There is a seemingly endless amount of electronics out in the world. If you're an electronics reseller, you don't want to spend lots of time and money purchasing items that aren't profitable. After reading this helpful guide, you'll understand what electronics people want to buy and how much you can expect to get for them.
Some people even started buying and selling electronics as a side hustle and then grew this into a profitable business.
So, how do you determine if buying and selling electronics is right for you? We’re here to help you by looking at reasons why it’s beneficial to buy and sell electronics.
In this post, you’ll learn about the:
Differences between new, used, and refurbished electronics
Factors affecting the value of electronics
Many reasons you should consider reselling electronics
Most popular electronic categories
Best electronics to resell for the most profit
Greatest places to resell your electronics
How to effectively ramp up your sales
Refurbished vs New vs Used Electronics
As an electronics wholesaler, there’s no denying that you have lots of options when it comes to obtaining inventory. Considering that, you might be wondering more about whether it’s beneficial to buy new, used, or refurbished electronics. Here are the main differences between refurbished, new, and used electronics.
New electronics shouldn’t need any type of repairs or cleaning. However, they are also going to cost quite a bit more than most used or refurbished electronics for sale. The advantage of new electronics is that demand will be quite high for these items. It’s also generally easier to not worry about any condition issues while purchasing new electronics.
Used electronics are devices that have been previously owned by a person or business. These types of electronics come in a wide range of conditions. You can find used electronics that look like they came off the factory floor. In other cases, used electronics can range from being a little or extremely damaged.
Refurbished electronics must receive repair work, restorations, a cleaning, and anything else needed to restore them to a like-new state. Many wholesalers love finding refurbished electronics for sale due to their high resale values. Even after partnering with a refurbishing company, these types of electronics can provide you with plenty of profits. Also, refurbished electronics are always attractive options for buyers on tighter budgets.
What Factors Affect the Value of Electronics?
If you're going to resell electronics, it's important to note what factors affect your potential profits.
First, you'll want to make sure you're purchasing electronics with clean ESNs. This means that these items, after being activated, are ready for consumers to use. Without a clean ESN, it's possible that the items you're trying to sell either aren't fully paid for or possibly stolen.
Another important factor is the condition of what you’re buying or selling. If they're purchasing something that isn't new, consumers might expect a bit of wear and tear. As a reseller, it's imperative to let consumers know the honest condition of items you're selling. To accomplish this task, it's best to include lots of clear photos in your item listings. Also, make sure you write detailed information about any condition issues you come across.
You'll also want to check what features your electronic items have. For instance, many consumers will pay more for smartphones, tablets, and laptops that include lots of storage space. You'll also find that electronics with larger screens tend to bring in more profit than those with smaller screens.
Another helpful tip is to research the market value of anything you plan on buying. Doing a bit of research in this area can help you from buying electronics that have little to no value.
Imagine that you were about to spend lots of money purchasing bulk quantities of iPhones. Without doing proper research, you order what you assume to be the latest iPhone generation. But, before your shipment of iPhones arrives, you learn that Apple is now releasing a newer iPhone.
Sure, you’ll still be able to likely obtain a profit from selling older iPhones. However, if you had done proper research, you’d realize that the resale value of the iPhones you have will now drop sharply.
9 Reasons To Resell Electronics for Profit
It’s understandable to be on the fence about starting a new type of business. However, there are many beneficial reasons to resell electronics. With that in mind, here are nine beneficial reasons to start buying and selling electronics.
1. Being in an Evolving, Advancing, and Popular Industry
Think about how technology has changed for the better over the years. Computers now have more effective and faster processors; they complete tasks much quicker than they did in previous years. Monitors have greatly improved display quality. Laptops have become significantly more mainstream than they once were. People now have access to things like security doorbells.
Technology doesn’t stop progressing, and it progresses relatively quickly. Because technology evolves so quickly, potential customers are always looking to purchase the most upgraded technology they can for their money. This is good news for when you want to start reselling electronics. You should have no shortage of customers wanting used and refurbished electronics from your business.
There is an endless supply of potential items in the world to consider selling to people. With that said, some types of items are much more popular than others. If you’re going to spend the time and effort to find products, it’s smart to work in an industry with lots of demand. Fortunately, the consumer electronics industry is incredibly popular. The popularity of this industry means you’ll rarely worry about product shortages.
2. Numerous Products Available To Make Money
When business-minded people think of the number of electronics options they will have available to resell, they often think of computers, cellphones, and tablets. However, many people do not consider the full spectrum of electronics they can sell in their stores.
