How to Start a Phone Case Business

0
1824
Image credit to newswatch on Pixabay
Image credit to newswatch on Pixabay

Cell phone accessories give consumers a chance to personalize and customize their experience. The popularity of cell phone cases in particular makes this market highly profitable, but at the same time very competitive.

Service providers have plenty of products on hand when customers purchase a new phone. Phone owners buy accessories from various sources, including kiosks at the mall and online stores. Widespread product availability can make market entry more difficult than production.

Your decision to start a phone case business requires a long-term commitment. Start your journey by researching your target market. Design the type of case your ideal customer demands and develop a marketing strategy. Once you have a finished product, expect to spend most of your time selling it.

Obstacles and challenges will arise as you develop your business. Having patience and realistic expectations, therefore, will help you succeed as an entrepreneur. Follow the step-by-step procedure described in this guide to build a successful phone case business. Pay attention to details and you will avoid many of the problems that have caused other startups to fail.

Chapter Overview:

  1. Covering the Basics

Research the market to discover what consumers want from their cell phone cases. Learn how to write a successful business plan. Name your business, select your location and sales channel. Develop a mission statement and business goals that will guide your efforts.

  1. Legal Requirements

Reduce your risk of liability and failure by learning and complying with legal requirements. Discover the laws and regulations that apply to the production and sale of phone cases. Keep in mind that taxation will impact the way you organize and operate your business.

  1. Financing the Business

Money affects every aspect of your business. Learn to estimate your startup and operating expenses. Find ways to finance your company. Your financial needs will affect product pricing as well as your choice of equipment and facilities.

  1. Marketing and Advertising

Identify the people who will most likely buy your product and find out how to reach them. Select workable marketing channels and craft a strategy that resonates with your audience. Learn to make customer service a competitive advantage and the cornerstone of your phone case business.

  1. Selecting Vendors

Vendors will supply you with services and items you need to manufacture cell phone cases. Find out how to choose the right suppliers for your business. Reliable and highly professional vendors will have a direct impact on your business success.

  1. Launching the Business

Launching your business marks the beginning of a long journey. Announce the launching of your phone cases and engage your customers to get the feedback you need to tweak your product and brand. The feedback will allow you to adjust your business strategies in order to stay relevant in the dynamic marketplace of cell phone accessories.

Chapter 1: Covering the Basics

Image credit to StartupStockPhotos on Pixabay
Image credit to StartupStockPhotos on Pixabay

Starting a business involves more than a creative product and a place to sell it. Such a misunderstanding reflects the deceptive simplicity of consumer’s perspective. Successful ventures need hard work and diligent research before they open their doors.

Developing a business plan requires intense thought and visualization. You must document every process and resource that your business will need. Extensive research and planning can lure investors and provide a solid foundation for success.

Market Research

Good market research has several stages. Firstly, you should gather data from current phone case sales. Get to know the people who are buying phone case accessories. To do so, you must find out where they hang online and offline.

Connecting with your future customers is crucial to your business success. Interact with customers on social media and get their feedback on what they like and dislike about currently available phone cases. Ask about their opinion regarding phone case prices. You can gather this information by using social networks, blogs and forums, conducting surveys, providing questionnaires or doing interviews. Use customer feedback to craft a marketing message and design your product.

Study your competitors after you study your customers. Identify the companies that have phone cases comparable to yours and learn how they operate. Gather information about both new and established brands.

To analyze your competition, obtain accurate data from published industry and trade sources. Watch your competitors’ social media accounts and websites for strengths and weaknesses. You can also speak directly to business owners. Many of them will be happy to share their knowledge and experience.

Competitive research should include comparing available products and prices. In addition, you may wish to approach your competitors as a customer and buy one of their phone cases in order to get insight into actual customer experience.

Writing a Business Plan

The aim of your business plan is to give credibility to your startup. A good business plan can win the hearts and money of banks and investors by proving that you have a solid proposal. Also, your business plan will define your operation and help you focus your activities.

Start your document by preparing an executive summary and outline. Giving your readers an overview will prepare them for the details that follow.

The description section of your plan should include a review of the phone case industry. Write an analysis of competing firms that highlights their strengths and weaknesses.
A detailed business plan should also encompass marketing strategies that explain how you plan to position your phone case business in today’s competitive market in order to attract customers and make a profit.

Next, provide a section on your design and development plan. Supply the specifications of your phone case design as well as your production process. Include estimates for the cost of labor and materials for your case as for product pricing.

