People purchase these smart devices by tens of thousands every day in every city around the world. But like any electronic device, it can break. Repair shops have emerged due to the urgent need for a repair service. The need for a repair technician is in high demand and each smartphone shop can have more than one service readily available. Because of this, our franchise offers a good investment opportunity
1.The United States consolidates its worldwide leadership with 87% of smartphones over the total number of mobile phones. The commitment to access mobility has made the United States the world leader in Smartphone penetration.
2.America is the nation with the largest video game consoles penetration in the world. In just 5 years, homes with video game consoles have tripled in the nation. Each day more than 19 thousand families acquire a video game console.
3.The Tablets market attracts many professionals and students and has been growing positively in recent years. The tablet is becoming popular in the centers of studies, and the projections point to a magnificent growth of up to more than 40% of the Americans, that is to say, almost 140 million people would possess a tablet device.
Repair industry market size is $4 billion within the US Market Size as of 2020. Cellphone repair growth within the market size
have been continuously growing and have 1.6% increase from 2019 to 2020. This shows even with the pandemic, cellphone
repair is a sought-out venture for entrepreneurs which led to an annualized market size growth of 1.2% from 2015 up to 2020.
The industry has been on an increase since 2017
Repair industry growth within the US market size
The number if repair business continuously increases and as of 2020, repair industry has increase up to 7,984 repair shops around the united states. It had a growth of 1.1% from 2019 to 2020 and an annual business growth of 1.1% from 2015 to 2020.
Model | Repair time | Repair cost | Cost of parts | Labor (profit) |
iPhone X | 15 Min | $ 120 | $ 60 |
$ 60
|
iPhone XR | 15 Min | $ 130 | $ 70 |
$ 60
|
iPhone XS | 15 Min | $ 140 | $ 80 |
$ 60
|
iPhone XS MAX | 15 Min | $ 150 | $ 90 |
$ 60
|
iPhone 11 | 15 Min | $ 150 | $ 80 |
$ 70
|
iPhone 11 Pro | 15 Min | $ 160 | $ 90 |
$ 70
|
iPhone 11 Pro Max | 15 Min | $ 190 | $ 120 |
$ 70
|
iPhone 12 | 15 Min | $ 210 | $ 130 |
$ 80
|
iPhone 12 Mini | 15 Min | $ 210 | $ 130 |
$ 80
|
iPhone 12 Pro | 15 Min | $ 220 | $ 140 |
$ 80
|
iPhone Pro | 15 Min | $ 220 | $ 140 |
$ 80
|
iPhone 12 Pro Max | 15 Min | $ 280 | $ 200 |
$ 80
|
iPhone 13 | 15 Min | $ 410 | $ 320 |
$ 90
|
iPhone 13 Mini | 15 Min | $ 470 | $ 380 |
$ 90
|
iPhone 13 Pro | 15 Min | $ 450 | $ 360 |
$ 90
|
iPhone 13 Pro Max | 15 Min | $ 490 | $ 400 |
$ 90
|
Repair cost | Cost of parts | Labor (profit) |
In general, it is a market with a very strong demand and with a projection to the offer of repair services that requires a specialization of physical and human resources with a very low investment and with a very high-profit prominence.