How to Start Your Own Mobile Phone Company
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Smart phones are taking increasingly higher shares of the mobile phone market, as they provide more applications and flexibility for personal and business use. BlackBerry, Android, iPhone, and other smart and messaging phones such as the Pantech Matrix are popular with mobile phone users.
Individuals wishing to open a retail establishment that caters to mobile phone users can find it lucrative.
Find mobile phone vendors. Go to local cell phone retailers and ask the manager or owner who supplies mobile phones. Most retailers are happy to assist a new entrepreneur. You can also contact manufacturers directly and ask what wholesalers are available in your area. Be sure to inquire about minimum opening orders and ask for a new retailer package.
- Smart phones are taking increasingly higher shares of the mobile phone market, as they provide more applications and flexibility for personal and business use.
- Go to local cell phone retailers and ask the manager or owner who supplies mobile phones.
Get your financing in place. Contact a professional business plan writer or accountant and have a business plan written to get your financing. Visit the Small Business Association's website and look for approved business-loan lenders. Because a small retail business does not need a large loan, look for a micro-loan lender. Micro loans are under £22,750 and are repayable over six years. Interest rates range from 8 to 13 per cent and require collateral as well as a personal guarantee.
Locate retail space. Ideal retail space should be in a high-traffic area and have sufficient parking. Consider leasing space in a shopping mall, rather than a traditional mall to save money, or look into leasing kiosk space. You'll want to have enough room to display your mobile phone devices and accessories, as well as room for inventory storage.
- Get your financing in place.
- Contact a professional business plan writer or accountant and have a business plan written to get your financing.
Register your mobile phone retail company. Visit your state's business development or secretary of state's office to file Articles of Incorporation, which you can write online at a legal documentation service, such as Legal Zoom and Legal Docs. These services also file your documentation.
File your DBA (doing business as) or fictitious name with the county or state. In some states, like Florida, DBA or fictitious names are filed on the state level, while in Texas, registration occurs within the county. Apply for an Employer Identification Number with the IRS and then you can open a business current account.
Owen Richason grew up working in his family's small contracting business. He later became an outplacement consultant, then a retail business consultant. Richason is a former personal finance and business writer for "Tampa Bay Business and Financier." He now writes for various publications, websites and blogs.