Trends and Facts About Telecommunication Services
1. Nearly 52% of the World’s population has Internet access – that’s just under 4 BILLION people. Those numbers are heavily influenced by North America and Europe where Internet penetration is over 80% for each continent.
2. Phone repair is a major segment of the industry. IBISWorld estimates the yearly revenue of the cell phone repair industry at $4 billion, with an annual growth rate of 3%.
3. SquareTrade, a company that insures smartphones, reports “a cellphone in the U.S. breaks every two seconds.” Fragile LCD assembly, short battery life and other breakable parts also contribute to a stable market for smartphone repair shops. Tablet repair is also quickly gaining market share.
4. Beyond mobile device repair and maintenance services, prospective franchisees can also choose from franchises that provide training or education, marketing support, gaming, or even security initiatives.
5. One of the advantages of choosing a franchise instead of independent operation is brand recognition in a buying situation that requires trust. Franchisees also enjoy the added benefits of marketing support, and sometimes lead generation from a central call operation center.