Thursday, February 29, 2024
Home BUSINESS IDEAS HOW TO START A LUCRATIVE UK/US USED PHONE BUSINESS IN NIGERIA

HOW TO START A LUCRATIVE UK/US USED PHONE BUSINESS IN NIGERIA

Are you thinking about how to start a lucrative UK/US used phone business in Nigeria? In this blog post, you will learn about how to start selling UK/US used phones and make good money.

Seriously speaking, UK/US used phone business is one of the lucrative businesses anyone can go into in Nigeria today. 

Ever since the introduction of the mobile network to Nigeria in 2001, millions of lives have been transformed for the better. 

There are so many business opportunities that have come out as a result of having a mobile network in the country.

 It’s impossible to name all here but I will provide some information about businesses that have sprouted up as a result of the mobile network introduction.

Phone accessories business, phone parts business, phone repair business, network engineering business, phone logistics business, etc, won’t be existing without a mobile network.

You all know how we used to communicate before this era of mobile phones. Things have changed.

If you are seriously serious about starting UK/US phone business in Nigeria, nothing can stop you from making money except yourself.

As our population in Nigeria is increasing, the number of active mobile phone users never declines. It follows the population growth.

 This business will never run out of customers. And no matter the number of players, the market is big enough for everyone to take his/her share of it 

Different buyers have different reasons for buying used phones in Nigeria.

Some buy UK/US used phones because they cannot afford to buy new ones. 

Some buy people they feel it’s cheaper than new ones. 

Some buy because they feel they get better deals than new ones. 

Some believe the European specifications of gadgets are quite better than African’s. And all their reasons are valid. 

If you read this post till end, you will know how to start the UK/US used business and make it profitable. 

Let’s get started!

What is UK/US used phone business?

The UK/US used phone business involves buying UK/US used phones in bulk and selling to retailers or consumers in units.

Some sellers do import the used phones from countries like the US, the UK, Japan, and Dubai themselves, while some buy in bulk from wholesalers and importers in Nigeria.

Smart business people ensure that they buy clean, good and trending phones in bulk at low rates, then resell them to make good profits. 

And if you want to make money selling UK/US used phones in Nigeria, you need to know about what phones to buy and what phones to not buy and what price is the best for your business.  

How profitable is the UK/US used phone business in Nigeria?

The business of the UK/US phones in Nigeria is profitable and the market is quite big.

 Nigerians spend huge money to acquire gadgets. According to reports, Nigerians are the largest users of mobile phones in Africa. 

With this number, you don’t have to worry about getting customers for your business. There are more than enough people to patronise your business.

How much can you make from this business? By selling a single phone, you can make up to N10, 000 even more. It depends on the specifications of the phone, how much you got it, how clean it is, and the number of willing buyers. 

There are sellers in Computer Village, Ikeja, who make an average of N50, 000 in profits daily selling UK/US used phones to people. Some make more than this. 

Where to buy UK/US used phones in bulk in Nigeria?

If you are running a business that’s involved selling physical products like phones, it is a must to know where to be buying them at low prices, and resell them to make profits. 

SEE ALSO  How to Start a Lucrative Cosmetics Business in Nigeria

In Nigeria, there are two big markets where you can buy UK/US phones in bulk and resell them for good profits.

The two markets are Computer Village Ikeja, Lagos and Alaba International Market, Lagos. 

There are numerous wholesalers and importers in the two markets who sell used phones to wholesalers and retailers. Proper findings have to be done to know the genuine sellers to buy products from. 

Getting to Computer Village is easy if you know how, and you can ask people for directions. 

Anywhere you find yourself in Lagos, board a bus to Ojota. Alright at the bus stop at the pedestrian bridge. Ask anyone at the bus stop where to get a bus to Computer Village. Drop at the last bus stop. You are at the market. 

This is how to get to Alaba International Market Lagos from anywhere you are in Lagos: board a bus to Oshodi, alight at the last bus stop on Oshodi/Apapa Expressway, board another bus to Mile 2, alight at the last bus stop, then enter Alaba International bus and alight at Volks Bus Stop. Cross to the other side of the road. Ask anyone that you are looking for Keke to Alaba Market. Take the Keke and it will drop you at the market. 

It takes knowledge and smartness to navigate through the two markets: Computer Village and Alaba International Market. 

If you have never been there for the first time, it’s advisable that you go there with someone who knows the market. This will save you the stress of falling prey to the hands of swindlers and thieves who take advantage of the newcomers in the market. 