Stocking an array of used and refurbished computers is wise, and you will want to carry many various cellphone models in your store. However, also consider carrying used or refurbished:
Printers
Copiers
Drones
Cameras
Home security systems
Accessories
Power supplies
and monitors
You do not want to overstock your store with things that will not sell well, however. The best practice is to do a test run by purchasing a few items you think customers may want. This will allow you to see if the demand is there for such products before purchasing a greater quantity of those items.
3. Having Access To Wholesalers and Manufacturers
When you start reselling electronics, your state may require that you apply for and receive a tax identification number, otherwise known as a TIN, for your business. Once you are sent this number, you will likely be able to access various wholesale and manufacturer pricing lists and order forms online.
Being able to access wholesale and special manufacturer pricing creates a whole new playing field for your business. When you can access such lists, you will likely find that your business profits will increase greatly. The discounts that wholesalers and manufacturers offer on their goods can vary greatly, but you need such discounts to increase your business’s profit margin.
You may also notice that wholesalers and manufacturers will offer steeper discounts if you purchase greater quantities of the products that they offer. This is another perk of becoming an electronics reseller. Unless a consumer has a TIN, they won’t have access to such great wholesale prices on electronics.
One good thing about working with wholesalers and manufacturers is that they tend to be very trustworthy. Of course, you’ll want to make sure any wholesaler you want to work with has a good reputation. Checking reviews and asking the wholesaler various questions can help you determine whether you want to deal with them.
Some wholesalers offer package discounts if they have a lot of one particular product they want to sell quickly. For instance, a wholesaler who has an overabundance of a certain model of cell phone in stock may want to clear out a large quantity of that particular model of quickly. To do so, the wholesaler may be able to offer you a substantial discount if you purchase the quantity that they have in stock.
4. Ever-Increasing Pricing and Demand
How much money did you pay for your first computer or first cell phone? If you can recall approximately how much you paid for those items, you will notice that the price of such items has largely increased over time. For instance, consider how much Apple and Samsung currently charge for cell phones.
In most cases, a new cell phone costs what laptops used to cost years ago. Some new laptops can be as expensive as a used car if you require certain quality specifications. Consumer electronics continue to climb in price, and there’s no sign of them going down in the future.
The demand for quality electronics is certainly not stagnant. People of all ages, young and old, need electronics to keep up with society. Children use tablets to play games and complete schoolwork. Adults use various forms of electronics in their lives. The elderly population wants to use electronics to keep up with technology as well. No matter where you live, technology is very important in today’s society.
5. Buying Low and Selling High
In the business world, company owners know the importance of purchasing goods at a cheaper cost than what they sell them for. You’ll be glad to know that reselling electronics is one of the best ways to make money. Many successful business owners have grown their companies by buying electronics in a used state, flipping them, and making lots of revenue.
6. Having More Options
Throughout life, it’s important to have lots of options. If you specialize in only selling new electronics, it can sometimes be difficult to get the exact items you want. However, reselling electronics means you can start purchasing a wider range of electronics. By working with wholesale suppliers of refurbished electronics, it can help increase your chances of making more sales.
7. Receiving Warranties
It’s understandable to feel like you’re assuming lots of risk by purchasing refurbished electronics instead of newer devices. Fortunately, you’ll be glad to know that certain refurbishing companies provide warranties that guarantee how long the device will remain operational.
However, not every refurbisher offers warranties. Also, the cost and length of a refurbished device warranty vary based on what company or refurbisher you’re working with. However, refurbishers offering warranties to back up their work provide business partners with peace of mind they can pass on to customers.
8. Easy To Get Started
There’s no doubt that some types of businesses are easier to start than others. To begin working in certain industries, you’ll need to buy space and equipment. Fortunately, you don’t necessarily need to buy a lot of extra space or machinery to get started in the wholesale electronics industry.
Unless you need to find a commercial space to sell your items or store inventory, you’re also looking at incredibly low overhead costs. All you need to spend money on is the electronics you want to buy.
9. Getting To Be Your Own Boss
Another beneficial reason to resell electronics is that you get to be the boss. You can choose where you want to work, which is great for someone longing to spend more time at home. It’s also great for people that want to escape the boss they currently work for!
Setting your own hours is also a good idea for people with busy lives and lots of commitments. Plus, by reselling electronics for profit, you get to experience the joy of starting a business and watching it thrive.
Popular Types of Electronics to Resell for Profit
There are many types of electronics you can begin reselling. But which ones do people want the most? You don’t have to spend hours or days researching what you need to start selling. Let us answer this question for you as we take a look at some of the most popular types of electronics.
Smartphones
Research shows there are nearly 3.5 billion global smartphone owners, a total that’s only expected to increase as time goes on. With this device being so popular and seen as an essential item by many, flipping cell phones is a great way to start making lots of money.
