How To Start A Phone  Accessory Selling Business In Nigeria

Starting a phone selling business in Nigeria can be a very lucrative venture. The phone selling business in Nigeria is booming due to the high demand for mobile phones.

Phone accessories are one of the major needs of our modern days youths and even the young and the old, the world have evolved and almost everybody uses an Android phone or most of all an internet enable phone, even when there is no money to buy another phone, people will always want to buy accessories for their phone to keep it updated, this has made the sales of phone accessories like charger, earpiece, screen-guard, power bank, charger and other stuff very LUCRATIVE expesially here in Nigeria

In 2021, Statista reported that smartphone vendors sold around 1.43 billion smartphones worldwide. They also made projections that show that the number could rise to 1.5 billion in 2022! Don't you want a slice of that cake?

The global mobile accessories market size was valued at USD 82.88 billion in 2021 and expanding at a compound annual growth rate (CAGR) of six point eight percent (6.8%) from 2022 to 2030. The mobile accessories market is expected to expand due to the increasing demand for smartphones as they are an effective means of communication around the globe. This is expected to drive the market in the forecast period.

Mobile phone accessories such as mobile cases, flip covers, strings, screen guards, SD cards (memory cards and chips), earphones and headphones, duplicate chargers and batteries, USB cables, etc. Look for a niche such as extra power, cases, photo tools, water protection, drop protection, on-the-road or wireless charging, and introduce a product or feature that isn’t already available. Newness sells

Furthermore, increasing demand for wireless devices, coupled with frequent changes in technologies, is expected to drive the market in the near future. For instance, companies are coming up with the latest technologies such as wireless headsets and speakers. This has boosted the market demand in recent times. Starting a phone accessories importation business in Nigeria can be a profitable venture, given the ever-growing demand for mobile devices and their accessories in the country.

To start a phone selling business in Nigeria, you should stock your shelves with phones and accessories. You can buy used phones from individuals or businesses. This is a cheaper option, but you will need to carefully inspect each phone to ensure it's in good working condition. You can buy refurbished phones from companies that specialize in selling refurbished electronics. This middle-of-the-road option gives you slightly lower prices than buying new phones but with more peace of mind than buying used ones. You can buy phones outright from wholesalers or manufacturers. This gives you the most control over your inventory.

Once you decide where to source your phones, you must figure out how many to buy. This will depend on your budget and how quickly you want to grow your business. If you have a limited budget, start with a smaller number of phones and gradually increase your inventory as your business grows.

How much does it cost to start a phone accessories business in Nigeria?

You can start a phone accessories business for as low as N50,000 Naira if the goal isn’t to sell from a shop but to sell on a mobile wheelbarrow or to sell online within your community of students or friends. But to start a phone accessories business that will require you to own a shop, you will need at least N250,000 Naira to be able to start a profitable phone accessories business.

Is phone accessories selling business profitable?

A phone accessories selling business is profitable, but success depends on ensuring a diverse product range, competitive pricing, and excellent customer service. It is also essential to carefully manage inventory and adapt to market conditions for long-term success.

Choose the right location for the business.

If you decide to have a physical store, it is essential to choose the right location. Foot traffic is a crucial factor to consider when choosing a location. You should ensure the business is in an area with a lot of foot traffic, such as a busy street or market. Other factors to consider when choosing a location include the following, The proximity to other businesses, The availability of parking, The security of the area.

Who is your target audience? What are their needs and wants? How can you reach them? Answering these questions will help you create a marketing strategy that will get results. To reach your target audience, consider using online and offline marketing channels. Offline channels could include print ads, T.V. commercials, or radio ads. Online channels could include social media, email marketing, or search engine optimization (SEO). Ensure your messaging is clear and concise regardless of the channels you use to market your business. Your goal is to generate interest in your products or services and get potential customers to take action. Finally, remember to track your results and fine-tune your marketing strategy. By regularly evaluating your performance, you'll be able to adjust your tactics as needed to continue achieving success.

Success in this phone accessories business depends on staying up-to-date with the latest smartphone models, trends, and consumer preferences, as well as offering a diverse and high-quality product selection to meet the needs of a broad customer base. It’s essential to provide excellent customer service, offer competitive pricing, and market products effectively to attract and retain customers in this competitive industry.

How to start a lucrative Phone accessories Business. This basic guide will equip you with the knowledge and information you need to acquire to start your own very successful Phone accessory business in Nigeria.

Click here to fill our application form:   https://forms.gle/jt7DaqkmobimT5PX8 

Our motivation is to see every Nigerian benefit from our Unique Income opportunity, specially focused towards a sustainable, entrepreneurial, and innovative future by connecting them to new ideas and skills Browse through our highly resource information over 500 Business ideas. https://www.facebook.com/share/188T881hZr/   This guide is designed to help business people including Micro, Small and Medium Scale Entrepreneurs navigate the legal and regulatory considerations relevant to starting-up and doing business in Nigeria.CLICK HERE Creating multiple streams of income can be a strong way to improve your personal finances. Whether you’re trying to boost your savings or build toward a goal, this is a move that many of the most financially successful Nigerians make.CLICKHERE