How would one go about starting a cell phone store?

[bella for life]

A person I know wants to start a cell phone store with phones like Boost. Do you know how he can go about that? He already has the place and some monies saved up for his store but he does not know how to get the phones or any of the other things that can come along with this. Can you give me some ideas/ pointers to help him.
Thank you any little bit helps.

[henry]

1


Find suppliers. There are two kinds of suppliers. One is an independent agent who sells phones compatible with all service providers. The other is an exclusive, authorized retailer who only sells products associated with one service provider. One is not necessarily more profitable than the other. An authorized retailer is similar to a franchise and the business owner will receive support from the service provider and get exclusive options for pricing and new products. However, an independent retailer is free to find their own suppliers and has a lot more control of the business. They are also able to offer customers objective opinions on service options and feature a wider selection of products and services from competing service providers. They are, however, limited in what they can offer from some service providers because they are not an exclusive retailer.

To find either kind of supplier, contact equipment manufacturers directly. For example, if you want to carry Nokia phones, you should contact your local Nokia sales office.

2


Write a business plan. The business plan is a comprehensive road map of how your business will operate from its start to several years ahead. Finding cell phone suppliers and negotiating sales contracts will be key steps in opening your cell phone store, so make sure to include them in your business plan. Your plan should be all encompassing and include all areas of the business, including budget and finance, marketing, employees (are they knowledgeable about the latest phones?), and store ownership.

3


Determine a location. Location is a key factor in determining businesses success. Select a location that does not have a high level of competition. Preferably the store is located in a well-populated area that is easy to access and close to a dense population. Malls or shopping promenades are ideal for cell phone stores because of the heavy foot traffic.

4


Offer complementary products. Accessories such as hands-free headsets and phone cases are perfect impulse items that any cell phone store must carry. The profit margin on such products is very high and you can easily carry a large amount of stock to fit most model phones.

5


Market the business. Directly market your store to local residents as they are the ones who will be frequenting your store. Traditional mediums such as print ads and fliers work well. You can also use social networking sites and Internet classified ads to market your business for free.