Are Retail Mobile Phone Shops Profitable?
Go to any downtown or large mall in America and you’ll likely come across an independent phone reseller. These are often smaller family affairs or individuals offering refurbished or second-hand phones alongside accessories. They may provide some minor repair and other phone services in one store.
Selling cellphones is a popular choice for entrepreneurs. The barriers to entry are reasonably low. You’ll need a store to rent, preferably in a location with plenty of footfall, some stock, and a business and marketing plan. Compared to lots of other owner-operator businesses, for example, a fast-food franchise, the capital investment is relatively low. The market is growing. And return customers are likely given that consumers replace their phones on average between every two and three years.
While it’s true that more and more shopping takes place online, many people still prefer to make phone purchases in person. It’s often more convenient and useful to browse devices in a physical store and to talk to someone that can give expert advice. The transaction here is more of an experience. It involves a two-way conversation and confirmation from the start that the device you want is right for you.
Given the variety and number of independent phone retailers, industry data is hard to come by. Thriving stores, however, support the notion that phone retail offers a good living to those who can get it right and get the right support.
A store’s profitability will be based on the well-known “4 P’s” of price, product, place, and promotion. Place and promotion will be down to the choices and hard work of the business owner. A major reseller of refurbished phones, such as MyWiT®, can help with product and price.
How MyWiT can help
By signing up to our reseller program, you can take advantage of MyWiT’s unique offer and market-leading expertise. We’re one of the only companies that is certified by some OEM's to refurbish their phones, tablets and other small electronics. Manufacturers have strict requirements, and we meet all of them where we’re certified.
Every device you buy from us will have gone through a rigorous and unbeatable inspection, repair, and cleaning process. Our process involves 65 points, including testing the battery, screen, cameras, sensors, and buttons. If you buy phones elsewhere, you may risk selling a poorer quality product to your consumers, increasing the likelihood of returns.
Our expert technicians do this twice on a scale that means we can afford to comply with ISO:9001. We continuously improve and invest in the latest techniques and technology. This means that your consumers will get a phone that’s been wiped, tested, tested again, and repaired if needed using OEM components. You can be sure that you are selling a quality product that is unlikely to be returned.
We offer easy to use and convenient, responsive customer service to our resellers. We want you to succeed, so we aim to make everything as convenient, quick, and cost-effective as possible for resellers. Learn more and sign up today here.