The operations and management plan is another crucial section of your business. You should include logistical details and the performance requirements of your organization. Define every role within your organization and provide accurate job descriptions as well as requirements related to managing your phone case business.

The last part of the business plan includes financial factors. Financial requirements stated in the plan should include an accurate estimate of the capital needed to start your phone case business. Describe how you plan to use the aforementioned capital. Highlight other financial elements, such as expected sales, cash flows, profit and return on investments. Describe your financial picture as the numbers portray it and avoid the temptation to exaggerate your position.

Naming Your Business

The name of your phone case business is crucial to your success. Choose a business name that conveys the values and mission of your company. However, remember that you do not necessarily need to have a descriptive name. Trying to communicate too much with a name can cause confusion, so keep your name short, easy to spell and pronounce.

Check the availability of the desired URL domain. You will want to use the same name for your website that you use for your business. If the website name is not available, consider adjusting or changing the business name. Also, check existing business names and trademarks before naming your business to avoid legal complications.

In general, you should avoid using worn-out terms and clichés for your business name. Instead, choose a unique name that makes your business stand out from the crowd.

Once you come up with a list of names that meet the above criteria, conduct a survey asking people and potential customers which name they like and which name is easy for them to remember. The success of your phone case business depends on its name, so avoid making a quick decision.

Selecting a Location

Your business model will influence where you locate your phone case business. Decide whether you will sell your product online or through a store or kiosk. You might choose to sell through more than one channels.

Availability and cost will guide your selection of a physical location. Search for an affordable high-traffic location that has no nearby competitors. Setting up a physical store requires inventory space and fixtures such as lights and shelves. You will also need to buy signs, a merchant account and a point-of-sale system to check out customers. Use listings in local and online directories to help shoppers find your kiosk or store.

On the other hand, an e-commerce website requires software and a secure environment for shoppers. Your site should include product photos, custom product descriptions, pricing and shipping information, return policy and contact information. Having an online store also requires opening a merchant account with credit card providers and online payment services.

Operating only an online store adds flexibility to your location search. You might cut costs by using your garage or basement to store your inventory and process orders. Otherwise, consider renting a space in a commercial building. Whether you choose a physical or an online location, keep in mind that you need extra space to store inventory, invoices and bookkeeping paperwork.

To conclude, you must resist the temptation to speed through the basic steps of opening a phone case business. Research your market thoroughly and write a business plan to give your startup purpose and direction. Use diligence to choose a fantastic business name and a great location. Work hard now towards creating a solid foundation on which to build your successful phone case business.

Chapter 2: Legal Requirements

chapter-2
Image credit to jarmoluk on Pixabay

Obtaining business licenses may sound like a tedious task, but it is necessary if you wish to legally operate your phone case business. Specific licensing requirements depend on the location, size and structure of your organization. In order to learn which licenses you need to obtain, check with your local and state government offices.

In general, you will need one or more of the following:

  1. General Business License

This license serves to identify businesses within an area and raise revenue for the local government. Your fee helps pay for available public infrastructure and services, whereas licensing data enables planners to manage the growth of their community.
In most cases, general business license must be renewed annually.

  1. Sales Tax Registration

Both online and offline retail operations must collect sales tax in most states. If you are required to collect sales tax, you need to obtain a tax permit. Discounts for submitting sales taxes early or penalties for late payments can apply.

  1. Unemployment and Worker’s Compensation Registration

Most states require you to register your business, even if you are the only employee. Depending on the size and structure of your phone case business, you might need to buy insurance that covers work-related injuries. In addition, some states may require you to pay into the unemployment insurance plan used to finance discharged workers.

  1. Alarm Permit

Every time something or someone triggers your alarm, law enforcement or emergency personnel must respond. Communities require businesses to buy an alarm permit in order to help pay for such services. Some localities might also charge you an extra fee for every alarm incident in your phone case store.

  1. Home Occupation Permit

If you plan to have a home-based phone case business, remember that most city and state governments require businesses operated from a home to have a home occupation permit. This permit limits the amount of noise and pollution your business produces. It restricts the business space used within your home, the amount of customers that visit you daily, the number of employees, as well as the number of vehicles in front of your residence.

  1. Signage Permit

Local ordinances often govern the size and height of signs used in commercial areas. Keep in mind that you might face signage restrictions while operating your phone case business from home. Once you get your signage permit, you will have a chance to learn about applicable rules.

  1. Zoning Permit

If your phone case business is operated in a residential zone, familiarize yourself with the zoning ordinances and make sure to abide by the existing zoning laws. If necessary, obtain a zoning permit and comply with specific terms listed on the permit.

