How to make over N100k monthly running a phone charging business, anywhere in Nigeria
June 23, 2020
How to make over N100k monthly running a phone charging business, anywhere in Nigeria
Phone charging – According to a recent report, estimates from different sources put the number of smart phone users in Nigeria at roughly 25 and 40 million. These figures are even projected to be overtaken by far in the nearest few years.
The exact data is hard to ascertain, consequently, data found shows a strong growth outlook for the country’s mobile phone market.
In case you are still confused or contemplating if one can make a living by simple “Phone charging” then you’d better think again.
This reminds me of how we grew up at a time when “ice water” is being tied in a nylon water proof and sold across busy markets and street, just to help whoever is thirty and far away from home to get their thirst quenched.
Step by step, the business got a wider innovation that further emanates into the sachet water that not only meets needs in the market place or streets today, as well used at home as drinkable water.
Phone charging as a business
This is not difficult to understand by virtually every Nigerian, since mobile phone is an electronic ware with battery that requires regular charging to stay up for the daily calls, browsing and other related activities as deem fit by the user.
Again, the epileptic power supply in the country has further given more room for this business to be heading to the ivory tower with relative ease.
Needless to mention how Nigerians are going through untold hardship courtesy of poor power supply, as we already know that and at large have accepted this faith as it is.
Phone charging is a setting where you rent a shop/space or a container in a relatively busy area, then help people to charge their mobile phones, which as well you charge for this service for a fee, depending on your location.
Things to consider before citing a phone charging business
Siting a business should be done carefully having factored every indices accordingly, this will help propel the business fast within a suitable time frame.
To site this business, you ought to put the following in place;
Siting this business must not be in an obscure location, to take maximum returns and profit, your business should be located in a dense populated and busy area of the town. This reason is attributed to traffic, traffic and traffic.
To make money doing phone charging business, your business location should be very evident, it should be capable of attracting attention which ultimately the market will sell on its own since you are selling a very hot in demand service around town.
Note, not as if you will not make money siting this business in a rather otherwise location, but considering our monthly target as a subject of this business guide, after all people site businesses in their house and still make profit.
A busy market area, busy street etc should be ideal if going by the monthly revenue of this guide is anything of interest. The next point is;
You are not ignorant of the fact that you will be dealing with very fragile and delicate personal ware, mobile phones are highly sought after, a go get for thieves and bad boys alike, girls inclusive these days.
How does it feel to receive a phone from a customer, just for you to realize that the said phone has been lifted hours later? That’s embarrassing you know.
You will not only pay for such phones, you may end up losing other customers since nobody wants to be a victim of such misadventure.
By this, kindly ensure you take adequate security measures which include but not limited to;
- Site your business in an area where relative security is guaranteed, it shouldn’t be in a very lonely location, bad boys may attack and take away every device, leaving you with loads of debts to pay.
- Ensure and install a burglar proof in your shop, there should be a demarcation between where these phones are kept and where customers can access. The phones should be fenced off possibly, with entry granted at your approval to only authorized personnel, probably a cashier in charge in your absence.
- That being said, you must not allow more than two persons in your shop at the same time, if you must violate this, ensure they do not go anywhere close to the mobile phones. There lies the point number two.
Avoid areas with moderate power supply
Of what benefit is taking ice to the Eskimos? They sure won’t patronize you, the scenario is not different here.
Kindly sell your service to people who are in need of it, siting your business in an area with moderate power supply will not guarantee your breakthrough, since everyone can easily have access to light which invariably is the service you provide.
Let’s take a look at steps/modalities for starting a phone charging business
Modalities for starting a Phone charging business
To start this business in earnest, you will need the following;
1. Shop or container – Like I said earlier, you will need a physical space that houses your business, you may choose to use a container, where erected structure is not available.
Again, do not forget to factor location as stressed above, it’s very important and pivotal to your success.
2. Power generator/Solar – This is the main buzz in this business, you will need a power generator which should supply the light for the service being rendered.
Your customers choose to come around because your generating set is up and running, so be prepared to buy one.
