Mobile Phone Store Project Report

Description

You can download the mobile phone store project report and get every important detail about this business startup. You can now avail bank loan if you submit the well written project report to the banker. Thus, getting the project report with right format is important. As per national data, it is estimated that Indian had around 120 crore mobile subscribers in the country. Among them 750 million are smart phone users. This is the data of 2021; the data of 2022 is yet to update by the government. However, the consumers in the world are beyond imagination.

India is the world’s fastest growing mobile market in the world. This data tends to increase and won’t decrease. Thus, if you are planning to start a profitable business, you can choose to open a mobile store in your city. You will have to get information about the prerequisites of this business and of course, it is a small-scale business in India. You also need to consider the potential profit and adjust plans for good results I mean returns.

A mobile phone these days is more powerful than spaceships. As per NASA a mobile phone has better computing power than computers.

In order to begin a mobile store in India it is important to understand the currently mobile phone market in your city. Almost every household has a smart phone these days. Mobile is an ego and important part of our life. The reason for growing demand of mobile phone is that a person can use it in many ways. It is now used for capturing memories, studying, computing etc., rather than just talking. You can get more profit by starting the business of electronic repair as well as a mobile showroom; complete information about the electronic repair business is available on this website.

Mobile Phone Store Project Report

Mobile store project report is a document that contains all crucial details like financial requirement, location, space, investment, marketing, promotion and a lot more components. You can check out the information we have provided for you to start this venture and can also reach out to our experts who can write personalized project report for mobile store business for you. You just need to pay a nominal fee and we will do complete task for you.

Once a phone gets broken or lost, a human tends to fix it or buy another immediately. This situation brings huge earning opportunity for growing mobile business in India.  The cost of a smart phone is increasing due to its wide sage. It is even expensive than a computer. Cell phone merchants are experiencing rapid growth. To grow your business big and make it profitable a mobile shop can be opened. You can avail a rental location or get vendor agreements with big transporters.

One can do internet surfing and take facility of GPS in mobile phones. You can excel in this market if you will keep all budget mobile phones in your mobile stores. You can check out all important details about a mobile store in our project report. People will surely buy mobile phones from you because in their daily life, they are dependent on their phones.

An increase in the number of consumers for mobile phones has led to opening of more mobile phones in a city. People utilize their mobile phones to make purchases and web searches. The growing interest in this invention, it is the right time to start a mobile store in your city. A mobile phone startup is profitable and can generate your additional revenue as well.

How To Download Mobile Phone Store Project Report

You can now download mobile phone store project report PDF in a gist of time. You need to add the product to the cart and make online payment. Once you pay, you will get access to download the project report and you will also receive e-mail containing the download link using which you can download the project report of mobile phone business.

What is a mobile store business in India?

In a mobile store business, the entrepreneurs can sell not only new smart phones but also simple mobile phones and second hand phones as well. They can also start mobile repairing service, mobile accessories business and also sim cards selling etc. You can also start your recharge coupons from there and initiate with mobile recharge business as well. You are a good opportunity to start an electronic waste business and a mobile showroom. Complete information about the electronic waste business is also available on this website. 

Mobile Shop Business Scope in India

As per our research, there are around one billion 5 crore mobile phones that are being used in the country. In India every person has access to mobile phone, and this is changing the complete scenario of mobile industry. Thus, adding a wider scope to this business, we can say that it has a great scope in the Indian market so anyone who plans to start a mobile phone store in India can definitely get success in this start up.

Factors To Consider

Here is a checklist that you need to consider before you start your mobile phone store in India.

Timing is Important

When you launch your business, the right timing is important. It can lead you to make significant profits and make your venture successful in the initial phase only. To start a mobile phone shop in India you will have to arrange a minimal capital investment and should be ready to start in anywhere in your city.

You also need to develop an effective business plan for mobile store and understand the market as well. You will have to plan effective marketing strategy so that you can make your business successful. Ways to cope up with the rapid changes in this industry can keep your business evergreen and you can run it with constant demand. Henceforth you can enjoy high profit margin in this business.