In addition to obtaining licenses and permits, there are other things to consider when starting a business. The following is a list of steps to setting up a phone case business:

  • Register Your Business

Contact the Secretary of State’s office for your state to register your business. The type of registration you need can vary depending on the structure of your phone case business. Common choices include operating as a sole proprietor, LLC or partnership.

  • Obtain Licenses

Check with the state secretary’s office to see if you need a state business license. For a local business license, inquire with the county clerk’s office. You might discover that the rules vary depending on your location and business structure.

  • Get Your Federal Employer ID Number

Most businesses, particularly the ones with employees, should obtain an employer identification number. This number is used for filing taxes and can be obtained by completing and submitting Form SS-4 to the IRS.

  • Obtain Sales and Use Tax Permit

The permit is required by most states. Check with the Department of Revenue for your state whether your phone case business requires this particular permit.

Future business owners often want to jump straight in with both feet and start selling their product before fulfilling business requirements. Resist the temptation to rush through this phase of setting up your phone case business. Spend the time and money needed to make your phone business legal. Compliance will help you avoid legal and civil complications that can jeopardize your business in the long run.

Chapter 3: Financing Your Phone Case Business

chapter-3
Image credit to Maklay62 on Pixabay

Insufficient funding causes many businesses to fail, even if they started well. You can improve your chances of success by having enough cash on hand to run your business until it generates positive cash flows. The information presented here will help you estimate your capital requirements, set pricing and operate a profitable phone case business.

Types of costs

Make the distinction between one-time costs and recurring expenses as you plan. Recurring costs include the materials used for production and rent, as well as utilities and payroll. On the other hand, the cost of starting a business includes one-time necessary expenses such as production equipment and furniture. Also, you must pay for operating licenses and permits before you start selling your product.

While listing all expenses, consider the fixed and variable costs associated with your business. Fixed costs, such as your rent, don’t change, regardless of how many phone cases you make and sell. Variable costs, on the other hand, increase along with growing production and sales volumes.

As you make progress with your business, you will have optional costs that may include office decorations, holiday parties and similar expenses that are not necessary for your phone case business to function efficiently.  In contrast, essential costs are crucial to the functioning of your business. Always make sure you have enough money to cover the essential costs before you decide to invest in elements that will create optional costs.

Estimating your costs

Use your business plan to identify the fixed infrastructure your company requires. Think through your daily operation and write down everything your business needs. When finished, research the prices associated with the things on your list. Add the cost of every item on your list to estimate your total cash requirements.

Your phone case business must own assets including computers, printers and furniture. Other necessary business assets are cash registers, credit card terminals and inventory. Assets last for a long time over which you can depreciate them to save money on taxes.

In addition to assets, virtually all businesses must have inventory. Your raw material inventory includes everything used to make your phone cases. Examples of raw material items include the dye, templates and blank cases. During production, you move raw materials into your work-in-progress (WIP) inventory. The WIP inventory encompasses the cost of direct materials, direct labor and other production costs. Finally, the finished goods inventory refers to your phone cases that have been completed by the production process, but have not yet been sold to customers.

Your startup will have overhead expenses including legal, administrative, marketing and selling costs. Add the cost of electricity and other utilities used for production as part of the cost of your phone cases. Remember to calculate your labor costs and taxes as you prepare your financial plan.

Your cost estimates should cover your first full year of operation and the cost of your capital.
You need to have enough resources to cover at least 6 to 12 months of costs and expenses before you actually start making a profit.

Financing methods

Common financial strategies for startups use multiple funding sources. You should consider all available options if you have insufficient cash on hand to open your phone case business. For example, you can get started using your personal credit card, but you might also need to get a loan from a bank or finance company.

Finding a strategic partner can help you raise low-cost capital. Use your business plan to attract investments from family members, friends and angel investors. You might also want to post your plan to a crowdfunding website to attract investors.

In addition, consider using a business incubator that provides office space and equipment to reduce your startup costs and connect with available funding options. Another option is to enter into licensing agreements and have other companies pay you to produce phone cases for their brands.

Financing your startup takes work. Patiently look for affordable financing options and negotiate terms whenever possible. Part of the funding process might require you to defend your business plan and deliver samples before investors will trust you with their money.

Financial issues cause many businesses to fail. Make your startup different by preparing a realistic financial plan. Get started by calculating the cost associated with producing and selling your phone cases. Estimate your selling price and your path to profitability so you know how much money you need. Armed with a solid business plan and a viable financial strategy, you can get the financing you need to open a stable and successful phone case business.