When you are looking to resell electronics, reselling smartphones just makes sense. Most people own a smartphone or know someone who does. These devices can perform a wide range of functions, including making calls, sending messages, accessing the internet, and much more.
Also, because new smartphones are very expensive, many people look for deals on them. After all, who would want to spend $2,000 for a new smartphone when they can find one that’s almost the same for a fraction of the price?
It’s generally best to find newer smartphones. However, older smartphone models can still bring in lots of profits. Considering how many types and generations of smartphones on the market, resale values can vary quite a bit.
Some of the most popular smartphones remain devices made by Apple and Samsung. However, Google’s smartphones are also having success in this industry. Also, make sure you take time to occasionally research new smartphone releases. Finding a valuable smartphone before the rest of the world does can mean big business for your company.
Tablets
As the popularity of smartphones began increasing, technology companies were quick to notice this. Soon, these companies released devices called tablets. These devices were able to combine the sleek convenience of a smartphone with the power of a computer. Unlike smartphones, tablets typically feature much larger touchscreens.
Many more people have tablets than ever before. Children use tablets to play games and do their homework. Adults use tablets to surf the internet and work from home. The elderly use tablets to email and Skype with their grandchildren.
Apple’s iPad remains the leader of the pack in terms of tablet sales and overall popularity. This is something Apple is well aware of, considering this company has come out with the iPad, iPad Air, iPad Pro, and iPad Mini.
With that said, Apple isn’t the only company that manufactures tablets. You can find lots of popular tablets to resell from Amazon, Samsung, Lenovo, and Microsoft.
Computers
When it comes to wholesaling computers, you have two options: laptops or desktop computers. Most wholesalers tend to prefer laptop computers because of their smaller size. It’s also easier to test laptops, considering that everything you need is within one unit. This also enables wholesalers to test laptops faster than desktop computers.
With that in mind, there are many types of valuable laptops on the market. Popular brands of laptops include those made by Windows and Apple. Speaking of Apple, this company’s signature laptop, the MacBook, is popular among both buyers and sellers.
Like Apple’s iPad, this company’s MacBook is available in a few different styles including the base model, the MacBook Pro, and the MacBook Air. As it is with smartphones or computers, Apple is far from the only major company in this industry.
When you’re looking for the best laptops to resell, look for items made by Microsoft, HP, Acer, and Dell.
Smartwatches
Many companies work to make technologically powerful devices as small as possible. Considering that, it should come as no surprise that smartwatches became a massive hit. Smartwatches tend to feature similar types of technology found in both smartphones and tablets.
Not only can smartwatches do lots of things, but they’ve also become somewhat of a fashion statement. Considering that, combining fashion and technology has led smartwatches to become hot sellers throughout the world.
Apple remains the leading manufacturer of smartwatches throughout the world. The Apple Watch is also popular among wholesalers because they love the resale value of these devices. Samsung, one of Apple's notable competitors, also recently launched a line of stylish smartwatches.
Cameras
Have you seen the price of decent quality DSLR cameras? Many people looking to get into photography just can’t afford the cameras they need to get started. Considering that, providing refurbished cameras to people at a reasonable price can provide your business with great profits. Cameras are some of the most profitable electronics to resell.
Selling camera lenses is also a great idea. Many photography aficionados want to try different lenses, but they don’t always want to pay top dollar to upgrade them.
A few of the most popular camera brands are Sony, Canon, Olympus, and Canon.
IT Equipment
Many people looking to start up their own business or organization may desperately need adequate IT equipment. However, they might not be able to spend a lot of money on such items. When you can carry such things as servers, modems, routers, and other devices in your online store, you can properly serve the segment of customers who need to purchase IT equipment at reasonable prices.
Home Technology
How many people do you know who would love to try Google Home or Alexa? Many people find these products fascinating, but they likely don’t enjoy paying full retail prices for items that they may just want to try out. Having a refurbished stock of such home technology in your store can be beneficial.
As companies continue manufacturing these items, it appears the popularity of home technology is just beginning. Considering that, it looks like these items will remain some of the best electronics to resell for profit.
If you want to offer more inventory to your customers, it might also be wise to check out home security cameras. In the past, home technology used to be bulky and cumbersome equipment to buy and install. However, there are now companies like Zoom and others that make it much easier for consumers and companies to keep their properties safe.
Repair Parts
Throughout the massive electronics industry, many professionals and companies need to purchase repair parts to continue doing their jobs. What types of repair parts can you make a profit by reselling? Considering the many parts that make up a smartphone, there are many profitable ways to make money reselling phone repair parts.