Do you need assistance on how to navigate through the market? Click here to send a message on WhatsApp.

What are the best brands of mobile phones to buy?

To sell UK/US used phones in Nigeria and make good profits, one has to know the best brands of mobile phones to buy that have good second-hand value. 

Know that as you are in business and selling, you are building a reputation for yourself and your business. If it’s good, you will stay long in the business, and people will keep on recommending you. 

However, you will not benefit from this if you sell crap. A satisfied customer is the best advert for your business. 

These are the best brands of mobile phones you can buy and resell in Nigeria. 

  • Apple
  • Samsung
  • Huawei
  • Nokia
  • HTC
  • Asus
  • Google Pixel
  • LG
  • Sony
  • Xiaomi
  • Oppo
  • Motorola
  • Lenovo
  • Vivo

How to import UK/US used phones into Nigeria?

Another method of getting good UK/US used phones to resell and make good profits is by importing them. 

You can import used phones into Nigeria on platforms like eBay, Alibaba, and OfferUp

To ship your goods from the platforms as mentioned earlier, you will need to have an agent handling your shipping for you. 

Chrisvicmall is a reliable agent you can use to ship your goods from Chinese websites like Alibaba, 1688, and Taobao without a problem. 

Click here to register on their website. The website is user-friendly, and you will see all the information you need on the website to import goods down to Nigeria. Do you need any assistance? Chat with me on WhatsApp.

How much do you need to start UK/UK phone business in Nigeria?

The amount you need to start a UK/US used phone business in Nigeria depends on how big or small you want your business to be. 

SEE ALSO  How to Start a Barbershop Business and Make Money in Nigeria

Starting without renting a shop means you won’t need much capital like someone who is selling in a shop. 

The rent rates vary too. It depends on the location and size of the shop. Shops in markets are more expensive than the ones outside. 

With N2m, you can start reasonably. However, if you are selling without renting a shop—you are selling used phones to people online, you don’t need this much capital. 

Most people who sell gadgets and accessories as a side hustle in Nigeria sell online to people. And the business can be started with as little as N50k.

Step-by-step guide on how to start UK/US phone business in Nigeria 

To start the UK/US used business in Nigeria, here is the step-by-step guide to follow:

Step 1: Prepare a business plan

The first step to starting a UK/US used phone business in Nigeria is preparing a business plan. 

A business plan is one of the most crucial steps in starting a business. A solid business plan will act as a framework for future guidance and growth of a business.

The business plan will help you to have a guide for your UK/US used phone business in Nigeria, and if anything goes wrong, you can always have where to return to. 

It doesn’t cost a fortune to get a tailored business plan ready for your business in Nigeria if you cannot write one for yourself. Talk to me and I will help you to make one ready for you and guide you on how to make them work.

SEE ALSO  5 Lucrative Digital Skills You Can Learn in 2023

Once you are done with this step, you can move to the next one

Step 2: Get your capital ready

This is the capital step–the money step. Your capital has to be ready here. Some parts of it will go into paying rent for your shop. Some parts of it will be used to set up the shop. Some parts of it will be used for sourcing the UK/US used phone you want to be selling. While some will be used for marketing and advertisement. 

The capital you need to start the UK/US used phone business depends on how big you want your business to be, and the investment you want to make in the inventory. 

If you don’t have much to start the business, you can start with anything you have and reinvest the profits back into the business to grow your capital base. 

It is not recommended to start a business with a loan in Nigeria. You can take loans to scale up the business. But this must be after the business has shown signs of growth. 

Have you got your capital ready? Move on to the next step.  

Step 3: Rent your shop

If you want to be selling your products in a physical shop anywhere in Nigeria, except if you own the space, but if you have none, you need to look for a shop in a busy location or market to rent. 

When it comes to renting shops for businesses in Nigeria, The mistake many people make is renting the wrong shop for a good business.

When there are no good sales as envisioned, they conclude that the business itself is a bad one–which is not. Meanwhile, people are making millions every day from the same business they are complaining bitterly about. 

Get the right shop at the right rate in a good location to make your business thrive. After this, you can proceed on to the next step.

Step 4: Source your products 

There are mainly two means of sourcing UK/US used phones to resell to customers in Nigeria. You can buy UK/US used phones from wholesalers/importers at the Alaba International Market and Computer Village, and you can also import them by yourself through the aforementioned websites. 