Chapter 4: Marketing and Advertising

Image credit to geralt on Pixabay
Image credit to geralt on Pixabay

Marketing your phone cases effectively is more important than the quality and design of your product. Without successful marketing strategies in place, you may have the best design and highest-quality products but your business will not be sustainable.

The usability and appearance of your phone cases matter. However, people need to hear about your company first, in order to buy your product. If they don’t know you exist, you will have a hard time achieving sales.

Successful marketing is an on-going process that starts before a company is launched. Think about your marketing strategies in advance and don’t forget to include them in your business plan. Your marketing plan will depend upon the time and money you are able to invest.

In general, you should market your product both online and offline. Also, make excellent customer service one of your most important marketing strategies. Satisfied customers are likely to become loyal to your brand and bring in even more new customers, thus allowing your business to expand.

Online marketing

Digital marketing will help you reach your target market, regardless of whether you operate your phone case business online or offline. The following are some online marketing ideas that will help you promote your phone case business:

  • Launch and optimize your website

Nowadays, every business should have a website that offers extensive information on their products and services. The website should include contact info, product photographs and specifications, prices and payment options as well as customer reviews wherever applicable. Have your website optimized for search engines, as well as for mobile devices. In addition, consider hiring an SEO expert that will make your site more visible in Google search results.

Make sure that your website is easy to navigate and customer-friendly. A modern design that includes pictures and sufficient engaging content will attract visitors and help convert them into customers.

  • Choose your e-commerce platform

If you want to sell your phone cases online, you should set up an e-commerce website.  There is a wide variety of e-commerce platforms available to choose from. These platforms simplify many aspects of online businesses, ranging from product and category pages to checkout processes. Some of the most popular platforms include Shopify, Bigcommerce, Volusion and OpenCart.

The choice of the e-commerce platform for your phone case business will depend on your budget. In addition, some e-commerce platforms are more customizable than others. Carefully research all your options before you decide to use a particular platform for your phone case business.

  • Use social media to advertise your brand and connect with people

You can use a virtually limitless number of social media accounts to advertise your product and engage your target audience. Keep in mind that this requires time and a regular activity from your part. Make sure to answer all the questions from your potential customers and provide feedback for comments. You can also find free and low-cost online apps that will help you coordinate all your social media accounts. In addition, use paid social ads to reach even more people if your budget allows you to. Finally, remember to create a LinkedIn account in order to reach prospective business customers, partners, and vendors.

  • Create a blog

Integrate a blog into your website or e-commerce. Use the blog to provide up-to-date information about your industry and products. This helps to establish your company as an authority in the phone case industry and attract more visitors to your website.

  • Take advantage of listing opportunities and business forums

Create listings and free pages on online directories such as Google my Business page, Yelp and Yahoo Local. This will enable potential customers to get in contact with your business more easily when they begin researching phone cases. Similarly, participating in online forums that pertain to your type of business will allow you to connect with your target audience and other business owners.

  • Use e-mail to reach influencers and customers

Contact your LinkedIn connections and phone case business influencers via e-mail. Don’t be afraid to ask about their advice and suggestions. If you are trying to reach potential clients via e-mail, make sure you have their consent before you send them an e-mail. This means that your website should offer potential customers the opportunity to subscribe to your e-mails. Choose your subject line with care and offer your clients the opportunity to unsubscribe.

Offline marketing

While digital marketing is a ‘must’ these days, do not underestimate the power of offline marketing. Offline marketing offers a unique value and can help create long-term relationships with customers. The following are some offline marketing ideas that you can use to advertise your phone case business:

  • Use creative branded stationery and printed materials such as business cards and envelopes. Your correspondents and on-premise shoppers should see a consistent presentation of your brand as they learn about your products, so use the same logo and color scheme on all your online and offline materials.
  • If you have enough financial resources, use press releases to publicize the launch of your startup and spread the word of your high-quality phone cases.
  • Distribute promotional items, such as pens or mugs, that bear your company logo to build awareness of your brand.
  • Consider using local media to market your phone cases. Include newspaper advertising as well as television and radio commercials and billboards.
  • If you have a physical store, advertise your products to every shopper that comes through your door, but make sure to avoid aggressive marketing. Subtle face-to-face marketing creates lasting impressions that can result in recurring sales.
  • Use guerrilla marketing tactics to attract attention. Unconventional creative activities such as leaving sticky notes in random places or creating sidewalk advertisements create curiosity about your brand and draw attention to your products.