One of the best ways to make a hefty profit is by reselling LCDs or replacement screens to electronics wholesalers, repair companies, and other types of similar businesses. You don't only have to find, buy, and resale LCD screens for iPhone and Samsung phones. Consider expanding your network of potential customers by reselling screens to companies that work with Motorola, ZTE, HTC, and other smartphone companies.
People love to tinker with their own electronics when they’re looking to save some money on repairs. The cost of labor for repairing electronics can be huge, so lots of folks like to buy parts to repair their own devices. You’ll want to keep an adequate stock of parts for screen repairs, cellphone repairs, and computer repairs in your online store.
You can also resell replacement phone cameras, SIM trays, charging ports, and many other types of electronics accessories that need replacing from time to time. If it's profitable enough to pursue, you can also make a tidy profit by reselling extra phone repair tools you're not planning to use.
Cases and Accessories
Many people need the latest and greatest decorative or protective cases for their phones. They also often need to purchase additional charger cables and other accessories. If you sell discounted cases and name-brand accessories, you’re likely making a smart business move.
When it comes to these types of accessories, there is a staggering amount of products you can potentially resell. If you're wanting to focus on the personalization side of things, you can easily have a profitable business by reselling protective phone covers, grips, stands, styluses, and many other items. By reselling these types of accessories, you're allowing people to personalize one of their most prized possessions.
Other types of popular smartphone accessories include headphones, adapters, mobile gaming accessories, SD cards, speakers, and virtual reality headsets. And, unlike with smartphones, the condition of these items isn't as much of a factor since most of them are brand new.
The Most Profitable Electronics To Resell
If you're looking for a way to start generating lots of income, it's important to think about reselling electronics. After all, this incredibly popular industry shows no signs of slowing down. With that said, certain types of electronics are more valuable than others. Fortunately, we're here to help you learn more about which types of electronics are worth the most money.
iPhones
When it comes to smartphone sales, Apple's iPhone remains an industry leader. Since debuting in 2007, Apple's iPhone helped pave the way for a new type of mobile phone. Since this time, the iPhone remains one of the best-selling smartphones of all time and spans over 10 generations.
The iPhone is one of the best electronics to resell for a few reasons. Apple has a yearly release cycle that introduces a brand new model to the market. Thanks to the smartphone's role as a status symbol these days, consumers are always looking to upgrade.
Apple's iPhone helped pave the way for a new type of mobile phone. Since this time, the iPhone remains one of the best-selling mobile phones of all time. Considering the popularity of these devices, Apple releases these items in generations.
Plus, with the high price tags that come with Apple devices, you're looking at a healthy profit reselling these electronics. These devices also hold on to their resale value, making buying and selling iPhones a profitable thing to do.
Also, iPhones are built well and can accept software updates for several years after release. As a result, businesses and consumers can use these devices for years without paying full price for a brand-new model.
Several important factors affect the worth of an iPhone. One of the biggest factors is what generation and model you're trying to resell. As you likely know, you can make a much higher potential profit by selling a brand-new iPhone than one that's five years old and previously owned.
iPhones also offer varying amounts of storage. While iPhones with more storage capacity cost more, they also provide a higher resale value.
Samsung Galaxy Phones
There are also many popular smartphones made by one of Apple's largest competitors, Samsung. Considering that, many resellers can make quite a nice living by finding and selling Samsung Galaxy phones. Like the iPhone, newer Samsung Galaxy models tend to bring in more profit than older models.
The Samsung Galaxy is one of the most popular smartphones on the market today. It’s also one of the best electronics to resell. Like Apple, Samsung releases new models every year. It also holds a decent chunk of the smartphone market share. These phones also do a great job of holding onto their resale value.
When looking for the most profitable Samsung smartphones to resell, as it is with Apple, newer smartphones tend to bring in more money than older ones. Also, look out for Samsung smartphones with large amounts of memory and other features.
iPads
In addition to smartphones, mobile tablets are other types of electronics that resellers love. By having larger screens and lots of storage capacity, tablets offer lots of functionality. Also, tablets remain popular with consumers all over the world.
After the immense popularity of Apple's iPhone, this company set out to create a bigger version of this device. This invention became known as Apple's iPad, which would bring about the rise in popularity of tablets. With that in mind, iPads are extremely profitable electronics to think about reselling.
There are lots of iPad variations. You'll find certain iPads that offer more storage capacity than others. Generally speaking, iPad Pros will resell for more than Mini or base models.
When it comes to reselling iPads, you can make a lot of profit with these items. As it goes with almost all types of electronics, newer generations will provide you with higher resale values.
