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How To Start Cell Phone Accessories Business – A Comprehensive Plan

• November 14, 2023
• 19 min read

As smartphones become increasingly popular and essential in our daily lives, the demand for high-quality and stylish accessories continues to rise. Starting a cell phone accessories business can be an exciting and profitable venture. This comprehensive guide on how to start a successful cell phone accessories business will cover key aspects such as market analysis, product selection, marketing strategies, and financial projections. By following this plan, you can lay a solid foundation for your business and capitalize on the lucrative opportunities within this ever-growing industry .

How To Start Cell Phone Accessories Business?

Mobile accessories encompass any additional hardware that is not essential to the primary functioning of a mobile smartphone as originally designed by the manufacturer. The target audience for mobile phone accessories, which play a crucial role in enhancing efficiency and protecting the device, encompasses a vast majority of cell phone owners. According to business professionals, mobile accessories yield higher profit margins compared to selling the mobile phones themselves. Let’s learn more about this business.

Types of Mobile Accessories

One of the initial considerations that arises when starting a business is determining the required investment. To calculate the investment accurately, it is important to gather information such as the cost of renting a shop in your area, the number of staff members needed, and crucially, the range of accessories you intend to stock.

Therefore, here is a comprehensive list of mobile accessories that you can include in your shop or store. By incorporating these products into your cell phone accessories business plan and putting in diligent effort, the risk of your business failing decreases significantly.

• Cases/Covers
• Earphones (wired or wireless)
• Phone Camera Lenses and Smart Flash
• Headphones (wired or wireless)
• Mobile screen tempered glass
• Selfie stick
• Mobile screen lamination
• Batteries and chargers
• HDMI cables
• Charging brick
• Bluetooth cable
• Car charging brick
• Bluetooth speaker

To pursue your dream of starting a mobile accessories business and tap into the thriving multibillion dollar industry, it’s crucial to engage in meticulous planning and thorough research. This industry is continuously evolving with a wide range of innovative products and services, offering numerous opportunities for you to establish your presence and succeed.

Here are a few steps that you need to take to begin a cell phone accessory business:

1. Analyze the Market and Understand Competition

Competition in the cell phone accessories business is both healthy and necessary for business growth. Despite the presence of well-known brands, it’s important not to get disheartened or consider changing plans. The cellphone accessories market is vast, offering ample opportunity for new players. It is crucial to understand the number of competitors in your field, their strategies, and differentiate your business from them.

To stand out, analyze what your competitors are offering and create a unique product list. By evaluating what sets your business apart, you can create a unique product list and select distinctive accessories. Consider designing your own products rather than solely relying on wholesale suppliers to further distinguish your offerings.

Focus on a specific niche, such as extra power, cases, photo tools, water protection, drop protection, on-the-road accessories, or wireless charging, and introduce a product or feature that hasn’t been seen before. Innovation and distinctiveness are key to attracting customers in this competitive market.

2. Choosing a Name for Your Mobile Accessory Website

When choosing a name for your cell phone accessories business platform, it is important to select a name that accurately represents your products, is memorable, stands out in your audience’s mind, and is unique. Additionally, it should be catchy to attract attention. It is advisable to check if the domain and social media handles are available so that you can market your business effectively across multiple platforms . Remember to comply with all local regulations, including obtaining necessary licenses and registering your business name with the appropriate authorities.

3. Find the Right Location

The first decision you need to make is whether you want to sell accessories online or open a physical store. If you choose to open a store, keep in mind that renting a space can significantly impact your budget, so careful consideration is necessary. In the case of a mobile accessory business, location is crucial as you can’t afford to be in a secluded area.

It is advisable to start by renting a kiosk in a bustling mall or marketplace with high foot traffic. This ensures accessibility and visibility while minimizing your initial investment risk. A kiosk typically costs between $2,000 and $10,000 upfront , whereas a permanent retail location can require up to $100,000 .

4. Obtaining Required Capital

Starting a business requires meticulous planning and considerable effort. One crucial aspect is securing the necessary capital to launch and sustain the business.

When planning your cell phone accessories business , it’s important to distinguish between one-time costs and recurring expenses. Recurring costs include materials, rent, utilities, and payroll, while one-time costs encompass necessary expenses like production equipment, furniture, and operating licenses.

Additionally, consider the difference between fixed costs (e.g., rent) and variable costs (e.g., production materials), which fluctuate with production and sales volumes. As your business progresses, you may encounter optional costs such as office decorations and holiday parties, but ensure essential costs are covered first.

Estimate your total cash requirements by identifying the fixed infrastructure, researching prices, and accounting for assets like computers, printers, and inventory. Overhead expenses such as legal, administrative, and marketing costs should also be considered, along with labor costs and taxes. Remember to have enough resources to cover 6 to 12 months of expenses before expecting profits.

There are several avenues available for raising funds:

a) Business Loan

Many entrepreneurs opt for business loans to finance their small-scale businesses . This involves approaching a bank and completing the loan application process. Although it may take some time, the advantage is that the interest rates are typically low. The repayment period for such loans is often around 15 years. Certain banks even offer loans without requiring collateral security.

b) Credit Loan

Another option is obtaining a credit loan, which has both pros and cons. The benefit is that the process is relatively easy and provides quick access to funds. However, the downside is that the interest rates tend to be high, and these loans are not suitable for long-term financing.

c) Personal Savings

If you have savings available, you can utilize them to kickstart your cell phone accessories business . This approach eliminates the need to repay borrowed funds and avoids interest payments, making it a favorable choice for many entrepreneurs.

5. Meet Legal Requirements

To start a cell phone accessories business , you will need to obtain a business license. The specific requirements for acquiring this license may vary depending on the location where you plan to conduct your business. It is essential to check with the relevant government agencies in that area to determine the necessary steps. If you intend to operate your business as a kiosk, you may also need to acquire a kiosk license agreement.

Regardless of the type of business structure you choose, certain common requirements exist. These include:

• Registering your shop under the Shop and Establishment Act if you plan to open a physical store.
• Obtaining a GST (Goods and Services Tax) registration (GSTIN) if your projected sales exceed 20 lakhs annually or if you intend to engage in inter-state sales.
• Applying for a trader’s license.
• Registering for a PAN (Permanent Account Number) for taxation purposes.
• Completing Aadhar registration, which involves obtaining a unique identification number.

It’s crucial to conduct thorough research and consult the appropriate government authorities to ensure compliance with all licensing requirements for your specific location and business type.

6. Choose a Supplier

Success in any business is heavily reliant on reputation, making it crucial to carefully select suppliers for your cell phone accessories business . Failure to provide quality products or timely deliveries can result in losing customers. Opting for local dealers is recommended as they offer prompt supply and competitive prices, thereby boosting profit margins. Alternatively, establishing direct contact with local manufacturers allows for cheaper rates and increased profitability.

Bulk orders, ranging from 10 to 200 items, can yield significant cost savings, especially for cellphone accessories that can be sold at higher prices. For overseas inventory purchases, popular online marketplaces are worth exploring, while several suppliers cater to customers seeking products made in the U.S.

7. Know your Products Well

To stand out from others, it is crucial for individuals creating a business plan for a cell phone accessories venture to possess comprehensive knowledge about various brands and handsets. It is not a given that everyone embarking on such a business venture will possess expertise in all product aspects, but having a thorough understanding of the products you intend to sell is essential to differentiate yourself from the competition.

8. Payment Mode

It is important to offer various payment methods to accommodate customers’ preferences and enhance their shopping experience. By being flexible with payment options, you create a sense of comfort for clients and make the purchasing process more convenient. If you limit your accepted payment modes, you may deter potential customers from making purchases at your store.

9. Invest in Fast-Moving Products

It is advisable to invest in rapidly evolving mobile phone products to minimize the risk of excessive inventory getting tied up.

Also Read: Top 50 Money Earning Apps In India

10. One-Stop-Shop

Try to be the ultimate destination for all your clients’ mobile phone needs, offering a comprehensive range of products. If there’s anything missing from our inventory, promptly communicate with our supplier to ensure quick delivery, thereby preventing customers from seeking alternatives elsewhere.

11. Manage the Inventory and Shipping Requirements

To ensure a positive customer experience for your cell phone accessories business , effective inventory management and streamlined shipping processes are essential. Many entrepreneurs initially start with a small inventory to test the success of their online store, avoiding being burdened with unsold items. It’s important to monitor product movement, identify fast-selling items, track out-of-stock products, and assess low-demand items.

Another decision to make is whether to handle order fulfillment internally or outsource it to a fulfillment center. Fulfillment centers can store and ship your products, saving you time and storage space. If budget constraints or a desire for individual order control exist, you may choose to handle fulfillment yourself.

Managing costs associated with storing, packing, and shipping each item sold is crucial. Establishing a clear returns policy is also necessary before commencing sales.

12. After-Sales Support

Instead of solely focusing on making sales, it is important to prioritize providing after-sales support to the customers of your cell phone accessories business . By offering assistance and guidance even for minor requests such as app installations or phone updates, you can cultivate a sense of satisfaction and loyalty among customers.

Customers appreciate purchasing from knowledgeable experts who can provide detailed information about product features, benefits, and drawbacks. This expertise becomes especially valuable when customers are comparing multiple products and rely on the seller to explain the intricacies of each option.

Also Read: 53 Profitable Small Scale Manufacturing Business Ideas in India

13. Create your Own Website

To establish an online presence for your cell phone accessories business , there are several effective methods available. One option is to create your own website, utilize marketplaces, and leverage social media platforms. It’s crucial to ensure your mobile accessories shop design is appealing and captivating to customers. Examining some of the online mobile accessories shopping sites in India can provide insights into their operations, product range, and strategies.

a) Marketplaces

You can choose to sell your products on well-known marketplaces such as Amazon , eBay, and Flipkart . These platforms offer the advantage of reaching an existing customer base. The trustworthiness associated with these popular websites encourages people to make purchases from your online shop. Keep in mind that there may be membership fees and seller’s fees associated with each platform, so it’s important to consider these costs when determining your pricing.

b) Social Media

Selling products through social media platforms is becoming increasingly common. In addition to promoting and showcasing your products on various social media sites, many platforms now offer direct purchasing options. This allows users to buy products seamlessly while browsing through their social feeds.

c) Online Store

Creating your own online store is a highly effective way to sell products online and establish your cell phone accessories business . With an online store, you have complete control over how your items are presented to users, and you don’t have to pay any commissions to third parties. Setting up an online store is not overly complex, thanks to many user-friendly eCommerce website builders. These platforms enable you to create a fully customized online store regardless of your technical expertise.

By exploring these avenues and adapting them to your specific business needs, you can successfully sell your mobile accessories online, expand your customer base, and drive growth for your business.

14. Demonstrate your Credibility

To ensure accountability and increase the likelihood of achieving profits within the first six months, it is crucial to provide factual evidence and support for any claims made. By backing up statements with reliable data and taking necessary actions, you can establish a solid foundation for your projections. If you have doubts about your sales estimates, it is advisable to be conservative and provide a more credible figure.

How to Increase Sales of Accessories?

Once your cell phone accessories business is established, your primary focus becomes increasing sales to drive up profits and enable business expansion. There are various strategies at your disposal to enhance sales performance:

1. Advertise your Business

To effectively promote your business, you have two options: leveraging existing marketplaces and their customer bases or creating your own website. Whichever route you choose, it is crucial to employ online advertising strategies and allocate your marketing budget wisely. Take advantage of platforms like Google Ads and Facebook Advertising to target potential customers actively seeking cellphone accessories. Additionally, consider collaborating with influential personalities on YouTube and Instagram to further enhance the visibility and reach of your products.

2. Email Newsletter Campaign

Utilize email newsletters as a means to foster relationships with your audience, especially those visitors who have not yet completed their purchases. By maintaining an email subscriber list, you can create targeted content and provide product recommendations directly to your audience. However, it is crucial to avoid spamming your subscribers, as this may lead them to unsubscribe.

3. Blog Creation

Consider incorporating blogs into your website strategy to attract organic traffic, which can potentially convert into customers. Create content related to your products, such as articles on protecting your mobile phone or top lamination accessories for mobile screens . Optimize your blog content with relevant keywords to improve search result rankings and increase website traffic.

4. Diversify Payment Options

To enhance customer comfort and facilitate easier shopping experiences, offer a variety of payment methods. Some customers may be deterred from purchasing from your online store if you have limited payment options. Ensure that your payment page has a user-friendly interface to enhance the overall shopping experience.

5. Website Management

The work doesn’t end after setting up your online store and establishing a strong audience. To provide the best customer experience for your cell phone accessories business , it is essential to regularly update your website. Keep your product inventory up to date by replacing sold-out items with new arrivals. Utilize high-quality images and detailed product descriptions to convert more visitors into customers. Gathering feedback and customer reviews is also crucial, as positive reviews from real customers increase the likelihood of purchases. By implementing these strategies, you can encourage visitors to buy mobile accessories from your online store.

6. Ask for Feedback

Recognizing that mistakes are inevitable, it is highly valuable to embrace the opportunity for learning from them. One effective approach is to establish a feedback system or maintain a diary where customers can share their positive and negative experiences at your store. This valuable input plays a pivotal role in enhancing the quality of service provided.

Moreover, placing a strong emphasis on fulfilling orders promptly and delivering excellent customer service is crucial in preventing negative reviews or customer dissatisfaction. Prioritizing these aspects ensures that customers have positive experiences, fostering satisfaction and loyalty.

Few Things that are a Must in your Business Plan

To ensure the success of your cell phone accessories business plan, here are a few essential elements to include:

1. Table of Contents

Create a comprehensive table of contents that outlines the structure of your business plan. This helps you stay organized and shows your seriousness and attention to detail.

2. Company Overview

Provide an overview of your cell phone accessories business to give potential investors and lenders a clear understanding of your goals. Include the following key points:

• Vision: Explain your company’s vision and how you envision its growth and expansion in the future.
• History: Share any relevant background information about your store or previous experience.
• Markets and Products: Describe your target market and the main products you plan to sell.
• Objectives: Outline your business objectives and how you plan to achieve them.
• Mission: Clearly state your company’s mission and values.
• Cost Summary: Provide a summary of the costs involved in starting and running your business.
• Keys to Success: Identify the critical factors that will contribute to the success of your business.

3. Market and Industry Analysis

Conduct thorough research on the market and industry to demonstrate your knowledge and understanding. Include the following components:

• Industry Analysis: Analyze the current state and trends of the cell phone accessories industry.
• Market Analysis: Assess the target market’s size, growth potential, and demographics.
• Target Customer: Define your ideal customer profile and their needs.
• Competitor Analysis: Identify your direct and indirect competitors and analyze their strengths and weaknesses.
• SWOT Analysis: Evaluate the strengths, weaknesses, opportunities, and threats your business may face.

4. Marketing Strategy

Outline your marketing strategies to attract customers and drive sales. Include the following elements:

• Pricing Strategy: Determine your pricing approach and explain the rationale behind it.
• Target Market Strategy: Describe how you will reach and engage your target customers.
• Sales Strategy: Outline your approach to generating sales and increasing customer conversion.
• Distribution Strategy: Define your distribution channels and how you will get your products to customers.
• Product/Service Strategy: Highlight the unique selling points of your cell phone accessories business and any additional services you plan to offer.
• Advertising and Promotion Strategy: Detail your marketing campaigns, including online and offline advertising, social media, and public relations.
• Marketing and Sales Forecast: Project your expected sales and marketing expenses for a defined period.

5. Operations and Management

Explain how you will manage the day-to-day operations of your business and address the associated costs. Additionally, outline your leadership plan, including the roles and responsibilities of key team members.

By including these crucial elements in your cell phone accessories business plan, you will enhance its comprehensiveness and increase your chances of success.

6. Offline Marketing

Offline marketing is still valuable and can help establish long-term customer relationships. Enhance your brand’s consistency by using creative branded stationery, business cards, and envelopes with the same logo and color scheme. Utilize press releases to announce your startup and promote your high-quality phone cases.

Increase brand awareness by distributing promotional items like pens or mugs featuring your company logo. Leverage local media through newspaper ads, TV and radio commercials, and billboards. If you have a physical store, engage in subtle face-to-face marketing to leave lasting impressions. Implement guerrilla marketing tactics such as leaving sticky notes or sidewalk advertisements to generate curiosity and draw attention to your brand.

7. Customer Service

Customer service is a crucial marketing tool that can set your phone case brand apart from competitors. Satisfied customers become brand ambassadors, while dissatisfied ones may spread negative experiences online. To protect your reputation, prioritize customer satisfaction by actively listening to and collaborating with disgruntled clients. Admit mistakes and avoid deception.

Treat customers with respect, honor commitments, and offer multiple communication channels with prompt responses. Your goal should be to exceed customer expectations, not just meet them. Combine free and low-cost marketing activities with excellent customer service to effectively communicate your brand values both online and offline.

In conclusion, starting a cell phone accessories business requires careful planning and market research to identify target customers. You can offer a wide range of high-quality and innovative products, create effective marketing strategies, and provide excellent customer service to successfully establish and grow your cell phone accessories business.

Sushma Singh

Sushma is an expert in online money-making strategies with extensive experience in business. She has spent a lot of time researching and writing about the ever-changing world of money-making games and websites, making her an expert at finding ways to make money online.

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How to start a mobile accessories wholesale business in India?

If you're looking to start a business, selling cell phone accessories isn't such a bad way to go. The business is lucrative and can provide many benefits for you down the line - especially with profitability and scaling.

Below, we'll provide a quick picture of the Indian smartphone market and share tips on how you can begin selling mobile phone accessories:

Table of Contents

The mobile accessories industry in India

7 steps to start your mobile accessories business in india, frequently asked questions (faqs), sell on alibaba.com.

Today, most people who look to start businesses tend to look for lucrative areas that deliver high returns in the shortest time. To make that work, you will need a large customer base and products that are always in demand.

This is why the mobile accessories business in India is booming. Wireless telecom subscribers in India crossed 1 billion people in 2020. 1 Smartphone penetration rates in the country also hit 42 percent in 2020, with estimates claiming that the levels could very well climb up to 511 percent by 2025. Along with countries like Nigeria, India is rising in terms of mobile penetration. 2

For mobile phones, companies like Xiaomi, Realme, Samsung, Vivo, and Oppo are top-rated in India, thanks to their entry-level and mid-priced mobile phones. In the mobile accessory market, international brands like Samsung, Philips, Realme and Xiaomi are popular. Local brands are also emerging; the most popular are ICCON, Zebronics, Portronics, Mivi, Syska and Boat.

