A cell phone repair business is considered beneficial as everyone owns one, and it has a big profit margin. It is expected to increase up to $181.72 billion by 2026. This industry is going leaps and bounds throughout the world due to the increasing demand for fixing cell phones. People prefer increasing the lifetime of their cell phones rather than buying a new one. Cell phones can have both hardware and software malfunction. You should be able to accommodate both types of issues to facilitate your customers fully and generate maximum profit. Use POS Software to manage all the functions of your shop. Therefore you have many opportunities to earn in a cell phone repair shop by creating different revenue streams except only repairing.
To beat the competition in the cell phone industry, it is the need of the time to be versatile. For that, you need to build a proper strategy that includes your current and future goals regarding revenue and services. In order to fulfill these goals, you will have to introduce other services. Don’t just get stuck to battery change, screen repair, etc. The cell phone industry offers much more than that. So with time, you should keep on services and plan accordingly.
In this article, let’s explore some ways in which you can think outside of the box to make your cell phone repair store not-just- a phone battery and screen replacement store.
Let’s dive in!
Accessories Sales
Accessories are pure money when it comes to the cell phone repair business because they sell like hotcakes. They are not very expensive for the customers. Plus, they love accessorizing their cell phones according to their moods. On the other hand, it is absolutely near to zero cost for the cell phone repair store owner as they are buying in bulk. So you should keep a vast collection of accessories at your store. Keep a record of this stock in Software for Managing Inventory. These items are perfect add-on items for the cell phone. Position them strategically i-e., near the checkout counter where customers can see them whenever he is checking out.
Selling accessories can have other benefits, too, like it does not cover a lot of space in your store. You can have a little section right beside your checkout counter or even hang them on the walls behind and facing the checkout counter. Basically, anywhere they can be seen. You can also display it on your website and sell them on your social media pages. Maybe it can become a major source of income if you are doing it properly. These are the best gift-away materials when it comes to pleasing customers or giving awards for winning a competition, etc. Hence accessories are a win-win situation. And your Cell Phone Repair Shop Software can do your job ten times easily by managing all the data and adjusting inventory on every sale and purchase of these items.
Stock Up on Repair Parts
What’s a repair shop without the repair parts? Stocking up repair parts can save you a lot of time, money, and customer and employee satisfaction. When spare parts are at the fingertips of your employees, they will have no problem working instantly, and delivery time will be reduced. In addition, the process will be automated. Use your POS Software to keep the information on all the spare parts. It alerts you whenever an item reaches its reorder level, and you can directly place an order and inform your customers too about their estimated delivery time.
Refurbishment of Devices
Refurbishment is also quite profitable. If you have the experts and proper repair parts to repair that phone in absolutely perfect condition, then you are good to go. You can sell it at quite a big profit margin. You can convince your customers to shift to a better device at a relatively less price to a new one with the same features. It will be beneficial for both parties. You can have a dedicated inventory for such items and keep its record on Software for Managing Inventory. You can also source vendors who sell used or damaged phones to take this to a higher level. Buy these in bulk and use your experts to repair them and sell them with a significant profit margin.
Provide Special Services
If you want to be different and get noticed, then you will have to provide special services. They can be device personalization services because customers love when their devices are personalized. It is done by laser engraving. You can engrave your customer’s phones, tablets, covers, etc. You can even do that on a bigger level, like engraving serial numbers for companies or corporate branding. In addition, you can also provide micro soldering. The damage to the battery switch connected to the motherboard is quite common and complex to handle. It requires micro-soldering, which is not the work of an ordinary technician. So, provide this service, it’s cheaper and gets easier with practice.
Expand Your Business
Lastly, the key to greater revenue is expanding your business. The more, the merrier, but it can go to waste if not monitored. Therefore having Cell Phone Repair Shop Software is a must to cater to all the expansion needs, including customer management, forecasting, employee productivity, marketing, etc.
The cell phone industry is full of opportunities for profit and revenue. You just have to make the right strategies by utilizing smart tools like POS Software to manage all your store operations.