SEE ALSO  How to Start Consumer Electronics and Electrical Accessories/Parts Business in Nigeria

This step is also crucial to the growth of your business and must not be taken lightly. Three things you must ensure you get right when sourcing for your products are: the used phones must be fully unlocked, must be neat to some extent, and must be in good working condition. 

Step 5: Market your products 

Once you’re done sourcing your products, now it’s time for marketing. If people don’t know about what you sell, and how it can benefit them, they will not exchange their hard-earned money for the products no matter how good they are.

There are inexpensive online and offline marketing strategies that can be used for your business. One of the cheapest among them is listing your business on Google Maps. It costs nothing to do but works effectively for local businesses like yours. 

People have become so comfortable using Google to search for anything. They search for meals to eat, good barbershops near them for haircuts, pharmacies close to them to buy drugs, etc. 

If they search for ‘UK used phone sellers near me’ and your business comes up in the search results, there is a high possibility that they will buy from you if you give them a good deal. 

Renting a good shop in a suitable location is also a marketing strategy. If your shop is in a place where people can access it easily when they pass by they can notice your shop and what you sell, and anytime they want to buy you will be the first that will come to their mind.

Step 6: Sell to people 

Finally, you are at the final step of the guide on how to start a UK/US-used phone business in Nigeria. 

All previous steps taken are purposely generating income for the business and this will be impossible without making sales. No sales, no revenue, and without revenue there can never be anything called profits. 

Sell your products to people who want them. Look for them online where they can be found and you advertise to them. 

You can create a Facebook page, Instagram page and Twitter page for your business. Regularly, you will be updating the pages with pictures of your products.

Jiji is also a good online marketplace for a business like yours. Create and promote advertisements for your products for a certain fee to reach millions of people.

If you get all these steps right, be assured that success in this business is guaranteed. 

Wrapping things up

UK/US used phone business is a lucrative business for anyone who is ready to swim in the ocean of business, even with little energy. If done correctly, it can put you on a path of financial freedom because it has done so time and again for many people and you can join them if you are ready. 

Please, do let me know if you have any questions, contributions or contrary opinions about this information.

 Simply leave comments below. I would really love to hear from you. And if you need any assistance, send a message to me on WhatsApp.

Please, subscribe to my YouTube channel, like our Facebook page, follow us on Twitter, and subscribe to our Telegram channel to stay updated.

Usman Atandahttps://starthustlenow.com
My name is Usman Atanda - the man behind StartHustleNow.com. I'm a serial hustler from Lagos, Nigeria. Here at StartHustleNow.com, I cover topics such as Business Ideas, Side Hustle Tips, Business Tips, Side Hustle Ideas and much more. My ultimate goal is to make the building legitimate and lucrative small businesses and side hustle to be achievable.
RELATED ARTICLES

How to Start A Lucrative Laundry/Dry-Cleaning Business in Nigeria

The dry cleaning industry is a necessity in Nigeria's crowded metropolitan environment, not merely a service. The demand for...

Top 10 Best and Lucrative Business Ideas for the Year 2024

Would you like to be informed about the top and best lucrative ideas for 2024? Are you thinking of...

Top 10 Businesses That Can Make You A Millionaire in Nigeria and Africa

Do you want to become a millionaire in Nigeria or anywhere you are on the continent of Africa? This post is for...

2 COMMENTS

  1. Sir, you recommended Chrisvicmall.com as a reliable procurement agent for Chaina-Nigeria shipping. Can you please recommend procurement agent for USA??.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

How to Start A Lucrative Laundry/Dry-Cleaning Business in Nigeria

The dry cleaning industry is a necessity in Nigeria's crowded metropolitan environment, not merely a service. The demand for...

Top 10 Best and Lucrative Business Ideas for the Year 2024

Would you like to be informed about the top and best lucrative ideas for 2024? Are you thinking of...

From Zero to Hero: Segun’s Remarkable Journey as a Millionaire Affiliate Marketer

His name is Segun. Lived in the bustling city of Lagos, Nigeria. Despite coming from a humble background, Segun possessed an insatiable...

The 3 Most Important Things to Make Serious Money from Affiliate Marketing

Have you been wondering about the important things to make serious money from affiliate marketing?  Are you an affiliate...

Recent Comments

SEE ALSO  How to Start an Ice Block-Making Business in Nigeria
SEE ALSO  How to Start Freelance Writing with No Experience in 2023