With so many people using mobile devices, there is a large market for cell phone accessories in India. The mobile accessories market has been growing at an annual rate of 10.5%; analysts expect it to reach a market size of USD 3.54 billion by the end of 2024. 3

This is why starting a cell phone accessories business isn't such a bad idea. You can sell products to a broad customer base that has increasingly more disposable income to spend. Mobile accessories are fast becoming a fashion statement for the style-conscious young Indian consumer.

Now that you've decided to sell mobile phone accessories, here are some of the most critical steps you need to consider:

1. Analyze the market

As it is with anything you're looking to sell, you've got to consider the market and the people who will be using it in the first place. Market analysis will save you a great deal as you work towards your mobile accessories business, and there's a lot to cover in this regard.

First off, you should know that there will be several competitors in the cellphone accessories business. There's always room for another player in the mobile phone accessories business, and you simply need to be careful.

Check to see what your competitors are selling and try to find something to set yourself apart. Keep on top of the latest trends and preferences by researching what people are discussing on social media. Identify the key social influencers for the mobile phone accessories business. They will give you quick insight into the latest trends and styles.

You could also distinguish yourself based on services. Consider providing after-sales services to your customers, such as installation and maintenance of these mobile accessories. Whatever you need to set yourself apart from the others, go for it.

2. Location, location, location

Now that you understand what you'll sell or provide as an after-sales service, you need to move on to where you would like to set up.

The exciting thing about the location is that it doesn't necessarily need to be physical. If you open a physical store, you know you have to consider where the market will fit you the most and how you want to access your customers. However, if you would like your own store to be online, you also need to consider the same thing. Most of the time, online accessory businesses tend to serve a segment of the Indian market, but this segment tends to be at the upper end of the market. You could find platforms like Flipkart that are famous in India and list your products there.

Whatever you choose, the critical factor has to be your proximity to the market. The right location will get you more proximity to your target market. You want to get people who need these mobile accessories, so you can start selling and increase your profit margin soon enough.

Most experts will recommend opening an online store so that you can get access to a broader customer base. Many people own mobile phones in India, and data shows that the country's e-commerce market has grown significantly over the past year. Selling online is almost necessary for any business looking to scale quickly, so you might want to consider it. 4

If you decide to go physical, you might want to consider opening a shop or kiosk at a mall. Shopping malls and other public places attract thousands of people daily, and there's a significant chance that one of them would like to purchase mobile accessories. So, perhaps setting up here will be the best bet for you.

3. Source for capital and investments

Finding and nurturing capital is one of the most critical parts of starting a mobile phone accessories business. After all, you can't do anything without money. At this stage, you probably have a fair idea of how much you will need to start your business and get it off the ground. So, it's time to consider how you'll get the funds in the first place:

a. Your personal savings

The first point of contact will have to be your personal savings. If you've got some money in hand, you could get it together and use it to start the business.

One of the best parts about having your own money is that it saves you from stress and obligations. You don't have to spend so much time thinking about how you'll turn a profit or what could happen if the business doesn't do as well as you expect. You also don't need to pay any interest or give up ownership of your business.

b. Input from friends and family

If you've got any friends or family members who believe in your vision and would like to partner with you, then you're in luck. Their input should go a long way in keeping your business afloat, and you can quickly negotiate better terms with them.

Some people might want an ownership stake in your business or simply invest in the hope of getting a return. The familiarity and speed of getting things done make this option much easier than approaching a bank or a corporate lending business.

c. Business loans

The truth is that unless you've got a boatload of money, you won't be able to finance your cell phone accessories business on your own. Even if you decide to sell on an online platform and you don't want to open a physical store, services like Amazon, eBay, and more will require that you pay for hosting your business on their platforms.

All in all, there is a significant chance that you will need some help with capital. This is where a business loan could come in. You could approach a bank and submit paperwork to apply for a simple small business loan. While the process might take a while, you will at least get some reasonable rates. Also, tenures for paying these loans back are usually generous. So, you get benefits all around.

d. Credit loans

Credit loans are also quite impressive. They provide much quicker loan guarantees, so you can access the money you need and start selling your mobile accessories much quicker. However, interest rates on credit loans are usually higher, and their tenures are generally shorter.

4. Understand the legal requirements

If you're looking to start a cell phone accessories business, you will need a license. You need to check with government agencies and the Federal Ministry of Communications and Digital Economy to know the licenses you will need to start your business.

You should also know that you might need different licenses based on your business structure. The permits for a solo business and a partnership aren't the same. However, some things need to be present nonetheless. These include:

● You will have to register your business under the Shop and Establishment Act. Note that this is only if you want to open a physical shop.

● You need to get a GSTIN if you plan to make sales of over ten lakhs annually or if you wish to make inter-state sales.

● A trader's license will also be required

● You'll need to register with the Income Tax Department to get a permanent account number (PAN)

When you have these, you can move on to considering what you need for your business. If you are new to the industry, consider getting a business consultant to help you out.

5. Get a supplier

The next step will be to find an accessories supplier. This is very important - your choice of a supplier will determine how effective your accessory business is.

The first thing you need to consider when getting a supplier is their reputation. Choose a supplier known for having high-quality products at all times. This way, you know that they can be trustworthy. Remember that whatever you get from the supplier is what you will be able to sell. So, if they don't have high-quality products and your customers only get the low-quality stuff from you, there is a significant chance that your customer base will erode quickly.

Items like mobile covers and USB cables are significantly affected by this. When people buy cables from sellers and see that they are of low quality, they won't want to patronize them anymore.

You also want to consider getting a local supplier. These people can provide what you need more quickly and at low prices. So, you can increase your profit margin even more.

6. Remember to invest in quick-moving products

You need to keep in mind that the mobile market never stays the same; it is constantly evolving. The mobile phone industry continues to update regularly with new products and techniques. For instance, everyone is going wireless now, as opposed to running with cable technology. There was a time when this was thought to be almost impossible.

The point is this; consider the products that are making waves now and doing the best numbers. Invest in those and get them because they're the ones in high demand. You don't want to get stuck with a blocked inventory.

With the impact of COVID in India, consider how this is changing consumer demand for mobile accessories. Power banks were the most in-demand accessory but, today, with more people working remotely, there is less demand for power banks.

Instead, look into something else – consider mobile accessories as fashion items, people like bright colors. There is increasing demand for Bluetooth speakers and earphones, and wireless chargers.

Mobile video consumption is exploding in India. 5 Thanks to Jio, the cost of data in India is lower than anywhere else globally; low-cost data has fueled the explosion in mobile video consumption. Consider mobile accessories that enhance the user experience of this growing trend. Items like mobile screen enlargers or mobile stands are very much in demand today.

7. Set up marketing channels

Marketing is another critical aspect that you will need to focus on. No business survives without effective marketing, and you need a system to help get your name out there. If you run an online store, then there's an even greater marketing need for you.

You will need to get on social media to market yourself. India has 624 million internet users and 448 million social media users. 6 The number of social media users increased by 21% between 2020 and 2021. Facebook, Twitter, Instagram, and other platforms have made it convenient for businesses to market themselves and get exposure. Using the power of the internet, you could connect with someone on the other side of India who needs mobile accessories. Get your products to them, and you've made a sale!

Beyond social media marketing, you can also take advantage of platforms like Google AdWords and YouTube. YouTube is the most popular social media platform in India, with 425 million monthly active users. Video is a great way to stand out from the crowd and build a brand in India. 6

Do I need to open a physical store to sell mobile phone accessories?

No, you don't. Thanks to the power of the internet and e-commerce, it is now easier to open an online store and start selling your products from the comfort of your home. Indiamart, eBay, Flipkart, Amazon, Shopify, and many more are platforms where you can sell online.

What are the most in-demand phone accessories I can sell?

Currently, mobile phone users prefer to get earphones and chargers. However, items like pop sockets, selfie sticks, phone cases, and covers are growing in popularity. But trends and fashions change rapidly in this market; you should always try to keep on top of new trends.

What is the size of the loan I need to get to sell cell phone accessories?

There's no one-size-fits-all answer to this question. Usually, the loan size will depend on how much you're looking to make and the scale of your business. Most experts will recommend that you start on a small scale and move upwards from there.

Can I sell my mobile phone accessories outside India?

If you set up your business online, yes, you can. One of the benefits of running an online cell phone accessories business is that you can access foreign clients and get the network you need to sell to them. Everything is much easier with an online platform.

Is it possible to automate my business?

Automation is another benefit that you get when you sell online. With platforms like Shopify and Amazon, it is easy to automate your sales and get more freedom to see other parts of your business. You can set up your own website, allow the service to help you handle the sales, and achieve greater flexibility.

From the above, it seems pretty evident that selling online is the key to unlocking your potential if you have a mobile accessories business. An online store provides you with several impressive benefits, as well as the opportunity to grow and become much more flexible.

To wit, your business will benefit a great deal from having a spot on Alibaba.com . Over the years, Alibaba.com has grown to become the largest online platform for b2b businesses. With this platform, you can reach customers worldwide and get exporters to help you expand your business.

Alibaba.com will also help you with logistics and other critical parts of the supply chain, ensuring that you can run your business smoothly and get to sell to a broader customer base.

References: 1. https://www.statista.com/statistics/640035/wireless-telecom-subscribers-by-region-india/ 2. https://www.statista.com/statistics/1229799/india-smartphone-penetration-rate/ 3. https://www.researchnester.com/reports/india-mobile-phone-accessories-market-analysis-opportunity-outlook-2024/85 4. https://www.businessinsider.in/advertising/brands/news/86-indians-have-adopted-online-shopping-during-the-pandemic-indicating-accelerated-adoption-of-ecommerce-across-age-groups-shopify/articleshow/79621603.cms 5. https://timesofindia.indiatimes.com/gadgets-news/smartphone-users-in-india-on-an-average-spend-70-minutes-per-day-watching-videos-report/articleshow/74339253.cms" 6. https://datareportal.com/reports/digital-2021-india 7. https://techcrunch.com/2021/01/11/youtube-and-whatsapp-inch-closer-to-half-a-billion-users-in-india/

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How To Start Your Own Mobile Shop in India

• August 13, 2019 January 11, 2023

Mobile has become a very basic need for people all over the world. Everyone uses a smartphone, even small kids are obsessed with it. Mobile has become an entertainment medium more than its basic use which is to connect with others.

Interest in mobile phones and the number of mobile phone brands entering the Indian market has steadily risen over the last decade. With new players like JIO entering the market and releasing cheap data plans.

Undoubtedly, the  Mobile Shop business is one of the best small business ideas to start in India . 

Although a good performing Mobile Shop makes an average net profit of 20% on its daily sales, 80% of those who get into this business close their Mobile shop in less than 2 years due to losses and cash-flow problems. Additionally, Mobile shops have cut-throat competition for the reason that there are minimal barriers to entry.  But at the same time, when looked at the given past, and recent past trends, the future for this Mobile shop business looks very rewarding and profitable if done right. 

Here are a few steps that guarantee success and help you figure out how to open a mobile shop in India? 

1. Get your Mobile Shop licensed

Even small mobile stores staffed by one to two persons typically do over Rs.10 lakhs of sales in a year. Hence, it’s best to start the Mobile store as a Limited Liability Partnership (LLP) . In case there are plans to establish larger mobile stores in places like malls or to sell online through e-commerce portals like Flipkart , Snapdeal or Amazon, its best to incorporate a company. Get your GST registration done. You can easily do this on GST portal. 

If you wish to import mobile accessories from other countries like China, owing to cost advantages, it is advisable to get you IE code also – https://dgft.gov.in/

2. Know what other Mobile 

✔  make a list of  mobile accessories  that are commonly sold in your surroundings. mobile phones are not your only option. consider offering related products and accessories, such as headsets, cables, chargers and memory cards. these will bring in additional income and provide customers with everything they need in one place. , ✔  markdown those mobile  accessories  you can manage to buy & sell if you set up such a mobile shop business. , ✔ and be careful about your customer segment, get an idea from your what you observe, find out which price range is selling more in your store. this is a very useful mobile shop business idea, because, sales vary greatly on the economic condition of your area or customer., 3. know your products well, ✔ all the people are not technical expertise, but as a mobile handset seller, you have to have good knowledge about all the brand and handset. people love to buy from an expert who can elaborate on all the feature pros cons when the customer is comparing with two or three sets., 4. understand the market before committing your money on the cell phone business, ✔  mobile phone business may be one of the best business to start in india. but, do learn about competitors that are already on the market., ✔  the first step in dealing with competition is to avoid it in the first place., ✔  secondly, decide on your mobile shop budget. how much money are you willing to spend to enter the market, ✔ remember, never test the depth of the river with both the feet. know your investment limit on mobile shop item list and never cross it., 5. learn about the day-to-day activities of a mobile.

In reality, Mobile Phone Shop Ownership requires a hands-on approach.   Get to know

✔  How does your typical customer look like?

✔  what is your survival & growth potential in the market, ✔  what are the approximate upfront and initial operation costs to bare, ✔  any legal considerations, and more, 6. identify places with ready (and growing) market potential, ✔  firstly, locate the area with lesser competition for your mobile phone shop & reasonable demand for mobile phone & mobile accessories., ✔  secondly, you need to aware of the latest trends and ruling prices of the industry., 7. find your space to set up your mobile store.

A space of about 10 x 15 square feet or about 150 square feet is required for setting up a mobile store. The store must be suitably equipped with display cases, lighting, cameras, and air-conditioning (if needed).

It is necessary for a long counter of 8 x 3.5 feet on the left side with glasses that are in front and top portion and on the back wall of the counter that makes two to three good view cupboards with glass and all should be completely decorated as well as with lightings.

8. Get Flexible by Accepting Payments through different Modes

Some customers deal with credits and some pay instantly by cash. It’s important to offer customers a variety of ways to pay you as some customers are comfortable with credit terms in order to do business with you.

If you’re strick on your payment terms, you might piss them off.

9. Advertise locally well

Mobile stores mostly expect local clients. Therefore, advertising for Mobile Phone Business can be done one of several ways, including billboards, Yellow Page ads, flyers, and email marketing to an existing customer list.

So, want to be a popular and a go-to Mobile Phone Retailer?  Spread out a word about your business.

10. Invest in Fast-Moving Products

Because the Mobile Phone business is quite capital heavy– you may have to invest mostly in fast-moving products to be on the safer side.

Invest in varieties of headphones, Screenguards, Earphones, Mobile phone sets, power banks, Mobile covers, Bluetooth and much more.

11. Choose your Selling Price Wisely

✔  offer discounts on basic mobile accessories products such as earphones, mobile covers, screen guards and recover the profit margin in mobile phone business through minor products., ✔ always remember never to make the mistake of overcharging customers on commonly used items/commodities like mobile covers and screen guards. if you do this they will definitely not deal with you and will alert all their connections as well. , 12. encourage convenient shopping.

Allow customers to pay you using PayTM, GPay, Cash, Credit Card, etc.  When they go low in cash, allow them to pay later. When customers are satisfied with you, they definitely come back, it may even happen that, they start recommending your mobile phone business for their connection as well. Keep in mind, this is very likely to happen.

13. Provide a one-stop-shop for your Clients

✔  have all the items your customers need. make sure your customers don’t have to go to any of your competitors’ shops to buy anything., ✔  talk to your suppliers so they can take advantage of any items that may be on-demand but are missing from your mobile shop as quickly as possible., 14. manage the inventory of your mobile store, ideally, you should have a look at your stock level every week – this will help you understand which items are “moving” fast off the shelves and which ones need urgent restocking..

You may need to use the Inventory management App  like “Vyapar” to track your inventory well. It automatically alerts you when a fast-moving stock goes low in number. Never let customers go back disappointed due to “Out of Stock” issues.

Provide after-sales support too

After selling a product if any problem arises it’s not your responsibility to guide your customer. Try to fix the problem.

Even you can get tiny requests like installing apps, set it. This will give you a chance to make a good customer relationship.

“Quality” is the best Business plan after all.

Frequently Asked Questions’ (FAQs’)

# Is mobile repair a good business?

Yes, if managed properly, a mobile phone repair business can be quite profitable for any trader and can earn you a lot of money. However, it is also important to provide good quality spare parts and service to turn it into a reputed enterprise. Also you can ask for customer feedback to improve it further.

# Which is the best smartphone company of 2021 in India?

Here is the list of top 10 smartphone companies of 2021.

• Xiaomi Mobile
• Lenovo (including Motorola)

# How much does it cost to start your own mobile store?

It always depends on the business owner how committed they are to their business, the amount required to start and operate a mobile shop varies, but usually the shop vehicle is the biggest expense. After some research it was found that the total investment of a mobile shop is around Rs. 3, 00,000 to Rs. 4.00,000.

# Is selling Cell Phone/ Mobile Phone accessories profitable?

Starting a cell phone accessory business is a great idea. It can be highly profitable and highly competitive. However, if you can find a location with limited competition or build an online presence ahead of your competitors, you can build a profitable small business selling cell phone accessories.

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Happy Vyaparing!!!

Cell Phone Accessories Store Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business Plans » Wholesale & Retail

Do you want to start a cell phone store and need to write a plan? If YES, here is a sample cell phone accessories business plan template & feasibility report.

In as much as people still make use of cell phones, the demand for cell phone accessories will continue to rise. Cell phone accessories store business is indeed a profitable business because the replacement of damaged or worn-out cell phone parts and accessories is compulsory to extend the lifespan of cell phones.

If you are looking for a business to start as an entrepreneur and you know you have an interest in the technology cum cell phone industry, then you should consider starting your own cell phone accessories business. Although you don’t need a college degree to establish this business, but you need some form of informal training, you might have to work as an apprentice with someone who owns a cell phone accessories store.

It is important to point out that cell phone accessories store business can’t go out of fashion because of the role it plays in the cell phone industry. Depending on the scale you want to start, the startup capital for this type of business can be considered to range from small to moderate.

