May 1, 2023
Are you thinking about starting a business selling used phones? If so, there’s good news: the market for used phones has been growing every year since 2012, offering more opportunities than ever for motivated resellers to make a profit. Thanks to robust ecommerce platforms and reliable wholesale cell phone suppliers, resellers no longer have to stock large amounts of inventory or even have their own website to get started.
But what do you need to know to sell used cell phones online? First, you need to register your business and decide how much startup capital you can invest. Don’t forget to factor in costs like inventory, packaging, shipping materials, fees charged by marketplaces and storage space. You can keep costs down by storing inventory in your home, buying shipping materials in bulk, researching the best shipping options for resellers and choosing marketplaces with lower fees.
You’ll also need to budget your time to run your business, including packaging used phones, scheduling pickups or dropping off packages, listing new inventory and managing customer service. It’s also important to be aware of fraud, as ecommerce marketplaces typically side with customers.
To succeed in the business of selling used cell phones, you need to find a wholesale used phone distributor that can guarantee a consistent supply of high-quality devices. Leading distributors like TecHello Inc. get their wholesale inventory from major carriers and operators and have developed their own transparent and consistent testing and grading procedures so resellers can buy large quantities of phones online with total confidence.
One of the first lessons of selling used cell phones is understanding the cyclical “heavy” times for buying wholesale and selling devices in the consumer market. For instance, customers often trade in devices for about four to six weeks after the release of a new iPhone, leading to a spike in inventory. Conversely, people who are waiting to upgrade to the latest model will often hold on to their devices through the spring and summer, so you may want to stay on top of replenishing your supply leading up to the dry months to ensure that you’re not subject to a summertime shortage.
When it comes to selling your inventory, there are two main ways to get started: through your own storefront or through a third-party marketplace. If you’re trying to build an independent brand and build your own web traffic, it’s important to have an online storefront built by a developer with a background in ecommerce. Alternatively, you can list your used phone inventory on a third-party marketplace like eBay, Amazon or Swappa.
Ultimately, if you’re considering selling used cell phones online, be sure to do your research, understand your costs and find a reliable wholesale distributor. With the right strategy, you can tap into a growing market and build a profitable business.
Source: TecHello Inc