The cell phone repair industry has grown a lot over the years since 1996. Earlier, most of the people in the western countries including US, Canada and the entire Europe had the misconception that it is feasible to buy a new phone instead of fixing your faulty handset. People used to throw away the faulty device and go for a brand new one. This mindset of most people has changed over the years. People now prefer to get their smartphones and tablets repaired instead of throwing them away
I know of many technicians who started from scratch in the gadgets repair business and today over the years, they have become millionaires. If you think that there is no income in repairs, then how come these repair centers have grown over the years? People in Europe and developed countries used to throw away their handsets if it ever becomes faulty before but not now! They know its gonna be fixed at a much lower price than buying a new one! After all iPhones and Samsung Galaxys pinch the pocket while buying them.
The scope is very high is most of the countries where there are very few repair centers. There is huge and tough competition in almost all Asian countries in this field, but the scope is very high in almost all other continents like Europe, the Americas, Africa, Australia. Countries like India, Pakistan, Sri Lanka, Bangladesh, Egypt, Phillipines, Indonesia have huge competition in this sector. It is only the way you conduct your business that matters. If you think there is huge competition in Asia, even here the centers earn a descent income as compared to other repair businesses.
You can offer the below 6 services in your cell phone store:
- Repairs And Fixing.
- Sale of accessories like headphones, screen guard, chargers, etc.
- Refills And sale of prepaid and postpaid SIM cards.
- Downloading of multimedia like videos, ringtones, etc. This works in countries where people are less tech-savvy.
- Buying And Selling of used and second hand cell phones.
- Selling new phones.
It all depends on the scope in your country or locality. If you have the finance available and if it is feasible to do all the above 6 businesses, you can very much do all the above in your shop.
But the most profitable business among the 6 mentioned above is that of repairs. People are willing to throw away a lot of money to get their high-end devices fixed. You also get a lot of respect and reputation in places where there is no competitor from people wanting to get their gadget fixed sooner! If you gain reputation in your area and fix just 10 handsets daily, you will earn a descent profit.
Hence, if you see it overall, there is a huge scope in the cell phone repair business in the near future.