Trade-In Tech
by on January 8, 2020
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Feldon started his company, NYC Phone Buyer, less than two years ago and quickly grew to over $100,000 in monthly sales. He primarily focuses on buying smartphones, tablets, and computers from wholesalers and retailers in the USA.

 

Feldon has generated most of his revenue by being socially active on platforms like Facebook, eBay, LinkedIn, and Trade-In Tech. He provides coaching to his clients to help them grow and updates his followers with weekly price lists.

 

Here are a few questions we asked Feldon:

 

What type of mindset do you need to acquire to build a six and seven-figure business?

 

The transition from five to six-figures requires a lot of patience due to the inconsistencies when scaling. It is important to appreciate the little things that go right, as you will continue to face new obstacles that will challenge you.

 


How do you meet new buyers?

 

I find retailers and pawn shops using search engines to drive leads. I contact them directly and ask if they are currently buying inventory. If yes, I request inventory lists and provide my buying prices. I make sure to follow up weekly with all clients to maintain the relationship.

 


Where are you selling most of these devices?

 

I work with large wholesalers who want to buy in bulk. I've met most of my buyers by networking in the industry and following up with my leads. Each time I sell a phone, I make sure to save the contact information and follow up with my inventory list every week.

 


How were you able to scale to $100K per month?

 

I transitioned from buying from consumers to buying directly from business owners. I've found that the real profit comes from business owners. Business owners have to generate a profit to stay in business, therefore they become repeat customers and will help you scale quickly.

 


How long does it take to close a large deal? How long is your money tied up?

 

The turnaround time is around five business days. We primarily focus on purchasing on Monday, so we can receive the package on Wednesday, and then get paid and ship it out by Friday. 

 


What is your long-term piece of advice you can give us?

 

You need to build personal relationships with your clients to consistently grow your business. Building a network and maintaining relationships with vendors is the best way to scale your business.


Feldon continues to grow his business and work with some of the top wholesalers in the industry. Congratulations to Feldon Richards at NYC Phone Buyer for hitting the $100K Club!

 

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