Growth of the Cell Phone Repair Industry 2018 – 2019 into 2020
Growth of the Cell Phone Repair Industry 2018 – 2019 into 2020
Smartphones have become an essential part of life. You will see everyone holding expensive mobile devices in their hands and covering it by different mobile covers so that they won’t break down. But there is another side of the picture from manufacturing devices.
An industry that has fiercely made its existence in the market made and permeant. Yes! You guessed it correct, it’s the cell phone repair industry. Since 2012 this industry has been grown over 5.5% average growth rate and currently, there are more than 8000 businesses registered with an annual profit of $272.5m in 2018 and has increased to $400m in 2020 (IBIS World Report), worthy indeed.
Now, why would you not make your own shop? Read the entire article to get initial information, process, cost-benefit analysis, and some advice for starting on your own repair business endeavor.
Cell phone repair business – A great start-up
Have a low budget? Don’t worry! This is the right industry to begin fulfilling your dreams, just invest a little money and earn quadruples within a short time period, AKA Fast ROI! From 2018 to 2020 the cell phone repair industry has gained more than $4028m in business and more is being recorded for the year of 2020. According to IBIS World, from 2010 smartphones consumption has been increased and today we have 95% of smartphone users.
That means any industry affiliated with the cell phones will definitely make benefits through it. Many have a fear that devices will be made unbreakable and this could not be farther from the truth. If the devices never broke and never wore down, you’d never buy a new one and that’s not good for the manufactures. As I always say, give me a device and a human and ill show you NO electric is unbreakable, we are walking electronic breakers by nature! This industry is booming and will always boom, do you need to change and grow with it, YES but it will always be great.
Let’s see what sort of things you’ll need to be able to repair to run a repair business:
- Battery repair and replacement
- Button and headphones jack repair and replacement
- Sensor repair and replacement
- Screen replacement and refurb
- Frame replacement
- Antenna replacement
- Camera front and back repair
- And Other functional repairs
A simple formula for start earning money
For a cell phone repair business to start you need some specific tools that generally costs lesser than what people believe. After completing certification with CellBotics, we will give you some tools to take home and show you what else you could buy if you wanted, but it is not required. Training will be your largest cost and is necessary to have before starting your own shop/store for cell phone repair to ensure you make money.
Your growth all depends on your hard work and business model. If you follow and implement what we teach you in class you will be profitable and successful.
Inventory
It will cost around $80-$400 for its initial inventory purchases. If you have a larger budget you can spend more but your main cost will be marketing and ads. Most people have the misconception Inventory and tools are the top priority. But just as we teach in class, you can have a million dollars in parts and tops tools but no one will show up if you are not online.
Tools
You must have the essentials like screwdrivers, adhesive, hot gun or plate, grounding equipment and tweezer for the entire repair process. Talking cost, it would not be more than $200 you need for its purchase. We will provide you with a small tool kit to take home which saves a lot of time as you can start repair just with what you leave with, all the extra can come later.
Market trends for cell phone repair
For starting this endeavor, you must seek some certification and training #1 and it helps to know the market trends to match the training. The iPhone covered the market with 44.6%, Samsung 28%, LG 10 % and rest a mix of others.
Earn more than your expectations.
CellBotics can provide you a track for making money but let me be clear with you on one main thing, that it strictly depends on what you put in, to what you get back. There are higher chances for earning more than your expectations but prepare yourself for a climb. Once you complete your certification and spread the news in your surrounding areas using the processes, we teach you will for sure get the work and within a short time frame.
The numbers can be run if you know the average cost, labor, and total sales price, so here’s some insight for you. The average service charges for a phone repair in the market COSTS around $15 (such as a power button, screen, charge port, volume button, and camera repair). The average labor per repair is $80, making the average a customer pays is $95.
In a week, if you get 10 orders for quick repairs then surprisingly you will earn $800 in a few days’ time worth of work, that’s $3000 in a month. That is higher than an employee working 9 to 6 in an office and do whatever is required for his job security. Time is in your favor! If you put in the work!
Will it be the right decision?
Mark my words, you will not be making a mistake by investing in this industry and in yourself. Knowledge is something that NO ONE can take from you. As I mentioned above work is required and persistence, consistency, and dedication to doing the ‘hard things. You will not be able to earn profits super-fast but you will earn it gradually and can build up to reach your dreams. Moreover, make your own analysis before jumping into this industry because it is always beneficial to initially screen and ready yourself for upcoming ups and downs in any industry.
In closing, just know this, any business you start will require an investment. Why not make it in you and with CellBotics, we want the same for you as you want for you. We are here to support you as this industry grows, changes and expands.
I hope this post was informative and I really hope we get the chance to work with you!
Nicole Russell
Cell Phone Trainer and President of CellBotics
Check out these pages:
https://cellbotics.com/cell-phone-repair-training-reviews/ , https://cellbotics.com/cellbotics-partnership-and-icracked-partnership/ , https://cellbotics.com/videos-from-the-trainers/ or Register for our class here: https://cellbotics.com/cell-phone-repair-courses-all-schedules/ and be sure to signup for our Ebook and discounts: https://cellbotics.com/cellbotics-landing/
