Thinking about opening a cell phone rental and leasing business? We tell you what you need to know to get started.
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Best Practices: Business Plans for Cell Phone Rental & Leasing Businesses
Struggling to get the attention of lenders and investors? Maybe it's because you're lacking a high quality business plan.
The most effective cell phone rental and leasing company business plans include a comprehensive chapter on finances. Not surprisingly, lenders immediately turn to the financial section and use the accuracy of your forecasts to gauge the value of other parts of the plan.
Subsequently, a thorough understanding of business plan financial basics is a prerequisite to effective business plan writing for cell phone rental and leasing businesses.
Don't Overlook the Competition
Prior to launching a cell phone rental and leasing business in your town, it's worthwhile to find out how many competitors you have. Try our link below to get a list of local competitors in your area. Complete the form by entering your city, state and zip code to get a list of cell phone rental and leasing businesses that are close by.
Gain a knowledge of how existing firms have positioned themselves in the marketplace, and then design your business in a way that sets you apart from the others.
Getting Advice from Experienced Entrepreneurs
After you've evaluated your local competitors, it's essential that you speak with somebody who is already in the business. Local competitors are not going to give you the time of day, mind you. Why would they want to educate a future competitor?
Thankfully, an owner of a a cell phone rental and leasing business on the other side of the country may be willing to share their entrepreneurial wisdom with you, once they realize that you are not going to directly compete with them in their community. In fact, they are often very willing to share startup advice with you. In my experience, you may have to call ten business owners in order to find one who is willing to share his wisdom with you.
How does one quickly and easily locate somebody who runs a cell phone rental and leasing business who is willing to advise you because you live in different cities?
We can help. Follow the link below, try a few city/state combos or zipcodes, and then start calling!
Financial Benefits of Buying a Cell Phone Rental & Leasing Business
Startup cell phone rental and leasing businesses carry a host of financial risks and concerns. Without an operational history, it's hard to predict how your startup will actually perform in the marketplace.
Although there are many benefits to buying an existing cell phone rental and leasing business, the financial advantages rank near the top of the list. Many entrepreneurs buy an existing business for the sole purpose of tapping into the financial benefits of an established customer base.
But most importantly, existing cell phone rental and leasing businesses have documented financial histories. Although you can create pro forma earnings and financial statements for a startup, a business-for-sale should have a well-documented, multi-year history of financial performance.
Franchising May Be a Better Way to Go
Succeeding in small business isn't easy. But it's even more difficult when your business is a startup.
To stack the odds in your favor, consider tapping into one of the many cell phone rental and leasing business startup opportunities offered by leading brands and franchisors. They offer the security of an established company combined with the growth potential of a new business launch.
The link below will take you to Gaebler's cell phone franchise directory where you can start exploring prospective franchisors for your startup.
These additional resources regarding getting started as an entrepreneur may be of interest to you.
If you currently own a cell phone rental and leasing business, these resources will come in handy:
If you sell to cell phone rental and leasing businesses, you're in the wrong place. These resources are more appropriate for you:
If you are interested in starting a different kind of business, please browse our directory of guides below.