As a matter of fact, you can start your own cell phone accessories store from a mobile store and then grow it big within a short period of time by re-investing your profits back to the business.

If you are sure this type of business is what you want to do after you must have conducted your feasibility studies and market research, then the next step to follow is to write a good business plan; a detailed blue print of how you intend raising your seed capital, setting up the business, managing the flow of the business, sorting out tax and marketing your services.

Below is a sample cell phone accessories store business plan template that will help you write yours without much stress.

A Sample Cell Phone Accessories Store Business Plan Template

1. industry overview.

Cell phone accessories include any hardware that is not integral to the operation of a mobile smartphone as designed by the manufacturer. Cell phone accessories stores is a subset of the Smartphones industry and operators in this industry retail smartphones and accessories through traditional brick-and-mortar outlets, online websites and by mail order.

IBISWorld projected that over the five years to 2022, the Retail Market for Smartphones industry is anticipated to benefit from the growing demand for smartphones and increasing percentage of services conducted online. As per capita disposable income increased, consumers have increasingly purchased discretionary items. Smartphones are considered particularly discretionary because they are at the higher-end of the cellphone market.

Furthermore, the industry has benefited from a rise in the popularity of products spanning a wide range of price points. This industry benefits from constantly improving technology, which benefits operators in two different ways. As technology improves, the efficiency of manufacturing certain smartphones rises and the cost typically falls.

Going forward, the Retail Market for the Smartphones industry is anticipated to continue to benefit from growing disposable income and increasing demand for smartphones, specifically those at the higher end of the market. Per capita disposable income is anticipated to increase at an annualized rate going forward.

During this time, consumers are anticipated to upgrade and purchase new smartphones as they are less wary about spending money on discretionary purchases. Industry growth is anticipated to slow down as the smartphone market becomes saturated, however as it becomes a consumer stable, industry operators will likely improvise to stay afloat.

Statistics has it that in the united states of America alone, there are about 40,558 registered and licensed smartphones retail stores scattered all across the United States responsible for directly employing about 467,650 people and the industry rakes in a whooping sum of $86 billion annually.

The industry is projected to grow at 10.1 percent annual growth within 2015 and 2022. It is important to state that Apple Inc., Verizon Wireless, AT&T Inc. and Best Buy Co. Inc. have the largest chunk of the available market share in the industry.

A close observation of the Retail Market for the Smartphones industry shows that the industry has low barriers to entry. In the United States, the industry is subject to few restrictive regulations, and industry employees typically do not need to be trained formally to be able to carry out their duties.

The tough part as it relates to start-up costs is the supply of cell phone accessories from wholesalers or directly from manufacturing companies, because cell phone accessories store business cannot be started without sourcing products for sale.

Regardless of low barriers to entry, the competitive nature of the industry makes it very difficult for new operators to break even within a short period of time in the industry.

2. Executive Summary

John Lyon® Cell Phone Accessories Stores, Inc. is a registered cell phone accessories store that will be located in one of the busiest streets in Harrington – Delaware. We have been able to lease a standard store facility in a technology hub in the city and the store is located in a corner piece property along a major road close to one of the largest residential estates in Harrington – Delaware.

John Lyon® Cell Phone Accessories Stores, Inc. will retail Cases, which are designed to attach to, support, or otherwise hold a smartphone, mass storage component (SD card, SD card slot and special USB micro-B flash drive), chargers and external batteries, selfie sticks, smartphone tripod mount and micro-USB to HDMI cables that are used in smartphones with MHL et al from different manufacturers (brands) from the United States and abroad.

We are aware that there are several cell phone accessories store outlets all around Harrington – Delaware, which is why we spent time and resources to conduct a thorough feasibility studies and market survey so as to be well positioned to favorably compete with all our competitors.

We have an online – service option for our customers, and our outlet is has various payment options. We will ensure that we get our customers involved in the selection products (brands) that will be in our store and also when making some business decisions that directly affect them.

John Lyon® Cell Phone Accessories Stores, Inc. will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.

We will ensure that we hold ourselves accountable to the highest standards by meeting our customers’ needs precisely and completely whenever they patronize our products.

John Lyon® Cell Phone Accessories Stores, Inc. is owned by John Lyon. John Lyon has a Diploma in Computer Technology, with over 5 years’ experience in the retailing industry, working for some of the leading brands in the United States.

Although the business is launching out with just one outlet in Harrington – Delaware, but they have a long term plan to open other outlets around major cities in the United States and Canada via franchising.

3. Our Products and Services

John Lyon® Cell Phone Accessories Stores, Inc. is in the retail market for the Smartphones to service a wide range of clients and of course to make profits, which is why we will make available a wide range of cell phone accessories from top manufacturing brands in the United States and other countries of the world.

Our product offerings are listed below;

• Phone Cases (Pouches and sleeves, Holsters, Shells, Skins, Fitted cases, Bumpers, Flip cases and wallets, Screen protection and body films, Drop and shock protection and Leather case)
• Mass storage component (SD card, SD card slot and special USB micro-B flash drive)
• Chargers and external batteries,
• Selfie sticks, smartphone tripod mount
• Micro-USB to HDMI cables used in smartphones with MHL

4. Our Mission and Vision Statement

• Our vision is to become one of the leading brands in the smartphones retail market in Delaware and to establish a one stop cell phone accessories store in Harrington – Delaware and in other key cities in the United States of America.
• Our mission is to establish a world – class cell phone accessories store that will make available a wide range of cell phone accessories from top manufacturing brands at affordable prices to  residents of Harrington – Delaware.

Our Business Structure

Our intention of starting a cell phone accessories store business is to build a standard store outlet in Harrington – Delaware.

Although our cell phone accessories store might initially not be as big as some of the biggest in the industry, but we will ensure that we put the right structures in place that will support the kind of growth that we have in mind while setting up the business.

We will ensure that we hire people that are qualified, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stakeholders.

As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of ten years or more. In view of that, we have decided to hire qualified and competent hands to occupy the following positions;

• Chief Executive Officer (Owner)
• Store Manager
• Human Resources and Admin Manager

Merchandize Manager

Sales and Marketing Manager

Information Technologist

• Accountants/Cashiers
• Sales Agents/Customer Services Executive

5. Job Roles and Responsibilities

Chief Executive Officer – CEO:

• Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results
• Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for fixing prices and signing business deals
• Responsible for providing direction for the business
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization
• Reports to the board

Admin and HR Manager

• Responsible for overseeing the smooth running of HR and administrative tasks for the organization
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
• Defining job positions for recruitment and managing interviewing process
• Carrying out induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Oversee the smooth running of the daily office cum business activities.

Store Manager:

• Responsible for managing the daily activities in the store
• Ensures that proper records of cell phone accessories are kept and the warehouse does not run out of products
• Ensure that the store facility is in tip top shape and goods are properly arranged and easy to locate
• Control cell phone accessories distribution and supply chain inventory
• Manage vendor relations, market visits, and the ongoing education and development of the organizations’ buying teams
• Help to ensure consistent quality of Cases, mass storage component (SD card, SD card slot and special USB micro-B flash drive), chargers and external batteries, selfie sticks, smartphone tripod mount and micro-USB to HDMI cables are purchased and retailed in good price that will ensure we make good profit
• Responsible for planning sales, monitoring inventory, selecting the merchandise, and writing and pricing orders to vendors
• Manage external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
• Model demographic information and analyze the volumes of transactional data generated by customer purchases
• Identify, prioritize, and reach out to new partners, and business opportunities et al
• Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
• Document all customer contact and information
• Represent the company in strategic meetings
• Help increase sales and growth for the company
• Manage the organization website
• Handles ecommerce aspect of the business
• Responsible for installing and maintenance of computer software and hardware for the organization
• Manage logistics and supply chain software, Web servers, e-commerce software and POS (point of sale) systems
• Manage the organization’s CCTV
• Handles any other technological and IT related duties.

Accountant/Cashier:

• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Provides managements with financial analyses, development budgets, and accounting reports
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensuring compliance with taxation legislation
• Handles all financial transactions for the organization
• Serves as internal auditor for the organization

Client Service Executive

• Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
• Through interaction with customers on the phone, uses every opportunity to build client’s interest in the company’s products and services
• Manages administrative duties assigned by the human resources and admin manager in an effective and timely manner
• Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to customers when they make enquiries
• Find out the customer’s needs, recommend, select and help locate the right merchandise, describe a product’s features and benefits.
• Make suggestions and encourage purchase of products
• Provide information about warranties, manufacturing specifications, care and maintenance of merchandise and delivery options
• Bag or package purchases and gift wrap merchandise
• Responsible for cleaning all the cell phone accessories and the store facility at all times
• Ensure that toiletries and supplies don’t run out of stock
• Handle any other duty as assigned by the store manager.

6. SWOT Analysis

Our intention of starting just one outlet of our cell phone accessories store in Harrington – Delaware is to test run the business for a period of 2 to 5 years to know if we will invest more money, expand the business and then open other outlets in Delaware and key cities in the United States.

We are quite aware that there are several cell phone accessories stores all over Harrington and even in the same location where we intend locating ours, which is why we are following the due process of establishing a business.

We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be equipped to confront our threats.

John Lyon® Cell Phone Accessories Stores, Inc. employed the services of an expert HR and Business Analyst with bias in retailing to help us conduct a thorough SWOT analysis and to help us create a Business model that will help us achieve our business goals and objectives. This is the summary of the SWOT analysis that was conducted for John Lyon® Cell Phone Accessories Stores, Inc.;

Our location, the business model we will be operating on, varieties of payment options, wide range of cell phone accessories from different manufacturing brands and our excellent customer service culture will definitely count as a strong strength for John Lyon® Cell Phone Accessories Stores, Inc. So also, our team of highly qualify staff members is also a plus for us.

A major weakness that may count against us is the fact that we are a new cell phone accessories store outlet in Harrington – Delaware and we don’t have the financial capacity to compete with multi – million dollar outlets when it comes to retailing at a rock bottom prices.

• Opportunities:

The fact that we are going to be operating our cell phone accessories store in a corner piece property along a major road close to one of the largest residential estates in Harrington – Delaware provides us with unlimited opportunities to sell our accessories to a large number of people.

We have been able to conduct thorough feasibility studies and market survey and we know what our clients will be looking for when they visit our outlet; we are well positioned to take on the opportunities that will come our way.

Just like any other business, one of the major threats that we are likely going to face is economic downturn. It is a fact that economic downturn affects purchasing/spending power. Another threat that may likely confront us is the arrival of a new cell phone accessories outlet in same location where ours is located. So also, unfavorable government policies may also pose a threat to businesses such as ours.

7. MARKET ANALYSIS

• Market Trends

Experts projected that in 2017, the retail market for the Smartphones industry is expected to profit from growing global economic conditions.

Per capita income levels have scaled across the globe and a growing numbers of teens in emerging economies have looked to purchase their own smartphones. As the demand for new smartphones increases, original equipment manufacturers supply more components to industry operators.

A resurgence in demand for new smartphones has stimulated industry profit, as operators were able to increase sales. Steady growth in economic conditions will create avenues for consumers to release pent-up demand for high – end smartphones, hence the increase in demand for upstream supplies.

If you are conversant with the retail market for the Smartphones industry, you will quite agree that the original equipment refers to cell phone parts and accessories that are manufactured to the specification of cell phone manufacturers.

These standards are global, and cell phone manufacturers typically source the same part from different suppliers. Even though these parts and accessories are manufactured by companies in the industry, original equipment carries the name of the final cell phone assembler.

The cell phone accessories stores landscape has seen tremendous changes in the last 20 years; it has grown from the smaller outlets to a more organized and far reaching venture. The introduction of franchise and online store makes it easier for a cell phone accessories retailer to reach out to a larger market far beyond the areas where his physical store is located.

8. Our Target Market

Those who patronize cell phone accessories store cut across all genders above 18 years with the financial means and who own cell phones, hence the target market for cell phone accessories store business is all encompassing. In essence, your target market can’t be restricted to just a group of people, but all those who own cell phones.

In view of that, we have positioned our cell phone accessories store to service the residents of Harrington – Delaware and every other location where our outlets stores will be located all over key cities in the United States of America and Canada.

We have conducted our market research and feasibility studies and we have ideas of what our target market would be expecting from us.

Our Competitive Advantage

A close study of the retail market for the Smartphones industry reveals that the market has become much more intensely competitive over the last decade. As a matter of fact, you have to be highly creative, customer centric and proactive if you must survive in this industry.

We are aware of the stiff competition and we are prepared to compete favorably with other leading cell phone accessories stores in Harrington – Delaware.

John Lyon® Cell Phone Accessories Stores, Inc. is launching a standard phone accessories store that will indeed become the preferred choice of residence of Harrington – Delaware and every other location where our outlets will be opened.

Our cell phone accessories store is located in a corner piece along a major road close to one of the largest residential estates in Harrington – Delaware.

We will ensure that we have a wide range of cell phone accessories from leading manufacturers available in our store at all times. It will be difficult for customers to visit our store and not see the type of cell phone accessories they are looking for.

One of our business goals is to make John Lyon® Cell Phone Accessories Stores, Inc. a one stop cell phone accessories retail shop. Our excellent customer service culture, online store, various payment options and highly secured facility will serve as a Competitive Advantage for us.

Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and objectives.

We will also give good working conditions and commissions to freelance sales agents that we will recruit from time to time.

9. SALES AND MARKETING STRATEGY

• Sources of Income

John Lyon® Cell Phone Accessories Stores, Inc. is in business to retail a wide range of cell phone accessories to residents of Harrington – Delaware. We are in the industry to maximize profits and we are going to ensure that we achieve or business goals and objectives. John Lyon® Cell Phone Accessories Stores, Inc. will generate income by selling the following products;

10. Sales Forecast

One thing is certain when it comes to cell phone accessories stores, if your store is stocked with various types of cell phone accessories and is centrally positioned, you will always attract customers cum sales.

We are well positioned to take on the available market in Harrington – Delaware and we are quite optimistic that we will meet our set target of generating enough income/profits from the first six months of operation and grow the business and our clientele base.

We have been able to examine the cell phone accessories stores industry and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. Below are the sales projections for John Lyon® Cell Phone Accessories Stores, Inc. it is based on the location of our business and other factors as it relates to cell phone accessories stores in the United States;

• First Fiscal Year (FY1): $240,000
• Second Fiscal Year (FY2): $350,000
• Third Fiscal Year (FY3): $550,000

N.B : This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor within our market space. Please note that the above projection might be lower and at the same time it might be higher.

• Marketing Strategy and Sales Strategy

Before choosing a location for John Lyon® Cell Phone Accessories Stores, Inc. we conducted a thorough market survey and feasibility studies in order for us to penetrate the available market and become the preferred choice for residents of Harrington – Delaware.

We have detailed information and data that we were able to utilize to structure our business to attract the number of customers we want to attract per time.

We hired experts who have good understanding of the cell phone accessories stores industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Harrington – Delaware.

In summary, John Lyon® Cell Phone Accessories Stores, Inc. will adopt the following sales and marketing approach to win customers over;

• Introduce our cell phone accessories store by sending introductory letters alongside our brochure to key stakeholders in Harrington – Delaware
• Ensure that we have a wide range of cell phone accessories from different brands at all times.
• Make use of attractive hand bills to create awareness and also to give direction to our store
• Position our signage/flexi banners at strategic places around Harrington – Delaware
• Position our greeters to welcome and direct potential customers
• Create a loyalty plan that will enable us reward our regular customers
• List our business and products on yellow pages ads (local directories)
• Leverage on the internet to promote our business
• Engage in direct marketing and sales
• Encourage the use of Word of mouth marketing (referrals)
• Join local chambers of commerce and industries to network and market our products

11. Publicity and Advertising Strategy

Despite the fact that our cell phone accessories store is well located, we will still go ahead to intensify publicity for the business.

John Lyon® Cell Phone Accessories Stores, Inc. has a long-term plan of opening outlets in various locations all around Delaware and key cities in the United States which is why we will deliberately build our brand to be well accepted in Harrington before venturing out.

Here are the platforms we intend leveraging on to promote and advertise John Lyon® Cell Phone Accessories Stores, Inc.;

• Place adverts on community based newspapers, radio stations and TV stations.
• Encourage the use of word of mouth publicity from our loyal customers
• Leverage on the internet and social media platforms like; YouTube, Instagram, Facebook, Twitter, LinkedIn, Snapchat, Google+ and other platforms to promote our business.
• Ensure that our we position our banners and billboards in strategic positions all around Harrington – Delaware
• Distribute our fliers and handbills in target areas in and around our neighborhood
• Advertise our cell phone accessories store business in our official website and employ strategies that will help us pull traffic to the site
• Brand all our official cars and trucks and ensure that all our staff members and management staff wear our branded shirt or cap at regular intervals.

12. Our Pricing Strategy

On the average, there is a standard price for various cell phone accessories hence the prices of our cell phone accessories will conform to what is obtainable in the industry but we will ensure that within the first 6 to 12 months our products are sold a little bit below the average price in the market.

We have put in place business strategies that will help us run on low profits for a period of 6 months; it is a way of encouraging people to buy into our brands.

• Payment Options

The payment policy adopted by John Lyon® Cell Phone Accessories Stores, Inc. is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that John Lyon® Cell Phone Accessories Stores, Inc. will make available to her clients;

• Payment via bank transfer
• Payment with cash
• Payment via credit cards
• Payment via online bank transfer
• Payment via check
• Payment via mobile money transfer

In view of the above, we have chosen banking platforms that will enable our clients make payment for our cell phone accessories purchase without any stress on their part.

13. Startup Expenditure (Budget)

When it comes to starting a cell phone accessories business the major areas that you look towards spending the bulk of your cash is in the purchase of a wide range of cell phone accessories from different manufacturing brands and of course renting or leasing a well located store facility.