Customer Service

Satisfied customers create brand ambassadors who tell other people about their positive experience with your business. You should never forget that angry and dissatisfied customers will also share their experiences. In fact, customers who were unfairly treated can leave irate online comments that go viral. Don’t take chances with your reputation. Instead, choose right now to satisfy every one of your customers.

Customer service as an affordable marketing tool gives you a chance to establish a competitive advantage that makes your brand of phone cases stand out from others. You need to make relationships, not sales, your top priority.

Active listening on your part will enhance customer satisfaction, particularly when dealing with disgruntled clients. Avoid arguments and work together with customers to find satisfactory solutions. In addition, admit your mistakes and never try to fool your clients.

Make sure to treat your customers with respect and always honor your commitments. It is important to provide shoppers with several ways to contact you and promptly respond to all their inquiries. Your aim is not to simply meet customer expectations, but to exceed them.

Now that you understand the importance of marketing to your phone case business, it is time to create a strategy that communicates your brand values both online and offline. You can accomplish much with free and low-cost activities using creativity and ingenuity, but make sure to add customer service excellence to your marketing toolbox.

Chapter 5: Vendor Selection

 

chapter-5
Image credit to OpenClipart-Vectors on Pixabay

All businesses rely on partners and vendors. For your phone case business, you will need to find the right suppliers who can deliver the quality and quantity of materials needed to make your products. Without dependable vendors, you will have difficulty scheduling production and fulfilling orders. Your business could fail if you don’t have the right people on your side.

A phone case business requires at least three essential components, depending on your business model. First, you must have blank phone cases. In addition, you need some winning designs and an access to a specialized UV printer. If you chose to manufture more unique case designs, you may need other materials such as templates, glitter, fabric and paint.

Before you start your phone case business, you need to choose vendors that will continually supply your business with items such as blank phone cases and materials used to decorate the cases. Also, you will need to find appropriate design and printing marketplaces. Establishing the costs of these services and materials will help you determine the price of your final product.

Vendor Selection Criteria

Budget conscious startups often focus on the price of their materials. After all, you need every dollar to work hard for you. However, you should avoid obtaining low-quality goods in exchange for a bargain-basement price. Otherwise, your finished goods could fall short of your customers’ quality standards, resulting in a high refund rate and a damaged reputation for your business.

The model of cases that you choose to sell can also affect your vendor selection. Supposing that you want to only sell cases that fit a certain brand of phone, you must find a vendor that sells blank cases that fit that brand and provides any additional services that you need.

Choosing established vendors that have good reputations can help ensure that you get high-quality materials. Sometimes, however, you might have to achieve a balance between affordability and take chances on an unproven supplier. Still, established vendors will often offer you favorable terms of sale and robust customer service that justify their high prices.

Dependability is another factor that guides your choice of vendors. Your suppliers must make themselves available to answer questions and resolve problems with your orders. Check to see if a prospective supplier has good reviews from other business customers. Always inquire about the time it takes to receive delivery of your materials so you can plan your purchasing activities accordingly.

Vendor Selection Process

Use multiple sources of information to create a list of potential vendors and then narrow your list to the ones that you will seriously consider. You can talk to your friends and acquaintances in the business community to get their feedback about the companies from your list. If possible, talk to people who have done business with each supplier before submitting customer application.

Try using business directories such as Thomson and the Yellow Pages to learn more about possible vendors. In addition, you can join trade organizations that include other phone case businesses to meet people who can suggest appropriate vendors and share their experiences with the names on your list. Your local Chamber of Commerce might also have resources or members who can help you choose the best vendors for your startup.

Should you need further guidance while choosing vendors, you can visit trade shows and exhibitions where prospective vendors show their products and market their services. Trade publications can also supply you with valuable information.

Request additional information from your possible vendors by submitting a Request for Information. Next, write a Request for Proposal or a Request for Quotation in which you specify the requirements for your business and phone cases. Describe the materials and services you want to buy, including their quantities. Finally, evaluate and compare the responses you get. When you find the vendors that best fit your business model, negotiate acceptable terms of sale and prepare to submit your first order.

Take a step-by-step approach to your vendor selection process, since your choice of vendors will directly impact your business success. When you choose the right suppliers, you will have reliable partners who can help you produce the goods you need to sustain your business.

Chapter 6: Launching Your Phone Case Business

chapter-6
Image credit to PourquoiPas on Pixabay

Whether you choose to have a one-day event or a series of activities that stretch over several days, your business launch should serve to attract attention from your target market and set the stage for long-term operations.

