Do you know that you can make good money from selling cheap phones? A lot of Nigerians prefer to buy not too expensive phones. This is partly due to the economic situation of the country.
All you need to do to make money from selling phones is to know how to market what you are selling. You can sell in a store or you sell online.
How to start a phone business
Below are some of the ways you can make money from selling mobile phones:
Buy recycled cheap phones
In Nigeria, you can find a lot of damaged phones which they owners have abandoned. You can get this type of cheap phones to buy in popular markets in big cities in Nigeria.
You can also buy from your friends and family. A lot of people will even be happy to give you their old or damaged mobile phones free of charge.
Some traders even import recycled phones from the UK, US, India and other countries, they repair these phones in Nigeria and sell to people at premium prices. You can see a lot of recycled phones on eBay; you just need to get a shipper who will be willing to help you export them to Nigeria.
To make money from recycled cheap phones, you need to sell them to recyclers. There are a lot of phone recyclers scattered around the country. You can also repair some of the recycled phones and resell them at a good profit.
I know a young man who makes up to N500,000 every month by selling recycled phones in Computer Village, Lagos.
Buy used phones
Some phones are still in working condition but the owners may want to sell them or even give them away free of charge. You can target this set of people, buy their used phones and re-sell at profit.
You can also import used phones from developed countries and sell at good prices in Nigeria. Togo and the Republic of Benin are dumping grounds for imported goods; you can visit these countries to buy cheap phones you can resell in Nigeria for profit.
Import cheap phones from China
China is known as the haven for cheap hones worldwide. A significant percentage of cheap phones sold in Nigeria are imported from China.
China’s economic strategy is to manufacture cheap goods and export same to developing country. The economic situation in Nigeria has forced a lot Nigerians to prefer cheap phones.
This is a blessing to any smart businessman. You too can import mobile phones from China and sell them in Nigeria at good prices.
You do not need big money before you can start importing phones from China. You can go to Alibaba or Aliexpress, buy few phones, get Nigerian shipping agencies in China and ask them to help you ship the phones to Nigeria.
When you get the phones in Nigeria, you can then sell to people around you.
Sell cheap phones online
To sell cheap phones online, you need to design a website. You will also need to use digital marketing strategies to let people know about what you are selling.
If you want your buyers to pay on your website, you need a payment processor like Paystack.
Selling phones online can be lucrative as a lot of people will have access to the products you sell unlike having a physical store.
Open a shop selling cheap phones
You can also make money from cheap phones by selling from a physical store. You need to open your store in a busy location. This will increase your chances of selling a lot of phones.
Selling phones in cities and big towns can be very profitable.
Sell the spare parts of cheap phones
Have you visited a phone repair shop before? If yes, I am sure that you saw a lot of people coming in to repair their phones. Cheap phones are not that durable especially the ones imported from China, the owners are likely to visit repair shops within a few months of purchase of the phones.
You can make money by selling the spare parts of these phones. You can either import yourself or buy the parts from wholesalers in markets like the Computer Village, Lagos.
Phone repairs make good money. I know a number of phone repairers who make over N20,000 every day.
All you need to do is to set up your phone repair shop in a busy location. You also need to be very good in what you do.
Yes, you can make money from cheap phones if you implement the strategies I have shared in this article.