how to start a phone flipping business
and just how much money can you make
while doing so in this video I will tell
you how you can do this to me money
easily without having to go through all
the trial and errors that I did so you
guys can start make money without
wasting your time and wasting your money
awesome no I used to flip phones a lot
right and I've learned a great deal here
and I lost a lot of money or lost a lot
of money when I first started now I
don't really flip phones anymore at
least not like I used to but I can and I
will occasionally and so I know this
still works no this business idea unlike
some of the other business ideas that
we've talked about on this channel isn't
one where you need to spend most of the
time setting it up and then just getting
paid for 5 to 10 minutes of your time
daily in this business you're going to
need to be much more active than that
but the rewards are worth it now just
before we get into this business idea if
you're new here and this is the first
time you're seeing me my name is Ian and
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okay so phone flipping there are a
couple routes you can take with this
right the first is to dropship no this
has never worked for me I'm not saying
it can't work for you but I tried it and
it just never worked out and I was also
never really able to meet that much
money or any money at all nor that I
think about it from a dropshipping
phones I probably tried this three times
and all three times it just never worked
out no I think I broke even instead of
making profits and at least I couldn't
find the ones or find the phones at good
enough deals to make it worth my while
now the second way is to purchase broken
phones right I tried this a couple times
and this does work but it involves a lot
more work and if you don't know how to
repair phones then you're going to have
to learn that skill and then it just
takes too much time
now another downside here is even if you
know what your
doing you can still mess up and if you
do then you may lose the phone or have
to spend more money making additional
repairs or on additional parts now I'd
rather be doing other things than that
now remember this is flipping phones so
we're trying to make some profit the
easiest way here so you can treat this
as a side gig or hustle and do other
things while you're doing this so with
that said the third way is to simply get
phones for a less than what they're
worth and then flip them for more money
this is the method I've use and this way
works every single time so let's talk
numbers right
so for start-up cost now this video is
based on my experiences and I'm sure
yours may not be the exact same but it
should be very close unless you decide
to just copy my methods here which is
fine also so starting out the cost will
vary depending on what types of phones
you want to flip so you want to flip
phones that people want to buy obviously
but at the same time you may not want to
do the latest model phones as they will
cost you much more look at the iPhone 11
pro for example that phone retails for
about $1,200 on average so let's say you
got it on a really good deal and you
paid $800 for one right that would be a
cost of $800 to buy the phone and that
$800 would be tied up until the phone
was sold imagine seeing four or five of
those deals at once you would need 800
times 5 to take advantage of that that's
$4,000 they're just from buying five
phones to flip which isn't a lot of
phones if you're going to make a
business out of this so hopefully you'll
be selling more than that on a daily
basis so comparing that with the older
model iPhone which could be the iPhone
10 they retail for about 750 now so you
could potentially find one on a good
deal for let's say 400 to 500 dollars or
thereabout so right there you could buy
almost double the amount of phones with
the same money or if you're just
starting out the startup cost would be
way less right now I'm using iPhones as
an example here and sure you can do this
with any other brand phones which could
cost you more or less depending on what
it is so the startup cost here can vary
and buy a lot but that's how you would
go about calculating the startup cost
for this business
now when it comes on to actually
reselling the phone you may or may not
have any cost associated with doing so
depending on how you go about doing this
so example again right if you advertise
the phone or phones on let's say
Facebook marketplace then the listing
would be free and you and the buyer
would meet and you can trade cash for
the phone so you buy a phone for $400
and you sell it for several hundred
dollars and you make 300 dollars in
profit right there however if you try to
list the same phone on eBay and sell it
there then no you have to consider the
fees charged on eBay for cell phones and
it's going to work out to be about 9% of
the sale price and then let's say we
sold it for $700 again so nine percent
of that is $63 so that leaves us with
six hundred and thirty seven dollars and
then also we have to remember the
shipping cost which is going to be at
least fifteen dollars at the very
minimum
so again 637 - 15 leaves us with 622 so
the same phone now we use us a profit of
222 dollars instead of $300 if we had
sold it in a cash transaction so
depending on where or how you sell your
phones then that will determine the cost
if you have any now I used email for
most of my phone sales if not all
because it was much easier and it took
less time so this should help you decide
how you want to go about doing this know
there are a couple things you need to
