How to Become an Authorized Verizon Dealer

Verizon Wireless is one of the leading wireless providers in the United States, with subscribers in the millions. As an authorized Verizon dealer, you will sell cellular phones and call plans as outlined by your dealer agreement. You will be responsible for adhering to Verizon marketing guidelines.

Difficulty:

Moderate

Instructions

Things You'll Need

• Investment capital

Become a Verizon Authorized Dealer

1. Gather information from a Verizon Wireless account manager. The account manager will provide background information, contracts and compensation agreements. The Verizon Wireless account manager will assess your past sales and business expertise. Verizon Wireless prefers, but doesn't require, that new authorized dealers have previous experience in the cell phone industry.

2. Get qualified by Verizon Wireless. Verizon will perform a credit check, as well as an inquiry into your personal and professional merits. The Verizon account manager will want to see a resume, which should include performance data. Verizon places an emphasis on an aptitude for generating sales. Your Verizon Wireless account manager will expect to see a detailed marketing plan indicating how you intend to market Verizon Wireless products and services.

3. Formulate a detailed business plan. Without a well-thought-out business plan, you will be rejected as an authorized Verizon dealer. Your business plan should show a financing plan, location and marketing strategy. Verizon Wireless doesn't choose locations for authorized dealers; location decisions are left to the discretion of the business owner. Verizon Wireless prohibits authorized dealers from running a business from home, and requires you to have a store location before it processes your application to be an authorized dealer.

4. Gather capital to finance your Verizon-authorized dealership. Verizon requires an initial investment of $25,000 or more depending on the inventory you choose to keep. Your inventory will be decided based on store size and credit-worthiness. As an authorized dealer of Verizon Wireless products, you may be approved to carry up to $100,000 of Verizon wireless products.

5. Have an attorney or financial adviser study all compensation agreements and contracts. Verizon Wireless offers its authorized dealers a flat fee compensation plan for call plans provided and cell phones sold. Verizon also offers its authorized dealers a shared-revenue commission based on number of plans activated and phones sold. Verizon usually handles all back-end operations such as customer service and billing.

6. Commit to learning and adhering to the Verizon Wireless program. As an authorized Verizon dealer you must master marketing methods, troubleshoot problems with cellular phones and ensure that your staff is properly trained.