Solutions

September 23, 2019

Summary:

3web1 was used to set up a buyback website which cost just $27. This brought instant credibility to our business.

The domain name sellmyiphonemiami.com was available and bought for $15. We chose this name because it contained the keywords we wanted to get ranked quickly. Keywords are search terms used by online users when searching for services on Google.

 

Free ads for buying broken electronics were posted on OfferUp with the website posted in the ad image. With the traffic that the OfferUp ads generated it quickly ranked sellmyiphonemiami.com on Google for the keywords "sell my iphone miami" and "sell iphone miami". 

 

We stuck closely to the prices on the website and because the prices are low enough we even offered some customers a bit more to close some deals.

The 3web1 dashboard includes many tools designed to make phone flipping easier

 

The device checking quick links were especially helpful when verifying whether phones were reported lost or have been blocked by a carrier.

We challenged ourselves to start a cell phone flipping business and double our $950 startup capital in 2 months.

 

  Spoiler Alert: We crushed it!

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We needed to solve 3 problems to start

September 23, 2019

Problem #1 - Starting Budget of $950

We challenged ourselves to see if we could start a buyback business with less than a thousand dollars and to double our money in two months.

Problem #2 - Ultra Competitive Market

Strong demand for used devices inflates the buyback prices and reduces the profit margins in South Florida.

Problem #3 - No Business Recognition  

Our buyback business had no prior customers and zero name recognition to start with.

Summary:

With a total startup budget of less than $1,000, we needed to keep startup costs low to have more capital for buying devices.

 

And because Miami is a trade hub between the USA and regions such as the Caribbean and South America, it's one of the most competitive markets for cell phone flippers.

 

With almost no advertising budget in a highly competitive market and starting as a new business with no brand recognition, 3web1 was the perfect solution.

Created Buyback Website

Using 3web1 we were able to create a buyback website in just a few minutes. We gained instant credibility for our business. Set up  cost was free and they maintained it for only $27 a month. Additionally the website was top rated out the box and included additional tools such as the calculator and quick links that were really helpful.

Used Keyword as Domain

We wanted our website to get ranked as quickly as possible, so we used a popular Google search term as our domain name. We paid $15 to register the domain directly through 3web1, and it was automatically linked to our website. The total starting cost was $42.

Posted Ads On OfferUp

We posted one ad daily on OfferUp online marketplace. The web address was placed in the ad image to generate traffic to the site. We also focused on buying mainly broken devices to maximize our returns.

Results

November 22, 2019

Immediate Results

Within 1 day of posting ads on OfferUp we received our first request to sell and bought 2 cracked Unlocked iPhone 6s for $15 each. Replacement screens were ordered on eBay for $12 each, and a Youtube video was used to complete the repairs. We then listed them on eBay where both sold within 3 days for $114 each. Our profits was around $140 total. We had made back our initial investment within 7 days.

#1 Ranked Keyword

On November 8 we received our first order through our buyback website. This was the first time we realized sellmyiphonemiami.com was ranked #1 for the search term "sell my iphone miami". We met with the seller and purchased 3 phones that we fixed and resold on eBay.

$3,059 In 60 Days

Because our budget was limited to begin with we turned away a lot of deals because we didn't have the capital to buy. However we focused on smaller ticket items and was able to turn our initial $950 into $3,059 total in 60 days.

Summary:

By setting up a buyback website we quickly established sellmyiphonemiami.com as a reputable buyback option in Miami for just $42.

 

When asked why they chose to sell to us, many customers said we seemed more trustworthy. The website worked.

 

With the remaining budget, we focused on buying broken devices then repairing and reselling them to maximize returns.

 

The traffic to our website from Offer Up helped us get two valuable keywords ranked #1 on Google.

 

Within two months we had a top-ranked website bringing us free leads and growing the $950 startup budget to over $3,000 working capital.

Conclusion

We were able to create a buyback website and launch a successful phone flipping business with a budget of $950.

 

Within 9 weeks our website was attracting customers and our initial startup budget had grown to $3,059.

 

We were now in a position to buy larger ticket items and continue growing our buyback business.

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