OBJECTIVES
- Create a cell phone business plan.
- Understanding marketing and branding in the business.
What Is A Business Plan?
A business plan provides a snapshot of your cell phone repair business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.
Why You Need A Business Plan
If you’re looking to start a cell phone repair business, or grow your existing cell phone repair business, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your cell phone repair business in order to improve your chances of success. Your cell phone repair business plan is a living document that should be updated annually as your company grows and changes.
Sources of Funding For Cell Phone Repair Businesses
With regards to funding, the main sources of funding for a cell phone repair business are personal savings, credit cards, bank loans and angel investors. If you to get a bank loan, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings is the most common funding path for cell phone repair businesses in Zimbabwe.