Lenovo Tabs
If you don’t want to buy and sell tablets from Apple or Samsung, it might be worth checking out tablets from Lenovo. These sleek and stylish tablets continue to sit alongside powerhouse companies like Apple.
The Lenovo Tab has been available for quite a while. Also, like Apple, this company’s tablets are full of great features. You’ll find that these tablets have amply sized screens, front/rear cameras, fast processors, wireless internet connectivity, and superior graphics.
What makes reselling Lenovo tablets great is that they’re less expensive than a brand new iPad. While you might make fewer profits selling Lenovo tablets, it might be easier for you to find and buy these items if you’re new to wholesaling.
HP Laptops
Chances are, you’ve seen many HP laptops. These laptops are great for people that prefer using a Windows-based operating system, don’t want to spend a ton of money on a MacBook, or both. Laptops from HP provide the power and features needed for numerous personal and professional projects.
Whether you’re selling to companies or consumers, HP laptops have everything that your target audience needs. From the Pavillion to the Envy, HP’s laptops are popular and loved by many people.
MacBooks
We've spoken a lot about mobile-based technology. With that in mind, many people consider the laptop to be the originator of technology that you could take anywhere. Considering the popularity of remote work, it's no wonder that the laptop continues to hold its own against the popularity of desktop computers. Laptops are also popular because they're lightweight and don't require much in the way of assembling.
Apple’s MacBook has been around longer than the iPhone. The MacBook is everything that tech-lovers dream of. It's a sleek and sophisticated laptop that's built to last. Ideal for students, creative professionals, and anyone who wants a reliable computer. To put it another way, MacBooks are big-ticket items.
Certain consumers want to have more computing power than smartphones and tablets provide. Many people purchase MacBooks to achieve this goal, which is Apple's line of sleek and functional laptops. Generally speaking, MacBooks are going to be slightly harder to find than iPhones and iPads. But, the profit these items bring in makes tracking them down worth it.
MacBooks bring in big bucks for resellers. If you want to get the most profit, consider buying and reselling the MacBook Pro. The MacBook Pro offers the most memory, storage, and processing power of all of Apple's laptops. As with other types of electronics, condition and functionality are two important factors when reselling these items.
Canon Cameras
Canon isn’t the only company manufacturing and selling DSLR (digital single-lens reflex) cameras. However, Canon is definitely one of the companies leading camera sales. Sure, most smartphones and tablets can take great pictures. With that said, tablets and phones can’t quite match the image quality that DSLR cameras provide.
Another thing that’s great about reselling cameras is that you can also carry the expensive accessories that photographers need. You’ll find many popular camera accessories, including camera bags, tripods, lenses, and much more. Some of these items can retail for hundreds or thousands of dollars.
Google Pixels
Apple and Samsung aren't the only two companies manufacturing and selling popular electronics. Many resellers can receive excellent profits by purchasing Google Pixel smartphones. This company hasn't been producing smartphones as long as many of its competitors. However, these phones offer lots of unique features that make them hot commodities with many smartphone buyers.
As it is with other popular types of smartphones, there are several generations of the Google Pixel phone. Plus, Google reported selling over 7 million Pixels in 2019.
Many resellers can receive excellent profits by purchasing Google Pixel smartphones. This company hasn't been producing smartphones as long as many of its competitors. However, these phones offer lots of unique features that make them hot commodities with many smartphone buyers.
Apple Watches
As is often the case, Apple continues to bring lots of innovative products to the market including smartwatches. These types of electronics allow people to stay connected to the digital world by offering many features that include telling time, communicating with others, and using a wide range of Apple's apps.
Besides reselling smartphones and tablets, smartwatches also remain extremely popular types of electronics. For now, Apple continues to have the edge in popularity when it comes to smartwatch brands. If you're wanting to make the most profit reselling smartwatches, it's best to find the ones that Apple manufactures known as the Apple Watch.
Where Are the Best Places to Buy and Resell Electronics?
A key aspect of making money from reselling electronics is knowing where to find them. Of course, you can probably think of a few places where you normally buy electronics. With that said, paying retail prices for electronics makes it hard to profit from your sales. Instead of doing that, let us show you some of the best places to find electronics for resale online.
Trade-In Tech
If you want to buy and sell electronics online, one of the best places to get started is Trade-In Tech. We offer a social platform and a way to grow your business that’s exclusive to electronics wholesalers.
At Trade-In Tech, you’ll find electronics from sellers all over the world. We have sellers listing new, used, and refurbished electronics. Best of all, our wholesale platform is incredibly organized. It’s always easy to find the electronics you need at Trade-In Tech.
With thousands of buyers and sellers on our platform, you’ll save time by finding refurbished electronics wholesalers right away. We’re also one of the best places to sell used electronics.
