One of the first questions people ask me is, “Boss, how much do I need to start?”
I understand. Nobody wants to enter business blind, especially in Nigeria where every kobo counts. But let me tell you upfront — there’s no one-size-fits-all answer. Your capital depends on which branch of the phone business you want to start with.
Some parts need just ₦50k. Some need ₦100k. Others, ₦1 million and above. The trick is knowing where you fit in right now and how to grow from there.
Why Capital Depends on the Branch You Choose
The phone business is like an ecosystem. There are four main ways to play:
Repair (service-based)
Accessories (product-based)
Used phones (flipping/brokering)
New phone sales (capital-heavy)
Each one has its own entry cost. That’s why when someone tells you, “Just ₦200k and you’re good,” don’t believe them. It depends on which lane you choose.
Let’s break it down.
Starting With ₦50k
If all you have is ₦50k, don’t let anybody laugh at you. That’s enough to plant a seed.
With ₦50k, you can start small in accessories — items like screen guards, earphones, chargers. These are cheap, high-demand, and quick turnover. Customers buy them daily.
Or you can use that same ₦50k to learn basic phone repair. Imagine being able to fix charging ports, batteries, and do simple screen replacements. Those jobs bring you ₦3k, ₦5k, ₦8k and more consistently.
That’s exactly why I built the Phone Repair Business School. Even if all you have is ₦50k, you can invest part in learning and part in simple tools. Within weeks, you’ll make it back and start multiplying.
Quick Tip: If ₦50k is all you’ve got, don’t waste it on fancy pouches. They’ll tie your money down. Stick to high-turnover accessories or skill acquisition.
Starting With ₦100k
Now, ₦100k gives you more breathing space.
At this level, you can combine learning repairs with buying entry-level tools and still have small money left to test accessories.
Or you can go into phone brokering — connecting buyers and sellers of used phones. The sweet part? You don’t even need to own the phones. With trust and smart marketing, you can collect commission on every deal.
I broke this down step by step in my ebook “How to Make Money Selling Used Phones Without Capital.” If you’ve ever thought of selling phones but don’t have the funds, that book will open your eyes. It’s ₦2500 only when you pay through our website.
After successful payment, you’ll be redirected to download page and an email containing the download link will also be automatically sent to your email. If you prefer bank transfer pay ₦3000 to 7035521327 OPay Abdulbasit Biodun Abdulkadir but you’ll have to send proof of payment to 09025694952 before you can get the ebook.
Meanwhile, you can now get it for free when you enroll for the Phone Repair Business School.
Starting With ₦300k
At ₦300k, the game gets interesting.
Here, you can comfortably stock a good range of accessories (chargers, earpieces, power banks, screen guards) and still set up a small kiosk or shop corner. You’ll also be able to afford better-quality tools for repair, not just the basic ones.
This is where most serious beginners grow into. They have enough capital to look legit, but not too much to risk losing big.
With ₦300k, you can even combine two lanes — for example, doing repairs while also selling accessories in your shop. That way, when someone comes for a screen guard, you can upsell them a pouch. If someone comes for charging port repair, you can sell them a charger.
That’s the beauty of the phone business ecosystem.
Starting With ₦500k – ₦1 Million+
Now we’re talking about serious investment.
At this level, you can open a proper phone and gadget shop. You’ll be able to buy used phones, refurbish them, and resell. You can even import accessories directly instead of buying from local middlemen.
But let me warn you — if you jump to this level without understanding the smaller stages, you might burn millions fast.
Even if you have ₦1 million to spare, start small to learn the ropes. Test with ₦100k–₦200k before scaling up. That way, mistakes won’t cost you everything.
Pro Secret
Hidden Costs People Forget
When calculating capital, most people only think of stock or tools. But let me tell you some hidden costs that will still eat your money:
Branding (a simple banner or signboard makes you look legit)
Packaging (customers love when accessories come in neat nylon bags)
Marketing (Facebook ads, flyers, even TikTok videos cost something)
Rent (if you’re not starting at home or roadside)
These small things make a big difference in how customers see you.
The Smart Way to Start Small and Grow
Whether you have ₦50k or ₦1 million, the smart way is the same: start small, reinvest profits, and grow.
Don’t feel pressured to start big. I know people who started with a bag of screen guards and now run proper shops. I also know people who borrowed money, rushed into accessories and phone part sales, and quit within a year.
Quick Tip: Business is not about how much you start with; it’s about how wisely you grow.
Training Saves Money
Let me say this loud and clear: training saves you money.
When I started, I wasted cash on wrong things, wrong tools, and silly mistakes because I didn’t know better. If I had proper guidance, I’d have saved myself years of stress.
That’s why I keep telling beginners — if you’re serious about this business, invest in your knowledge first. That’s what the Phone Repair Business School and my ebooks are for. They shorten your learning curve and help you avoid mistakes that will swallow your capital.
Wrapping Up
So, how much capital do you need to start a phone business in Nigeria? The real answer is: as much as you have right now.
Even ₦30k is enough to plant a seed. ₦100k–₦200k makes you more comfortable. ₦500k–₦1M+ lets you play in the big leagues.
What matters is that you start smart, avoid mistakes, and grow step by step.
👉 If you want to learn repairs, check out the Phone Repair Business School.
👉 If you’re curious about used phone sales, grab my ebook “How to Make Money Selling Used Phones Without Capital” inside the school.
👉 If you want to master marketing for phone business, still join my Phone Repair Business School.
Capital is important, but knowledge is what multiplies it. Don’t just spend money, spend it wisely.