Overview
Selling and reselling of iPhone is a very lucrative business, iPhone is a premium brand and as such a lot of people want to own one. In the US, people used iPhones for like 3 months and then change it, in this case, they sell them to others in the US and then buy another one.
Getting Started!
Goto websites like Digi Circle or eBay and search for the kind of iPhone you want, you can get an iPhone 6 for as low as $65
What Next?
Make an offer and then make a payment, if you have a relative in the US, they can ship your item to the person, however, there are services that allow you to ship items from the US or Uk to Nigeria and Africa in general. ShoptoMyDoor is one of those services, they can ship your items for you and you get it here in Nigeria within 14 days.
Cost of Startup
The only cost you incur is the cost of the phone and the cost of shipping down to Nigeria or anywhere in Africa
Marketing Strategies
Organic Method: If you are buying and selling, then you can get buyers even through words of mouth, you can also get buyers on Facebook, Facebook Groups, Twitter, and Instagram
Create an Instagram account, upload clean pictures of the iPhone with the price, post continuously for like 10 days, offer free delivery if you want.
Paid Advertising: With paid advertisement, you can sell at least 5 iPhones in one week, paid advertisement is a very effective way to sell if only you know how to do it.
Tips: To get great results, use both organic and paid marketing strategies.
Pros and Cons: Used iPhone Reselling Business: This is a very lucrative business. In fact, this is how dealers in fairly used iPhones get their items and sell them at a higher price here in Africa. But make sure you learn how to go about buying your iPhone.
GoodNews: The Founders Africa will be creating a complete and comprehensive guide on how to start this business soon.
Estimated Monthly Revenue: Depending on the number of iPhones you are buying monthly, this business has the potential of making you a profit of $100 on one iPhone
Let’s do a simple calculation.
$65 X 5 iPhones + $50 shipping = $375 (N168,750)
you can sell each phones for $160 X 5 = $800 ( N360,000 )
N360,000 – N168,750 = N191,250 pure profit
Estimated Monthly Cost: You should budget at least $100 for advertisement if you want to see great results.
