Are you interested in starting your own company? Do you love mobile technology? Do you have access to huge start – up capital, can you carve a niche for yourself in a highly competitive market? If you answer yes to these questions, then you should consider starting your own cell phone company. No doubt there are several cell phone manufacturing companies all over the globe, but that does not place a restriction on whoever wants to start his or her own cell phone company.
Cell phone manufacturing business is indeed a highly profitable business venture if you must know. Although, you would need to work pretty hard before your cell phone brand can be accepted in the market simply because of giant corporations whose brands have already dominated the market; but one thing is certain, if you are able to penetrate a chunk of the available market, then you can be rest assured to make huge returns on your investment.
It is important to clearly state that starting a cell phone company is not one of those businesses that can start making profits from immediately. This type of business takes time before you can start making profits from it. Starting a cell phone company can be considered to be a capital intensive business but is a profitable business.
Here are few tips that can guide you if you want to start your own cell phone company in your country;
Starting a Cell Phone Company – Sample Business Plan Template
Table of Content
- 1. Carry out Your Feasibility Studies and Markey Survey
- 2. Write Your Business Plan
- 3. Source for Start – Up Capital and Business Partners
- 4. Incorporate Your Cell Phone Company
- 5. Lease an Office Facility and Set up the Office (Factory)
- 6. Hire Experts
- 7. Develop Your Brand, Promote Your Brand and Market Your Product
I am sure that you have more than a handful of cell phone brands in your country or state. If you do, then you need to think deep before stepping out to start your own cell phone company. feasibility studies and market survey will guide you in making informed business decisions.
One thing you need to do before investing your money and resources in starting a cell phone company is to conduct a feasibility study to know the viability of the business in your country and also go out into the market to conduct your market survey to be sure that people are willing to purchase new cell phones that are manufactured in your country.
If you can’t get positive responses from people within the area you intend setting up your cell phone company, then you need to reconsider your decision. Just ensure that you send questionnaires out that will help discover the features that cell phone users would love to have in their cell phones.
Once you are certain that starting a cell phone business is just the right business for you to start, and then you should proceed to hire experts to help you write a good and workable business plan; a business plan that can comfortably pass reality check. The truth is that, once you have a good business plan in place, it will make it easier for you to execute your plans in an organized way.
Starting a cell phone company is indeed a capital intensive business and most likely you might not have enough capital to execute the job. Hence, what is expected of you to do is to go out there to source for start – up capital. You can invite business partners to join you in actualizing your dream of starting a cell phone company.
4. Incorporate Your Cell Phone Company
You are expected to incorporate your cell phone company before you can be allowed to go into full business. In case you don’t know the process of incorporating a business in your country, you can visit the corporate affairs commissions of your country to make enquiry or you can contract a lawyer to help you handle the whole process.
Part of what you also need to do is to obtain a Tax Payer’s ID, open a corporate account for your business and then apply and obtain any required license and permit that will enable you run a cell phone company in your country.
5. Lease an Office Facility and Set up the Office (Factory)
Of course, there is need for you to lease a facility that is large enough to accommodate a production factory and administrative block. Just contact your realtor to help you scout for a big facility, it could be an abandon warehouse or similar facility. Once you are able to secure a good and spacious facility, you are required to install the needed machinery and office equipments.
6. Hire Experts
It is important to hire experts, those who have experience in the cell phone industry to be part of your first staff. The amount you are likely going to pay them might be much, but it will pay you in the long run because they will help you set up structures and processes that will enable your cell phone company run on auto pilot.
Cell phones just like some other products that are highly competitive in the market requires serious branding and promotion before you can break into the existing market.
That is the reason why you must pay attention to details when conducting your market survey, you should be able to note what people would need in their cell phone and ensure that you put such features in your cell phones. In marketing your product, you can go on a road show, participate in an expo and promote events / programs in your country.
The nature of this type of business might be tasking, but of you are able to follow the points highlighted above, you are sure going to successfully start your own cell phone company.