oc2much@yahoo.com1. Overview
Used and broken mobile phones are a goldmine waiting to be tapped. Many people discard old phones or sell them cheaply, unaware that refurbishing them can generate huge profits. By starting a small buy-back and refurbishing hub, you can purchase “dead” phones for a few thousand Naira, repair or replace parts, and sell for five to ten times the purchase price.
This business is ideal for tech-savvy Nigerians, college students, or anyone willing to learn basic mobile phone repairs. With minimal initial investment, you can realistically earn ₦200,000 per month or more.
2. Market Opportunity
- Target customers: Individuals, online marketplaces, and small electronics shops.
- Trend: Nigeria has millions of phone users; constant upgrades generate supply.
- Competition: Low to moderate; niche market for quality refurbishment.
- Growth potential: High, as demand for affordable refurbished phones grows.
Focusing on affordable, high-quality devices and offering guarantees can attract loyal customers.
3. Startup Cost Breakdown (₦)
| Item | Cost (₦) | Notes |
|---|---|---|
| Repair toolkit | 30,000 | Soldering iron, screwdrivers, multimeter |
| Initial phone inventory | 70,000 | 10–20 phones |
| Workspace setup | 20,000 | Desk, chair, lighting |
| Marketing | 10,000 | Social media and flyers |
| Miscellaneous | 10,000 | Replacement parts, packaging |
| Total Startup Cost | 140,000 |
You can start smaller by focusing on fewer phones per week to reduce inventory costs.
4. How to Earn ₦200,000 Monthly
- Buy “dead” phones at ₦3,000–₦5,000 each.
- Spend ₦3,000–₦5,000 on repairs per phone.
- Sell refurbished phones for ₦20,000–₦25,000 each.
- Example: 10 phones/month × ₦18,000 net profit = ₦180,000–₦200,000.
Offering accessories like chargers and cases can boost profits further.
5. Step-by-Step Business Guide
- Learn basic repairs: Online tutorials or vocational training.
- Source phones: Online marketplaces, social media, and local sellers.
- Set up a small workshop: Secure a clean, well-lit space.
- Repair & refurbish: Focus on battery replacement, screen repair, and software updates.
- Sell: Via social media, online shops, or local electronics markets.
- Scale: Hire a small team, increase phone volume, or offer premium repairs.
6. Challenges & Tips
- Challenge: Avoid stolen devices — verify source.
- Challenge: Damaged phones that are beyond repair.
- Tip: Build reputation for quality repairs and warranties to attract repeat customers.
7. Profit Projection
| Metric | Value (₦) |
|---|---|
| Monthly revenue | 300,000–350,000 |
| Operating costs | 100,000–150,000 |
| Net monthly profit | 180,000–200,000 |
| Break-even timeline | 1 month |
| ROI first month | 130–150% |
With consistent sourcing and customer acquisition, profits can increase over time.
8. Feasibility Verdict
Feasibility: High
- Low startup relative to profit
- Easy to learn with practice
- Scalable and sustainable
9. Conclusion
The mobile phone buy-back and refurbishing business is one of the most lucrative, low-capital tech hustles in Nigeria. With proper sourcing, repair skills, and marketing, you can earn ₦200,000 monthly while meeting the demand for affordable electronics.
