Start with buying and selling used mobile phones and tablets
If you are looking for business ideas that you can start with little money, little investment and good profits, Buying and selling used mobile phones and tablets is a good way to start. This, not to mention that it is one of the most profitable items on the market today, as these devices are used daily and its importance has managed to monopolize the trade.
With the rapid rise and growth of demand for phones and tablets around the world, a great business opportunity is being created that you can take advantage of, so here we will tell you everything you need to know to get started.
Let’s get started!
You can learn about the technology business here
Running a used phone and tablet business
The idea of this business is to sell second-hand phones and tablets, which we can acquire from private individuals. In order to buy, each device must go through a review process to determine, based on its use and condition, whether it is fit to be sold or not.
However, it is possible to start with different models. For example, we can open a shop to the public, where we have used phones and tablets for sale in showcases, along with a series of other complementary items, such as accessories, chargers, hearing aids, among others, that allow us to increase profits. However, if you plan to reduce costs as much as possible, you could consider selling them from an online store or social networks. It all depends on how you want to start.
Do I need a lot of money to get started?
The amount does not have to be much, later you can grow quickly or invest little by little. This will depend largely on the mode you choose, because if you open the store, you’ll have to invest in several teams to have available to customers, the rental or purchase of the premises, the windows, the conditioning of the place and other items for sale.
If you plan to start your business without having a physical location, then the investment will go to the purchase of phones and tablets, and online or physical promotion, to start the sale.
Why open a business like this?
Buying and selling used mobile phones and tablets is a good business, because many people cannot live without these devices, but only a few can afford the latest models and high-end brands that are the most appreciated and expensive.
And this is where this business comes in to offer people on a tight budget, an option to keep up with these types of products.
Requirements for selling used phones and tablets
It is key that as an entrepreneur in the technology sector, you have knowledge in the area. This implies knowing about the operation of these equipments, their brands, functions, storage capacity and other general aspects. This will be key not only to advise customers very well, but also to review and evaluate each one of those who intend to sell there.
Choose a modality to start your business. If you open a store to the public, it will be best to have at least one other person who knows about the subject and can sell the equipment. For the installation of this business, take into account the needs of the space to accommodate it in the best way.
Check the permits and licenses you need to start with the corresponding entity in your city.
Choice of suppliers – Who do I buy the equipment from?
It is very important to find a good supplier. You have several options, you can visit online classified sites such as Segunda Mano, Mil Anuncios, Mercado Libre or Ebay to see if certain models are used and can be bought and resold in your area. You can also buy from people close to you, family or friends, who want to buy a new phone but sell the one they have.
Learn about the market
Learn about the features of mobile phones and tablets. It’s easier to sell a used phone if you can highlight its features to potential buyers. Buyers will also have questions about the features, so make sure you are prepared to give the right answers.
How do I start my used phone and tablet business?
Doing market and feasibility research, knowing what the market trends are and their prices will allow you to familiarize yourself with the industry to start your business. You can start by visiting local retailers that sell these types of used and refurbished products.
According to the needs estimation according to the modality you have decided to follow to set up your business, it will be necessary for you to start making quotations that will allow you to form a number close to the investment capital you need. Keep in mind that for a place open to the public
you’ll need to make a major investment and also, supply the space.
How do I promote my business?
Advertise and make yourself known on online classified sites, place ads in high traffic centers, such as streets, road intersections, shopping malls, super markets, etc, make a clear description of the model and the state of the phone and the exact selling price.
Tips for getting started with used phones and tablets
Consider the price when buying a used phone or tablet, make sure you find the best deal in terms of quality and price especially because you are thinking of selling it later.
Check for defects, as used phones and tablets sometimes have defects that can affect the price, especially if it is a major defect. Check that the phone is not stolen, for which you can verify with the IMEI that the phone is not blocked. There are several websites on the Internet that provide this service for a small fee.
To increase customer confidence and achieve customer loyalty, offers guarantee on the equipment that takes for a while, may be subject to a few days where you make maintenance and free review, as this will allow the customer to feel more comfortable and confident with the phone or tablet you have purchased.
Weaknesses: one aspect that we should certainly take into account is that this type of business, especially with this type of equipment, is judged because some entrepreneurs have bought and sold both phones and tablets that have been stolen just to save money and buy more. As a result, it is a business that has been branded, so it is extremely important that you refrain from receiving any reported equipment.
This not only jeopardizes the trust of your customers and your own business, but also your peace of mind because of possible legal problems.
Pros: Buying and selling used mobile phones and tablets is not a difficult task, you just have to know where and how to get supplies. This type of business is a great way to earn some extra money in your spare time or as a home-based business idea, if you plan to open a store there and have a view of the public or you will sell them through a website.
On the other hand, it allows you to be able to adapt the business to your preferences and needs, since you choose how many teams to start with, how you are going to sell them and so on.
Allow these teams to continue to be used, enter one of the sectors with the highest profitability in the market and become your own boss with the project you start today.