Making its way into the Nigeria Market Officially in 2001, mobile phones ever since have turned around the communication sector with the speed of Lightening. Statistically speaking, over 80% of Nigeria’s population uses mobile phones.
But Interestingly, mobile phones didn’t come alone, they came together with various accessories that perform different functions. These accessories range from high-tech instruments to normal everyday Products.
I’m talking of;
Chargers, batteries, earpieces, bluetooth devices, headsets, memory cards, pouches, power banks, screen guards, table phone holders, car phone holders, smart wristwatches etc.
How to start a Phone Accessories Business in Nigeria
Amongst many things to be done, below is a quick step-by-step guide to enable you to start right away.
1. Check if it is a business you can do as a person.
Not every business will go down well with everybody, some businesses if you will agree with me thrives better in the hands of some people than others, it all depends on the drive and motivation engineering the move. So find out, what exactly is your passion and drive.
2. Study the Market
It won’t be wise for anybody to just badge into something and set up a store all in the name of I’m doing business, if that approach is followed, it will only lead to frustration in the end. There has to be a careful analysis carried out about the market, to uncover the competitive nature of the market, the purchasing behaviour of buyers, the pricing strategy deployed most and other key demographic features.
3. Decide the scale of business you have in Mind
Before you fly right into setting up a phone accessories shop in Nigeria, it’s important you decide if it is a huge investment that will see a huge influx of goods of different varieties and would need multiple hands to oversee different sections, or a small scale enterprise, just for a start. You decide that earlier on.
4. Choose a suitable Location and Rent a space
Where a business is currently placed, decides the quality of customers and the number of sales consummated over time. Your location influences your general goods distribution, and also the quality of customers you attract.
5. Get a reliable source
It could be a wholesale company that is the top dealer in the distribution of phone accessories around you or you can opt for various online delivery companies that have Nationwide recognition for delivering phone accessories and gadgets like Jumia, konga.com, Aliexpress.com etc.
6. Publicize / Advertise your Business
Having started out on the previously mentioned steps, now you have to go wide advertising and creating awareness about the goods you offer. By whatever means is convenient for you, either face to face, or going digital, exploring all available social media handles to cover a wider scope of persons.
How much do I need to start this Business?
CAPITAL varies, all depending on the scale of business you want to run, as seen in step 3 above. With an estimate of 200 to 500 thousand Naira, you can start up a small-medium Phone accessories business in Nigeria, and then watch it grow.
The mere fact that you are reading this signifies you are either viewing with an Android or any other computerized gadget. Having then Seen the percentage of persons using mobile devices in Nigeria, you will agree that buying and replacing these accessories we have listed above will definitely be on the high side because people must use them. For this reason, the phone accessory business will continue to grow and thrive in the Nigeria Market.