Trade-In Tech
by on March 17, 2020
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Flipping phones for profit is something that can be done as part-time or full-time work. It can be a very lucrative business idea to make money flipping phones if you’re looking to start up a profitable business. However, there are some things you’ll want to learn before starting up a phone reselling company.

 

Buy Working Phones


You’ll want to make sure that the phones you are looking to purchase work correctly. Avoid purchasing phones that say they haven’t been tested or verified to work properly. Of course, if you are knowledgeable about repairing phones, you may be able to repair and resell them. In general, though, you’ll want to make sure you buy phones that have been tested and verified to work. If the listing for the phone you are looking to purchase doesn’t state it’s been tested and verified to work, you may want to contact the seller to ask them if the product is in working order.
 

The Importance of the ESN


The electronic serial number, or ESN, is also something you need to have verified as being in good standing before you purchase a used phone. If the ESN is bad, whoever purchases the phone will not be able to use it correctly. The ESN can be bad for any number of reasons. If the phone has been stolen, the ESN will usually be rendered inactive or invalid. If the previous owner owes a balance on the phone account, the phone company may have chosen to deactivate the ESN until the balance is paid in full. You do not want to purchase a phone with a bad ESN. There are many ways to verify that the ESN is good before purchase. It can be as simple as entering a few digits on a phone or even verifying the ESN through a website. If the seller cannot provide you with the ESN to verify its authenticity, you will want to pass on the purchase.
 

Make Sure They Will Bring a Profit


When looking to flip phones, you’ll want to have a good idea that you can make a nice profit on any phone that you’re wanting to flip. You need to figure out what the final selling prices are for the phones you’re thinking of selling. Making a profit is the whole goal of the phone flipping business, so figure out what amount you need to make per phone in order to have a profitable business model. Don’t just buy any old phone in hopes that you can make a profit. Researching what products sell for is key in any profitable business.
 

Make a List of Prices You’re Willing to Pay


If you have phone models that you’d like to frequently purchase for resale, you’ll want to create a buying list that has a list of prices that you’ll pay for the phones. Of course, this list can and should be updated in accordance with the prices that you can viably charge for the phones. Some things to keep in mind when making a purchasing list is that the condition of each phone can vary greatly. For example, a phone that has some superficial scratching on the screen might be worth a bit less than one that is in nearly perfect condition. When you make your list, make sure you state what condition the phone needs to be in order for you to pay the price that you state. If you are unwilling to purchase phones with superficial damage, you will want to state that as well.
 

Consider Purchasing Phones in Bulk


When you are looking to sell many phones for larger profits, you’ll want to consider buying the phones in bulk. Places like Trade-In Tech have sellers who are willing to sell working phones in bulk. Purchasing the phones in bulk can save you time versus having to purchase each phone individually. Saving time can equate to making more profit quicker. Trade-In Tech has many reputable, honest sellers, so you can rest assured that your purchasing transactions will be of the utmost quality. You can purchase in bulk online through their website at www.tradeintech.com.
 

Decide Your Selling Platforms


After you purchase the used phones in bulk, you’ll want to choose the platforms on which you want to sell the phones. Many folks shop on Amazon or eBay. Those are probably the two most popular platforms in which people will be searching for used phones. Each platform charges their sellers a bit of money for selling products on their site, so deduct those charges from any profit that you’ll make flipping the phones. You may want to list the phones that you’re looking to resell on various sites, but this can also get confusing as you need to keep on top of your inventory. For instance, if you sell a phone on eBay, you’ll need to remove the listing from Amazon as soon as possible. If you are flipping phones full time, this may not be a huge issue. However, if you are also working a 9 to 5 job, you may find it difficult to keep up with your phone inventory.
 

Find a Place to Store Your Inventory


If you live in a small apartment or have a roommate, you may have to find a place to store your phone inventory. There are many inexpensive storage options if you are looking to keep a bulk inventory of phones on hand. Typical storage facilities only charge a small amount of money per month in order to store items for people. You’ll want to make sure that any storage facility you choose is secure, however. Make sure your items will be under lock and key so that people aren’t able to break in and steal your items. Also, you’ll want to make a note of the storage fees in order to add them to the cost of selling the phones.
 

Have Fun


It can be fun to make money by flipping phones. You just need to be very knowledgeable and always willing to learn additional things in order to succeed.

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