Hi Nairalanders, i have some #500,000 in my bank acct. am thinking of going into mobile phone buz.But realy don't know if this line of buzness is still profitable enough to give me a 50% ROI in a month, if not what profit magin ? Secondly, should i import or buy from major dealers in Lagos?.Thirdly what brands of phones & price range should i go for?.Please any one in the house in this business with experience should share with me,thanks.

Well the ROI in phone business wont be much if you have a small capital like 500K ... Those who make good money from the business are large quantity dealers who sell at discount prices; thereby increasing their turn overs.

@ Mudorsis, thanks are u into this buz? If this amount is small what will likely be a starting level for a new starter?

Yea, it is one of the businesses which i am into... And i engage in it here in USA.. During the course of my phone business, i realized that i make mooore profit importing and selling the phones here in usa rather than in Nigeria...

However, you can still start the business with 500k in Nigeria, but DONT expect a 50% ROI in a month. The Nigerian phone market is very very competitive
Those phone sellers in the market sell with low profit margins.
Another advice for you is never you invest this 500k in expensive smart phones - you will definitely loose. Look for cheap android phones with superb specs on websites like Alibaba, dhgate, aliexprex, and resell the phones directly to end users. And you dont even need to rent a store!.... Goodluck.

^^^^ Thanks for that great insight Mudorsis.Can you imagin even imports to the USA of cell phones from Aliexpress is more profiting than to Nigeria. Pls more info is welcome from all,no '' little'' as it may be that's not needed,you might be saveing one from stupid & expensive mistakes.Lets keep it coming.