Let’s be honest—if you live in Nigeria today, or anywhere in the world, one industry you cannot ignore is the phone business. Everywhere you turn, someone is either repairing a phone, buying a used or new one, selling accessories, or flashing phones. Why? Because phones are not luxury anymore. They are must have, just like food.
The good news is, there’s more than one way to tap into this industry. And no matter your budget or skill level, there’s a door you can enter through.
In this guide, I’ll break down the four main ways to make money in the phone business and how they all connect together. I’ll also show you how to avoid common mistakes, how much capital you really need, and how to start small but scale big.
And as you read, I’ll point you to extra resources—ebooks, courses, or guides—that go deeper. Because let’s be honest, one blog post can’t change your financial life, but one right decision after reading it might.
The Six Big Branches of the Phone Business
When people say “phone business,” they usually think it’s just sales of phone. But that’s just one branch. In reality, there are six major ways to make money:
- Phone Repair – fixing screens, charging ports, batteries, software resets.
- Phone Accessories – chargers, pouches, screen guards, earphones, power banks.
- Used Phone Flipping – buying, refurbishing, and reselling at a profit.
- New Phone & Gadget Sales – capital-heavy but with steady demand.
- Phone Parts Sales – selling screens, batteries, casings, charging ports, and other spare parts to repairers and customers.
- Teaching / Training Others – running physical or online classes, selling ebooks/courses, or mentorship programs in phone business skills.
For the sake of this post, we’ll only be talking about four. Let’s go deeper into each one.
- Phone Repair Business
This is where I personally started, and it’s still one of the most affordable to start with. The beauty of repair is that it’s skill-based. Once you know how to fix phones, nobody can take that knowledge away from you.
With repair, you don’t always need huge capital—sometimes just ₦10,000–₦50,000 for tools and a small workspace is enough. Your real investment is the training.
💡 Quick Tip: The fastest way to win in repair is to learn common problems first, like charging ports, screen replacements, and battery swaps. These jobs come every single day.
⚠️ Warning: Don’t fall into the trap of trying to learn “chip-level” repairs immediately. That’s where beginners get stuck and frustrated. Master the basics, grow your income, then upgrade later.
If you want to go into this path, I’ve broken everything down in my course, the Phone Repair Business School. Inside, you’ll learn step-by-step repair skills, how to get customers, how to charge, and even how to scale from freelancing to owning a shop. If you’re serious, that’s where to start.
👉 Later on, I’ll also link you to my post on Low-Cost Tools Every Beginner Phone Repairer Must Have (coming soon). That will save you from wasting money.
- Phone Accessories Business
This one is the silent goldmine. You’ve seen it—screen guards, chargers, earpieces, power banks. The truth is, these things move like pure water. Everyone buys them, and everyone replaces them.
But here’s a pro secret most people don’t know: not all accessories are equal. Screen guards, chargers, and earphones? Hotcakes. Power banks? Even hotter. But pouches? That one can frustrate you because they’re phone-specific.
Unless you stock widely, you’ll hear a thousand “Do you have pouch for my phone?” and you’ll keep disappointing people.
💡 Pro Secret: If you want to make real money in accessories, focus on fast-moving items and upsell bundles. For example, sell a charger + screen guard combo or power bank with a recommended charger. People love value packs. Or be a distributor not retailer.
The capital? You can start with ₦120k–₦500k, depending on your scale. But even at ₦50k, you can rotate stock fast and still make good profit.
If you want to dive deeper, I’ve written a full guide on this: How to Start a Phone Accessories Business in Nigeria. That post will walk you through sourcing, pricing, and even using TikTok and Facebook to sell.
- Used Phone Business (Flipping)
Now this one excites a lot of people because it’s where “quick money” lives. The idea is simple: buy a used phone cheap, fix or refurbish it if needed, then resell at a higher price.
For example, someone sells you an Infinix phone for ₦75,000 because they’re broke. You clean it up, maybe change the screen for ₦10,000, and then sell it for ₦100,000. That’s ₦15,000 profit on one phone.
✅ Pro Secret: The real money is in knowing where to buy cheap, how to fix the problem and where to sell high. And also, learning how to test phones properly so you don’t buy a dead device.
The best part? You don’t even need capital to start. I explain this fully in my bonus ebook, How to Make Money Selling Used Phones Without Capital. It’s a step-by-step ebook on how to broker deals, connect buyers and sellers, and collect your cut.
- New Phones & Gadgets
This is the “big boy” version of the phone business. Selling brand new iPhones, Samsungs, or even smaller brands like Tecno and Itel. The demand is endless, but it’s very capital-heavy. You’re looking at ₦5M and above to do it seriously.
That said, if you already have a shop and customer trust, adding new phone sales to your repair or accessories business can multiply your profit.
⚠️ Warning: This space is crowded with fake phones and shady dealers. Never rush. Always build trust first before putting big capital here.
A comprehensive explanation has been made in the Phone Repair Business School on the 6 major ways you can make money in the phone business.
How It All Connects
Here’s the beauty: these branches don’t compete with each other, they complement each other.
Imagine this: a customer walks in to repair their charging port. You fix it. While waiting, they buy a charger and a power bank. As you talk, you mention you also sell used phones. They leave your shop spending triple what they planned.
That’s what I call the phone business ecosystem.
And don’t worry, I’ll write a post soon on Phone Repair vs Phone Accessories Business: Which One Should You Start? to help beginners pick their entry point.
Capital Breakdown
₦50k – accessories (chargers, guards, earpieces).
₦100k – small repair setup + some accessories.
₦300k–₦500k – better repair tools, accessories stock, some used phone flips.
₦2M+ – new phone sales + shop branding.
💡 Quick Tip: No matter where you start, reinvest profits. Don’t chop everything. That’s how small kiosks grow into proper phone shops.
Mistakes Beginners Make
- Focusing only on what “looks fine” (like pouches) instead of what sells fast.
- Charging too cheap and looking unserious.
- Ignoring marketing—thinking customers will just appear.
- Buying fake accessories that spoil customers’ trust.
👉 I’ve expand on this in a separate post: Common Mistakes People Make in the Phone Business (and How to Avoid Them). That’s coming soon, so stay tuned.
The Future of the Phone Business
Look around you. Ten years ago, smartphones were luxury. Today, even secondary school students use them. That means one thing: the phone business will keep growing. Repairs, accessories, sales, there’s no end.
And the earlier you enter, the better. The industry is wide, but the opportunities belong to those who are ready to learn, ready to start, and ready to serve.
Final Word
The phone business is not a get-rich-quick scheme, but it’s one of the few businesses in Nigeria that gives you daily cash flow. Whether it’s ₦1,000 from a screen guard or ₦10,000 from a used phone flip, money enters your pocket.
Now the question is: which entry point will you take? Repair? Accessories? Flipping? Or will you combine them gradually into a full business?
If you’re serious, don’t stop at just reading this. I’ve put together resources that can guide you deeper:
My ebook: Phone Money: How to Turn Broken Phones into Steady Income
My ebook: How to Start Selling Used Phones Without Capital (perfect for flipping).
My ebook: Strategies to Grow Your Phone Business Fast
However, the Phone Repair Business School covers step-by-step training + business growth and all the above mentioned ebook will be given for free.
You can learn more about the school here.
Start somewhere today. Even if it’s just buying five chargers, learning how to replace screen, or connecting one buyer to one seller. Small moves compound into big wins.