Trade-In Tech
by on January 3, 2020
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These days it’s pretty easy to find someone to buy your smartphone. Nearly every company including Apple, Verizon, AT&T, Best Buy, etc. will buy your used smartphone.

 

With over 3 billion smartphones in circulation, the electronics buyback industry continues to explode. Even computer repair companies are now transitioning to mobile repair companies due to the demand.

 

In this article, I put together three different ways you can start buying smartphones as a business owner or as a part-time side hustle.

 

1. Craigslist

 

The first place we started buying electronics was on Craigslist. If you are brand new to the industry, this is a great place to start. You can post “Want To Buy Electronics” ads on Craigslist and have people contact you directly to sell their devices. 

 

When you meet up with them, you will have to verify the condition, model, and current activation policy of each device. Make sure to meet in a safe and public location and have them sign a bill of sale.

 

2. Repair Stores

 

Once you understand how to buy from consumers, you can start buying from repair stores. The great thing about buying from repair stores is they will always bring you repeat business. 

 

The difference between a consumer and business is the business is required to pay rent and other expenses, so they must earn a profit to stay competitive. This gives you a great advantage because once you establish a relationship, the repair stores will constantly be selling to you.

 

3. Corporations

 

Ready to play in the big leagues? The most competitive industry is corporation buyback. Many large companies are fighting for the top position to buy directly from carriers, insurance companies, and large retailers. 

 

Once you establish a profitable business, you can apply to become an R2 recycler to gain access to corporate buyback information. You can start buying from carrier auctions, school districts, and large corporations that supply electronics to their employees.

 

These are three unique strategies you can use to build your wholesale electronics business. Since the demand is so high, it’s very easy to sell these devices. You can sell to wholesale buyers, retail stores, or online on platforms like Trade-In Tech, Swappa, and eBay. 

 

One last tip…make sure to be aware of price drops due to new phone releases.

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