You are also expected to pay your employees and your utility bills. These are the key areas where we will spend our startup capital on;

• The total fee for registering the business in the United States of America – $750.
• Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $3,300.
• Marketing promotion expenses for the grand opening of John Lyon® Cell Phone Accessories Stores, Inc. in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
• The cost for hiring business consultant – $2,500.
• Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $2,400.
• The cost for payment of rent for 12 months at $1.76 per square feet in the total amount of $55,600.
• The cost for shop remodeling (construction of racks and shelves) – $20,000.
• Other start-up expenses including stationery ($500) and phone and utility deposits ($2,500).
• Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $60,000
• The cost for start-up inventory (stocking with a wide range of cell phone accessories from different manufacturing brands) – $50,000
• The cost for counter area equipment – $1,500
• The cost for store equipment (cash register, security, ventilation, signage) – $3,750
• The cost of purchase and installation of CCTVs: $10,000
• The cost for the purchase of office furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al): $4,000.
• The cost of launching a website: $600
• Miscellaneous: $10,000

We would need an estimate of two hundred and fifty thousand dollars ($250,000) to successfully set up our standard cell phone accessories store in Harrington – Delaware.

Generating Funds/Startup Capital for John Lyon® Cell Phone Accessories Stores, Inc.

John Lyon® Cell Phone Accessories Stores, Inc. is a private registered business that is owned and financed by John Lyon. He has decided to restrict the sourcing of the startup capital to 3 major sources.

• Generate part of the startup capital from personal savings
• Source for soft loans from family members and friends
• Apply for loan from my Bank

N.B: We have been able to generate about $50,000 (Personal savings $30,000 and soft loan from family members $20,000) and we are at the final stages of obtaining a loan facility of $200,000 from our bank. All the papers and documents have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

14. Sustainability and Expansion Strategy

Part of the plans we have in place to sustain John Lyon® Cell Phone Accessories Stores, Inc. is to ensure that we continue to make available a wide range of cell phone accessories from different manufacturing brands, deliver quality services, improvise on how to do things faster and cheaper. We are not going to relent in providing conducive environment for our workers.

From our findings, another factor that kills new businesses is financial leakages. In order to plug financial leakages, the management of John Lyon® Cell Phone Accessories Stores, Inc. adopted the use of payment machine and accounting software to run the business.

We are quite aware that our customers are key component to the growth and survival of our business hence we are going to continuously engage them to give us ideas on how to serve them better and the products they want to see in our store. We will not waste time in adopting new technology, best practices and diversifying our services.

John Lyon® Cell Phone Accessories Stores, Inc. will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List/Milestone

• Business Name Availability Check : Completed
• Business Registration: Completed
• Opening of Corporate Bank Accounts: Completed
• Securing Point of Sales (POS) Machines: Completed
• Opening Mobile Money Accounts: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of Insurance for the Business: Completed
• Leasing of store facility and remodeling the store: In Progress
• Conducting Feasibility Studies: Completed
• Generating capital from family members: Completed
• Applications for Loan from the bank: In Progress
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents and other relevant Legal Documents: In Progress
• Design of The Company’s Logo: Completed
• Printing of Packaging and Promotional Materials: In Progress
• Recruitment of employees: In Progress
• Purchase of the needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
• Creating Official Website for the Company: In Progress
• Creating Awareness for the business both online and around the community: In Progress
• Health and Safety and Fire Safety Arrangement (License): Secured
• Compilation of our list of products that will be available in our store: Completed
• Establishing business relationship with vendors – manufacturers and suppliers of cell phone accessories: In Progress

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Mobile Accessories Business In India Cost, Investment, Profit, Requirements | SkillsAndTech

Though investing in any business idea is never an easy call, but by applying the right strategy and using a well-crafted business plan, you can achieve assured success in your business. In addition to this, opting to do a business that has an extensive reach of people praising it is one big add on to its success. Furthermore, one such business idea is Mobile Accessories Business. Choosing to become an entrepreneur is a decision that can bring a lot of exciting and good opportunities to you. Additionally, opting to invest in a business idea that is extremely popular amongst people adds a lot to your success.

While we think and plan to invest in a business idea, we often face a lot of questions, such as- will the business grow? Will it generate the expected profit? Should I really invest in it? and this list is a bit long.

Whenever we decide to begin with something new and different in life, we face challenges, and there are even risks involved in it. But, with a growing business idea like the Mobile Accessories Business, the success rate is fully assured.

Therefore, let us now learn all about the Mobile Accessories Business in complete detail.

Table of Contents

The Idea behind Choosing Mobile Accessories Business

In the above-given paragraph, we briefly discussed the reason behind choosing the Mobile Accessories Business, but now we will learn a little about why we should give preference to do such a business. Working in every sector has its own challenges, risk factors, perks, and benefits involved. But this fact cannot be avoided that doing a business provides an individual more success in comparison to a job. Hence, it can be clearly stated that investing in a business idea can be the right alternative for budding entrepreneurs as well as for small-scale businessmen.

Additionally, with the harsh circumstances and situations caused due to the outbreak of the deadly COVID-19 pandemic, the condition of the market has constantly been depriving. Though taking a lot of precautions and tough step like complete lockdown in the country, the situation could be handled as the cases reduced. But, now, with again rapidly growing cases of COVID-19, it is again witnessed that the job market has started to suffer, and people have started living with a fear of losing their jobs anytime.

This is the biggest reason that why an individual who is planning to start his/her career should invest in a business idea like the Mobile Accessories Business. Moreover, investing in a popular business idea always brings new opportunities to you, turning you into a successful business entrepreneur.

An In-depth Analysis

Choosing to invest in a Mobile Accessories Business is an excellent idea for budding entrepreneurs as this is a business idea that has a great profit margin and is also a business in high demand. Furthermore, the mobile accessories business is a business that has a massive reach and an extensive market at present. Besides, you can manufacture the mobile accessories and sell them in your local market very easily as they have a great demand amongst people of every age group.

A mobile phone is a device that has continued to evolve more and more for the betterment of humankind. In addition to this, it means that not only technology helped us grow better, but with the development of smartphones, all of our work, daily activities, and other related things have become comparatively easy and even interesting.

Moreover, in a harsh condition that was caused due to the outbreak of the COVID 19 pandemic, we could stay connected, learn, groom, and even entertain ourselves only with the help of our mobile phones.

Importance of Mobile Accessories

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Have we ever asked a normal question to ourselves that what is a mobile alone without its supportive accessories?? Ever thought of using a mobile phone interestingly and without holding on any dependency on any of its accessories??

Well, if we go deep in that thought, then the answer is a possible no. Besides, the reason behind this is that using a mobile for a long period of time without charging is not possible; the mobile phone will turn off or will be switched off. Except for this, making calls while working is not possible without using an earphone, Air Pods, Bluetooth earphones, or other related accessories.

Therefore, it is clearly understood that using a mobile phone cannot be done easily without using its accessories together with it. Hence, mobile accessories are also equally important and also have great demand in the existing market.

Why are Mobile Accessories Important??

• In the world and time that we are living in, having a mobile phone is not anything new or different. But, why is it equally important to own mobile accessories also??
• The answer is quite simple and easy to understand.
• It is the safety of our devices that we want to secure, and it is only possible by acquiring suitable mobile accessories for our mobile phones.
• Additionally, carrying a mobile phone everywhere we go is not safe completely. Hence, we tend to secure its screen as well as the backside of the mobile phone with the help of a screen guard or a tempered glass and a back cover.
• Furthermore, mobile accessories such as the- charger, Pop Sockets, selfie sticks, earphones, etc., also have equal importance just like a mobile phone.
• Therefore, while you plan to invest in a Mobile Accessories Business, you must give importance to knowing about all the related devices and accessories.

Business Plan for Mobile Accessories Business

• Intending to set up the Mobile Accessories Business, the primary requirement is to have a well-crafted and detailed business plan.
• Additionally, you should be extremely clear about the mobile accessories that you want to use in your mobile accessories business.
• Furthermore, to set up your mobile accessories business successfully, you are required to study your target market carefully.
• Also, analyzing the target market thoroughly will help you in making a list of the local shops and stores around your location where you can easily sell your manufactured mobile accessories.
• Moreover, marketing strategy is one of the most important factors that play a crucial role in establishing your business entity.
• Except for this, to ensure the good marketing and sale of your mobile accessories, you must make your business plan with an effective marketing strategy.
• Additionally, the costing and pricing of the manufactured product also plays an equally important role in improving the sales of your product and also increases its sale in the market.
• Besides, to make and gain good customers in the initial phase of your mobile accessories business, it will be helpful if you keep the cost of your manufactured products reasonable and affordable.
• Moreover, offering good discounts on more extensive sales will help you in selling your mobile accessories in bulk.

A Detailed Guide

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• Since now we have understood about the Mobile Accessories Business and the importance of mobile accessories in our daily lives.
• Let us now learn a little about the mobile accessories that have great market potential with a massive rate of demand and supply in the present market.

Investment for Mobile Accessories Business

The Mobile Accessories Business demands a good investment. The investment in the initial phase also depends on the number of mobile accessories that you target to manufacture. Besides, it also impacts the finance that you are required to invest in your business.

Secure a Location for your Business

• To establish a business successfully, securing a suitable location is a necessity.
• In addition to this, while securing a location for the mobile accessories business; you should be aware of your target market.
• Additionally, you must be very clear about where you want to sell your mobile accessories.
• Besides, your business entity location should be near to your local market so that it will be easy for you to attract customers.

License and Registration for Mobile Accessories Business

To establish a this manufacturing business, you must obtain specific licenses is a must.

Registration of Firm:

You may start the small to medium Business either a Proprietorship or Partnership Firm.

If you are starting this Business as One Person Company, then you have to register your firm as a proprietorship.

For Partnership operation, you have to register as a limited liability partnership (LLP) or Pvt. Ltd. Company with Registrar of Companies (ROC).

GST Registration:

it is mandatory to get the GST number to run the business; you need to apply for the GST registration.

Trade License:

obtain trade license from local authorities

MSME/SSI Registration:

this MSME/SSI Registration will help you to get schemes and facility for the business offers by the state government

BIS certification:

BIS has mentioned the specific quality standard for Business. ISI specification for the

Trade Mark:

you can secure your brand with trademark registration

IEC code: 

IEC code is essential for the export of the product

Employees 

state insurance which is an insurance scheme for workers.

ESI Registration:

Employees provident fund is compulsory for the business where more than 20 employees are working.

To comply with the above processes and registration, one might need any legal expert who would help in absolute legal compliance to meet industrial standards. 

See Also: Zerodha Sub Broker

In modern time, mobile phones have become like a lifeline to people. It is even recognized as a boon as not only it helps us in staying connected, but it also serves multiple purposes at a time. Mobile phones cannot be used perfectly without their supporting pillar, the mobile accessories as these accessories make the experience of using mobile phones even better and interesting.

Considering the keen and growing interest of people in using mobile phones and mobile accessories, investing in the Mobile Accessories Business can be a great decision for the budding entrepreneurs and new businessperson.

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Robust Business Plan for Mobile Shop / Store

Since last year, the mobile market has weakened globally due to a variety of factors, including a decline in consumer spending and the coronavirus outbreak. Despite this awful situation, India has continued to expand as the world’s fastest-growing mobile market.

When the pandemic is over, it will almost surely be restored to its previous vibrancy, and if you are considering taking the risk and starting your own business, now is the time to do so. Read top notch post pandemic business ideas for women .

The mobile phone has evolved into a conscious and fundamental component of human existence in modern times. Apart from texts, calls, and other forms of connection, mobile phones are a vital source of information, tracking, and so on. As a result of their routine use in everyday life, people’s dependency on cell phones is growing.

This, combined with the fact that the cost of a smartphone exceeds that of multiple PCs, explains why cell phone merchants have experienced rapid growth. To be big in this profitable mobile shop business, you must have a retail location and approved vendor agreements with the major transporters.

A rising number of consumers are utilizing their cell phones to make purchases and conduct web searches. With the growing interest in this versatile invention, now is the right time to launch a business in this field. A mobile phone startup can be a viable business or a side hustle to generate additional revenue.

The following is a checklist of how to start a mobile shop in India:

How To Create a Mobile Shop Business Plan?

The next stage in learning how to launch a mobile store is to create a business plan that demonstrates your knowledge of market forces and conditions. The strategy you develop must detail how you will conduct marketing campaigns and outreach, as well as how you will meet the needs of your clients.

• The company strategy must include as much detail as possible about leasing costs, staff costs, and other overhead expenses. 
• The plan will serve as a visual representation of your comprehensive business operations. 
• Once the resources and expenditures have been identified, you can alter your business strategy accordingly.

If you are wondering how much money you will need to operate a cell phone business, read on. You should first assess your financial status, determining how much money you have and how much you can borrow. Additionally, analyzing dangers while investing in this enterprise will always involve some level of risk, but it should not be excessive. If you are unable to obtain the minimum amount required for the perfect store in mind, you can compensate by reducing the scale of your operation.

Mobile Shop Business Investment Required

A minimum expenditure of approximately 6 to 9 lakhs is necessary to open a mobile store, depending on the location, size, and merchandise to be supplied. Generally, mobile stores operate well in regions with high foot traffic, such as malls, bus stops, train stations, and shopping complexes.

Amount of Space Required

A mobile shop opening cost requires an area of approximately 11 × 16 square feet or 160 square feet. The store’s display cases, lighting, cameras, and air conditioning must all be outfitted. It is crucial to have a long counter measuring 9 x 3.75 feet on the left side with glass on the front and top portion and two to three good-view cupboards with glass on the rear wall of the counter, all of which should be decorated and illuminated.

Mobile Shop Registrations and Licenses Required

Even modest mobile stores managed by one or two people generally generate more than Rs.9 lakhs in annual revenue. As a result, it is prudent to establish the business as a Limited Liability Partnership (LLP). If you intend to open big mobile stores in locations such as malls or to sell online via eCommerce portals, it is advisable to incorporate a corporation. Know the entire process of LLP Registration .

• Along with the business registration, a VAT number and an Import Export Code would be necessary.
• Most states require those who sell goods worth more than Rs.5 lakhs in a calendar year to register for VAT.
• Service tax registration may be necessary if the mobile business operates a successful mobile service center with annual sales exceeding Rs.8 lakhs.

In essence, VAT registration is required for all mobile stores.  Finally, due to cost benefits, the majority of mobile stores now import mobile accessories directly from countries such as China. In such circumstances, where goods are imported, it is prudent to obtain an IE code as well.

Smartphone Marketing plan

It is critical for business growth that you have a solid marketing strategy in place since failing to do so may make survival difficult.

• Prepare a marketing strategy that demonstrates your understanding of the economic condition and how you want to market and manage clients.
• Regardless of whether you have solid figures for rent and representational expenses, you must research to determine the typical costs.
• Include estimation for initial stock and timely fresh stock. Additionally, you can work towards developing a website to increase customer outreach.

Locate a distributor

Once you have completed all of these tasks, you must perform market research for mobile phone distributors to acquire stock. Then strategically display it in your shop to enhance your sales. 

Know Your Market

• Starting a mobile phone business could be a lucrative venture in India, but it’s essential to research existing competitors.
• Proactively avoiding competition should be your primary strategy.
• Determine your budget for the mobile shop. How much capital are you prepared to invest in entering the market?
• Always be mindful of your investment limits when creating your mobile shop inventory. Never exceed them, as the saying goes, “Never test the depth of the river with both feet.”

Tips To Attract Mobile Store Customers

• Create a showcasing and advertising strategy once your store is fully operational.
• Start with the most cost-effective options: an independent website and other media sites.
• You can additionally or alternatively also invest in newspaper, television, and radio advertisements. In the first few months, it is advisable to focus almost entirely on local media. 
• As your company grows, expand your administrations around the state. It will increase brand awareness and generate additional revenue.
• Consider your target audience’s needs and provide additional services to entice and engage with potential customers.
• Challenges, advancements, and rewards are all fantastic ways to secure new business and gain a competitive advantage.

You may also look after :- Best Practice for Mobile Shops

In India, retailers and wholesalers are often required to form a diverse retail business with limited reach. Thus, it is vital that this firm is launched at the optimal time; tremendous benefits can be realized through collaboration. Make your doubts clear by checking the exact difference between wholesaler and retailer .

To conduct this business, it is necessary to assess the purchasing capacity and techniques of those who live in the area of business. Since the mobile phone was not included in the list of essential items, it was previously classified as an expensive item; but, due to changes in public perception, it can now be classified as an important everyday item.

Business Loan For Mobile Store Business

We at Indifi understand how difficult it is for micro, small, and medium-sized businesses to secure loans through banks or other government programs. As a result, we devised a system that enables businesses to easily get funds for their capital needs.

Indifi can aid your business in resolving cash flow problems by:

• Providing businesses with collateral-free loans at competitive rates and flexible repayment terms. You may easily apply for the loan online at Indifi and receive the funds within a few days.
• An unsecured line of credit to assist you in managing cash flow requirements before receiving customer payments. You can withdraw cash up to your Indifi credit limit, reimburse it as consumers pay, and borrow again as necessary. Here are some ways to manage cash flow for small businesses.

Our specialist loans offer low-interest rates and flexible repayment terms to assist you in overcoming any financial problems linked to your medical facility.

Final Words

The cell phone retailing sector is extremely lucrative, and small independent dealers sometimes find themselves caught off guard in comparison to retail giants. To compete successfully, you may need to give up a piece of your overall revenue and reduce your expenditures to match or even beat other handset makers and their offer prices. 

Additionally, you are prone to have a variety of unique offers and limitations constantly, possibly in response to what your competitors are doing and an attempt to shift old stock. A well-known technique is to bundle another phone with extras, such as a hands-free unit, or to provide ‘cashback’ deals.

Is mobile shop business profitable?

A mobile shop business can be profitable, success often depends on careful planning, market research, effective marketing strategies, and providing exceptional customer experiences. It’s essential to assess the local market conditions and competition before starting or investing in such a venture.

Is operating a mobile phone repair business a viable option?

Certainly, with effective management, a mobile phone repair venture has the potential to yield substantial profits for entrepreneurs. However, it’s crucial to prioritize the provision of high-quality spare parts and services to establish a reputable brand. Additionally, soliciting customer feedback can be instrumental in further enhancing the business.

What is the leading smartphone manufacturer in India for the year 2021?

Here’s a compilation of the top 10 smartphone companies in 2021

• Xiaomi Mobile
• Lenovo (including Motorola)

Is the sale of mobile phone accessories a profitable?

Embarking on a cell phone accessory business venture holds promising potential. It presents an opportunity for substantial profitability amidst fierce competition. Yet, by securing a strategic location with minimal competition or establishing a robust online presence ahead of competitors, there lies the prospect of cultivating a thriving small business focused on selling cell phone accessories.”