Many of our members are renowned sellers with companies of their own. This means that you can rest assured you’re receiving quality electronics from trustworthy sellers.
We also offer a buyer’s request feature. With a buyer’s request, you can create a customized list of what you want to buy. In a matter of moments, your request goes out to our network of members.
Another great reason to start finding electronics on Trade-In Tech is that we offer ZERO fees when our members buy or sell electronics. It doesn’t matter if you’re selling a single item or an entire pallet; you won’t have to worry about fees on our platform.
Right now, sellers from all over the world are listing their electronics on Trade-In Tech’s marketplace. Our marketplace is organized by item or brand. Unlike other platforms, you won’t be spending hours looking for the right place to list your electronics.
We also know that most business owners don’t have lots of time to deal with complicated listing creation tools. That’s why our platform is incredibly simple to use. With a simple interface, you’re able to list your items in just a few minutes.
Trade-In Tech also features chat rooms, groups, and many other ways to help your wholesale business grow by making lots of sales. By using Trade-In Tech’s platform, you can drastically reduce the time it takes you to find, buy, and resell electronic devices.
Are you needing to find a professional refurbisher or refurbishing company to partner with? We’ve got plenty of refurbished electronics wholesalers that know how to repair and restore a wide range of electronics. You can also stop by the Trade-In Tech Marketplace to find even more electronics at great prices.
eBay
Known as one of the largest websites on the internet, eBay is another potential source to find the electronics you need. With so many members using this platform, it’s absolutely possible to find quality electronics to resale on eBay.
To help keep eBay safe for its members, this website utilizes a review and rating system. When you’re looking for electronics to purchase on eBay, make sure to take a close look at seller ratings.
Understandably, things happen from time to time that can cause someone to receive an unjust negative review. But seeing a lot of negative reviews is probably a warning sign.
Another potential drawback of this platform is that it often utilizes auctions to sell items. If you want to make direct purchases on eBay, this might not always be possible.
With that said, some buyers prefer to only buy at an auction due to the potential of getting better prices. You’ll also need to factor eBay’s fees into your pricing. eBay will take a percentage of the sale of your item. Plus, members usually need to pay other fees throughout the year.
Amazon
If you were around during the 1990s, you might remember Amazon as a website that only sold books. However, as time went on, Amazon grew to become one of the biggest companies in the world. Considering that, it’s safe to assume that the minds behind Amazon know how to grow a company.
One way that Amazon continues to grow is through its Amazon Seller program. You don’t need an official business license to sell electronics through Amazon, which is great for newer sellers. However, Amazon does charge fees for selling items on its platform. So, be prepared to note your fees and include them in your company’s financial information.
The popularity of Amazon can make it a great way to start selling electronics. Just make sure you’re not spending too much profit on Amazon’s fees.
Facebook Marketplace
While we’re on the subject of popular websites, it would be hard not to mention Facebook. Most people know Facebook as a social networking website where people can connect with others. However, you’ll also want to know about Facebook Marketplace.
Facebook Marketplace operates in a similar manner to Craigslist. On this marketplace, you can sell all sorts of items to Facebook’s massive audience. Plus, these people never have to leave Facebook to take advantage of everything your business offers.
Since Facebook rose to popularity as a social media platform, you can also easily interact with anyone who’s interested in your items. Facebook users can message you directly or leave comments on your posts.
While selling on Facebook’s marketplace can be great, this service is far from a secret. Considering that, you might need to make your pricing competitive to stand out from such a large number of competitors on this platform.
Direct Partnerships With Electronic Manufacturers
There’s also the option of partnering directly with companies that manufacture electronics. This type of successful wholesale partnership is an awesome way to start gaining lots of new inventory.
The catch with this method is that electronics manufacturers understandably can’t accept everyone into this type of program. So, this route is usually best for those with some experience under their belts buying and reselling electronics.
When it comes to selling back your electronics, there’s another major concern that most resellers won’t like. This drawback is that most manufacturers that accept electronics will only pay you back with company credit. It’s possible that these discounts might help out your business. However, most resellers would prefer to get a payment for what they sell instead of credit.
Your Company’s Website
Another popular way to sell electronics online is by purchasing a website. With a stream of traffic, you should start watching sales roll in.
In the past, most business owners would hire another business to build websites for them. If you’re pressed for time, there are many companies that can take care of this for you.
Fortunately, you don’t have to spend money having another company create your website. Services like Squarespace and Wix make website creation incredibly easy. Regardless of which option you choose to build a website, this is something you’ll definitely want to have. Without a website, it’s difficult to build an online presence.
