| Dos and Don'ts of Running a Brick and Mortar Cell Phone Store |
Dos and Don'ts of Running a Brick and Mortar Cell Phone Store
Do you want to capitalize on the popularity of mobile phones? Since many Americans have mobile phones, this can be a profitable business venture. The best way to sell is both online and locally. However, if you would like to focus on the local market, continue reading on for a helpful list of dos and don'ts.
DO choose a good location for your business. If you have yet to open your store, wisely choose the location. Don't automatically opt for a storefront with the cheapest rent. Instead, consider traffic. You want a store that is easy to spot, easy to access, and one with good parking.
DON'T make the mistake of believing customers will come no matter where you are located. In today's world, it is all about convenience. Customers do not want to drive out of their way to buy cell phones or accessories, especially when they have other buying options. That is why you should choose a well trafficked location.
DO research wholesale suppliers. This is easy to do online. Perform a standard internet search with the phrases "cell phone wholesalers," "wholesale mobile phones," or "wholesale phone accessories."
DON'T do business with the first supplier you find online. They may not have the best selection of phones and accessories or the lowest prices.
DO compare the wholesale cost with average selling prices. Visit an online cell phone store. Find the cell phone you want to buy from a wholesaler. What is the selling price? Compare it to the wholesale price. Is there profit to be made? If not, move on to the next mobile phone or wholesale supplier.
DON'T forget your goal is to make money. This is important to remember when buying stock for your store. You want to have a large selection of mobile phones and accessories, but don't pay more than you need to. By finding the best wholesale discounts, you lower your business expenses and increase your profits.
DO purchase all store supplies. Most of your attention will be placed on stocking your store with mobile phones and accessories. This is important, but don't forget supplies. You will need shelving units, hanging pegs, cash registers, counters, and so forth. While online researching wholesale phones, do the same for your store supplies.
DON'T open your store too soon. If you are opening a new store, don't be in a rush to make money. First, make sure your store is easy to navigate and organized. Depending on preference, you can organize mobile phones by make, price, or plan.
DO sell cell phone plans too. To get started, contact the well-known cell phone providers. See what plans they have available for partnership.
DON'T make the mistake of believing people will automatically find you. Advertise your business on local radio and television, in newspapers, and more. In fact, host a grand opening celebration. These always attract guests, especially when you offer free giveaways.
DO have fair prices. When running a brick and mortar store, you need to make a profit. Not only do you need to consider wholesale costs, but rent, electricity, staff payments, and more. These all cut into your profits. With that said, charge fair prices. Scout your competition in the area and see what they charge. Make sure your prices are inline. When you charge fair prices, you should make more sales.
DON'T forget the foundation of your business should be customer service. Whether you sell the phones yourself or hire help, make sure your staff is informed. Customers will have questions about the mobile phones, accessories, and plans available. Make sure your staff can answer them.
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