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Top 7 Best Mobile Accessories Startups In India Leading the Industry

Bhoraniya huda hifzur rehman.

Mobile Accessories is itself made up of two words. Accessories stand for the things, whose addition can increase the usefulness of the original thing.

Mobile Accessories stand for those hardware's that can be added up to mobile in case to increase its versatility. Mobile Accessories include the objects like chargers, earphones, Bluetooth speakers, selfie sticks, camera lens attachments, etc. There are many examples of mobile accessories.

Concerning increasing demand and increasing uses of mobile phones. There has been a great increment in the market of mobile accessories as well.

To overcome this, many startups have been established. Some of them have already touched the heights or are already on their peak. Some examples of them are boAT, WrapCart.com, iBall, Lava International Limited, VingaJoy which is a Brand under UBON, Dizon Brand Under Realme, Black Shark, etc.

Let us have a look at the most winning mobile accessories startups:

WrapCart.com

• Black Shark FAQs

‌Basics of Mobile Accessories Startups

Planning a mobile accessories startup is not rocket science. Getting your startup in a good place is also not a big deal. However, maintaining them at the same position at least if not improving is the real talent.

For a mobile accessories startup, the most important factors to be mindful of are market analysis, selecting a location, gathering funds, getting the business model, completing the legal procedures, looking out for different parts and their vendors, and inventory management.

All these points are required to just start a business. Where to maintain a business, the most important thing is its fund or a source of investment. Not all startups start collecting profit from day one, some go on through a difficult way and gradually start getting fledged.

The examples of mobile accessories startups that we are going to discuss, some have seen a direct path to success whereas some went through the hard way.

boAT was first initiated in the year 2015. It is an India-based startup established by the joint efforts of Aman Gupta and Sameer Mehta.

boAT from the start of its manufacturing up till now has been known to make different kinds of mobile accessories. Especially in the range of headphones, earphones, travel chargers, and premium rugged cables.

The other products of boAT include wireless earbuds, wireless speakers, home audio equipment, etc.

It was established in the year 2017. It is also an Indian Startup. WrapCart was made by the efforts of young student entrepreneurs . It is an online platform mostly famous for its wrap.

WrapCart is famous for applying accessories such as wrap fold for mobile, laptops, cards, etc. They have seen great success in just three years.

Apart from wraps, there are some other mobile accessories also available at it. However, this store is available only as an online option and can not be accessed offline.

iBall is not a new startup. It was started in the year 2001. However, at that time, the initial product of iBall was just a mouse. With time, iBall gained much success and entered into different spaces such as the mobile market.

iBall gained its recognition soon enough from the start of its mobile market where it was known to manufacture and supply mobiles as well as mobile accessories of its brand.

Mobile accessories such as speakers, Bluetooth handset, wireless earphones, etc are available at iBall.

Lava International Limited Company was started in the year 2009. From the year of its start till now, it has seen great success. It is well established in many countries across the globe.

Along with mobile accessories, Lava International Limited is known to manufacture top-quality mobile phones, laptops, etc. It is a leading handset manufacturing company that has its roots expanded in different places. With handset as its primary focus, Lava is also known to make mobile handsets.

Mobile accessories such as earphones, wireless earphones, earbuds, etc are some of its known products.

VingaJoy is a sub-brand of Ubon. Ubon brand was originated in Delhi by co-founders Mandeep Arora and Lalit Arora in 2004. From there on, its products have created a tussle in the mobile accessories market.

Ubon is a tech-lifestyle brand that especially deals in developing headphones, Bluetooth speakers, chargers, cables, surge protectors, etc.

It is known to manufacture neckband earphones, earbuds, Bluetooth speakers, AirPods, etc.

Dizo is a brand under Realme's partners TechLife Ecosystem. It is an Indian-based space used to launch new products. It was started up in 2021.

Dizo is known to make mobile accessories also such as headphones, earphones, etc. Even though it has been started recently, the response received is quite appreciable.

Black Shark

Black Shark is a subsidiary of Xiaomi . Black Shark was founded in the year 2018. It is majorly a gaming mobile phone branch.

Black Shark aims to provide a perfect gaming mobile to its users. Along with mobile, it is also known to produce Accessories that can be attached to mobile.

From the time it has been launched, there have been multiple successful products on its list to look for. One of the recent products is Black Shark JoyBuds. Similar to this, many different products are available at Black Shark.

With the advances made in mobile phones, people started looking up to get mobile accessories about them. As the need for manufacturing more mobile arises, on the parallel aspects, there is also a rise in the need for mobile accessories. This need has been fulfilled by new startups that are taking place across the globe.

These startups are either a subsidiary of an already known brand or are a new brand of their own. They are winning the mobile accessories market through their top-notch products. Some of the best-winning startups have been listed above.

Is phone accessories a good business?

Starting a mobile accessories business can be very profitable and very competitive. In addition to smartphone franchises that sell accessories, independent stores and kiosks can be found in many shopping malls and other public spaces. Also, you can find many websites and online stores selling mobile accessories.

What is the margin in mobile accessories?

Mobile accessories profit margin lies anywhere between 30% to 60% depending on the type of marketing and product you sell. These margins are promising than building a smartphone that margins about 10%.

Are phone case businesses profitable?

A phone case business is a profitable way to make money online. The phone case market was worth $10 billion in 2020 and is expected to grow 7.5% annually through 2025, reaching $35.5 billion.

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India's Mobile Phone And Accessories Market Set To Boom This year the industry is expected to thrive further and is projected to see 190-200 million shipments in 2022 alone with 5G looming on the horizon

By Amit Bansal May 5, 2022

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

It's no secret that the Indian mobile industry had a few speed bumps on component supply crunch owing to the pandemic and global shortage of chipsets. Consumer spending on mobiles took a hit too. However 2021 onwards, the resilient sector has seen a comeback of sorts. The boom is being driven by consumers upgrading to better devices and increased demand for personal devices in homes as offices, schools, colleges and entertainment all shifted to people's homes.

This year the industry is expected to thrive further and is projected to see 190-200 million shipments in 2022 alone with 5G looming on the horizon. With a substantial jump in the average selling price (ASP) of mobiles and higher volumes, the smartphone market revenue in India crossed $38 billion (27 per cent y-o-y growth) in 2021. The feature phone segment however saw flat sales. Retail ASP of smartphones in the country grew over 14 per cent y-o-y in 2021 to reach its highest ever at $227 or INR 17,000 approximately. However, owing to global semi-conductor shortage, in the last two quarters of 2021, the supply was outstripped by demand. Q4 2021, saw an 8 per cent decline y-o-y but the situation is expected to get better by the end of Q1 2022.

The government approved a INR 76,000 crore ($10.2 billion) initiative in December 2021, to expand semiconductor and display manufacturing in India, establish the country as a worldwide hub for hi-tech production and attract large chip companies. The initiative will push India to achieve its goal of becoming self-reliant in electronics manufacturing by attracting significant investments and creating 35,000 specialised jobs, in addition to 100,000 indirect jobs. Local manufacturing has also bounced back, contributing 98 per cent of shipments in 2021 compared with 90 per cent in 2020. The PLI scheme is a welcome move for the Indian mobile manufacturing ecosystem, attracting top players like Apple and Samsung to increase their Make in India footprint and make India their export hub. Another point to be noted is that handset exports in the country also saw a 26 per cent y-o-y increase in 2021. According to the Software Technology Parks of India (STPI), Telangana, Maharashtra and Uttarakhand have submitted three new proposals for setting up electronics clusters under the modified scheme for consideration by the ministry of electronics and information technology (MeitY). All of these initiatives and factors, when looked at cumulatively, have pushed the market up and are expected to keep driving further growth.

At the helm of this boom and high demand are decreasing prices of smartphones. Top-of-the-line value chain assemblies like the Foxconn plant are being set up in the country to assemble premium smartphones from the likes of Apple, Xiaomi and Nokia. All these factors translate to reduced smartphone prices, as a result of which, more and more consumers are opting to buy smartphones, slowly phasing out "dumb' feature phones. While feature phones will continue to be around, India's growing digital transformation and the digital economy has provided the requisite impetus for consumers to upgrade to smartphones. Even consumers at the bottom of the pyramid are seeking affordable and accessible smartphones that deliver on voice, vernacular, and video. Smartphone brands that can bring unique, affordable, and data-bundled propositions like the JioPhone Next, will stand to gain in this race to win users at the bottom of the pyramid.

Another segment that will almost certainly piggyback off the smartphone boom is mobile accessories. The major mobile accessories used by customers include powerbanks, USB cables, mobile cases and covers, chargers and earphones. Owing to substantial growth in adoption of smartphones and tablets, the mobile accessories market in India is expected to reach INR 25,280 crore by 2023. It was a fairly unorganised segment but now change is afoot. Large brands like Boat, Pebble and Spigen, which only used to import and assemble in-country are now starting to manufacture in India. For example, currently around 10 per cent of Boat's products were manufactured in India and the rest was churned out in Vietnam and China. Now, Boat's target is to manufacture close to 40 per cent of its production volume in the home market by 2024 and is hoping to make the most out of the government's proposed PLI (Product Linked Incentive) scheme for wearable makers.

With both markets primed and ready to boom, mobile and accessory brands will need to drastically expand their reach amongst the masses to capitalise on this gold rush. Deep retail and distribution through B2B e-commerce platforms will be vital, coupled with the ability to rapidly expand their network of trusted distributors and retailers in Tier II, III, and IV cities across the country. This is where B2B e-commerce marketplaces such as Solv can play a huge role by facilitating commerce and weeding out bottlenecks in the supply chain.

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Online Mobile Accessories Business Roadmap!

The rapidly increasing number of smartphone users in India is driving exponential growth in the mobile accessories market. This creates the perfect atmosphere for the online mobile accessories business’s would-be business owners to capitalize on the growing market and launch a wholesale operation. Business owners can do many things to succeed in selling mobile accessories wholesale in India. This article will look at important parts of starting and running this kind of business in India.

Market Size of Mobile Accessories Business

Here’s a simplified version:

The worldwide market for mobile phone accessories was valued at a huge USD 335.59 billion in 2021. Experts predict it will continue to grow steadily, with a yearly growth rate of 3.4% percent. By 2030, they expect it to reach around USD 413.2 billion.

Scope of Business

“The market for mobile phone accessories is predicted to grow at a compound annual growth rate (CAGR) of 7.20% from 2022 to 2030, to reach USD 157.3 billion. Almost everyone owns a cell phone, and that’s your target audience, and it is quite large. The mobile phone requires a lot of accessories that make it more efficient and protect it.

Market Demand for Mobile Accessories businesses

India: A Lucrative Market: Mobile Phone Accessories Market Value: The Indian mobile phone accessories market was estimated at  USD 82.90 billion in 2021 . Growth Forecast: It is anticipated to reach a value of USD 132.18 billion by 2030, indicating a promising CAGR of 6.8%.

Future Potential

India’s mobile phone accessories market is valued at US$ 2238.4 in 2022. Analysts project a Compound Annual Growth Rate (CAGR) of 9.72% from 2023 to 2030. This growth is fueled by factors like increased disposable income, rising mobile penetration, and a growing urban population. As a result, the market is expected to expand significantly in the coming years.

Machinery & Equipment for Mobile Accessories Business

• Plastic Auxiliary Equipment
• Screw Air Compressor
• blow molding extrusion machine
• plastic pipe 
• profile extrusion line 
• mold labeling machine
• Cap Compression Molding
• Screw and Barrel Solution

Loans for businesses

Sure, here’s a simplified summary with transition words:

To get a loan for your online mobile accessories business:

First, figure out how much money you need. Then, decide what kind of loan is best for you and how long you need to pay it back. Make sure to check the interest rates and if you need to give something as security.

Next, write a detailed plan for your business. This will help lenders understand what you want to do and if you can pay back the loan. Once you’re ready, apply for the loan. Be sure to give all the necessary documents. Compare the loan offers you get from different places. When you find the best one, make sure you understand all the terms before you agree to it. After you get the loan, plan how you’ll pay it back on time.

Following these steps can help you get the loan you need to start or grow your online mobile accessories business.

John, who loves tech stuff, saw more people needing phone accessories. So, he made an online store. He focused on making it easy to use, selling good stuff, and using ads online. By keeping customers happy and following trends, John’s store grew, showing how online shops can do well in the phone accessory market.

Chances of Success in Business

Selling smartphone accessories online can be tricky. A lot of things can affect whether a business does well or not. Things like what kind of business it is, where it is, how the market is doing, and how good the person running it is at their job all play a big role. Numbers say more than 45% of new businesses will close within five years, and about 20% will close within the first two.

Product Marketing Strategies for Online Mobile Accessories Business

To market your online mobile accessories business well, first, know who you’re targeting. Then, make interesting content and use social media like Instagram, Facebook, Twitter, and TikTok. Also, make sure your website shows up when people search for things related to your products. Collect email addresses from interested customers. Consider paying for ads online (PPC) and teaming up with bloggers and influencers. Ask customers to leave reviews and offer discounts. Lastly, reward loyal customers. By doing these things, you’ll gain trust, credibility, and more sales.

Hire and Train Your Team

To hire and train a team for your online mobile accessories business:

• Decide what jobs you need.
• Find people who know about phones and like helping others.
• Talk to them to see if they’re a good fit.
• Teach them everything about your business and their job.
• Make sure they know how to help customers, understand the products, and use computers.
• Keep teaching them new things and help them work well together.
• Ask them how they’re doing and help them get better if needed.

By doing these things, you’ll have a good team ready to help your business grow.

Market Your Brand for Online Mobile Accessories Business

To market your online mobile accessories business effectively:

Firstly, understand your audience. Then, create compelling content that showcases your products. Utilize social media platforms such as Instagram and Facebook to reach potential customers. Additionally, optimize your website for search engines so that people can easily find you online. Collect email addresses for email marketing campaigns and collaborate with influencers to expand your reach. Running contests and giveaways can generate excitement around your brand. Encourage customer reviews and testimonials to build trust. Offer discounts and promotions to attract more customers and leverage user-generated content to showcase your products. Finally, implement a customer loyalty program to reward repeat buyers. By following these steps and utilizing a variety of marketing strategies, you can effectively promote your brand and increase your customer base.

Business Plan for Online Mobile Accessories

Idea: Start an online shop selling phone accessories because lots of people need them. Customers: people who like gadgets and use smartphones. Products: stuff like phone cases, chargers, and earphones. Marketing: Use social media, Google, and emails to tell people about the shop. How it works: Make a website where people can easily buy things, keep track of what’s in stock, and make customers happy. Money: Figure out how much it costs to start, how much money you’ll make, and when you’ll make a profit. Timeline: Plan out when different things need to happen, like making the website and getting the first customers. Goal: Make a successful shop that people like and that makes money.

Template for an Online Mobile Accessories Business Plan :

Sure, here’s a simpler summary:

• Idea: Start an online shop selling phone stuff.
• Customers: people who like gadgets.
• Products: phone cases, chargers, earphones.
• Marketing: Use social media and emails to tell people about the shop.
• Operations: Create a website, handle stock, and help customers.
• Money: Figure out how much it costs and how much you’ll make.
• Timeline: Plan when things need to happen.
• Risks: Think about things that could go wrong and what to do.
• Goal: Make a successful shop by doing all these things.

Starting a mobile accessories business requires proper training and high skills. Additionally, due to the growing dependence on smartphones and other devices, there’s a steady need for accessories that enhance the user experience. Through efficient marketing techniques and the widespread use of the internet, businesses can reach a broad clientele. Therefore, with the right approach, this venture holds significant potential for success.

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Mobile Phone Business in India

The mobile phone business in India is a popular venture due to the high demand and rapidly growing population. In addition, the government’s Make in India initiative makes it easier for foreign companies to establish manufacturing units in the country. You can also start one by getting a reliable Mobile Shop Billing Software which is crucial for efficient sales, inventory records and hassle-free billing.

How to Open a Mobile Shop in India

Starting a mobile phone business in India is one of the best Low Investment Business Ideas . However, if you are still wondering how to open a mobile shop, follow these 15 steps to research, plan, obtain your venture’s licenses, permits and funding and gain mobile shop business profit.

Also Check: M obile Shop Bill Format         Best Billing Software in India

• Conduct market research: Understand the market demand, competition, and trends in the mobile phone industry in India to start a mobile phone business.
• Create a business plan: Outline your goals, target market, financial projections, and strategies for success.
• Register your business: Register with the Registrar of Companies (ROC), obtain a PAN and TAN number and then consider starting a mobile phone business.
• Obtain licenses and permits: Obtain the necessary licenses and permits from the Department of Industrial Policy and Promotion (DIPP) and the Department of Telecommunications (DoT).
• Arrange for funding: Secure funding for your business through investments, loans or crowdfunding.
• Choose a location: Choose a location for your mobile phone business that is easily accessible and has good infrastructure.
• Hire employees: Hire employees for your mobile phone business, including salespeople, technicians, and customer service representatives.
• Source suppliers: Source suppliers for mobile phones and accessories from domestic and international markets.
• Create a website: Create a website for your mobile phone business to reach a wider audience and make it easier for customers to purchase your products.
• Develop a marketing strategy: Develop a marketing strategy like Whatsapp marketing to promote your mobile phone business and attract customers for increased mobile shop business profit.
• Establish partnerships:  Establish partnerships with other businesses to increase your chances of success.
• Attend trade shows: Attend trade shows to network and learn about new products and trends in the industry.
• Test your products: Test your products to ensure they meet quality standards and are free of defects.
• Launch your business: Launch your business and make it official by hosting a launch event.
• Evaluate and improve: Evaluate your business and make improvements as needed.

Starting a mobile phone business in India can be challenging but rewarding for beginners.

Also Check:

What permits and licenses are required to start a mobile phone business in India?

To start a mobile phone business in India, you must obtain licenses and permits from the Department of Industrial Policy and Promotion and the Department of Telecommunications (DoT). These may include licenses for manufacturing, trading, and importing mobile phones.

How can I source suppliers for mobile phones and accessories in India?

