Trade-In Tech
by on June 18, 2020
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Many people have started their own businesses by flipping other people's phones. If you've heard of house flipping, you can probably imagine what phone flipping is. Phone flipping means to take a phone that's either broken or in bad condition when you receive it and fixing or flipping it to a better state. After you fix the phone, you're able to sell it back to the public or the person who brought the device to you. Considering the popularity of these devices and the return on investment repair professionals make, it's understandable to want to learn about entering into this type of profession. Here are five incredible ways to start a business flipping phones.

 

1. Find Phones to Buy From Repair Stores & Wholesalers

 

To start your business off quickly, it's a good idea to consider finding phones to purchase from repair stores and wholesalers. This is important because these types of people and companies should have access to phones in all sorts of conditions.

 

Don't worry about running out of places to purchase phones, there are plenty of them out there. For instance, many new buyers might start by purchasing a couple of phones to flip on Craigslist. You'll need to put in a bit of time and effort to find what you're looking for. But it should be fairly easy to find phones in the condition you're wanting.

 

However, there are also other places to purchase phones in your vicinity. You can find them by searching for local repair shops. These types of shops get phones in a wide range of conditions. You're not always going to get a shop owner that's willing to strike up a deal. But, when you find someone ready to partner with you, it can mean that you'll have plenty of phones to flip.

 

Another great source for finding phones to flip is by partnering with wholesalers. These types of partnerships are usually struck up through in-person or online channels. Depending on what type of merchandise and conditions they specialize in buying, this is a great potential way to find lots of phones in the condition you're seeking.

 

2. Test Phones Properly Before Purchasing

 

It's important to note that not every person trying to start a phone flipping business wants completely non-functional phones. If your specialty is repairing smartphone screens, you probably don't want a lot of 500 phones with internal CPU problems. So, make sure that you're purchasing phones you're able to repair.

 

If you want to test your skills at practicing new repair skills you've recently learned, it's best to do this with smaller lots or by purchasing a few damaged phones at a time. As your skills and the number of smartphone problems you can solve increases, you can purchase even more lots of phones to flip.

 

A phone's condition isn't the only thing you want to be aware of. Also, watch out for phones that might be stolen or locked. These aren't physical types of locks, but a software that "locks" a phone from being used in a normal way. This type of lock turns a valuable smartphone into a piece of plastic that no one is going to buy. There are a few common reasons why phones are locked including:

 

Locked for payment reasons: This type of lock takes place because someone is making installment payments on a phone and still owes money towards it. If they get too far behind, the phone carrier places a lock on this device.

 

Activation locks: These locks happen when software protection services like iCloud's lock go into effect.

 

Blacklisted phones: The last reason most phones become locked is that the owner reports them as lost or stolen. To avoid a stranger having access to this person's information, carriers lock the phone and make it inaccessible. Locking the device also makes it impossible for someone to get value out of selling stolen goods. As you probably know, selling stolen goods can get you in a lot of legal trouble.

 

Don't let that last paragraph discourage you. Fortunately, there are many safeguards in place on major online platforms that help prevent this from happening. To further avoid this problematic situation, always keep an eye out for seller/buyer reviews and ratings. You can also lower your chance of dealing with scammers by finding the electronics you're looking for on the Trade-In Tech Marketplace. Before becoming a member, we ensure each person completes our verification process and provides industry references.

 

3. Recondition Phones to Increase Value

 

A key aspect of flipping phones is being able to increase the value of these items. There are many ways to accomplish this goal. But, you'll want to start by reconditioning phones using the skills you already have. Several common phone reconditioning methods include repairing screens, headphone jacks, phone buttons, and solving battery-related issues.

 

What's great about being able to recondition phones is that it's an excellent way to make money. As you learn various types of repair skills, you're also increasing the types of phones you're able to flip. There are a few general features that affect a smartphone's resale value. By keeping a close eye on phone features, you won't make the mistake of reselling a phone for less than it's worth.

 

Make sure to keep an eye out for smartphones with larger memory capacity. For instance, a 256GB iPhone X will sell for more than one with only 64GB of space. It's also a good idea to take note of which phone colors, some of which are rare, command more value than others.

 

4. Resell on eCommerce

 

Now that you're beginning to obtain smartphones and recondition them, you'll need somewhere to sell these items. Thanks to the popularity of the internet, you can find plenty of places to resale phones on eCommerce websites. These are websites that allow the selling (and sometimes purchasing) of goods.

 

Sure, you could try to resell items locally. However, this often means spending lots of money towards having physical retail space and getting your company's name out there. To save time and effort on those tasks, it's much wiser to do all of this online.

 

When it comes to entering the world of eCommerce, you can create a website to achieve this goal or become a member of other, already established eCommerce websites. If you have the know-how, time, and patience, you can find a profitable future through reselling phones through an eCommerce website you own. For those who don't want to wait weeks or months to start making a profit, it's best to set up a virtual shop on larger eCommerce platforms like Trade-In Tech.

 

5. Expand Through Multiple Channels

 

After starting any type of business, it's important to make sure that it effectively expands. One of the best ways to do this is by expanding through multiple channels. In the world of marketing, a channel is simply a term for an approach you take to get your business noticed. A few popular types of channels include eBay, Amazon, Walmart, NewEgg, Trade-In Tech, and more.

 

The main benefit of multi-channel marketing is that your company stays visible in the minds of the public, especially your target audience. Imagine that you're looking for a place to purchase a new car. To do this, you begin using search engines and social media for research purposes. During this process, you see one company that seems to show up everywhere. They have social media pages, a great looking website, and they're showing up in almost every search you make. Most likely, this is going to convince you that this company is more of an authority in their field over the competition. This is multi-channel marketing at its best.

 

One of the best ways to start a multi-channel marketing strategy is by embracing the importance of being mobile-friendly. After all, 80% of smartphone owners use it to access the internet. You can do this by making sure that your website loads well on mobile devices, meaning it's fast and easy to navigate.

 

Another tip for channel expansion is to always engage with your online audience. Whether it's on social media, website comments, or somewhere else, always let your audience know that your brand is there for them.

 

Key Takeaways

 

In closing, you'll find that there are several ways to start a business flipping phones. If you're looking for more help with starting your own phone flipping business, we highly recommend you consider visiting Trade-In Tech's blog. We keep this updated with lots of resources, interviews with industry professionals, and lots of other content you don't want to miss.

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