Repair business, fellas!
This is the 2nd part of our series on how to make more money at your repair shop.
The repair industry is evolving rapidly; staying ahead means exploring new streams for revenue. Let us dive into another lucrative opportunity today – buyback and trade-in programs.
According to the data collected, if we divide the revenue generated between device and accessories sales at a repair shop, 62% of revenue comes from device sales.
Another interesting factor is that the global market for used smartphones is projected to reach $109.7 billion by 2027. That’s a substantial market waiting to be tapped into!
So, attracting customers to your repair shop goes beyond just fixing their smartphones. Now, it’s more about offering them value-added services like buybacks and trade-ins.
So, what are the phones you should be looking to buy back and trade in?
Older cell phones mostly end up collecting dust in drawers. However, they still hold value. For instance, iPhones, Samsung Galaxy S Series, and Google Pixels are among some of the best smartphones with the best resale value.
To earn additional profits and boost your customer base, you can offer fair prices for these devices, refurbish them, and sell them for higher profit margins.
With RepairDesk, buyback widget, and trade-in module, you can streamline the entire process. You can make it effortless for both you and your customers. Offer instant quotes on used, working, and fully damaged phones or displays with pre-set buy prices. Add multiple trade-in items, and view your purchases and sales of trade-in items, making the process smooth and transparent.
Don’t overlook other gadgets like tablets and smartwatches as well. These can also fetch a good resale value and attract more customers to your lab. The trade-in of consoles and hearables has seen strong YoY growth, as consumers are beginning to recognize the resale potential of devices in these categories.
Educate customers about the benefits of trading in their old devices. They not only receive cash or store credit but also help reduce electronic waste and promote sustainability.
By offering buyback and trade-in programs, you position your phone repair shop as a trusted destination for preloved devices.
So, what are you still waiting for? Dive into the world of buybacks and trade-ins and watch your repair business soar to new heights!
Stay tuned for more tips. Until next time!
