you can now contact your bankers or financiers who would help you secure loans to start your business.
6. Search for trusted service providers
Many VoIP technology companies welcome potential resellers and this is an option you may want to look into. You can search for service providers that you can partner with. There are companies that offer private-label services where you would be able to resell their services as if it were your own brand.
You can also partner with other business owners for co-branding options. You may also become a reseller and earn commission from directing end-users to existing VoIP companies.
7. Create a website for your business
VoIP business is a virtual kind of business and it is mandatory that you create a business website for your business. Your website would make it possible for people to order for your services directly. Clients would also have access to information such as call rates and phone plans. They would also be able to contact you whenever they need to make enquiries or complaints.
8. Device a payment strategy
Of course, you are not running a charity organization. Your clients would be expected to pay for the services you render to them but how will they do that since you operate an online based business?
You need to register with a credit card merchant or a payment processing company that would help you process your online payments and deposit it into your business account. It is advisable that you open a separate bank account for your business so that it can be used strictly for your business.
9. Advertise your business
You need to look for a way to direct traffic and create awareness for your business. You can achieve this by advertising your business. The best way to advertise your business is through the internet. You can make use of Google advertising platforms or social networking sites like Facebook, twitter or Instagram. You can also advertise on forums or websites where there are lots of tech-savvy people.
Advertising is a part of your VoIP business that you cannot neglect because the success if your business depends on the number of subscribers you are able to get. A good way to get subscribers as a beginner is to give out discounts and freebies.
10. Launch your business
When you have all the above factors figured out, you can now launch your business and start taking orders from interested subscribers.
You should make sure that you have a user friendly website that makes it easy for subscribers to select phone plans and you should also ensure that you provide detailed instructions on how to set up and configure their phone system. Some of your subscribers may live far away from you hence it is important to figure out how to ship the necessary hardware to them.
11. Receive feedbacks from clients
Don’t abandon your clients once the deal is sealed. Make sure you provide after sales support to your customers. It is also necessary to set up a customer service department that would help to listen to customer challenges and fix them promptly.