Alternatively, you may install solar energy, depending on your budget. If you can afford it on a long run, do install solar, comparing cost benefit analysis, it’s profitable than running a generator set.
3. Build platform for multiple sockets – You will have to make provision for sockets where the phones will be plugged in large quantity.
Get a carpenter to make this, it may be built on wooden board, can take any shape with respect to your shop or container space.
Depending on your outlay, do make a board that houses at least 50 sockets, yes, you should be out for serious business, we are talking about making upward of N100,000 (One hundred thousand naira monthly), we are not kidding here.
You may reduce the count however according to your capacity and how much you wish to make, there’s no harm so long you are making the money you desired.
4. Buy phone charger – You should know this already, you will buy phone chargers both conventional charger and desktop charger.
For the record, you will be dealing more with batteries, so make provision for more desktop/universal chargers than the conventional phone charger.
Some customers have more than one or two batteries, they will feel safe dropping their battery behind to get charged than the phone itself, usefulness and security necessitate this, so know it before-hand.
Template for setting up a phone charging business, cost and profit analysis.
You will need to buy more of this alternative charger than the convention phone charger, considering our target you’ll need 30 universal chargers.
Each of these chargers goes for around N400 each, depending on your location you could get a discount since you’re buying such quantity.
Conventional phone charger
Conventional phone will be earmarked at 20 pieces, since the universal charger is 30 already.
By this we are looking at having a total of 50 direct phone and battery chargers all together.
You may keep extra as you deem fit, just in case you need them by any means. It should cost about N700 each.
These are the power source where the phone chargers and universal/desktop chargers will be plugged for power supply, to cost N200 each, supposed 50 pieces.
We are setting their number at 50 as well to compliment the number of chargers in view.
Wooden board and installation of chargers
This is where you’ll need a carpenter in town, wooden boards are ideal, as they make for easy installation of the sockets. Should cost N10K
You are into the business of power supply in your own little capacity, not for households and industrial use, but for mobile phones.
Putting a suitable generator in place will help you to stand out in business, at least, your generator should be up and doing from morning till close of business.
In view of this, avoid a fairly used generator for a start, it may disappoint you, if you must use it, let it be a back-up then.
At worst case scenario should still have a competitive capacity to undertake the service you render, it should cost N30K at least.
Universal charger, we budgeted for 30 pieces at N400 each.
N400 X 30 = N12K
Conventional charger, we budgeted for 20 pieces at N700 each at least;
N700 X 20 = N14k
Power socket, we budgeted 50 pieces for N200 each;
N200 X 50 = N10k
Wooden board, we budgeted N10k for the board and installation of power socket.
Power generator, this should cost N30k.
The above cost does not involve the rent or the container as advised above if necessary.
From the above analysis, it can be seen that the summation of the above modalities stands at N76K. Depending on the location, rent inclusive should bring your start-up cost to around N100k or slightly above.
Read also: I started my business with N10, 000
From all indications, we are targeting to charge at least 50 batteries and phones put together a day, on an average price of N100 each.
It then stands that N100 X 50 = N5000 daily revenue.
But you need power to stay in business, so we should as well factor the energy consumption to about
N700 fuel daily.
It then becomes N5000 – N700 = N4,300.
On average after expenses, you are left with N4,300 daily.
Your monthly earning should then be;
N4,300 X 30 = N129,000.00
Running a phone charging business does not limit you to charging phones alone, with time you will start selling items like phone chargers, batteries and other accessories.
Bit by bit your customers will start making request for these things and before you it, you’re running a full-fledged business already.
Note: Special security tip, always ensure you label batteries and phones with customer’s name using a tape and pen, make a detailed entry of every item received in a note book and have a customer sign off as soon as they take their items (batteries and phones) daily.
Have questions you will like to have me address on phone charging business, kindly use the comment box below.
Raphael Orji is a freelance writer, professional blogger and a content marketing consultant. I work with small businesses, startups and entrepreneurs in building their brand image with high quality blogging and content marketing strategy.
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