Someone who has a great inclination for computer works such as repairs and maintenance must entertain the idea of starting a computer repair business. Looking at the trend, you will be in the business for a long haul, especially because more and more people are now dependent on computers for almost everything. However, putting up a business is not just about what's in demand or what will generate a lot of money, but it has also to be something of your interest. The best thing about it is you don't have a boss to deal with. You only deal with the busted computers and their owners. However, in starting this type of business, you have a lot of things to seriously consider.
The first thing you should consider is your resources. You are starting a business so you need to put effort and capital. Think about where you want to put up your business. Do you want to have an actual business establishment or an improvised shop somewhere in your yard? The latter is more cost-efficient, especially when you think about the rent. Still, there is the Small Business Administration (SBA) that provides support for entrepreneurs and small businesses.
Getting a loan through the SBA would be "friendly" to your pocket since sba loan rates aren't too high and the repayment terms are feasible. If you have enough saved money to start the business but would want a buffer for purchasing supplies, you might want to consider applying for a business credit card instead.
These days, there are loan companies that offer such, and they will take care of the credit card processing. That increases the chance of your being approved for the credit card.
Next, determine what kind of clients you want to have. It's now easy to access free tutorials for basic computer repairs. So unless, the problem is serious, you might not get many clients. Foresee what characteristics they have. Do you want to cater to big companies or individuals, more or less the retired people who don't know anything about computers? Hospitals, retail stores, law firms, government agencies, and home computers can also be the best prospects. Determining your clients will help you with your promotion and planning for the marketing strategy that you're going to apply.
Third consideration is your strengths and weaknesses when it comes to IT and business skills. You may have strong technical backgrounds, but you lack something in the business aspect. To succeed, one must have a good combination of technical and business skills.
Lastly, plan your marketing strategy. Remember that marketing is the key. Competition is prevalent and inevitable. Other companies may have built their reputation and rapport to their loyal clients long before you. Remember that you are the new guy in the block. Don't come off too strong, but you must also not come off too weak. So strategize to make sure that you stand a chance in the completion.
It would also help to have a good business plan you can present to banks and financial institutions when applying for a loan. Hopefully, these five tips would help you as you start your computer repair business.