Getting started

September 23, 2019

Summary:
3web1 was used to set up a buyback website which cost just $27. This brought instant credibility to our business and the setup time was less than an hour including adding the domain which is done automatically if purchased from 3web1.

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 was 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 at least double our $950 startup capital in 2 months.
 
  Spoiler Alert: We crushed it!

happy to create new cell phone website.p

We needed to solve 3 problems to start

September 23, 2019

Problem #1 - Low starting budget.

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 all-in-one solution which included a website, marketing tools, business management features, and weekly price updates 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

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 profit was around $140 in 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. We are also ranked #1 for "Cash for iPhones in Miami", "Trade my iPhone in Miami", "Sell my iPhone near me",  "We buy iPhones in Miami", and more.

$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 were able to turn our initial $950 into $3,059 total in 60 days. If we had started with a budget of $5,000 we think we would've tripled that as well. We missed out on a lot of business because we kept running out of money waiting for eBay to clear our funds.

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.

If we had more money for purchasing we would've made a lot more money. We turned away many customers while waiting for eBay to clear our funds.

 
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.

Update 08-16-2021

SellMyiPhoneMiami.com is now ranked #1 for many local keywords, which has increased its exposure tremendously.

We decided to reactivate a phone number on May 31, 2021, to see if we could generate $3,000 profit monthly spending just 1-hour a day buying phones and selling them on eBay.

In two weeks we were able to make $1,500 profit and our monthly profit margin for the last 2 months is over $4,000.

All this with zero energy or dollars spent on advertising.


 

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