You can source mobile phone and accessories suppliers in India by researching and contacting manufacturers directly, attending trade shows and networking with other businesses. You can also look for suppliers from international markets.

How can a mobile phone business in India navigate the intense competition?

A mobile phone business in India can navigate the intense competition by differentiating itself through branding, marketing and providing exceptional customer service. In addition, focusing on niche markets, such as offering customised or high-end products, can also help improve mobile shop business profit.

What are the import and export regulations for mobile phones in India?

The import and export regulations for mobile phones are governed by the Directorate General of Foreign Trade in India, which sets guidelines for importing and exporting goods. These regulations include obtaining licenses, registering with the DGFT, and meeting certain quality standards.

How does the Make in India initiative affect mobile phone businesses in India?

The Make in India initiative has made it easier for foreign companies to enter the Indian mobile phone market. It has also increased domestic manufacturing, increasing job opportunities and economic growth.

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Mobile phones have become a necessity in our lives and we can not imagine even a single second without them. Mobile phones require a certain amount of accessories in order to increase their efficiency and this has opened up a business opportunity.

Do you ever think about starting a mobile accessory shop as a business but have certain doubts about some things like what is the margin? What are the different accessories available? Is this business a suitable business plan for you? How much investment is to be made before starting this business? Then you can have a look at the article below and clear all of your doubts.

Let us have a look on the headings and subheadings of this article:

What are the different ranges of mobile accessories?

How much money is required to start this business.

• Step by step process to setup a mobile accessories business?

How to boost the sales of accessories?

Now, let’s look upon these headings one by one and explore them in order to clear all of your doubts:

If you are wondering whether this business plan is profitable or not, you must know the actual numbers of the worth of this business around the world. Till 2022, this market of mobile accessories and camera is going to reach a net worth of $107.3 billion, according to Allied Market research. 

Every business is started in order to earn a living from it. This business is also the same, every accessory have a different percent of margin. First of all, let us have a look upon the broad variety of mobile accessories:

These accessories can be wired, wireless or both, depending upon their composition.

• Earphones (wired or wireless)
• Headphones (wired or wireless)
• Mobile cover.
• Mobile screen tempered glass.
• Mobile screen protection flash guard.
• Mobile screen lamination.
• Charging brick.
• Charging cable.
• USB type A, B and C cable.
• Bluetooth speaker.
• Car charging brick.
• Power bank.
• And many more.

By having these many products under your cabinet, the chances of going out of business are very slim to 0 if you work hard. Different accessory will have different margin of profit. Usually, if taken average you can observe a net margin ranging from 50% to 75% depending on different accessories.

According to a Founder of retail consultancy, the profit margin of mobile accessories is very large as compared to the margin provided by mobiles itself that is usually 10%. This is one of the main reasons that this industry is blooming at a very fast rate, globally. 

You might be wondering how much I should invest to start this business. Well that is a very vulnerable question. It depends highly on various factors such as:

• What is the cost of a 20x20m shop in your area?
• How much inventory are you planning to purchase?
• And whether you are going to appoint any staff or not.

The answer to this question depends on the place where you wish to set up this business. You need to ask yourself these questions and you will get a result. If not, here are some possible answers you could take help from:

• You are definitely going to purchase or rent a shop in highly populated area. If not, the sales will downgrade drastically and you business will be a flop! After having a place in a decent spot, you will need to build a nice interior of the shop in order to attract the customers.
• For the purpose of inventory, you need to get out on the roads and find a local wholesaler of your area and discuss about your business plan with him. Here you need to challenge your bargaining skills and ask for a discount. Huge the discount will be, more inventories could be purchased.
• If you have just a little bit of knowledge in mobile accessories, you need to keep a trained staff at your shop. Doing this will ensure the customer satisfaction and your sales will also increase.

Taking all these facts in consideration, we can come to a conclusion that you are going to need minimum Rs. 4, 00,000 to start this business at a suitable place.

Step by step process to setup a mobile accessories business:-

Mobiles have a very important place in our lives, and this can be considered a suitable business start up for you. Let us look upon the steps using which you can set up your mobile accessories business.

Build a business plan

If you are going to start mobile accessories business, make sure you have a perfect business plan in your mind along with a clear vision of the future of the business. You need to have the following information while making a business plan for your mobile accessories shop:

• Vision : make sure you have a vision for your business and you know where you see yourself in some years. This will increase your will power and give you a smooth business run. Explore the ways in which you can expand the business and the ways in which you can invest earned money.
• Target market: You need to make sure that you are setting up the business in a perfect market and you have adequate knowledge of the customer base.
• Operations: Try to make the operations of the business as legal and smooth as possible. Keep records of all the sales of accessories and salaries paid to the staff members.

Contact your local dealer

You need to fill inventories in your shop to start a mobile accessories business. For this, you cannot afford to spend more amount than the market rate is for those accessories. Now, the most important thing is to find a supplier. And more the supplier is of the upper chain, more you will benefit.

The best source is to find a local manufacturer because he can provide you the products at a very cheap rate which will increase your margin rate drastically. You need to get out on the road and find a local manufacturer, fix a meeting with him and show your bargaining skills and get the products at a cheap rate.

If not possible to find a manufacture, you can contact a local wholesale dealer of your region and perform the same steps with him. Bargaining for the rates is a very crucial step in this process as it will determine your margin rate and if you can offer discounts to the customers or not.

Find a source of finance

Every business needs an initial source of finance without which it is impossible to run a business. Mobile accessories business is nothing different. As discussed earlier, you require at least 4 lakhs to start this business, now you need to find a perfect way to finance your business.

Here are the three most popular ways using which you can collect money for financing your business.

• Taking up a business loan: This is a very common source of financing. You have to approach a bank and submit the forms for applying for bank loan. It is a long term process but you will get money at a very low rate of interest. Moreover, you do not need to submit any collateral security in the bank against the loan amount. You can repay for such loans in tenure of 15 years.
• Taking up a credit loan: This is also a very common source of financing your business. This is the easiest and the quickest way to get money. But it has some disadvantages also. You need to pay higher rate of interest for a credit loan and you cannot hold the money for a long period of time.
• Savings:  This method does not involve repayment of the money as you are using your savings for financing. But you need to have a load amount of money in your hand already.

There are certain advantages and disadvantages with each of the method. The best way is to mix these ways and form a mixture of these ways to get financing money.

Requirement of licensing

One of the easiest and cheapest ventures is to open a mobile accessories shop. It has some basic requirements like having a 20x20m shop at a decent market place. But to run any business, you will need a proper set of licensing. 

You can start your business as an LLP, solo or partnership. Depending on these choices, you need these sets of registrations:

• You can start a mobile accessory store as a proprietorship if you are going to be the sole owner of the shop. Now if you want to upgrade and open a physical shop you need to register the shop under Shop and Establishment Act.
• Moreover, you need to register under GST for a GSTIN (Goods and Service tax identification Number) if you are expecting annual turnover over 20 lakhs and also if you are considering to sale the products in different states as well.
• PAN registration.
• Aadhar/ DIPP registration.
• Trader’s license.
• To apply for GST registration online, you need to visit the governmental site.

Compute your competition

One of the most disturbing things happens while running a business is watching your competition grow. It does not matter whether you are 20 years old business or a brand new; customers are always attracted towards low price and high quality products.

You have to keep in mind this fact while starting a business. Try to bargain the rates from manufacturer or the wholesaler so that you can offer discounts to your customers. Offering high discounts in the initial days of the business can guarantee you a decent customer base.

Your primary objective while starting this business is to analyze the amount of competition present in the market and you should come up with the strategies to cope up with that competition.

If you have already set up the business, you need to start thinking of the ways in which you can boost the sales in order to increase your profit and expand your business.

Here are some ways in which you can expand your business:

Use Internet Marketing

In this modern world of internet, if you do not prefer the use of internet, you may be at a disadvantage. You need to widen your market instead of doing nothing. If you keep on selling offline, you may earn a decent living, but it will gradually decrease.

Do not consider internet as a foe, consider it as your friend and apart from selling offline, expand your business on internet. This will increase your customer base and it will make your business wide.

Try to grab maximum customers through these two modes and you will experience success.

Promote and advertise your business

Advertisements:  if your business is attractive, you will sell a good amount of accessories. All you need to focus on is to attract the customers and the easiest way to attract customers is by either offering discounts or by advertising.

 As this business does not require much capital to invest initially, you can invest a good amount of money in advertisements and promotions to secure customers. Advertising not only mean to hang board hoardings, you can take help of costume actors who will act as a source of attraction and will boost your sales.

Ask for feedback:

No one is perfect in this world and we all learn from our mistakes. You have to do the same and ask for feedback from customers so that you may correct your errors and increase your service quality. All you have to do is to hang a suggestion box.

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How to start mobile accessories wholesale business in india.

The mobile accessories market in India is witnessing exponential growth, fueled by the ever-expanding smartphone user base. This presents an ideal environment for aspiring entrepreneurs to tap into the burgeoning demand and establish a wholesale business.

By understanding market trends, and consumer preferences, and leveraging strategic partnerships with manufacturers and distributors, entrepreneurs can carve out a profitable niche in this competitive landscape. From sourcing quality products to implementing effective marketing strategies, there are numerous avenues for entrepreneurs to thrive in the mobile accessories wholesale sector. This article will delve into key aspects of starting and navigating this business landscape in India.

Table of Contents

Market Research and Analysis

A thorough understanding of customer behavior and market dynamics is the foundation of any successful company venture. Conducting rigorous market research is critical for identifying growing customer wants and untapped market sectors.

Businesses may make more informed decisions by using the power of data analytics and conducting in-depth market surveys. This strategic strategy allows them to expertly adapt their products and services, effortlessly harmonizing with consumer preferences and increasing satisfaction.

Finally, proactive engagement with market data creates a competitive advantage and lays the groundwork for long-term development and success.

Understanding Customer Preferences

Exploring the complicated fabric of Indian consumer behavior reveals a diverse set of interests and inclinations.

The spectrum of client wishes spans a wide range of product categories, from the search for Data Cables, Neckbands, Chargers, Power Banks, Smart Watches, Bluetooth Speakers, OTG, and Hands-Free etc.

Using approaches like as focus groups and extensive study of purchasing habits provides substantial insights into the exact qualities and visual attractions that resonate with target populations.

By diving into the subtleties of customer preferences, businesses may customize their offers to fit the changing demands and desires of the dynamic Indian market.

Analyzing Competitors

In today’s increasingly competitive market, a thorough examination of rivals’ tactics and offers is critical for firms looking to prosper. This careful research gives crucial insights into rivals’ strengths and shortcomings, allowing businesses to develop successful differentiation strategies.

Organizations may strategically position themselves in the market environment by identifying distinct value propositions and opportunities for improvement.

Such insights not only help firms create engaging brand identities but also allow them to capitalize on undiscovered possibilities, ensuring their competitive advantage and encouraging long-term success in a dynamic business environment.

Identifying Niche Markets

Identifying niche markets entails discovering untapped areas and specialized demographics in addition to meeting mainstream demands. Exploring these previously neglected sectors provides significant development opportunities for firms.

Targeting specialized markets necessitates extensive study and understanding of customer behavior within these specific categories. Companies may build a loyal following and encourage long-term growth by tailoring their products and marketing strategies to the specific demands of these specialized groups. This technique not only diversifies income sources but also increases brand loyalty, as customers value bespoke solutions that adapt to their specific needs.

Furthermore, entering niche markets may give a competitive advantage since enterprises can become pioneers or dominating players in these specialized industries, establishing themselves as the go-to source for specialist products or services. Overall, adopting niche markets may be a smart way to maintain profitability and market leadership.

Legal and Regulatory Requirements

Compliance with legal and regulatory standards is more than simply a formality it is a fundamental component of responsible company operations. Compliance is essential whether registering your firm, getting required permits, or handling tax responsibilities.

Failure to comply can have serious implications, including penalties, legal action, and reputational harm. As a result, seeking professional legal guidance is critical for successfully navigating the complicated regulatory landscape. Furthermore, remaining current on legislative changes and upgrades is critical for modifying your company processes properly.

By emphasizing compliance and being proactive in knowing and following regulatory standards, you not only reduce risks but also provide the groundwork for a trustworthy and sustainable corporate environment. This thoroughness builds trust among stakeholders and improves the overall reputation and longevity of your organization.

Business Plan Development

firm plan development is an essential procedure for directing a firm to success. It requires meticulously constructing a roadmap including strategic goals and operational milestones.

Beyond just establishing corporate objectives, it entails developing complex marketing plans and realistic financial predictions. A thorough business plan provides a framework for informed decision-making and effective resource allocation, promoting organizational development and sustainability.

By thoroughly describing the processes required to achieve objectives and manage potential difficulties, stakeholders are given clarity and direction.

In essence, it is more than simply a document; it is a dynamic tool that adjusts to changing market conditions, allowing organizations to negotiate complexity with confidence and agility.

Innotech Role in Mobile Accessories Business

Innotech Advanced Machine Pvt Ltd is spearheading the mobile accessories business in India. Renowned for their premium-quality products at affordable prices, they specialize in mobile accessories manufacturing including Data Cables, Neckbands, Chargers, Power Banks, Smart Watches, Bluetooth Speakers, OTG, and Hands-Free etc.

With a commitment to elevating everyday technology experiences, Innotech stands out for its ability to customize products according to individual brands (make in your brand) and preferences.

By prioritizing quality while maintaining cost-effectiveness, they ensure that consumers receive top-notch accessories without breaking the bank. Innotech’s dedication to innovation and customer satisfaction has propelled them to the forefront of the industry, making them a trusted choice for businesses and consumers alike seeking reliable and customizable mobile accessories.

Why choose Innotech?

Innotech stands out as a top choice for customers seeking innovative solutions due to several key factors. First and foremost, the company prides itself on its innovative designs, constantly pushing the boundaries to create cutting-edge products that meet the evolving needs of consumers.

With a wide range of offerings across various industries, Innotech ensures that customers can find the perfect solution to fit their requirements. Moreover, customer satisfaction is a top priority, with the company striving to exceed expectations at every turn.

This commitment to excellence is further underscored by the unparalleled quality of their products, backed by rigorous quality assurance processes. Drawing on years of industry expertise, Innotech delivers reliable solutions that customers can trust. Additionally, the company offers customization options, allowing clients to tailor products to their specific needs.

Behind every innovation is a dedicated research and development team, continuously exploring new technologies and techniques to drive progress and stay ahead of the competition. With Innotech, customers can be confident that they are choosing a partner committed to delivering superior solutions backed by innovation, quality, and expertise.

Financial Planning and Budgeting

Financial planning and budgeting are critical components in optimal resource allocation and preserving long-term budgetary stability. Effective financial planning includes accurate budgeting, strategic cash flow management, and a thorough risk assessment.

Using a variety of financial tools and data allows organizations to make educated decisions and navigate financial challenges with ease. Organizations that plan and budget rigorously may foresee future financial demands, effectively manage resources, and reduce possible hazards.

This proactive strategy not only improves financial performance but also builds resilience in the face of economic volatility. Finally, effective financial planning and budgeting are critical for attaining long-term growth and remaining competitive in today’s dynamic company environment.

Supplier Sourcing and Inventory Management

Supplier sourcing and inventory management are essential components of effective corporate operations. Establishing reliable suppliers and implementing good inventory management systems are critical for ensuring seamless processes.

Supplier sourcing requires doing a thorough examination of possible suppliers, taking into account aspects such as dependability, quality, and cost, to guarantee the greatest fit for the company’s needs. Furthermore, deploying advanced inventory management systems enables organizations to optimize inventory levels, reduce stockouts, and improve logistical procedures.

Organizations may simplify their supply chains, lower costs, and improve overall operational efficiency by obtaining dependable suppliers and managing inventory management. This strategic approach not only promotes easier operations but also allows firms to successfully answer client expectations, thus improving their market position and encouraging long-term viability.

Setting Up Distribution Channels

Creating strong distribution channels is crucial for reaching target customers and increasing market penetration. Diversifying distribution channels, from online platforms to traditional retail shops, broadens market reach and increases brand recognition.

Companies that form strategic agreements with distributors and retailers can streamline product distribution and accelerate market growth. These collaborations provide organizations with seamless access to varied customer groups, allowing them to capitalize on emerging possibilities and strengthen their competitive advantage.

Effective distribution channel architecture not only increases sales potential but also promotes long-term sustainability by creating a firm presence in multiple market sectors, paving the path for further development and success.

You may also like: Innotech Impels Quality Control – Foresees Manufacturing Scope 

Branding and Marketing

In today’s competitive marketplace, the symbiotic link between branding and marketing is critical in determining a company’s success path. Creating a fascinating brand identity is more than just creating a logo; it also entails crafting a story that captures the hearts and minds of the intended audience.

This requires painstaking attention to detail, from creating a distinctive visual identity to establishing the brand’s tone and attitude. At the same time, marketing acts as the motor that moves the brand forward, reaching and engaging consumers in a variety of ways.

From utilizing the power of social media platforms to executing memorable experiential initiatives, good marketing seeks to establish real connections between the brand and its target audience, encouraging loyalty and driving acquisition in the process.

Customer Service and After-Sales Support

Providing excellent customer service and after-sales assistance is critical for establishing and sustaining strong client loyalty and satisfaction. This means going above and above to respond to client queries and concerns, as well as promptly resolving any difficulties or complaints they may have.

Furthermore, providing comprehensive warranty coverage and rapid repair services displays a commitment to guaranteeing client pleasure beyond the initial purchase.

Businesses that prioritize the complete customer experience may build long-term connections with their customers while also improving their brand reputation in a competitive market setting. Finally, investing in outstanding customer service pays off by building trust, loyalty, and good word-of-mouth referrals, resulting in long-term success and development for the business.

You may also like: Top Mobile Phone Accessory Dealers In Rajkot | Mobile Accessories Manufacturer

Scaling and Expansion

As organizations evolve and expand, properly scaling operations is critical for sustaining pace and capitalizing on growth opportunities.

Scaling involves not just increasing operational capacity, but also broadening product portfolios and entering new markets. The goal is to guarantee that this expansion occurs while maintaining operational efficiency and profitability. Businesses may successfully traverse the hurdles of growing by establishing efficient procedures, employing technology, and optimizing resource allocation.

