With Brexit having become increasingly likely following the election of Boris Johnson, the concerns surrounding the German economy are deepening as 2020 approaches.
However, there’s no doubt that Germany is home to the most robust and resilient economy in the EU, and in this respect it still provides a viable location in which to launch your electronics repair business.
In this article, we’ll look at the basic requirements that businesses must adhere to in Germany, before asking what’s needed to create a successful electronics repair firm.
What’s Needed to Start a Venture in Germany?
Before you begin to structure and promote your electronics repair business, it’s important to meet the general qualifying criteria laid out in German law.
In simple terms, you need to be at least 18 years of age to register a business in Germany, whilst the law also states that you cannot have been previously banned from practicing the profession in which you intend to operate.
This type of prohibition can be imposed by courts after serious incidents or offences, usually following a period of litigation.
If you decide to register your firm, you need to declare your planned activity at either the German trade office (Gewerbeamt) or the tax office (Finanzamt). At this time, you’ll also need to determine how your business will operate, whether it takes the form of a sole trader or a limited company.
This will determine your tax liability and the precise amount that you’ll pay, and it’s important to ensure that you pay the right amount as a business owner.
How to Set Up an Electronics Repair Outlet
When it comes to establishing a successful electronics repair firm, you’ll first need to ensure that you target the right audience and ensure that your employees have the requisite skills to deliver specialist and in-demand services.
For example, it’s estimated that around 15% of the world’s iPhone users walk around with a cracked screen, whilst modern smartphones as a whole tend to be self-contained and difficult to repair.
As a result, your repair business should be equipped to undertake this type of task, as this will guarantee a steady income stream from your target audience.
With a clear audience and skillset in mind, you can begin to invest in the business and ensure that your engineers have access to the highest quality and most relevant tools.
If you’re planning on starting up a German electronics repair business, then you’re going to want to invest in the best tools you can possibly get. You should start by investing in universally useful tools such as soldering irons, which are sold widely by suppliers like RS Components and can be used to repair damaged components on circuit boards.
On a final note, you should also consider the pricing models that have been adopted by similar service providers in the area. Electronics remains a competitive marketplace (especially in Germany), so you’ll need to create a pricing structure that incentivised customers and also enables you to achieve a viable profit.
