How to Start an iPhone Repair Business
Mobility is the way of the future. According to the most recent data collected by Pew Research Center, a whopping 95% of Americans now own a cell phone of some type. And for 77% of them, that cell phone is a smartphone, with iPhones being the most popular device.
Whether it’s the 10-year-old getting their first smartphone or the senior citizen getting another upgrade, each of these phone owners has something in common: they are likely to require a repair at some point in the near future. Smartphones are fragile boxes of sensitive electronic equipment that are prone to damages by water, falls, scratches and more. The good news is that this sensitivity offers plenty of opportunities for those who want to make money with iPhone repair business.
Of course, like most things, wanting to make money with smartphone repair business and actually getting it done are two very different things. Starting a business, while it can be incredibly rewarding, requires planning and research if it’s to be successful. Consider the following key steps and things you’ll need to know before venturing forth into the iPhone and smartphone repair industry:
4 Key Steps to Take Before Opening Up an iPhone Repair Business
All great journeys begin with a plan and a map. The journey to make money with an iPhone repair business is no different. Business plans are like a road map that provides directions and lists waypoints so that a business can map/plan out its future to avoid delays and mishaps.
You don’t have to get super involved with this, but you should write out a full description of what you want your business to look like, who you want to serve, and what type of services you want to provide. If you opt to go into this industry as a franchisee of an existing iPhone repair brand, one of the benefits will be an existing business plan template which you can tweak to meet your needs and goals.
Training & Assistance
In addition to understanding the basics of iPhone and other smart device repairs, you’ll also want to want to get some training on the ins and outs of owning and operating a business. Take advantage of local business training and counseling services and spend some time at the library researching business prep guides. Entrepreneurs who go the franchise route will benefit from specialized training and ongoing support.
Choose a Business Location
While you certainly can make money with iPhone repair business out of your home, most people in this industry find the biggest success with a customer-friendly storefront. A storefront enables you to brand your product and service, store inventory, and elicits a better sense of legitimacy, which goes a long way of instilling trust in your customers’ minds.
However, knowing where best to set up shop, takes first knowing your customers. For example, some people requiring a repair will first attempt to go to where they bought their smartphone—such as at their mobile plan provider or at the Apple store itself—but when they can’t get help there, they will then turn to a repair business. Therefore, a smart entrepreneur would research business locations near shopping centers with Verizon, Apple, AT&T, and similar stores. Remember the age old saying, you want to go where your customers go.
The United States loves entrepreneurs and small business start-ups; offering a variety of loan and grant programs for purposes of encouraging and assisting entrepreneurs to fulfill their business dreams. You can find a list of some of these programs at the U.S. Small Business Administration website. You may also secure financing via a traditional bank loan, by tapping into your 401(k), or by attracting an angel investor. Of course, one of the more enticing aspects of owning and operating an iPhone repair business is the relatively little overhead when getting involved in a franchise.
Plus, if you do go the route of a franchisee, you can often request for in-house financing via your franchisor, or at least a list of recommended lenders who are familiar with the brand’s history and business model.
A business plan, the right know-how, money, and a location are the essential meat and potatoes of starting any business but especially if you want to get involved with an iPhone repair business. This is an industry that is only going to grow, making now a great time to get started!