Are thinking of a small-scale business you can start in Nigeria that does not demand a high capital to start? Phone charging business is the business you should go for.
There are many reasons why phone charging business is a lucrative business. In this article today, I am going to guiding on how you can start a phone charging business anywhere you are in Nigeria.
This guide will work for you whether you are in the urban area of Nigeria or you are in the rural area.
Asides from this, I will also teach you different ways can make profits in the phone charging business possibly how you can diversify it to make sure your business continues to thrive.
As we all know it is due to the power problems in Nigeria that phone charging business idea come up and it due to this that the business is profitable. It is a profitable business because it is fulfilling a need.
I remember the time I went to Anambra state on a visit, it was because of the existence of the phone charging business there that I was able to still keep my phone on till I returned to Lagos.
And with what I was able to notice within the short time I stayed there I realized that with proper positioning of the business and putting other factors into consideration you can actually make millions from the phone Charging business whether there or any other state in Nigeria.
Is Phone Charging Business Profitable?
There are many reasons why the phone charging business is a profitable business in Nigeria but the main reasons reason why it is profitable is due to the power outage we have in Nigeria.
Due to the inability of the government to provide 24 hours power supply and the fact that the average Nigerian cannot afford to buy a generator to generate electricity, phone charging business is the only option for many Nigerians to charge their phones.
This business has helped Nigerians who cannot afford electricity in their homes to still be able to charge their mobile phones. Phone charging station is also lucrative especially during blackouts in Nigeria.
In Nigeria, there are times that we often have blackouts and these blackouts could last for days sometimes even weeks. It is at this period phone charging stations are at its peak in profits.
Capital Needed to Start Phone Charging Business
Phone charging business is a small-scale business in Nigeria. It is also a daily income business as it will make money for you every day and the best part is that the business does not require huge capital to start.
You can start a phone charging business in Nigeria with #100,000 – #300,000 depending on the equipment you already have at hand. However, you can start the business with almost zero Naira if you have all the necessary equipment to start.
Equipment Needed to Start Phone Charging Business
There are different equipment needed to start a phone charging business in Nigeria. However, these are the major ones you need.
- Light bulbs
- Fan (ceiling or walls or standing fan)
- Phone chargers
- Desktop chargers
- Big power bank (Optional)
The big power bank will be used to charge phones when your generator is not working or it can be used when you do not have many phones to charge.
1. Do your Market Survey
When it comes to starting a business like this conducting your market survey is very important. The market survey lets you understand the area you want to establish your phone charging business.
It lets you know how much you can charge for each phone, laptop, or gadget you charge. The market survey also lets you know how much you can be made daily from your phone charging business asides from expenses in fuel.
And lastly, the market survey lets you know the customer behavior in the environment you want to start the phone charging business. The economy in Nigeria has gone beyond starting a business based on assumptions or gut feelings.
You need to be sure that any business idea you are bringing to the table can stand the test of time and it can make good profits as time goes by.
2. Write a Phone Charging Business Plan
If you are thinking of running your phone charging business for more than 2 years in Nigeria you will need a phone charging business plan.
This plan is to guide you on all you need to know about the business both inside and outside so that you are not caught off-guard in any situation. In every business plan, you will find a market survey but in every market survey, you will not find a business plan.
This is why conducting a market survey is not the same as writing a business plan. These 2 are different.
You will need to write a phone charging business plan and if possible look at other business ideas similar to phone business you can do with your phone charging business.
You can write this business plan yourself or you can contact us to write a detailed one for you. The choice is up to you.
3. Get Capital Needed
After writing the business plan for your phone charging business, the next step for you will be to get Capital for the business. Like I said earlier, you do not need too much capital to start the business.
In fact, you can start your phone charging business in Nigeria with 0 naira if you have all the necessary equipment already.
As for how you can get capital to start this business I will advise you to save money to start instead of borrowing. This is if you do not have the capital yet.
4. Buy Necessary Equipment
After sorting the capital needed for your phone charging business the next will be to buy all the equipment needed and rent a shop or container that you can be using for your charging station.
Except you are fixing solar panels at your phone charging station you would need a reliable generator, a generator that would be able to work from morning to evening.
Asides from this, you will need to be setting apart money every day to buy fuel. The fuel you have to buy regularly is the only expense you have in the business.
You will also need to build a custom-made extension that can be able to charge many phones or batteries all at once.
5. Rent Shop or get Container
Renting a shop or container is very important except you want to start your phone charging business from home. If you are considering renting a shop location is very important.
You need to take your time and look for an area where power consumption is very low. It is in this kind of area you can rent a shop for your phone charging business.
After renting your shop you need to run wire to your shop from your generator. Depending on where your generator is located you might need less or more wire for the running.
6. Start Phone Charging Business
After putting all these in place you can now start your phone charging business. If your location is at the right place (where people (customers) can easily locate you) there will be no need for advertisement.
Customers will be able to come in at will to charge their phones. But if you are not in the right location you might need to do some word of mouth advertising and give some discounts to attract customers.
Also, you need to know how much you will be charging for each phone you charge. Depending on the area where your phone charging business is located in Nigeria you can charge a minimum of #100 – #200 per phone and as for laptops, you can charge #300 – #400 per laptops.
7. Increasing Profits in Phone Charging Business
You can increase profits in your phone charging business in different ways. You just need to pick out of the options I will be giving below and work with the ones that go with your area.
A. Sell Phone Accessories
You can increase profits in your phone charging business by selling phone accessories alongside. Since your business has to do with phones when people come into your shop they will also buy phone accessories like earpiece, chargers and more.
B. Phone Repair Business
You can also join a phone repair business with your phone charging business even if you do not know how to repair phones. If you cannot repair phones you can still get someone that can repair phones to do this for you and pay the worker salary monthly or on a commission basis.
C. Give Discounts
Giving discounts in your phone charging business will also encourage people to charge more at your charging station.
D. Location, location, location
The location of your phone charging business in Nigeria also plays a major role in how much profits you make from the business.
If you put your phone charging business in a hiding place you will not be able to make profits as much as if your phone charging business is at a major bus stop, t-junction, roundabout, or a major road.
You should consider location first. Get the right place at the best amount.
Phone charging business is a lucrative business in Nigeria if your phone charging business is at the right location and you consider other ways of making money from the business.
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