Maintaining growth trajectories, requires intelligent decision-making, proactive resource management, and a strong emphasis on client demands. Finally, successful scaling allows firms to seize new possibilities and strengthen their position in competitive landscapes, resulting in long-term success.

In conclusion, the mobile accessories market in India offers immense opportunities for growth and innovation. By embracing a strategic approach encompassing market research, customer-centricity, and operational excellence, businesses can thrive in this dynamic landscape. Navigating through regulatory complexities, leveraging technology, and prioritizing customer experience are key pillars of success in this burgeoning market.

Innotech Impels quality control – Foresees manufacturing scope 

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Mobiles & Accessories startups in India

1 . Lava International

Key facts about lava international.

• Founded Year : 2009
• Location : Noida (India)
• Stage : Series B
• Funding : $165M
• Investors : Brand Capital , Demtech and  37 Others
• Tracxn Score : 69 /100  What is this?
• Competitors Rank : 4 of 92 Competitors

2 . Tecno Mobile

Key facts about tecno mobile.

• Founded Year : 2006
• Location : India
• Stage : Unfunded
• Tracxn Score : 55 /100  What is this?
• Competitors Rank : 6 of 92 Competitors

3 . Boult Audio

Key facts about boult audio.

• Founded Year : 2017
• Location : Delhi (India)
• Tracxn Score : 53 /100  What is this?
• Competitors Rank : 1 of 24 Competitors

Key facts about Sony

• Founded Year : 1994
• Location : New Delhi (India)
• Stage : Funding Raised
• Investors : BW Ventures and  1 Other
• Tracxn Score : 51 /100  What is this?
• Competitors Rank : 8 of 168 Competitors

5 . Swipe Technologies

Key facts about swipe technologies.

• Founded Year : 2012
• Location : Pune (India)
• Stage : Series A
• Funding : $4.96M
• Investors : Kalaari Capital and  1 Other
• Tracxn Score : 47 /100  What is this?
• Competitors Rank : 8 of 79 Competitors

6 . CREO Tech

Key facts about creo tech.

• Founded Year : 2013
• Location : Bengaluru (India)
• Stage : Acqui-Hired
• Funding : $5.04M
• Investors : Sequoia Capital , Beenext and  8 Others
• Tracxn Score : 46 /100  What is this?
• Competitors Rank : 14 of 143 Competitors

Key facts about Realme

• Founded Year : 2018
• Location : Gurgaon (India)
• Competitors Rank : 11 of 92 Competitors

Key facts about PTron

• Founded Year : 2004
• Location : Hyderabad (India)
• Competitors Rank : 11 of 168 Competitors

9 . Celkon Mobiles

Key facts about celkon mobiles.

• Tracxn Score : 44 /100  What is this?
• Competitors Rank : 18 of 143 Competitors

Key facts about Ubon

• Founded Year : 1999
• Tracxn Score : 41 /100  What is this?
• Competitors Rank : 2 of 73 Competitors

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Top 10 Best Mobile Accessories Brands In India In 2023

In the modern world, mobile phones have become a necessity, and as their use increases, so will the need for their accessories. People are unable to survive for even a moment without them since they have become an essential component of our existence.  Several accessories are needed for mobile phones in order to boost performance and provide protection. This thereby creates a doorway for a significant business opportunity.

Since most people’s digital lives revolve around their phones, getting the best phone accessories is almost as important as picking the best phone. There is a sea of options to get lost in after you’ve decided that you want or desire a new phone accessory, whether it’s a battery pack, a fast charger, a gaming controller, or whatever else has caught your attention.

The most expensive option isn’t usually the best, but neither is picking the cheapest. As more individuals switch to wireless technology, there are challenges. For instance, some retailers provide no warranty on low-quality products, which at first appeals to customers but quickly loses its appeal. Even the word “mobile accessories” is made up of two words. The term “accessories” refers to items that, when added, can make the original item more useful.

The term “mobile accessories” refers to any equipment that may be added to a mobile device in order to expand its functionality. The term “mobile accessories” refers to items like chargers, earbuds, Bluetooth speakers, selfie sticks, camera lens adapters, etc. Mobile accessories come in a wide variety. Relating to rising usage and demand for mobile phones. The market for mobile accessories has grown significantly as well.

In-demand product firms typically attempt to include chargers, earphones, power banks, headphones, fit bands, smartwatches, elegant back coverings, earbuds, speakers, protections, and dongles among the newest accessories because of the trend toward wireless and ease. Fast networking speeds, wireless connectivity, ease of use, practicality, and stylish features are continually in demand and will continue to sustain and grow the accessory market.

The rise of high-tech development is the result of significant investments made by several businesses. The best brands are under fierce competition, and these businesses are receiving a lot of investment. Mobile accessories are becoming increasingly popular as more smartphones are produced and people become more fascinated by technological advancements. People will go above and beyond to keep their phones safe, fashionable, and stylish. This has evolved into the industry’s driving force for mobile accessories.

Different Mobile Accessory Types

The following is a list of mobile accessories.

• Cases/Covers
• Earphones (wired or wireless) 
• Lenses for phone cameras and smart flash
• Headphones (wired or wireless)
• Tempered glass for mobile screens
• Posing stick
• Lamination of mobile screens
• Chargers and batteries
• Electric brick
• Cable Bluetooth
• Battery pack
• Brick for car charging
• Wireless speaker

Basics of Mobile Accessories Startups

It is not difficult to plan a startup for mobile accessories. Additionally, it’s not a big deal to get your startup off to a strong start. The real talent, though, lies in keeping them there, if not even getting better. The most crucial things for a mobile accessories startup to be aware of are our market study, location selection, fund gathering, business model development , finishing the legal processes, keeping an eye out for different parts and their suppliers, and inventory management.

To simply start a firm, all these requirements must be met. The most crucial factor when deciding where to keep a corporation is its funding or source of capital. Not all startups make money right away; some struggle along the way before finally becoming successful. In the examples of mobile accessory firms that we’ll talk about, some had an easy road to success while others struggled.

The Market For Mobile Accessories in India

Customers frequently utilize external batteries, USB cables, mobile cases and covers, chargers, and earbuds as mobile accessories. The distinctiveness of the distribution channels gives the market’s players a competitive edge. It is made up of a variety of national, local, and small-scale distributors. To reach a large consumer base, producers can market their goods through one or many retailers and distribution partners. The mobile accessories market in India is anticipated to reach INR 252.80 Bn by 2023 as a result of the significant increase in the adoption of smartphones and tablets.

Power banks are becoming more popular among Indian consumers as portable charging solutions. These gadgets serve the same purpose as high-capacity batteries and turbochargers. The youth, who spend a lot of money on large-display smartphones, are slowly becoming more and more interested in various types of device stands and holders. Currently, low-cost imports dominate the Indian market for smartphone accessories. These goods are primarily offered through neighbourhood shops, supporting the market for less expensive mobile accessories. As a result, the market for branded products is being hampered by unbranded grey market offerings.

List Of The Top 10 Best Mobile Accessories Brands In India In 2023

One of the world’s biggest smartphone markets in India . The demand for smartphone accessories has increased more than ever due to advancements in technology and market demand. We have included a list of the Top 10 mobile accessory brands in India to assist you in making the best choice from the vast selection.

In Asia, Xiaomi Corporation—often referred to as Xiaomi Inc.—is a Chinese manufacturer and designer of consumer electronics, related software, home appliances, and other goods for the home. additionally to mobile phones. Along with camera protection, quick chargers, and wireless chargers, Xiaomi also produces protective cases, covers, glasses, and foils.

Lei Jun, a modern multi-billionaire, launched Xiaomi in Beijing in 2010 at the age of 40. He was joined by six senior partners. In India, which has only experienced growth year over year, Xiaomi mobiles have also become very popular. Xiaomi maintains its leading position with ongoing optimization and improvements, as well as marketing at competitive rates.

A new smartphone company called Realme is committed to offering devices with excellent performance, chic looks, and sincere services. They started making accessories like headphones, phone cases, and chargers in addition to smartphones. There is a large following for this mid-segment mobile phone and accessory industry. It is also slowly starting to compete with premium brands like Oppo and Vivo, say well-known internet blogs. Realme is giving these market leaders a run for their money with its reliable product range, innovative designs, and unmatched performance.

BoAt is a lifestyle company that specializes in modern consumer electronics and was established in 2016. It offers a high-quality product line with a variety of speakers, earbuds, headphones, portable chargers, and opulent cables.

The brand became well-known while riding the Nirvana waves in the audio electronics sector. BoAt refers to its brand ambassadors as “BoAtheads.” Indian musicians Neha Kakkar and rapper Naved Shaikh (also known as Naezy), as well as athletes like cricketers Hardik Pandya and Shreyas Iyer, are just a few of the brand’s influencers. Additionally, BoAt has co-branded its audio products with significant occasions like the Lakmé Fashion Week as well as music festivals like Sunburn.

Shree Sant Kripa Appliances Pvt. Ltd., the principal enterprise of the SSK Group , was founded in 1989. Due to the SSK Group’s pursuit of excellence over the past 20 years, it has become a force to be reckoned with in a number of industries. Syska Accessories was developed after considerable study and innovation with the goal of serving the growing mobile phone industry in India.

The purpose of Syska Accessories is to enhance the lives of individuals who utilize them. They have undergone quality control testing, feature attractive designs, and are strong and durable. Syska Accessories are made-to-order products with extensive research and innovation for the expanding mobile phone user base. Power banks, speakers, and headphones from Syska Accessories have aesthetically pleasing designs and are durable, dependable, and of high quality.

In 1891, Frederik Philips founded Philips & Company. Although the present location of the Benelux headquarters is in Eindhoven, Amsterdam has served as the organization’s primary headquarters since 1997. Philips used to be one of the top electronics manufacturers in the world.

Philips has been associated with innovation and service for almost a century. They have improved people’s lives with a steady stream of ground-breaking innovations for more than 130 years. The well-known electronics manufacturer Phillips also produces cables, phone and tablet mounts, power banks, and phone chargers.

Mivi is a 2016 startup in the audio electronics industry. The names of the company’s co-founders, Midhula Devabhaktuni and Viswanadh Kandula, are the source of the name Mivi. Mivi is a direct-to-consumer brand that manufactures and designs all of its items in India in accordance with customer requests. They have a team of more than 850 people.

Mivi offers a variety of accessories including cables, chargers, custom and designer cases, tempered glass, power banks, car accessories, and audio equipment like earbuds and headphones. An Rs. 3.5 crore initial investment was made by the company. They produce trustworthy and affordable accessories that are beautiful and functional because they have the expertise and knowledge of Indian clients.

Portronics entered the market for the first time in 2010 and changed the Consumer Electronics Space’s proportions. They have been at the forefront of revolutionizing the portable and innovative technology that has dominated the Indian scene with more than 1600+ successful product launches and advancements.

Portronics pioneered the idea of using Indian technology in portable Bluetooth speakers, earphones, vehicle accessories, hubs & cables, power banks, and other gadgets. Additionally, Portronics has garnered numerous honours over the past ten years. They have raised digital standards in only a few short years by selling more than 10 million products. The mobility and inventiveness of these devices are outstanding. They are specialized devices that meet the needs of every user.

Given that the brand offers the highest-quality, most innovative products, they concentrate their efforts on using distinctive designs, reliable high-quality components, and robust but stylish exteriors. The goal of the company is to transform objects from being mere machines into satisfying living experiences.

Samsung began the electronics industry in the late 1960s. No introduction is necessary for this South Korean electronics and computing giant. They routinely produce some of the best smartphones available, and they have a cult-like fanbase. They are a company that values variety and sells products in a number of areas, including home accessories, telephone, computer, and smartphone accessories.

By releasing products online on Amazon and other offline retail sites, the company has revived its growth by creating demand for its products before they are launched. For all Samsung mobile phone models, they are selling genuine accessories such as back covers, toughened glass, mobile pouches, power bank kits, headphones, headsets, Bluetooth headsets, mobile chargers, charger cables, data cables, and more.

iBall is an established business. 2001 marked the start of it. But at the time, the only thing available from iBall was a mouse. IBall gained popularity over time and entered new areas, including the mobile industry. iBall soon rose to popularity in the mobile sector, where it was known for manufacturing and offering mobile devices as well as related accessories. Mobile accessories from iBall include speakers, Bluetooth devices, wireless earbuds, and more.

In May 2016, iBall and Intel announced a strategic alliance, and Microsoft claimed to have introduced the iBall CompBook, India’s most affordable Windows 10 laptop, at a price of $9,999. The MEA Award for Innovative Use of Ambient Media was given to iBall in 2020. Through its 5000 trading partners, 1,000,000 active shops, and 500+ support centres, iBall has reached over 100 million users. With online and contemporary shopping, iBall now aims to appeal to India’s intelligent and tech-savvy consumers. The new Indian, who is knowledgeable, inventive, and motivated, is addressed by iBall 2.0. They are of I generation.

Ambrane is a domestic electronics company that was established in 2012 with the intention of offering smart electrical products. They started their journey with the Power Bank, which has since evolved into the brand’s signature item and identity. They contributed to “Make in India” by being the first company to make power banks in India, which was a significant accomplishment.

With a wide range of items in their portfolio, including mobile accessories, audio, personal care and grooming products, and other smart devices, they have expanded significantly over the years and now have a strong national presence. Additionally, they have over 15 million satisfied consumers and have become one of the top Indian companies on e-commerce platforms like Amazon and Flipkart.

Growing significance of mobile phone accessories

These days, it’s hard to locate someone without a cell phone. Because the telecom industry has been liberalized in the majority of the world’s nations, cell phone use has increased while maintenance costs have decreased. The last five years have seen significant money created by the cell phone business. In all the nations, there are numerous mobile service providers who have established successful businesses for themselves.

One more concern has recently gained attention. It concerns both the security of mobile phone equipment and the security of its users. Purchasing cell phone accessories is primarily done for safety reasons. Additionally, they help you get the most of your smartphone. It might function better and perhaps appear better after the installation of these extras. By including the appropriate attachments for your needs, you can even use your smartphone as a flexible device.

How the Indian Market for Mobile Phone Accessories Is Growing

Over the forecast period, of 2017–2024, it is anticipated that the Indian mobile accessory market will grow at a CAGR of 10.5%. In 2016, the market for mobile phone accessories was valued at USD 1.42 billion, and by the end of 2024, it is expected to generate USD 3.54 billion.

Over the course of the forecast period, factors including an ageing population are expected to fuel the expansion of the Indian market for mobile phone accessories. According to Arvind Singhal, head of retail consulting firm Technopak, “the industry presents enormous prospects to manufacturers due to the vast number of mobile device users and strong growth in adoption of smartphones and tablets.”

Increase in the Number of Stores, Both Online and Offline

The rise of the Indian mobile accessories market is expected to be accelerated by factors including the presence of a strong distribution network, including multi-brand stores and online retailers of mobile phones and accessories. The drop in average selling price has also attracted a sizable number of customers from the middle-class and lower-income groups to purchase mobile phone accessories. The top five revenue-generating products are, in descending order, memory cards, screen protectors, mobile covers and cases, power banks, and chargers.

Rapid Urbanization Growth

The need for better mobile phone accessories, such as high-end earphones and headphones, is rising as a result of India’s growing urban population. Furthermore, it is anticipated that the market for accessories would develop greatly due to the increased migration of rural residents to metropolitan areas.

Increase in Disposable Income

Mobile accessory producers now have more options to enter the market thanks to the increasing use of mobile phones. The increase in disposable income has completely changed how customers shop and spend. Consumers’ shifting perspectives are fueling a surge in demand for stylish smartphone accessories.

Increase in the Use of Wireless Smart Accessories

With the development of technology , a number of characteristics have been added, including AI and IoT, which enable hyperconnectivity and intelligence in electronic gadgets. This encourages the usage of wireless mobile devices like smart wearables, speakers, headsets, and earphones, among others.

Furthermore, the industry for mobile phone accessories is growing as a result of developments in the field of smart wireless mobile accessories. For instance, Alexa, an AI system built into the Echo Show 5 display speakers, was introduced by Amazon. Additionally, the market for mobile phone accessories is growing due to the increased usage of smart wearables for health monitoring, such as fitness bands.

Increase in the Use of Smartphones

Mobile phones’ rapid technological advancement in the twenty-first century has led to their widespread use as a utility for routine chores like alarms, task reminders, remote appliance control, and others. Additionally, applications that explore entertainment and media functionalities like big touch displays, speakers, simple volume controls, voice control intelligence, and other features offer value to the market. As a result, to a significant extent, cell phones have replaced laptops, cameras, wristwatches, and other equipment.

Additionally, features like handsfree and others create a demand for headsets and headphones, pushing the user to purchase these mobile accessories. The brittle design and screen of mobile phones also encourage customers to buy screen protectors and protective cases. In order to draw customers, these protective items are produced with attention to both design and quality. As a result, the market for mobile phone accessories is also growing as smartphone adoption rises.

Hurdles in the Way

Products that are pirated: The market for mobile phone accessories is predicted to suffer from the growing danger of piracy. When compared to products made by big manufacturers, the materials utilized in pirated goods are of lower quality. However, since counterfeit goods are sold for a small fraction of the cost of genuine goods, customers in developing nations like China and India favour the former over the latter.

Lack of Standardization: Lack of Standardization is predicted to impede the growth of the global market for mobile phone accessories. According to experts, the components and technologies used to manufacture mobile accessories are not properly standardized. Market standards that are not clear cause significant pricing and product differentiation.

Future Perspective

The market for mobile accessories in India is anticipated to expand more rapidly over the next few years as a result of the significant increase in the adoption of smartphones and tablets. The distinctiveness of the distribution channels gives the market’s players a competitive edge. It is made up of a variety of national, local, and small-scale distributors. The producers want to reach a sizable client base in the near future by marketing their goods through one or more retailers and distribution partners.

More and more of our daily activities depend on our smartphones. Many more items and devices have been replaced by these small electronics. From calculators to cameras and everything in between, we can almost do everything on our phones. Even while nothing is perfect, the market for phone accessories is always growing, making up for any shortcomings.