Learn How to Write a Mobile Showroom Project Report

The next point to consider is to learn how to launch a mobile phone shop and create business plan. It will demonstrate the knowledge you have about the market forces and conditions prevailing in the market too. The strategy that you create should include details on how you will carry your marketing campaign and reach out to potential customers and how you will meet the needs of your clients.

Your company strategy should include all important details that relate to lease costs, overhead expenses or staff costs. The project report should serve as a map to know all visual information of this business setup.

Once all the resources and expenses are identified, you can modify the business strategy as per need.

If you are thinking about how much money you will need to start and operate a mobile phone store business, then you will have to read further.

You need to first access how much funds are available with you and then decide how much loan you require. An entrepreneur will have to avail bank loan by presenting a strongly written project report on mobile phone store business and get loan.

One should also know about the threats that you may face when you make investment in this business. Every business involves some risk or the other. So, you should know about them prior. If you can’t obtain minimum amount for investment in the mobile store, then you can reduce the scale of your business and investment cost will get down.

Investment Required for Mobile Store

Minimum investment required for opening a mobile store is Between Rs 6 to 9 lakh. It also depends on the location, merchandize to be supplied, size and scale of the business etc. Mobile phone stores are working well in the cities and towns.

Space Required for Opening a Mobile Store

A mobile store generally requires a land space of approximate 11 X 16 square feet or 160 square feet. The store should have setting of display cases, cameras, lighting, and AC. All-important fittings need to be done.

It is important to have a lengthy counter that measures around 9 X 3.75 feet on either side of the store so that you can attend customers well. The glass door is preferred at the front. You can also get 2 to 3 cupboards with glass along the wall at the counter that can be illuminated and decorated.

Registration, License and Permits for Mobile Store 

Every mobile phone store is managed by one or two people and can generate more than Rs 10 lakh profits annually. Thus, it is important to establish this business as an LLP Limited Liability Partnership. If you want to open one big mobile store in your area or in a mall and want to sell online too then it is mandatory to incorporate your company.

Along with the registration of the business, a GST Number and import-export code is mandatory.

Mobile stores consider cost benefits, so they import so they prefer to buy mobile accessories from countries like China. In such situations, when the mobile store owners import goods, they need to have an IE Code also.

To start a new business in India, you will have to first register your company and avail a GST number. You need to be sure that you have done all the required paper work and have all the details in your project report to set up this business.

Marketing Plan

It is important for your business growth to make a perfect marketing plan because if your plan fails, your business will fail too. Preparing marketing plan and strategy demonstrates your understanding about mobile store business and the economic condition and how you can market your business and manage customers.

Although you have good amount of money for rent and bearing additional expenses still you need to do market research to determine these costs.

You need to have an estimation of initial stock and timely arrange fresh stock. You can thus work on developing a website and increasing your customers from there.

Locating a Distributor

Once you are done with all the above tasks, you need to do a deep market research for mobile phone distributor and acquire stock. Then you have to plan a strategy to display your stock in your store and enhance your sales.

Attracting Customers for Mobile

Create a showcase and adopt the perfect advertisement strategy when you begin the operations in your store, and you will see customers approaching in your store.

One can choose to begin with the cost-effective option that is a website.

People also advertise in newspapers, TV and radio initially for a few months so that people get to know about your newly opened store. One can also publicise your store using billboards, e-mail marketing, flyers, yellow page ads etc.

As your company will grow you will be able to expand the administration in the city and this can increase your brand awareness and bring you additional income.

Your target audience needs to be given utmost priority and additional services can be provides to engage the potential customers.

Challenges and rewards are all good ways to secure your business and gain better advantage.

In India retailers and wholesalers are required to form a diversified retail business that gets limited reach. It is important that your store is launched at a good time like around festivals so that tremendous benefits can come to you.

