CELL PHONE MANUFACTURING BUSINESS PLAN SAMPLE TEMPLATE
Literally, we live in a world of technology. Technology has virtually taken over every sphere of the spherical world.
Hence, there is need to go along with the trend.
Among technological inventions is the mobile phone. This has over time aided in communication with people in far distant places. Communication which includes calls, messaging, mails, among others.
With the launch of mobile invention, companies have been set up to build varieties of mobile phones. Among these companies are Samsung, Nokia, IPhone, Innjoo, Infinix among other brands.
It is evident that more than 80% of the world’s population make use of Phones of different brand, therefore this area of technology will always be lucrative no matter the season.
To start a phone company is not an easy venture considering the technology know-how and the logistics required.
However, when all that is required are set, then it is a step away.
Here is a sample business plan for starting a cell phone production company.
- Get your Phone Company Licensed and Registered
Depending on the country you intend to launch your mobile phone company in, licensing may be a prerequisite to starting. You may be required to get license from the appropriate body. All you need to do is to find out whether licensing is required or not.
Important also, is for you to register your brand name, official company address and some other requirements. This is important because it show prospective investors and other interested person how serious your company is. You can find out about the registration procedures from the Corporate Affairs Commission in your location
- Get A Location
Obviously, your company won’t be built on air. You need to find a large space that will accommodate all the equipment and other technology requirements. This is where the product will be designed and produced in market quantity.
- Invite Investors
If you have the capability to bear all the cost that will be required to keep the company up and running, then you can start without investors. However, considering the heavy cost implications that are associated to start a phone company, it is wise and advisable to get people to invest in your business.
Although with the presence of investors it means you don’t own the company yourself but you can have the largest share in the company.
- Hire Experts
It is crucial to hire those who are very good technology wise. It is important to hire those who have a previous experience at phone manufacturing or something similar. You just don’t have to hire anybody; you have to hire the right people who are best for the task.
- Create A Good Design or Prototype
You need to get a design for your phone. You need to define how you want your products to look like and all the enabled features that will be embedded in it. This is a step to launching your products.
You need to build your prototype and test it to know what adjustment should be made on it. The result of the prototype will determine the overall market production.
- Register Your Design
To be protected under the Intellectual Property Law, you need to register your design so as to show your ownership of the design and to be able to wade off others from copying or making use of your design without your outright consent. If you fail to register it, you may not have the right to sue anybody who uses or copies it without your consent.
- Limited Production
For a start, the quantity produce should not be too much in the market. You have to create a level of quantity you can manage to monitor the reception rate of the product in the market. Inferably, you have to make it scarce. Let the market ask for more before you venture into producing more.
The brand won’t create the necessary awareness for itself. Starting a phone company, there are a number of brands you have to compete with to stay firmly in the market. Therefore, company has to market the brand and take advantage of the vastness of the Internet.
You can advertise on the Internet through social media platforms, search engines among others. The best way to reach a lot of people throughout the world regardless of country, culture or religion is through the Internet. Also the traditional advert method of television stations, Radio and newspapers should also be explored.
In conclusion, it should be noted that starting a phone company is not an instant means of making so much money.
However, with sacrifice, dedication, hard work and a good team success is guaranteed. As a starter, what should really matter it taking over the market space from other brands then there will be a lot of financial returns.