Are you interested in trading gadgets for profit? Do you want to make money buying and selling used laptops from home? If YES, here are 7 easy steps to buy and sell used laptops online for profit
If you want to learn how to make additional money, then you should learn how to buy and sell used laptops for huge profits. Why? The reason is because thousands of laptops are discarded every year due to issues such as damage, malfunction resulting from prolonged use, and owner’s satiety. You can take advantage of this reality by buying faulty and used laptops and selling them at higher prices.
Basically, you will be buying used laptops from garage sales, computer repair shops, pawn shops, and individuals. Then, you will fix any faults in the used laptops, improve their appearance, and resell them at higher prices. Now, let’s go into more details about this business. The following are steps you should follow in order to get things right:
7 Easy Steps to Make Money Buying and Selling Used Laptops
1. Learn how to repair laptops
Consult with a laptop repair expert and buy books that teach laptop repair. Study and learn as much information as you can about how to do basic laptop repairs. This is necessary because you will save the cost of having someone else repair faulty laptops for you; and thereby increase your profit margin.
Laptop repair isn’t as difficult as you may think. You can learn how to do basic laptop repairs and become very good at it within 2-3 months. If you think it’s not necessary that you acquire this knowledge, then stick with only laptops in good working conditions or get ready to lose some of your profit to laptop repair experts. To keep yourself well-informed about the industry, you should read PC World Magazines or PC today on a frequent basis.
2. Get a business license
This may not apply in every state or country. But if you need to get a business license to sell used laptops, go to the right government agency to fill your application. Also visit the official website of your state’s revenue department to register for a tax identification number. If you are in the U.S., you can visit the Internal Revenue Service website at irs.gov to get a federal tax identification number. You will need both your state’s tax ID and your country’s federal tax ID to pay your taxes.
3. Find used laptops to buy
Find people who are willing to sell used laptops and buy from them. You can find many used laptop deals on websites such as EBay and Amazon. Digitalnewssite.com is another website where you can find a lot of used laptops in good condition. On these sites, you will find used laptops that are working perfectly; for prices as cheap as $150. You can also scour Craigslist and other free classified sites for used laptops. However, you must be very careful when using Craigslist because it’s a haven for scammers. One smart way to avoid being scammed is to not pay online for the used laptop.
4. Check the condition of the laptop
After receiving a used laptop, check its condition. Check its casing for scratches and dents. If you have learned laptop repair, you can open it up to check if its internal components are in fine conditions. If you notice any scratches or other damages in the laptop, fix them if you think they are serious or can discourage people from buying them. You can improve the value of the laptop by adding more components such as additional RAM or exchanging the hard disk for one with larger storage capacity.
5. Sell the laptop
You can buy a used laptop for $150, improve its value with additional $50, and sell it for $300 or more. That’s a profit of at least $100 per sale. Sometimes you would earn less than that, and sometimes you would earn more. You can find buyers who ready to pay your asking price on EBay and Amazon.
Alternatively, you can sell them to websites devoted to buying used laptops. You will get many of them by searching Google for the phrase “sell used laptops.” However, to avoid landing your laptop in the hands of scammers, search the web for reviews on any website that claims to buy used laptop before dealing with them. Generally, you will make more money selling to individuals. So, you may not have to search Google for these websites.
6. Expand your business
After making your first sale or series of sales, be disciplined. Don’t blow up your profits yet. Rather, invest it into buying more laptops at a time. This will fetch you even more profits and help you transition the business into a full time one, if that’s your goal.