To take this business forward you need to know the purchasing power of the customers from the nearby locations, and you must stock as per their demand. As mobile phone was earlier not a part of essential items, so it was considered expensive but now it has become a necessity in today’s life, so it is an essential item and is demanded by everyone.

Business loan for Mobile Phone Store Business

You need to have a mobile store business project report to get a bank loan. First you should try to arrange the funds from your savings and if you don’t have then you can plan to get loan from reputed banks or financial institutions.

You can also get collateral free loan at reasonable rates if your fund requirement is small and if it is high then you may have to submit some collateral against it.

The banker will go through all important details in your project report and then decide whether to give you loan or not. You will also get the facility of paying loan back at flexible repayment terms.

That’s why we lay emphasis on a well written mobile phone project report so that your bank loan is not rejected by the bank. You can get in touch with our experts and order personalized project report for mobile shop project report and satisfy bankers. It is also a road map that you may have to study while operating this business.

Mobile Distributorship

Once the space and interior of your store is done. You can commence your services. It is very important to build good relationship with mobile distributors so that they can provide you stock of mobile phones, accessories, display models, and other products and give you some of them on credit as well.

It is also important to obtain and offer a few services to your customers in your mobile store like Mobile Sim Cards, Recharge Cards or repair services.

Why should I start mobile store in India?

The mobile is an essential item for every individual in India. Apart from writing messages and calling you can do a lot more on mobile phones. It is now used for tracking and is an essential source for information. Every individual in India wants to have a mobile phone for enjoying ease in life.

The human race is now increasingly dependent on mobile phone as it has widespread uses. When a mobile is lost or damaged, it is immediately arranged. This is because people get accustomed of using them. This is the reason why mobile phone stores are flourishing in this business. Thus, opening a mobile store has a wide potential and you can easily earn a steady income from this business.

How To Start Mobile Store in India?

You can start a mobile store in India if you have finance ready with you. One needs to do a deep market research to know about the best location of your business. As an entrepreneur, you can start advertising about your business before you start its operations. Keeping an opening ceremony is a great idea to attract crowd. You need to get a minimum investment of Rs 10 Lakh to start this business. Maximum investment depends on the scale and size of your business.

Mobile Store Designs

There are many items that can be used to decorate a mobile shop. It includes counters, glass drawer, air conditioning, a chair, a computer, shelves etc. You can draw more and more customers when you keep your store decorated, attractive and transparent.

It is possible to design the counter in a way that it can add ambient lighting to your shelves and improve the aesthetic appeal. It is henceforth the best to take help from an interior designer and tell them to design your mobile phone store as per your like.

Brands and Distributors

Now it is the time to decide about the brands and distributors for buying stock for your store. The market demand has to be researched first and defined. You should buy popular brands in more number and cheap and affordable brands of mobile phones can also be bought in high quantity.

The expensive brands and the ones that are of premium quality should be brought like Rs 20,000 segment of mobile phones are more sold. You also need to find a distributor for the stock of mobile phones and accessories.

As per the demand, the delivery of mobile phones and accessories can be made at your own store and on low or reasonable prices. When you buy mobile phones from the distributors the business owners should set their mobile stores in a manner that it attracts more customers.

Here is the complete list of famous mobile brands that you can buy for your store as they have good market demand.

Lenovo, Redmi, Oppo, Realme, Motorola, Apple, Samsung, or Oneplus are all famous mobile phone brands.

Knowledge About Competitors and Competition in The Market

To have the knowledge of competitors is very important before you start the mobile phone business. As the owner of a mobile store, you have to invest money so before investing it, you must research about the existing mobile stores in your area, and their marketing strategies. You must now choose the area where there are very few mobile stores so that you can have a good demand for your mobile phones and their accessories.

Which Accessories should I stock in my Mobile Store?

A good mobile phone store doesn’t just sell new mobile phones but also provide services and repair old mobiles. Some stores also sell accessories. It is very important to stock latest and trending mobile phone accessories because they are in huge demand and are sold commonly. Accessories like temper glass, mobile case, designer covers, earplugs, and speakers have good market demand. They are fast growing and moving products that are sold along with mobile phones.

