Greatly undervalued business with massive potential.
The mobile phone repair market is a multi-million pound industry that is growing rapidly. 29% of all smartphones are cracked and 1 in 5 people damage their iPhone's within 3 years of buying it. With increasing mobile phone prices, consumers are opting to repair their phones and buy second hand, rather than buying new ones.
I started this business from my room after seeing how much companies were charging to repair iPhone screens. I then saw the large profit margins in this industry and decided to start my own company with lower prices than anyone else. In addition, there were very few well established, trustworthy phone repair companies that offered delivery services or advertised through social media. Thus, I saw a gap in the market and decided to try and exploit it. One year on and I'm still successfully operating this business from home making profits every sale.
Some of the competitors in this market who offer similar services are listed below : ismash, lovefone, icorrect, imend.
If you check out their websites you'll see that they aren't amazing yet they still generate millions in revenue every year. Furthermore, if you read into the background behind these companies you'll see that most of them started in the bedrooms of the owners just like Uncracked. The reason I am selling this store is because I don't have the time and resources to continue growing this store and allow it to reach it's true potential.
This website can be kept the way it is and grown easily through advertising or can be turned into a technology store selling accessories like chargers, screen protectors etc. It can also be easily changed into a drop shipping store for this genre of products. Which ever option you choose, with a solid foundation and great brand already laid out, this company can be scaled drastically. All the foundations are set for you to start selling immediately.
I learned how to repair phones in only 2-3 days by watching YouTube videos and started building this business 1 weeks later. Rest assured anyone can learn how to repair phones and I would be more than happy to guide you through this process. If you prefer not to do the repairs yourself, most technicians are available for £10-£12 ph.
Although the traffic and revenue shown by shopify will be low, I have generated many cash sales in person through setting up stands or meeting with people via Instagram. The physical inventory included with the store are around 50 posters that were printed. These can be seen on the instagram page.
How this store is currently run - 1. Customer places order through website or arranges an appointment through Instagram (pay in cash) 2. I order the parts needed for the repair. (Parts usually come next day) 3. Repair the customers device at the arranged time.
As you can see the store is easily run and it would be even easier if the parts were stored as inventory so you wouldn't have to order parts every sale.
TO SUMMARISE: - This business can be turned into anything in the technology sector and will thrive. - Great base to pivot into a dropshipping store - Excellent brand and foundation already established - This store is completely set up for sales to be made immediately. - Nearly all sales so far have been cash sales. - Traffic and social media followings will be lower due to inactivity in the past 3-4 months.
Feel free to ask me any questions you have about anything! Supplier information, costs of parts and any other important information will also be given if asked.
Why should someone buy this store?
This is a great opportunity for someone looking to buy or scale a business. I have already built a social media presence for you. The most valuable thing about this store is that it has a strong brand. An established brand is vital to any company and it makes it stand out from the rest. This market has very high profit margins and this store is entirely set up so can be run immediately without changing anything.
How can the future owner improve the business?
There are many easy ways to scale this business drastically and I'll outline some below. The first method I would suggest is to focus on increase the advertising on instagram and produce more content for all the social media channels whilst growing their following. Consumers responded to adverts best between 4pm - 11pm during weekdays. Improving this store's Google ranking is also very important.
Secondly, I would suggest adding other mobile phones to the repair list. For example, repairing Samsung and HTC phones as well as iPhones. This instantly gives you hundreds more products to add to the store.
Another way to improve the business is by selling accessories such as mobile phone cases and screen protectors. You can even include the uncracked logo on these phone cases to strengthen the brand. If you choose to change this store into an accessory store/dropshipping store then all you would have to do is change the products and change the 'Repair' section to 'Shop'. The store is already set up to generate sales.
Finally, you can use this website and brand to create your own mobile phone/technology store in real life (not online).
What work have you put into the store?
I have built and designed the entire store by myself and created the logos and brand. I manage all the social media accounts and run the advertising. The entire business is run by myself so you can only imagine the growth if I were to hire employees or dedicate more of my own time into this business.
Arif A.Running this business for about 1 year
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