If you’d like to learn more information about increasing website visitors and sales, don’t miss one of our recent posts on the most popular website features that help you gain more customers.
Start Selling on Social Media
It’s also a good idea to use social media websites as a way to potentially make more sales. Many social media websites are some of the most popular in the world. A few of the most popular social media platforms include Facebook, Twitter, Instagram, LinkedIn, Pinterest, and others.
It might take a little time to grow your audience on social media. However, some of the largest electronics companies know how important it is to build a social audience.
The one drawback of selling items through social media is that not every platform might allow direct sales. Also, if you break the rules on certain social media platforms, you’ll probably end up losing your account. As long as you follow the specific rules of each social media platform, you shouldn’t encounter any problems.
If you gain the maximum amount of exposure on social media, it’s worth looking into paid advertisements. Most social media platforms accept and even encourage its members to take part in paid advertising.
Local Classified Apps/Websites
If you want another way to sell your electronics, it's also worth considering local classified applications and websites.
A few popular local classified websites include Letgo, Craigslist, and others. The drawback of selling locally is finding someone who is interested in wholesale quantities.
In most cases, the people you'll work with on these platforms will be consumers who are looking for a smartphone or tablet. Most of these individuals won't need more than one smartphone, tablet, or laptop.
Also, this route might not be the best if you prefer to run your business from home. Selling on local classified websites typically involves lots of driving to meet other buyers. So, it's a good idea to make sure you're keeping a close eye on fuel costs.
Flea Markets
An additional way to locally sell electronics is by setting up a stand in a local flea market. While this type of market doesn’t have the most appealing name, flea markets can be good ways to get your electronics in front of the public.
Before you can start selling at most flea markets, you’ll need to pay a small fee. Once your fees are paid, all you need to do is bring along your electronics and set up shop. Selling your electronics at flea markets might also be a way to connect with bargain hunters looking for a great deal.
How to Make the Most Money Reselling Electronics
By this point, you should have an understanding of popular electronics to resell and where to find them. With that in mind, it’s now time to learn how you can make the most money from the electronics you resell. Here are several great tips to help you maximize your profits from reselling electronics.
Become an Electronics Wholesaler
While learning about selling electronics, you’ll learn there are two main ways to achieve this goal. Most people and companies that sell electronics either operate by selling one or multiple items at once. If you buy and sell large quantities of electronics, you’re a wholesaler.
Throughout the electronics industry, there are many people and companies wanting access to wholesale listings. If you become a wholesaler, you’ll have everything these people and businesses are looking for.
Plus, being a wholesaler allows you to sell in bulk. By selling in bulk, you can move lots of inventory in a short amount of time. By doing this, you should see your company’s profits quickly increase.
It might seem like becoming an electronics wholesaler would be difficult. Fortunately, you can resolve those worries and concerns by joining a wholesale platform like Trade-In Tech. At Trade-In Tech, we make it incredibly easy for electronics wholesalers to grow their companies.
After becoming a Trade-In Tech member, you can network with retailers, distributors, other wholesalers, and many others within the electronics industry. You’ll also want to check out the Trade-In Tech marketplace, where you can buy and sell all sorts of electronics, including laptops, smartphones, tablets, and much more!
Stay Informed About Electronics Industry Updates
One of the best things you can do while reselling electronics is to follow this industry. You can do this by setting alerts on news aggregator websites. Or, if you like to do things manually, it’s possible to find the information you need by browsing websites that cover news from the electronics industry.
As you continue to check over these sources of information, you can learn about popular electronics, new items, and changes in industry demand. Learning about new electronics might enable you to carry items in wholesale quantities much sooner than any of your competitors.
By learning about demand changes, you can plan your inventory according to industry fluctuations. This can help you avoid trying to sell lots of products that, for one reason or another, people and companies no longer want.
Partner With an Electronics Refurbisher
As we mentioned earlier, there are multiple types of electronics. Understandably, most wholesalers can find it hard to obtain lots of new electronic devices. There are also times when it’s too difficult to find used electronics in wholesale quantities. So, what should you do if this happens? We recommend partnering with a person or company that refurbishes electronics.
Partnering with an electronics refurbisher can give you access to devices that aren’t always easy to find. Since you’re working with someone who repairs electronics, you won’t have to worry about the condition of what you’re selling.
You could start this relationship by finding a person or company that repairs electronics. Regardless of which option you choose, make sure the person or company you’re thinking about partnering with can perform the repairs you need. You can typically find out this information by researching reviews or asking other people you know for recommendations.
Create Descriptive Listings With Lots of Pictures
An incredibly important of reselling electronics is creating digital listings. This is where you pre-sell the product to an interested customer. Creating a listing might sound complicated, but it isn’t when you focus on two main things: being descriptive with your writing and taking lots of pictures.
