Some people are not content with “working for the man” and want to start their own businesses. If you are tech-savvy, starting a computer store should be a reasonable choice. The global computer market is constantly growing, almost 13% in the last quarter.
But before doing that, you have to decide on some important things. You have to decide on the area. Are you going to concentrate on hardware, software, games, consoles, etc.?
Most people want to get a full-service at one place, so you should consider doing that, even if that wasn’t planned initially. If you are not skilled at aspects of the computer business, maybe you should consider partnering up or employing someone with complementing skills.
Knowing your way around computers isn’t enough. You are going to run a business, so you will have to deal with some paperwork and comply with some rules.
The paperwork
Depending on the state and business structure, the paperwork may differ a lot. There are several business structures that you can choose from, but most people decide on LLC (Limited Liability Company). It does involve additional paperwork compared to simpler business structures, but it offers one significant benefit- a company owner doesn’t have to cover the losses his company made in case of bankruptcy.
If you are interested, and you are wondering about, let’s say, how to form an LLC in Louisiana or about company setup in Dubai, there are some steps you need to follow. It starts with coming up with the name, appointing the legal representative, handling the accounting, and so many more. It can be overwhelming if you are just starting out. It might be a good idea to consult a person specializing in company law and bookkeeping before making a final decision.
The Business Plan
Making a good business plan is one of the most significant but also overlooked steps in starting a company. Not having a proper business plan is actually one of the main reasons many businesses fail within the first year. A well-defined and structured business plan leads you through every phase of starting and handling your enterprise. You can use it as a roadmap for organizing, running, and expanding your new business. Some of the many areas it covers are:
- Market research and analysis
- Organization and management
- Marketing and sales
- Financial projections
- Funding
Location, location, location
Choosing a place for your store can sometimes be extremely difficult. There are some basic things you should consider:
- You will need a nice and open space, with convenient entry points, for easy loading and unloading sometimes bulky computer equipment.
- You will need to separate the storage and repair shop area from the store.
- It will also need to be a place where people pass by often. Rent will probably be much lower in some alley, but there wouldn’t be much traffic there.
Unfortunately, spaces that offer all of the above are sometimes costly, and you have to include those expenses into your selling price. But if you go overboard, your products might cost more than in competitors’ stores. This requires a lot of fine-tuning and consideration.
Going Online?
Mobile searches for “store open near me” (e.g., “computer store open near me”) have grown by over 250% between 2017 and 2019.
Online shopping is increasing every year, and some physical stores are getting less and less business. Computer stores are also affected by this trend. But still, about 45% of global shoppers buy online and then pick up in-store.
Customers also want to get advice because many aren’t skilled with computers, so they need expert advice on the hardware they need. Creating an extensive Q&A section, answering questions online can increase customer satisfaction and your reputation and drive sales.
Follow the trends
The world PC market grew by almost 13% in the third quarter, which is nice to hear. But if you look at the information more closely, it shows that laptop and mobile workstation sales rose by 28.3% year over year, while desktop and desktop workstations saw a 26% sales decline.
So, maintaining your business, especially through troubling times, requires paying close attention to consumer trends.
Doing a great job
This is crucial, and it will help you rise above the competition. It’s tough to compete with some established retailers. There will always be someone larger or cheaper than you. The best way you can punch through is by offering an excellent buying experience and after-sale support.
User reviews are one of the significant factors Google is using in ranking your business. So. to rank well, you have to do your job well. And in the long run, that’s what’s important. It makes or breaks a business.
Conclusion
The computer market is constantly changing and evolving, and it’s hard for a beginner to find its place. But what some people consider a shortcoming is actually a quality. As a beginner, you can have the flexibility that larger companies can’t have. Also, you can provide that personal shopping experience we all like so much.