Transitioning from a Phone Flipping Side Hustle to a Business

Objective: To provide a structured approach to help individuals transition their phone flipping or buyback business from a side hustle to a full-fledged business, maximizing profits and efficiency.

CORE FOUR FOR SIDE HUSTLE

1. Reach Outs:

Action: Send out at least 20 offers daily.
Script: "Hey, I run a business that buys phones, MacBooks, iPads, Smartwatches, cameras, and other electronics. If I could pay you cash today, would you be willing to go any lower on the price?"
Platforms: Use Facebook Marketplace, OfferUp, and similar platforms.

2. Ads:

Platforms: Focus on Facebook and Google Ads. Consider Instagram ads as well.
Objective: Generate inbound leads where potential sellers come to you.

3. Diversity:

Items: Focus on top 10 electronics including iPhones, Samsung phones, MacBooks, Smartwatches, cameras, iPads, PlayStations, and game consoles.
Goal: Gain knowledge and skill in buying and selling a variety of electronics to attract repeat customers.

4. Negotiation:

Focus: Master negotiation to improve conversion rates and profit margins.
Tip: Avoid asking too many questions before making an offer. Make the offer quickly and confidently.

Expected Outcome: Following the Core Four for side hustles should yield an annual profit of $30K to $50K.

TRANSITION TO BUSINESS

1. Google My Business Profile:

Action: Create and optimize a Google My Business profile to collect reviews and improve local search visibility.
Importance: Establishes credibility and differentiates from competitors who lack formal business setups.

2. Store Partnerships:

Targets: Establish connections with pawn shops, repair shops, and other resellers.
Approach: Use reach outs to contact stores and propose bulk buying deals.
Script: "Hey, I run a company that buys used and damaged iPhones, MacBooks, iPads, Smartwatches, Game Consoles, VR systems and more. I was wondering if you guys had any extra damaged stock you might be looking to sell?"

3. Networking with Other Resellers:

Strategy: Use platforms like Facebook Marketplace to identify and reach out to other local resellers.
Benefit: Creates a network of repeat customers and suppliers, providing stability and consistent inventory flow.

4. Repeats and Referrals: