Phone charging business is a very lucrative one to venture into in Nigeria, as it is a good source of daily income.
The charging business is also an in-demand business in Nigeria due to the poor power supply, and the high usage of mobile devices. This means that sales are guaranteed regardless of your location.
The business is very easy to start, as not much is required in terms of experience. However, you still need to know how to start a phone charging business to make the startup a success.
That is why we’ve come up with this post to show you exactly everything you need to know about the phone charging business in Nigeria. In this article, you’ll discover what it takes to start, how much is required as capital, how much to expect in profits, needed equipment, and so on.
Are you ready to know all that? Let’s go then!
Starting a Phone Charging Business in Nigeria
Phone charging business simply means the commercial charging of all kinds of rechargeable devices including phones, laptops, power banks, lamps, batteries, etc.
This business is very easy to start, and it can be started anywhere in Nigeria, although it is more profitable in places with bad or no power supply.
The phone charging business moves fast, as there is always demand for the service across the country. One amazing thing about this business is that it can be started in combination with other businesses including sales of phone accessories, POS business, sales of recharge cards, video gaming center, and so on.
That makes it more profitable, as the business can lead to the birth of multiple income streams just in one shop.
Is Phone Charging Business Profitable?
Yes, the phone charging business is very profitable in Nigeria, as you can make up to 20,000 naira daily charging all kinds of devices.
A lot of things drive the profitability of this business. Some of them include the incapability of the government to provide 24 hours electricity in the country. Also, due to the fact that many Nigerians couldn’t purchase a power generator, a commercial charging shop is the only option for many to get their phones charged.
Overall, the profitability of this business is based on the amount of devices charged, rather than profit margin. The more devices charged, the more money you’ll make.
How Much Does it Cost to Start a Phone Charging Business in Nigeria
Phone charging business in Nigeria is a small-scale business. That is it requires not much of a capital to get the business off the ground.
You can start a phone charging business anywhere in Nigeria with a minimum of 100,000 Naira. That is you may need more depending on your location and the equipment you already have in hand.
Talking about location, the cost of renting a shop, or getting a kiosk in some places may be high. Therefore, you will need something extra left to account for this.
How to Start a Phone Charging Business in Nigeria
1. Carry Out a Market Research
The first step in starting a phone charging business in Nigeria is getting to understand this business. This can be done by carrying out thorough market research.
To achieve this, you’ll need to meet with someone already in the business, and ask them some questions. Do your findings on the type of environment to start the business, and get to know who your target audience is.
Also, find out about the cost of starting in your area. This includes how much it costs to rent a shop, get the needed materials, and set up the shop. Lastly, ask how much it costs per charge for various kinds of devices including phones, laptops, mp3 players, power banks, lamps, and so on.
2. Arrange for Funding
After doing your research, you should have a clue of the exact amount needed to get started. Now, the next thing is to raise the capital.
Since the phone charging business in Nigeria is a small-scale business, the capital needed to start shouldn’t be much. You can start by funding the business from your personal savings, or partnering with friends and family to get the business off the ground.
3. Get a Shop in an Ideal Location
Location really matters in the phone charging business. Although residential areas are the best place to get started, you can expect to make more sales sitting your phone charging business inside an estate. This is because people living there would be able to afford a generator, and perhaps, power supply isn’t that much of an issue for places like that.
So, when looking for a shop for your commercial phone charging business in Nigeria, the ideal location would be the mediocre residential areas, or perhaps, a regular Nigerian street.
A phone charging business can be started by renting a small shop or getting a kiosk (container). A roadside shop works well for this business. Just make sure that you secure a shop in areas with your targeted audience, and also ensure that there are little to no criminal records in that area.
4. Arrange for the Needed Equipment
After getting a shop, the next step will be buying all the needed types of equipment to get the business up and running.
You need equipment to charge devices, and not just one, but they include.
- Phone Chargers
- Battery Chargers
- Light bulb
These are some of the equipment you need to start l charging phones and other chargeable mobile devices in Nigeria. However, you’ll discover more if you do your market research before getting started.
5. Get Started and Get Working
Shifter getting all the needed equipment, Tue next thing is to set up your shop and get started. Setting up your shop starts with the arrangement of your charging equipment. You’ll need to make sure that the place where phones are charged has no obstructive objects, also safe. Some people do make a plank box with a net on top for this.
Also, getting started means you’ll need to market your business. Marketing a charging business starts with branding. You need to make a banner or signboard telling people what your business is about. For example “Charge Your Phones Here” or “Charging Available”, or even your business name + charging center. E.g “Nairarush Charging Center”. Word of mouth is also another means of promoting your business.
Once all these are done, you will start getting customers, charging their devices, and getting paid. The cost of charging a phone in Nigeria ranges from N100 to N200, while you may charge up to N500 for charging a laptop.
How to Make More Money From a Commercial Charging Business
Succeeding in this business is very easy. However, making more money may not be as easy as starting a business because you’ll need to be more strategic, have a little more capital, and be able to handle multiple businesses at a time.
This is because to make more money from a phone charging business, you’ll need to expand. This means you’ll need to operate other businesses alongside your charging business.
Take, for instance, a POS business. This business can be started alongside a phone charging business, and make more money as the business on a daily basis. That is you can also make up to 20,000 naira daily from POS business.
That’s just one business, just imagine having a gaming center, selling recharge cards, and even operating a phone accessories business with just one shop. Yes, you’ll be making way more money than your competitors.
With that being said, you can always start a phone charging business in Nigeria anytime regardless of your location, as there will always be demand for the service as long as there is a poor power supply in the country. Although the business requires patience, tolerance, and hard work to make it a success. With this post on how to start a phone charging business in Nigeria, I believe you’ve discovered all you need to get started!