A frequently asked question in the cell phone repair business is, “How much can I earn?” It’s important to know - you’re wanting to make a smart financial decision and you want to understand how much you can really earn if you have to invest a certain amount of time and money into starting a phone repair business. NOTE: Each individual who chooses to pursue starting a phone repair business will be more or less successful than others. Nothing included in this article is a promise or guarantee. Your results are completely dependent upon you.
To begin, a good first question to ask and find the answer to is, “How many repairs per day do repair shops in your city or area actually complete?” This factor will vary depending on your location, demographics, competition and your unique selling proposition. If you were to want to start a phone repair service in Pensacola, gathering data from local repair shops would be necessary to understanding how many repairs you could expect to have in a given day. Also, your marketing strategies - how you get your name out into the marketplace is going to play a huge role in the success of your phone repair business.
In the US, the average repair shop will fix 15 to 20 phones per day. Even at this pace, your phone repair business would being doing just OK. More aggressive and better-marketed repair shops can do upwards of 50 repairs per day. Given that most of the phone repairs will consist of Apple iPhones and Samsung Galaxy smartphones, your average repair will cost the customer around $100. With cost of goods sold averaging around 30%, there is huge potential to create a profitable phone repair business if done correctly.
Diversify your product mix. Most cell phone repair shops also provide iPod and tablet repair services. Fixing iPads and tablets is a great addition to your business as there is a huge increasing demand for this. At Pensacola Cell Phone Repair, we provide a wide range of repair services that you can see here.
Phone repair isn’t an easy industry to get into - it’s a very technical business and there’s a learning curve. However, there’s very few businesses that you could get into for such a low investment that have such a large upside potential.