consider before you start this business
or a couple traps that you could fall
into if you don't know so the first one
is purchasing a phone on a really good
deal only to find out that it's carrier
locked now what this means is that the
phone is locked to one specific carrier
so it may not be able to or may only be
able to work on Verizon or AT&T or
something like that right so phones
which are carrier locked are worth way
less because whoever wants to use that
phone will have to either use the
carrier that it's locked to or pay to
unlock it so it can work with other cell
phone carriers and if the phone was ever
stolen and locked to a carrier then the
chances of this working are very slim so
you want to purchase unlock phones which
can be activated for any carrier
used with any these phones are also
easier to sell and will sell for more
money also you need to check this
because you can't just take someone's
word for it so to do this you must get
the IMEI number from the phone which is
like a serial number that all cell
phones have and then you can use a tool
online to check out the phone is
unlocked to work with multiple carriers
or if it's locked to one and you may be
able to find more information such as if
the phone is reported stolen so I'm
leaving a link down below to a tool like
this which you can use to check the
phones before you actually purchase them
to flip another thing to consider here
is if the phone you're about to purchase
the flip is paid off so even if the
phone is unlocked to work with any
carrier they could still owe on it or
even if it's locked to one carrier so if
you purchase a phone that's not paid off
then you're stuck with a brick unless
you're going to pay it off and then you
would be losing money right so to make
sure there aren't any problems you can
do one simple thing here to cover
yourself so tell the person who's trying
to sell you the phone to call the
carrier or you can call them yourself
and ask them if the phone is paid off
this is a simple 30 second call right if
they start acting strange as if they
don't want you to do this then chances
are they're hiding something and the
phone could either be stolen and a bar
from being activated again or suggest
not paid for this one is very important
especially if the phone looks really
well and the price is extremely low now
before I mentioned three ways that you
could go about this business right the
one we just talked about is flipping
good working clean phones simply buy and
resell them if you want to make more
cash off each flip then use phones with
broken screens or damaged crack surfaces
make you much more money now if you
aren't techy but you want to give this a
try then YouTube is the place to be
because here you can find a video about
any type of phone whit repairs so you
can see how a screen is replaced for any
particular model for example and other
parts as well and the tools to do this
are also very cheap if you ask me
costing only a few dollars for a tool
kit on ebay so this method can make you
more money but it takes much more time
and you have to
much more careful no I didn't want to do
it so I chose not to but that's another
option to consider here so that's where
the cost for this business come in the
cost to purchase the phones is one which
will vary depending on what you want to
flip and then we have the cost of
selling the phones on eBay or some other
marketplace which may charge you listing
fees if you don't do a cash transaction
and then also the cost of shipping
now another cost is the travel expenses
to purchase the phones right so if you
aren't lucky enough to also get the
deals online which you may not and have
them shipped to your door then you will
have to meet people and purchase from
them which will cost you either gas or
the cost of public transportation but
that shouldn't be a lot now apart from
that there isn't much else to this
business it's as simple as its owns the
most complex part is to find a good
phone or phones that people will buy
quickly and also being able to get them
at deals to flip them for a profit right
now once you have that figured out then
this is easy money the profits well
again that varies and my calculations
before can help you determine what your
profits will be like so you can know
this before you even start this business
but on average you should be able to
make our own $100 per phone flip in
profit so to make a thousand dollars in
profit per week you need to flip one to
two phones on most days now one more
thing is how to know when a phone is a
deal or how much you should pay for it
and apart from looking at what they sell
for an eBay or wherever else you plan to
sell them you can find out what you
would get for the same phone if you
treated it in with a carrier now guys
drop me a comment down below if you like
this business idea or if it's something
that you've done or you will try doing
now if you're a new subscriber or viewer
here on this channel be sure to check
out my other videos on high-yield
savings accounts checking accounts
investments credit cards and ways to
make more money also guys I've left a
couple links down below to free stuff
free cash back offers so be sure to
check the links down below in the
description for all kinds of free stuff
right and again I hope this video was
very helpful and I was able to provide
some value to you guys and if you like
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guys thanks for tuning in to the channel
all the best with your business ventures
and until tomorrow adios
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