CELL PHONE ACCESSORIES BUSINESS PLAN SAMPLE
We are in an era where cell phones have become an integral part of our daily lives. This is a multi-billion dollar industry that continues to thrive with innovative products and services.
However, our focus is on the cell phone accessories side of things. This cell phone accessories business plan sample targets readers who wish to start their cell phone accessories business and need help with their plans.
Are you one of those? If you are, relax and read through the article as we guide you through the entire process. By using this as a guide, you need not stress yourself over how to structure your plan.
Ready? Let’s get cracking!
About Cell Phone Accessories Retail Business
A cell phone accessories business is undoubtedly one of the readily available avenues to make good gains in the world of mobile phones. There are quite several reasons cell phone accessories businesses are very profitable.
Some of them are:
- Starting a cell phone accessories business does not require a huge amount of capital. This means you do not need to wait until you have a bulk of cash before you start one
- It leads to really high profits irrespective of the amount that was used to start initially.
Here is a sample business plan for starting a mobile accessories business.
Telecoms Masters® is a cell phone accessories business that sells and supplies cell phone accessories of different brands. We sell accessories for major cell phone brands that are popular among users.
We are headquartered in Phoenix’s Central Business District in Arizona. Telecoms Masters® has partnered with these cell phone brands to provide an assortment of accessories for users.
- Products and Services
In the meantime, our primary area of focus would be the sale of cell phone accessories. However, within 2 years from the time of commencement of business operations, we will include cell phone repairs. We will be selling accessories such as screen protectors, mobile power banks, selfie sticks, and phone casings.
Others are cellular signal boosters, pop sockets, and battery extenders among others.
- Vision Statement
Although we are launching as a small business, our sights are set way beyond our current scale. We plan on becoming major suppliers of cell phone accessories to both end-users and wholesalers. Also, we will be opening outlets in major cities across the 50 states of America. We hope to have achieved this within 8 years.
- Mission Statement
Our mission at Telecoms Masters® is to only work with reputable brands. This is to help establish our business as a major provider of quality cell phone accessories.
Our outlets will be patterned in such a way that whoever walks in is assured of a good deal in addition to finding several options to choose from. In other words, our outlets will be a one-stop shop known for quality and affordability.
We are selling a 30% stake in our business to investors. This amounts to $1,500,000.00. This will be valid for 8 years after which 100% ownership will return to the business owners.
This is a fair deal that not only allows the investor(s) to recoup their investments but also shares in the profitability of the business.
- SWOT Analysis
We are concerned with our level of readiness to launch into the cell phone accessories business. Hence to measure our capability as well as areas that need improvement, we have analyzed our business structure by taking into consideration key indices that reveal our strength.
The results are as follows;
We are a small business but understand the dynamics of the cell phone accessories market. We have also formed vital partnerships with product manufacturers. These have been carefully chosen and offer attractive discounts that enable us to have good profit margins. This creates a win-win situation.
Also, technicians will be trained to start from our second year. This will lead to the creation of a cell phone repair department.
Our cell phone accessories business is still in its infant stages. This means that we have limited financing. This will eventually be overcome as the business grows or expands. Then, we will embark on an aggressive expansion drive.
However, we have a limited capacity in the short term.
There is no shortage of opportunities. This is because newer and better models of cell phone accessories are being developed. The vital partnerships we have built with product manufacturers means that we will be given first preference for these products.
Because people want to have a feel for the newest products, we have the opportunity to increase sales significantly.
A decline in income will directly affect the purchasing power of our clients. This will affect the entire chain of production and distribution. Therefore effective government policies are important to the profitability and growth of our business.
An economic recession will also affect production and sales too.
- Financial Projection
A financial projection is a forecast of sales over a specific time frame. We have done this to cover three years. Our findings have been encouraging and reveal a steady climb in sales.
Current market conditions, as well as data obtained over 5 years, helped us reach our current projections as summarized below;
- First Financial Year $450,000.00
- Second Financial Year $800,000.00
- Third Financial Year $1,500,000.00
- Competitive Advantage
We have taken a great deal of time to carefully select our partners (cell phone accessories manufacturers). This was done to enable us to obtain quality products as well as offer competitive prices for our products. This is only possible when there is a good profit margin. This also gives us a better deal/return which speeds up our growth.
- Target Market
Almost everyone uses a cell phone. This has become a necessity and aids easy communication. These phones come with multiple functionality and accessories make for better use of these devices. Given this, our target market consists of people using smartphones. Such people may need screen protectors or casings, headphones, etc.
Did you expect it to be this easy? We have stripped this cell phone accessories business plan sample of all complexities. You can put together a clearer and comprehensive plan. This not only helps interested investors to understand but also helps you implement its contents.