How to Start a Smartphone Resale Business
Thinking about buying and selling used smartphones for profit? There has never been a better time to start. Given the anticipated 30 percent growth of the smartphone industry over the next few years and subsequent demand for secondhand devices, there is huge potential to cash in. With a little secondary market know-how including: where to find used product, where to sell it and what pitfalls to look out for, you can be on your way to running a profitable business.
Here are some tips to think about as you embark:
Purchase directly from the source
By purchasing directly from the retailer or manufacturer, you can assume that 1) there is no liquidator involvement 2) there are no price mark ups and 3) that the retailer wants to move the inventory as quickly as possible.
The B-Stock Sourcing Network is a great resource for customer-returned, excess or previously traded-in wireless inventory from top retailers, manufacturers and buyback companies.
Ensure constant supply
It’s important to have enough product to satisfy the needs of your customers. Make sure that the vendor or marketplace you are sourcing from has a continuous supply of the inventory you need to keep your customers happy. Check out the following marketplaces that operate solely in the wireless space:
Purchase optimal quantities
Make sure you are purchasing the right quantity of phones for your needs. It’s typical that larger lots of devices have a lower cost-per-item but you don’t want to purchase more than you can sell.
Where to sell
Online marketplaces including Amazon, eBay, Craigslist all make great platforms. Be sure to take a close look at what your competition is selling and how much buyer demand exists.
Your own online store in the form of a customized ecommerce platform can help you stand out from the crowd; keep in mind you’ll need to implement marketing campaigns to drive buyer traffic to your site.
Finally, there is huge demand in emerging countries for used smartphones. If decide to sell overseas it’s best to offer large quantities (versus single units) to save time and shipping costs. B-Stock Supply is a great platform to sell bulk lots of wireless merchandise.
Whether a side business to make extra cast or an all-out entrepreneurial enterprise, buying and selling used smartphones can prove very profitable. For more information please visit sourcing.bstocksolutions.com or contact us.