If you don’t have one already, incorporate a good buy-back program for your customers. Presently, there is a lucrative market for used phones in good cosmetic and working condition. Read your customer, understand their needs, and offer them buy-back discounts for phones you can inexpensively fix and later sell at a hefty premium. Am I indicating that the future of repair business is in recycling? You bet.
As stated earlier, majority of phones that customers choose to get repaired are expensive when bought without any subsidies or financing. Thus, used phones such as Apple iPhone and Samsung Galaxy series, even when in bad cosmetic condition, have a strong overseas demand in developing countries. In fact, companies as big as Amazon are buying-back phones and selling them to recyclers who need consistent supply of such phones. As a repair center that has the opportunity to buyback these high in demand phones, you can either choose to sell them to
a recycler or explore the recycling industry yourself. I strongly suggest recycling these phones and exploring this growing industry that is yet to see its full glory.
Offer Cell Phone Financing.
Carry inventory of popular cell phone models and offer your customers the ability to purchase a newer device using financing options. Currently, there is a plethora of third party companies who are willing to provide reasonable financing options for customers with prime and sub-prime credit. In fact, most of these financing companies not only finance a new phone cost, but they also finance repair costs and any additional accessories customer purchases.
Recall the last time you either financed a car or any other item, do you remember the salesman tacking additional goods or services and explaining you that your out of pocket cost today will remain same? Perhaps, it does sound familiar. While
I am not a trained psychologist, I can still attest that customers spend more freely when their out of pocket cost is limited on the day of purchase. After all,if Apple can successfully market people, using financing options, products at a full retail price eliminating all subsidies, then so can you.
