Phone and smart device shop

Everyday shoppers, older customers who want help with new devices, families and small local businesses.

Margin on accessories and smart devices, plus paid setup and data transfer services. Accessories usually earn more per sale than phones.

• Good knowledge of phones and smart home devices
• Patient customer service
• Inventory and cash flow management

• Sales tax registration and any seller's permit your state requires
• Local business license, zoning and lease terms for retail use
• General liability and property insurance, plus workers' compensation once you hire
• Carrier or brand authorized dealer programs have their own requirements, check before promising to sell certain phones
• Thin margins on new phones and money tied up in unsold stock
• Counterfeit accessories from cheap suppliers, buy from reputable distributors
• If you buy or sell used phones, check state secondhand dealer rules and how to verify a phone isn't reported stolen

Startup costs are typically around $20,000 to $80,000, depending on your location, lease terms and how much stock you carry. Inventory can tie up a lot of cash, so a smaller starting range may help.

Estimated monthly revenue is typically around $10,000 to $40,000, depending on foot traffic, product mix and how much setup help you sell. Margins on new phones can be thin, so revenue is not the same as take-home pay.

Check sales tax registration and any seller's permit your state requires, plus your local business license, zoning and lease terms for retail use. Also check insurance needs and any carrier or brand authorized dealer requirements before promising to sell certain phones.