Setting an Online Mobile Store

E-Commerce has made it comfortable and easy to sell and deliver your products to consumers at their own homes. E-Commerce giants like Amazon, Flipkart and Snapdeal are giving you the platform to go online and grab the global market opportunities. People are benefitting from this business idea in Chennai.

As an entrepreneur you should be prepared to sell your product to the people who are ordering it. Everyone is active on social media these days. Facebook and Instagram influence more sales and you can also become a salesman there.

You can simply start your page there and request family and friends to like and share your page. This is how you can promote it and then it will impact and boost your sales.

You can also make use of influencer marketing on social media where you can hire people with large fan following who will educate their followers about your brand and products. Placing ads and discounts is a great idea.

You must also try to set up a photo booth for encouraging customers to take photos and share on social media. They will tag your store and you can also ask for appreciation from your local customers and post their remarks on social media. You can attract them for next time by giving them further discounts or vouchers.

Getting Insurance is Useful

The uncertainty in the past years has taught us that nothing is certain so you should get your mobile phone business insured. You should protect your business from the risk and your stock too. You can hedge your risk against artificial and natural disasters.

List of Things to Do Before starting a Mobile Store Business.

• Make a list of mobile accessories that are sold in your locality.
• Arrange accessories like head phones, speakers, tempered glass, cables, chargers or other accessories. It will add additional income to your business and customers can get all items under one roof.
• Tick the accessories that you can buy and stock in your store for selling purpose.
• You should be careful about your segment of customers. It will give you an idea which stock will be in more demand.
• You should know you product well because people are not tech experts and as a mobile phone seller, you should have good knowledge about the product so that you can elaborate the functions of the phone well. You should also know the pros and cons of your hand set.

Understanding the Market

Before opening your mobile phone store, you must get a deep understanding of the market.

Mobile store business is one of the best businesses to begin in India. You need to first learn about the competitors that are already doing this business.

• You need to first avoid facing competition in the market.
• You have to decide on the budget you have to set to start your store. How much money you can arrange to enter mobile store market.
• You should not try to test the depth of this business. You should be concerned only about the investment you can make and do not g beyond.

Day To Day Activities of Mobiles

Mobile store business needs to know hand on approach. You should get to know how your customer looks and must know about your survival and growth potential.

Arrange Flexible Payment Options

You should make arrangement of flexible payment options in your store so that your customers can find it easy to buy a mobile phone. People can buy mobile both on credit and cash. It is important to offer clients with easy payment options like Bajaj finance loan, Emi options etc. If you stay rigid on mobile phone payment, then you may miss your deals.

Choose Selling Price Wisely

You should offer discount on basic mobile accessory like ear plugs, mobile covers etc. and recover mobile phone profit margin through minor products.

You should never mistake by overcharging customers on commonly used items like mobile covers or screen guards as they will never get back to your store.

Provide medium for Convenient Shopping

Customers these days like to make payment using Google Pay, credit card, Cash, Paytm etc. When customers find themselves satisfied with you, they always return to your store and will also recommend your store to their friends and get connected to you.

Provide After Sales Service

Once you have sold the mobile, and there is some problem with the device you should try to support the customer by either fixing hit or guiding them what to do. You can also get requests to download the apps or set them. It will build a good relationship with the customer.

Sample Project Report Format for Mobile Phone Store in india

In our project report format, we cover technology details, its diagrams, flow chart etc. as and when required or deem fit to include. Also, prepare in-depth financial calculations which are necessary for the Investor/bank. 

Contents of MOBILE STORE Project Report

Conclusion OF Mobile Phone Project Report

To start a mobile phone store is a highly lucrative business. You will have to include every crucial detail about this startup and arrange funds. If you want to get a ready-made project report on mobile phone you can get it from our website within a couple of minutes. We will provide you the pdf of project report and you can later download it after making payment. You can get information about the following business opportunities on our website. 

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Frequently Asked Questions On Mobile Phone Store Project Report