Finding the Best Mobile Accessories for it is essential because the phone serves as the majority of people’s digital universe’s hub. The number of alternatives available once you’ve determined you need or want a phone accessory—whether it’s a new battery pack, a fast charger, a gaming controller, or anything else you find appealing—can be daunting at first. Here are a few of our favourite resources that you might also find helpful.

edited and proofread by nikita sharma

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Is Indian Government Giving Time To Indians To Shift Their Black...

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Mobile Repairing Business Plan [Investment, How to Start]

Investment, how to choose location and more.

The mobile phone industry in India (also in the world) is growing very fast; for a country like India, this means a large base of cell phone users across all cities, towns, and rural areas.

The industry is characterised by intense competition; this (competition) results in making the product technologically advanced and relatively cheaper. The growth of the internet and social media is further fuelling the purchase of smartphones. All these factors combine to create a good scope for a mobile repairing business .

People sometimes refer to the business to convert an idea into a product or a service by managing several resources. The most critical resource (to start a firm) is finance (or capital). Therefore, let us review at the outset how much money may be required for a mobile phone repair- business startup . Your investment is dependent on the scale you wish to begin, whether it is a full-fledged brick and mortar startup or a business from home setup. But, quality of service common to both will be the differentiator (with other repair shops).

Mobile Repairing Business: Investment

Cell phone repair business from home is a low investment affair since your expenditures are mainly for a few essential spares, promotion, tools & equipment and furniture. You can start with funding in the range of Rs 1 lakh to Rs. 1.25 Lakhs. However, as a qualified technician, it is assumed that you will handle the entire repair work.

However, a good mobile repair business will require detailed planning and background work before launching it.

What are the components of investment?

1) Shop (rental / leased) 2) Furniture 3) Equipment & tools 4) Spare parts 5) Employee/s 6) Promotion of the business (both online and offline channels).

The estimated investment for a store (200 sq. ft) is around Rs. 5 to 7 Lakhs, considering its location as a mid-market residential area. In the case of a shopping mall or a high profile marketplace, the quantum of investment will go up.

Once you have an idea of your mobile repair startup's funds requirement, it is time to review your entire mobile repair shop business plan to give it a final shape. What are the other parameters to consider for your business?

Mobile repair business: Other parameters

1. location:.

A critical feature for your shop; recommended size is around 200 sq. ft; the shop must have straightforward accessibility for your customers and is easily reachable for both residential and commercial clients. A location near a large residential area can give you a favourable word of mouth fast if your service is satisfactory.

2. Licences & Permits:

A trade license issued by the local authorities (corporation/municipality ) is the first requirement after you have settled on the location; a separate bank account for your business is another; GST and other registrations as applicable.

3. Employees:

It makes business sense to keep overheads low initially, but a proper service facility must have a minimum of two technicians. If you are qualified and trained to do the job, hire one more technician.

The emphasis during selection should focus on expertise with various models and exposure to direct customer handling.

4. Inventory and other systems:

The ready availability of spares is a crucial factor for the success of your mobile repairing business . Considering the number of items involved, investing in software to manage stocks scientifically makes sense. A proper labelling system of physical stocks will help in quick retrieval.

Your shop should operate a suitable software managed invoicing, receipts and accounts. It will not only reduce the workload but will add to your reputation and image.

Also Read: Mobile Brands in India

5. Equipment and furniture:

Testing and quality checking tools/equipment are a necessary investment and must be done under expert advice and guidance.

The purpose of the shop furniture should be to facilitate easy working and customer handling. A proper ambience even within a limited space should be created.

6. Promoting your business:

With the facility in place, you now need to focus on attracting customers. You have to use both offline and online promotion.

Poster/handbills/display at local events are the usual channels of local promotion. You can use digital tools to identify your potential customer profile and work out an online strategy to reach them.

Launching your website is a top priority since the younger generation will use Google (> phone repair shop near me ) to find a phone repair shop.

Besides, you must be on social media both in terms of announcement and interaction with potential customers. Spending on promotion from day one is a need today and should be considered as a necessary investment.

Digital marketing has come as a boon to small businesses, and one must use it professionally to generate a brand image for your shop in a cost-effective way.

You have a fair idea now on how to start a phone repair business . Let us focus our attention on a few tips and suggestions.

Mobile repair startup: Tips for growth

1. quality focus:.

Only a satisfied customer will come back and recommend it to others. Quality should reflect in everything, from the skill of your technical hands to the spares used. Time (of servicing) is an essential parameter for the client, and you must give proper attention.

2. Building trust:

Trust-building takes time- but the process must begin at the earliest. Communicate your policy on confidentiality to customers. Your invoices can have a by-line on the same. In today's scenario, a bundle of personal data is stored on the phone; people may be apprehensive of data safety during servicing.

Maintaining a delivery schedule is another crucial factor in creating trust. In case you are unable to handle a particular repair due to spares unavailability, not familiar with the model, or any other reason, it is better to turn down the business politely at the first instance.

3. Additional revenue items

1. Support services: With phones getting feature-rich, everyone is not comfortable with several phone functions. You can start a service of guiding phone users on how best to maximise a phone's utility. You may help them to download utility apps and shortcuts for using social media. Members of the older generation will find this service particularly helpful.

You can plan to become an authorised support associate for some of the leading brands (for your shop's neighbourhood area) for assisting people with first time- use and setup. With growing e-commerce, online purchases of phones are increasing rapidly.

2. Selling other items : You can supplement your revenue by offering mobile phone accessories, phone covers/cases, storage devices and more.

Your cell phone repair business's success will depend entirely on how much value you create for your customers. The quality of your service and customer relations are the main pillars of your business- it is upon you to decide on the number of storeys you wish to build.

Stay updated with new business ideas & business tips with OkCredit blogs in English, Hindi, Malayalam, Marathi & more! Download OkCredit now & get rid of your bookkeeping hassles. OkCredit is 100% Made in India.

Q. I have a mobile repair shop. My monthly sale is around Rs. 2 Lakhs. How will I benefit from investing in systems?

Ans. Technology helps to save both direct and indirect costs; inventory software will allow you to better manage your spares stocks by alerting you on critical levels. Similarly, accounting software can help you track outstanding, inform you on the due date of supplier payments and keep your records updated.

A computerised invoice will also improve the credibility of your shop. Several online fintech companies offer low-cost software for small businesses. OkCredit is a reliable company in this field with a large base of users.

Q. Some customers are asking me to sell used phones. Will it help my revenues?

Ans. Used phones may give you some additional business, but from a long term perspective, you will find it challenging to sell new phones or even new accessories as customers will brand you as a used phone seller.

Q. How profitable can be a cell phone repair business?

Ans. It depends on factors like quality of service, the reputation of the shop, overheads. But in general, you can easily make a margin of over Rs 30000 in a city location with a proper multi-brand repair shop.

Read the best of business ideas, tips for small businesses, the latest update on technology & more by OkCredit.

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Mobile accessories business in India

• Post published: March 8, 2023
• Post last modified: March 8, 2023
• Post author: Amandeep Bansal
• Post category: Business Suggetions / Mobile
• Post comments: 0 Comments

A Booming Industry for Indian Business Owners

Mobile accessories are an essential part of the mobile phone ecosystem. With the rise of smartphones, the demand for mobile accessories has skyrocketed in India. The mobile accessories market in India is expected to grow to over $3 billion by 2025, according to a report by RedSeer Consulting. This growth is due to the increasing adoption of smartphones, the availability of affordable accessories, and the rise of e-commerce platforms.

Starting a mobile accessories business in India can be a lucrative venture for Indian business owners. In this blog, we’ll discuss some of the key factors to consider when starting a mobile accessories business in India.

Market Research

Before starting any business, it’s crucial to conduct market research to understand the demand and competition in the market. Indian business owners should research the most popular mobile accessories in India, as well as their price range and availability. This research can be done by visiting local mobile phone stores, online marketplaces, and conducting surveys.

Product Selection

After conducting market research, Indian business owners can decide which mobile accessories to sell. Some of the most popular mobile accessories in India include phone cases, screen protectors, chargers, power banks, earphones, and headphones. It’s important to choose products that are high in demand and have a good profit margin.

Supplier Selection

Choosing the right supplier is crucial for the success of a mobile accessories business in India. Indian business owners should look for suppliers who offer high-quality products at competitive prices. They should also consider the supplier’s delivery time, payment terms, and after-sales service. Some of the popular mobile accessories suppliers in India are Alibaba, Indiamart, and TradeIndia.

E-commerce Platforms

E-commerce platforms have revolutionized the mobile accessories industry in India. These platforms offer Indian business owners the opportunity to reach a wider audience and sell their products online. Some of the popular e-commerce platforms in India are Amazon, Flipkart, and Snapdeal. Indian business owners can list their products on these platforms and take advantage of their marketing and logistics services.

Offline Retail

Offline retail is still an important aspect of the mobile accessories business in India. Indian business owners can open their own retail stores or partner with existing mobile phone stores to sell their products.

India is one of the fastest-growing economies in the world, with a burgeoning middle class and a high smartphone penetration rate. This has led to a significant increase in demand for mobile accessories in India, creating a thriving industry with a range of products and businesses catering to this market. In this blog, we will discuss the mobile accessories business in India, its potential, and how businesses can capitalize on this growing market.

Mobile accessories refer to the products that complement and enhance the functionality of a mobile device. These include protective cases, screen protectors, chargers, power banks, earphones, and other peripherals. The mobile accessories market in India is estimated to be worth over $4 billion and is expected to grow at a CAGR of 10.4% between 2021 and 2026.

The mobile accessories market in India is driven by several factors, including the increasing number of smartphone users, the rise in disposable income, and the growing e-commerce sector. With the government’s push for digitalization and the increasing popularity of online shopping, more and more Indians are purchasing smartphones, and consequently, mobile accessories.

To start a mobile accessories business in India, there are a few things to consider. Firstly, it is essential to identify the target market and the products that are in demand. This requires conducting market research to understand the preferences and buying behavior of Indian consumers. For example, wireless earphones and power banks are two of the most popular mobile accessories in India, and businesses can capitalize on this trend by offering a range of products in this category.

Secondly, businesses must establish a strong online presence to reach customers effectively. This can be achieved through e-commerce platforms such as Amazon, Flipkart, and Snapdeal, which have a vast reach in India. It is also essential to invest in SEO and digital marketing to ensure that the business ranks high on search engines and reaches its target audience.

Thirdly, businesses must ensure that they offer high-quality products at competitive prices. With the rise in competition in the mobile accessories market, customers are becoming increasingly discerning, and businesses must offer products that are durable and provide value for money.

Finally, businesses must stay up-to-date with the latest trends and technology in the mobile accessories market. With new products and innovations being introduced regularly, businesses must stay ahead of the curve to remain relevant and competitive.

• Growing Market: The mobile accessories business in India is a growing market with a large customer base due to the increasing number of smartphone users.
• High Demand: With the increasing popularity of smartphones, the demand for mobile accessories such as chargers, earphones, power banks, and protective cases is also increasing.
• Low Entry Barriers: The mobile accessories business has low entry barriers, making it easy for entrepreneurs to start a business with a relatively small investment.
• E-commerce Platforms: E-commerce platforms such as Amazon, Flipkart, and Snapdeal have a vast reach in India, providing businesses with the opportunity to reach a large customer base.
• Digitalization: The Indian government’s push for digitalization has created a favorable environment for businesses in the mobile market.
• High Competition: The mobile accessories market in India is highly competitive, making it challenging for businesses to differentiate themselves from their competitors.
• Quality Concerns: Some customers in India may be price-sensitive, leading them to opt for cheaper, lower-quality products that may damage their mobile devices.
• Counterfeiting: The mobile accessories market in India is also plagued by counterfeit products, which can affect the reputation of legitimate businesses.
• Price Wars: With the increasing competition, some businesses may engage in price wars, leading to a decrease in profit margins.
• Dependency on Suppliers: Mobile accessories businesses are dependent on suppliers for their products, which can lead to supply chain disruptions and affect business operations.

In conclusion, the mobile accessories business in India offers significant opportunities for entrepreneurs and businesses. With a growing market and increasing demand for mobile accessories, businesses can capitalize on this trend by offering high-quality products at competitive prices, establishing a strong online presence, and staying up-to-date with the latest trends and technology. By doing so, businesses can carve out a niche in this thriving industry and succeed in the Indian business landscape. There are many brands selling mobile products on Greatofindia .

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Top things to know about Copilot+ PCs from Microsoft Surface, available today at Microsoft.com

• Microsoft Store Team

Available today, the all-new Copilot+ PCs from Microsoft Surface – Surface Laptop and Surface Pro – are thin, light and beautiful devices that help you do more of what you love. Whether it’s starting a new creative project, connecting with friends and family or pursuing a new business venture, these devices are designed to support your journey.

The new Surface Laptop and Surface Pro are Copilot+ PCs, which are the fastest, most intelligent Windows PCs on the market. They are available in four color options at an incredible value, beginning at $999 Estimated Retail Price (ERP) USD on Microsoft.com or at a Microsoft Experience Center .

Exclusively on Microsoft.com, customers can purchase Copilot+ PCs from Microsoft Surface with 64GB memory (RAM) configurations which offer more performance and multi-tasking:

• Surface Laptop (7 th Edition) , starting at $2,399.99 ERP USD in Black with a 13.8-inch Display, Snapdragon® X Elite (12 Core) Processor and 1TB SSD Storage.
• Surface Laptop (7 th Edition) , starting at $2,499.99 ERP in Black with a 15-inch Display, Snapdragon® X Elite (12 Core) Processor and 1TB SSD Storage.
• Surface Pro Essentials Bundle , starting at $1,144 ERP, get the most out of your Surface Pro with this bundle, saving on a Microsoft 365 subscription and Microsoft Complete Protection Plan. Plus, when purchasing the Essential Bundle, customers can take advantage of 20% off accessories including the new Surface Pro Flex Keyboard.

Read on for everything you need to know about the new Copilot+ PCs from Microsoft Surface.

Our three favorite things about the new Copilot+ PCs from Microsoft Surface: 1 – Designed for your everyday work and play

• Power through your day without a worry. The new Surface Laptop and Surface Pro are more powerful than ever with Snapdragon X Series Processors, providing faster performance and all-day battery life with a powerful Neural Processing Unit (NPU) for all-new AI experiences.
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• Everyday AI companion with the Copilot key. The Copilot app is just a click away with the Copilot key – one of the newest additions to Windows 11 keyboards on Copilot+ PCs.

2 – Exclusive AI experiences designed to empower creativity and productivity  

• Express your creativity with Cocreator [iii] . Whether a seasoned artist or new to design, Cocreator simplifies image creation and photo editing with easy text prompts and natural inking using a Slim Pen [iv] on Surface Pro or touch on Surface Laptop. Exclusive to Copilot+ PCs, Cocreator lets you bring your ideas to life, and it works alongside you to iteratively update the image in real time. Cocreator is available in Paint – the app you’ve grown to know and love.
• No matter where you are, Live Captions keeps you better connected [v] . Available on Windows, Live Captions can quickly translate any live or prerecorded audio into English – and in real time. Connecting with friends, family and colleagues just got easier, and you’ll never miss a beat when watching your favorite international movies or TV shows.
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• Recall (preview) coming soon: For the solo-preneur who has too many working files and emails to maintain organization, Recall helps you quickly find things you have seen on your PC, keeping all documents, images, websites, instant messages, emails and apps right at your fingertips. This experience comes with built-in privacy and security controls.

Learn how to unlock the best of the new AI-powered features on your Copilot+ PC .

3 – The all-new Surface Pro Flex Keyboard [vi] unlocks new levels of flexibility  

Alongside the new Surface Pro, we are introducing the Surface Pro Flex Keyboard , unlocking powerful new levels of flexibility to effortlessly adapt to your work and play routines. Ready to attach to your Pro for the ultimate laptop set-up or detach for more flexibility and to support your creative workflows. It is built with extra carbon fiber layers for stability and has a larger, customizable haptic touchpad. With integrated pen storage, your Slim Pen is secure, charged and ready to go. Accessibility remains core to our approach, so we designed the new Surface Pro Flex Keyboard with a bold keyset option to reduce eye strain and assist people with low vision.

Discover, learn and buy with Microsoft Store

Shopping at Microsoft Store is all about ease and convenience. Whether the new Copilot+ PCs from Microsoft Surface, Copilot Pro, Xbox consoles and games, apps, movies and TV shows, we’ve got you covered. Don’t miss our top deals on your favorite TV shows like Rick & Morty: Seasons 1-7, Buffy The Vampire Slayer Complete Series, Sons of Anarchy: The Complete Box Set and so much more – available for up to 50% off for a limited time .

• Flexible payment options : Find a payment plan that works for you with options like PayPal Pay Later and Citizens Pay Line of Credit [vii] . It’s budgeting made easy.
• Online Trade-in Program : For a limited time, buy a new Copilot+ PC from Microsoft Surface and get extra cash back when you trade in an eligible device.
• Free and fast shipping with 60-day returns : Get your items quickly with 2–3-day shipping at no extra cost or minimum purchase required and enjoy the flexibility of 60-day returns on almost any physical product.
• 60-day price protection : Shop with confidence knowing you have 60 days of price protection from your delivery date. If the price drops or you find a lower price elsewhere, we’ll honor a one-time price adjustment.

You can also bet on Microsoft Store offering lots of great deals throughout the upcoming back-to-school season. Be sure to keep an eye on the deals page !

Available alongside Microsoft Surface today, are brand new Copilot+ PCs from the biggest brands: Acer , ASUS , Dell , HP , Lenovo and Samsung . Learn more from major PC manufacturers or visit leading retailers, including Best Buy .

[i] Colors available on selected models only. Available colors, sizes, finishes and processors may vary by store, market and configuration. 

[ii] HDR requires HDR content and enabling HDR in device settings.

[iii] Microsoft account required.

[iv] Surface Slim Pen sold separately.

[v] Currently supports translation for video and audio subtitles into English from 40+ languages. See  https://aka.ms/copilotpluspcs . 

[vi] Surface Pro Flex Keyboard sold separately.

[vii] With approval of Citizens Pay Line of Credit at 0% APR and 12- or 18-month term. Subject to individual credit approval. See the Citizens Pay Line of Credit Agreement  for full terms and conditions. Citizens Pay Line of Credit Account offered by Citizens Bank, N.A. ​