Roughly a decade ago, smartphones weren’t as common as they are now. Those with smartphones were much cooler than the rest of us. They were able to do new things like pull up Google Maps, watch a video on their phone or play some game that wasn’t Snake or Tetris.

Nowadays, you’d be hard-pressed to find someone who doesn’t have a smartphone. Even those that would refer to themselves as being tech-illiterate have access to plenty of these modern technologies and amenities.

Electronics, computer equipment, and gadgets may have been reserved for nerds in the past, but now it’s everyone’s game. The constant need to be on the cutting edge affects everyone. An electronics store is not only a place to purchase the latest and greatest, but it’s also a repair shop to make sure your devices stay connected and functional.

Going into electronics sure seems like a great idea for many and it is if done properly. Below, we’ll take a look at various tips to help in starting an electronics store.

5 Profitable Tips for Starting Your Electronics Business

1- Research Your Area

If you’re starting up, you’re going to be servicing your local industry first. You might also not be the first ones in the electronic game. Besides competing with big stores like Best Buy, you might be competing with a number of other small businesses.

Make sure you’re researching your area before you decide where you want to put your business and if it would be a good idea to do so. If your local area is stuffed with stores, then it might be a good idea to look at the other side of town or think about how you could be different. If you’re coming in and offering just another store, people may not be so quick as to walk through your doors.

2- Obtain Required Permits

There’s always some red tape to throw you off, isn’t there? Look into your state and city to see if there are any special requirements you may need to open your shop.

If you’re repairing computers, you might need to pass a state-licensed test in order to make sure you are knowledgeable and have the ability to provide adequate care.

You’ll also need to look into certain business licenses and other forms of documentation to make sure you’re following all guidelines.

3- Decide What Kind of Store You’re Going to Be

In this day and age, there are plenty of stores that choose to be fully online, working as dropship eCommerce stores or offering their services for customers on the web.

If you’re going to open up a brick-and-mortar storefront, then you’re still going to want to stay online and make sure you have a digital front as well.

Both options offer up their own positives and negatives. Going strictly online is much cheaper and costs less, but you may struggle more to have people notice your business. Opening up a store means you need to find more investors, but it will be easier to spread the word. Speaking of marketing…

4- Develop a Marketing Plan

Once you have your business idea, you just need customers to come, right? Unfortunately, it’s a lot more difficult than simply putting an “Open” sign in the front window.

When developing your marketing plan, think about how you’re going to reach out to people. What social media pages or groups do you need to be active on? What kind of conferences or workshops can you attend to build a networking group? What kind of content do you want to publish?

Think about what your website should be named and what it should look like. Having a strong plan ahead of time and laying out the big picture is going to help you stay organized and efficient while you develop and grow your business.

5- Research Materials

As an electronics store, you’re going to be doing much more than recommending what gadgets people should get. You’re also going to be repairing some of those gadgets. While you may not have to repair everything, it’s important to know what equipment and materials you may need.

For some computer or electronics components, you might need a dispenser machine in order to properly complete repairs or issues. You might need a completely new tool belt, filled with tiny screwdrivers and adhesive materials instead of a giant hammer and a box of nails.

Making sure you have your materials and equipment ahead of time is going to save you plenty of time and money in the future.