In most listings, you can list what you’re selling. Unfortunately, certain resellers who don’t want to spend time on creating listings only include the bare minimum of information. While doing this can allow you to complete listings quickly, it likely isn’t going to improve your sales.
To maximize your sales, include as much information as possible in your listings. This means including the make and model of what you’re selling. It’s also a good idea to describe the condition of your items, especially any defects. Not being honest about what’s wrong with your electronics can get you nothing but bad reviews.
Taking pictures of your electronics is another great way to boost your sales. Considering that most people buy electronics online, seeing pictures of what someone sells might be the time they’ll see something before purchasing it. So, make sure that you’re taking high-quality pictures in an area that’s well-lit. Taking low-quality pictures might have visitors to your listing thinking you have something to hide, even when you don’t.
Use Multiple Resources
Another awesome way to jumpstart your electronics sales is by using multiple platforms to sell what you have. This is why most electronics wholesalers have websites, social media accounts, and memberships on electronics platforms.
By using multiple business resources, you can expand the number of people you’re reaching. When you’re reaching multiple audiences, it’s much easier to sell electronics than if you’re only working on one platform.
Before you get ready to launch your business, it’s worth having active accounts on the following platforms:
Trade-In Tech
Facebook
LinkedIn
Instagram
eBay
Amazon Marketplace
Promote Your Sales
It’s difficult to sell lots of electronics if no one knows what you’re selling or how much these items cost. Fortunately, there are an almost endless amount of ways to promote your company’s sales.
If you have a website, you can collect the email addresses of visitors through an opt-in form. It might take some time and effort to get people that want to receive emails from your business. However, having an email list is one of the best ways to boost sales. By putting together an email blast to send out, you could have lots of people ready to buy from you when an upcoming sale starts.
You don’t only have to use your website as a way to drum up interest in future sales. If you’re a Trade-In Tech member, make a post on your company page. By doing this, you can let Trade-In Tech’s large network know what you’re selling. If you have claimed social media pages, it’s also a good idea to post sale-related information on these platforms.
Packaging Is Important
Understandably, you’ll spend a lot of time checking the condition of electronics you want to resell when flipping electronics for profit. With that said, make sure that you’re also focusing on the importance of packaging that’s in good condition. It might surprise how quickly a potential customer will pass on your listing if they see excessively damaged or otherwise work product packaging.
Most likely, you don’t have lots of empty boxes for iPhones or iPads laying around. But, if you can, it’s a good idea to keep any leftover electronics boxes on hand. You never know when you’ll find the need to replace worn packaging with something that’s in much better shape.
Wipe Data From Your Devices
It might seem strange that wiping data from electronics would help you sell them. However, in this case, wiping data from your devices is more about avoiding incidents that could get you into hot water as a seller.
As you probably know, unless they’re brand new, most electronics will contain personal information. This information can come in the form of stored text messages and phone numbers. Electronics can also contain private pictures, videos, and financial information.
If you rush to sell these electronics without wiping the data that’s on them, it can lead to someone’s private information becoming public. To avoid the many problems that come with selling data-filled devices, you can clear data from your devices manually. However, most people reselling electronics find that manually wiping data to be time-consuming and quite boring.
We recommend using a service like PhoneCheck to wipe data from your devices. PhoneCheck is capable of safely and effectively wiping data from many electronic brands. Plus, partnering with PhoneCheck gives you the peace of mind that no one’s data gets into the wrong hands.
Always Provide Excellent Customer Service
Chances are, if you’ve ever worked for a company, you’ve heard about the importance of excellent customer service. This rule is also true when it comes to managing a business of your own. While doing this, you’re going to interact with your customers.
These interactions with customers might be in the form of a series of emails, webchats, messages on social media, or other methods. Regardless of where you talk to your potential or current customers, make sure to focus on how you’re talking to them.
Providing great customer service means being responsive, try not to let your interactions go too long without a response. It’s also important to focus on being nice to your customers at all times. It’s easy to be nice to customers when things are going well. But, you’ll also want to respond with kindness after receiving a bad review or some other type of negative interaction.
In closing, reselling electronics can be a great way to make money. With that said, you'll have the best experience with reselling electronics if you know what items are worth the most amount of money. To get the most profit, try to make sure you're selling newer electronics in the best possible condition.
For more tips to help you out, check out Trade-In Tech’s blog. Each week, we post lots of content aimed at helping electronics wholesalers. You don’t have to be a member to access this blog, so there’s no reason to miss out on all of the helpful content we have! For instance, you might like our recent post about how to find and work with electronics wholesalers.