It’s never been easier to set up your own online business. In the pandemic, thousands of small businesses launched as people turned to alternative methods of making money. Brits started capitalising on passion projects and innovative business ideas that targeted a current demand in the market.
The pre-owned mobile phone market is one of the most profitable sectors to enter in 2021. This market is growing by a whopping 10% worldwide, and by 2022, sales of second-hand phones are predicted to be worth billions. If you want to set up your own used phone business, here are a few things to bear in mind.
Build an e-commerce site
You need a place online to sell your products. You could start off selling items on sites like eBay or Facebook Marketplace. However, these sites take a commission for every sale and enforce all kinds of regulations. If you want to make your business sustainable and profitable in the long run – you need to look at ready-made e-commerce platforms. Use Shopify, Wix or Weebly to make your own phone web store. The site doesn’t need to be complicated – just functional and easy to use.
You need to find a source for used mobile phones. Phoenix Cellular is Europe’s biggest supplier of pre-owned mobile phones and offers a convenient one-stop shop for popular brands. You can sell Galaxy Note’s, iPhone’s and much more – without the hassle of scouring individual marketplaces for used phones.
Set up payments
You need a way of accepting payment. Just add payment and transaction processing to your e-commerce site through a third-party service like PayPal. They do all the technical work for you and deal with the financial services. Simple!
Learn about tax
Retail laws apply to both online and in-store businesses. You need to comply with the UK retail regulations and learn about consumer protection and trading standards. These laws are updated to align with the growth of online retail. Stay up to date with your industry and keep an eye out for any major changes.
Promote your business
You need to reach out to your customers once your business is ready to launch. Your website needs to be seen by customers and grab their attention. You could use traditional forms of marketing, like flyers and posters or social media, to get your name out across the UK.
Set up your second-hand phone business now to get a foothold in the fast-growing market.