Making money through business is usually the most excellent alternative. However, fantastic business concepts are hard to come by. Yes, that's the issue where I'm stuck and trying to develop some excellent ideas while staring out my window at huge corporate buildings.
It was a beautiful morning in December 2019, and the sun was shining brightly. Well, the chilly December morning was already sending me beautiful vibes when I reconnected with my friend after ages, who is the CEO of a large corporation.
That was the ideal moment for us to discuss and research some fantastic ideas, which, like liquid, will be in high demand in 2022. The experience was similar to when you attempt to find your way and nature, people, and even a stranger help you.
However, if you read this post, that golden friend and a great day may be waiting for you right now because I'm here to assist you with the ideas that I've picked up through my own mistakes and experiences. Since I'm sure, you're struggling with similar ideas or plans for new businesses, where are the liquid concepts that are constantly in demand?
So, pull out your preliminary business plan or a new page because I'm ready to tell you about the most acceptable business concept that is constantly in demand. And this business technique will always pay off for you.
Let's get started on making your day as successful as mine was...
The Idea: Reselling iPhones
In our nation, reselling phones is a very prevalent industry. Even though most individuals know the actual cost of technology, they do not want to wait until a consumer is willing to pay the total price for the phone. As a result, message boards frequently include proposals with an average or low price.
Phones are highly perishable items. Regardless of the season, there is always a need. More expensive models are sold just as frequently as those less expensive. All of this makes reselling phones a successful and rewarding business. iPhones, on the other hand, are a far more liquid commodity. Even older Apple phones sell rapidly and for a high profit.
As a result, many sellers wish to start their company with this brand's equipment. It's also a form of risk protection. If something goes wrong, you can easily resell the phones for their original price or a profit.
The earning strategy is straightforward:
- Examining classified advertisements for used phones (on eBay, Amazon, and flea markets in your area).
- Choosing an offer.
- I took part in negotiations (bargain as much money as possible).
- Place an ad on Avito and in the city of flea markets.
- On the price, everyone agrees.
Although it appears to be a significant phrase, it may be summarized in two words: "buy-sell." The following are the primary sales channels:
- Personal pages,
- Ebay,
- Social networking groups,
- Acquaintances
Everything hinges on your ability to sell. Phones may be swiftly sold, replaced, and sold again. One model typically sells in one to four days.
What phones should you buy?
If you want to do resale, you'll need a model that's both inexpensive and marketable. The best you can hope for is to get them to a marketable state (wipe, put in a case).
The most common models are as follows:
- iPhone X/XS/XR • iPhone 11/11 pro / 11 pro max • iPhone 8/8+ • iPhone X/XS/XR
How much should you invest?
In terms of initial investment, resale is a fascinating industry.
If you don't want to earn a profit "right now" but still want to make a lot of money, start with a bit of sum, such as $300. This is enough to make the initial profit, be burned a few times, and avoid going into significant debt.
It is better to instantly improve the turnover if you have already tried reselling items, understand the approach, and are familiar with the market. If you want to sell from home, you'll need at least $700 to get started.
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Obstacles to be Overcome
There are several challenges in this industry.
Before getting started: It's a good idea to research the ideas in your city, see if there are any rivals, and so on.
Due to the modest number of proposals received, there aren't many genuinely profitable offerings. To locate a decent alternative, you'll need to go over hundreds of offers for various procedures and speak with a few people.
Income: Compared to the amount of time invested, the profits from such a firm are incredibly minimal. This is not a "bought, advertised, and sold" situation. In truth, there's a lot more work to be done. And you may make $30-60 per phone profit.
Conclusion
It's a challenging and hazardous business to resell phones. You will not generate enough money unless you have sufficient initial capital, expertise, and the capacity to sell.