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 (₦)

You can start smaller by focusing on fewer phones per week to reduce inventory costs.

4. How to Earn ₦200,000 Monthly

1. Buy “dead” phones at ₦3,000–₦5,000 each.
2. Spend ₦3,000–₦5,000 on repairs per phone.
3. Sell refurbished phones for ₦20,000–₦25,000 each.
4. 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

1. Learn basic repairs: Online tutorials or vocational training.
2. Source phones: Online marketplaces, social media, and local sellers.
3. Set up a small workshop: Secure a clean, well-lit space.
4. Repair & refurbish: Focus on battery replacement, screen repair, and software updates.
5. Sell: Via social media, online shops, or local electronics markets.
6. 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

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.

The post Buying “Dead” Phones for ₦3k and Reselling for ₦25k — The Hidden Phone Trade first appeared on GOOD NEWS NIGERIA.