Starting a phone accessory business can be highly competitive and profitable. Almost every home in the country has a mobile phone, which also creates a high demand for phone accessories.
Although there are websites and online stores that sell these phone gadgets, there is still a need for a physical business for this business to thrive. However, for this business to thrive, you need to find a location with limited competition.
The business simply involves buying phone accessories in bulk and selling them to customers who are in need of such items. Interestingly, this business is not capital intensive and it offers an opportunity to make money while meeting the need of your customers.
What is a Phone Accessory
A mobile phone accessory is any hardware or software that is not integral to the operation of a mobile phone as designed by the manufacturer.
Below is a list of phone accessories. However, this list is not exhaustive.
- Pouches and sleeves
- Safety Straps
- Flip cases and wallets
- Screen protection and body films
- Drop and shock protection
- Leather Case
Cost of Starting Phone Accessories Business in Ghana
Before venturing into any business, you need to first of all count the cost. Once the cost has been ascertained, you can start sourcing for funds to start your business.
As earlier mentioned, the phone accessory business is not capital intensive. To set up a phone accessory shop, you will need a minimum capital of GH₵20,000 for operations to begin. With time, you can scale up and expand your business.
How to Start Phone Accessories Business in Ghana
Once you have understood the cost, the next step is to start your phone accessoy business. Below is a step-by-step guide on how to get started with your phone accessories business in Ghana.
1. Write a Business Plan
Every business must have a plan. Your business plan contains everything that will guide you through your business journey. With a good business plan, there should be detailed market analyses, competitors, market size, and feasibility research. A well-written business plan can also be used to access funding for your business.
You can also reach out to other phone accessory businesses and check their mode of operation and how they set out their outlet and serve their customers.
2. Register Your Business
Once you’ve crafted your phone accessories business plan, you need to proceed to register your business. To get started, read our guide on how to register your business in Ghana. This will help you get approved by the appropriate authorities. Additionally, having a legal business entity can help you secure funding for your business.
3. Secure a Location
The best place to set up a phone accessory shop is in an area with high human activities. You don’t want to secure a shop in an isolated place where people rarely pass through. The essence of getting a shop in a strategic location is visibility.
4. Market Your Phone Accessory Business
With everything in place, you need to create awareness among your potential customers. You can start by creating marketing materials like banners, flyers, and posters. You also need to set up a social media profile for online visibility.
With everything in place, you’re ready to scale your business and turn it into a profitable venture. Also, endeavour to invest in customer service to increase customer retention for your business.