Resist the temptation to splurge on an overly expensive event. Instead, let your budget guide your launch plans. You should have fun launching your business, but don’t forget that the launch sets the stage for your future business success.

Launch Your Business

Choose the right channels to announce the launching of your business. You should target the channels that will reach your potential customers. The channels can include a blog post on your website, an announcement on your online store, an event or even a press release. Focus on one mail channel and use other channels, such as social media and e-mail, to support your main post or event.

Create a date and time for your startup launch that accommodates the schedule and lifestyle of your ideal customers. If you have a physical store, you can hold your launch event there. Also, consider using webinars, live social chats, video streaming and other tools to expand your target audience.

Keep your launch activities aligned with your goals by building an appropriate narrative. Throughout the event, communicate the essence of your firm and focus attention on your product and brand. As your event progresses, make sure to addresses the needs of your customers.

Your knowledge of your customers’ habits and opinions will help you pitch your brand to them. Use facts to sell your product and reinforce your most important point throughout the launch event.

After The Launch

Leverage the momentum of your launch event to build your business. Get feedback from your attendees and customers in order to improve your business plan. You can use the ideas that got the most traction during your launch to optimize your long-term operations.

Prepare for the surge in sales that might follow your launch by having on hand an ample selection of phone cases and supplies. Furthermore, you should double-check your website to make sure that it functions properly and can handle a potentially high traffic volume. Test your e-commerce store, if you have one, to ensure that your customers will have an easy shopping and checkout experience.

Continue to develop your online presence or physical store and optimize your business processes. If you stay focused on making your business efficient and dependable, you can attract sales and serve customers long after the surge from your launch event has faded. Don’t forget to interact consistently with social media users and brainstorm for ways to find new customers.

Launching your phone case business gives you a chance to introduce your brand to the world. Focus your event on a central message that appeals to your target market. In the aftermath of your event, act on the feedback you have received by correcting problems and implementing suggestions. If you continue improving your business after your launch event, your business will grow and prosper.

Conclusion                           

conclusion
Image credit to ToddTrumble on Pixabay

Motivated by your vision and courage, you have decided to open a phone case business. Like any business, however, you must go beyond your initial desire to plan and prepare for your new venture. When you discipline yourself to create a business plan, you will stay focused on your goals and have a useful tool for attracting investors and securing financing.

You must invest careful thought into your business model. Regardless of whether you operate a brick-and-mortar store, e-commerce website or both, you need to choose whether you operate as a sole proprietor, LLC, partnership or corporation. The name of your business should have a high priority because it must differentiate your company from competing brands while inspiring confidence and communicating your values.

The time you spend calculating the cost of doing business and your amount of overhead will pay off in the long run. You can avoid many expenses, including rent, by operating only online from your home. In any setting, your business will have routine expenses for supplies and materials as well as one-time costs for fixtures and equipment. Additionally, you will have expenses for categories such as payroll, security and utilities.

Many companies start well but eventually get choked when they run out of cash. As you prepare your financial plan, try to have enough money to operate for at least six months after you open. The cost of capital from your chosen financing options will affect your bottom line. You can borrow from friends and family members and find business partners to save money, but you might also need to use a personal credit card or loan to get started.

As you have learned, you must identify and comply with all applicable local, state and federal laws and regulations that apply to your phone case business. Buying permits and licenses and paying taxes will keep your business legal as well taking care of your responsibility regarding workers compensation and unemployment insurance.

Marketing your product requires you to survey your competitors and create a sustainable competitive advantage. Communicate your message using digital marketing tactics including content and social media as well as paid advertising. Local options for advertising such as billboards and grill marketing can also contribute to the success of your business.

Find the best suppliers for your business before you open, so you have the knowledge you need to set prices. Also, selecting your vendors in advance will help you plan your purchasing to guarantee the availability of the materials and products needed to fulfill your orders. Make sure to balance your desire for quality with your need for affordability.

As you plan to launch your business, decide whether you want to have a grand opening day or hold a series of launch events. Use the feedback you get from your launch to refine and improve your business plan and model. You should also commit yourself to ongoing improvement to keep your phone case business efficient and relevant.

Starting a phone case business lets you sell a product that has existing demand and proven marketability. You also will have relatively low start-up costs and access to multiple sales channels. When done right, you supply your customers with a wow-factor while earning margins as high as 600%. Your decision to launch a startup requires a lot of effort but it will inevitably reward you if you invest the proper time, effort and money.

LEAVE A REPLY