Is it a good idea to start business of refurbished items.

Discussion in 'Starting a Business' started by manishsqrt, Apr 30, 2015.

  1. manishsqrt

    manishsqrt
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    Hi all, i am planning of starting a business of refurbished items, i will like to hear suggestions for you, will it work, or is there a new model for it, i will be selling and buying refurbished items online, please provide to suggestions.The most important information that i want is whether you feel that you would love to buy refurbished items online.
     
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  2. ychh1220

    ychh1220
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    Refurbished item?
    What kind of refurbished item?
    Clothes or shoes or car or bag and others?
    If it was car, the business would be ok.
     
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  3. Joseph.Shivell

    Joseph.Shivell
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    There are different types of businesses that sell refurbished items. Consignment shops sell used and second-hand clothing, used car dealers, at least the honest ones, refurbish old vehicles and then sell them, some furniture stores can sell refurbished furniture, etc. Whether it will succeed online could depend on the type of item, whether people are willing to buy the item(s) sight unseen, and how the business is described and marketed. If you can show prospective customers that you carry high-quality items, and that they are expertly refurbished, it can work.
     
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  4. tsubibo

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    I was thinking of also selling refurbished items like tvs and washing machines. Would I need to have a house electrician or just have someone on-call which I probably guess would be much cheaper.
     
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  5. Joseph.Shivell

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    If you are going to sell the items yourself, it's probably a better idea to have an in-house electrician, from a reputation point-of-view. You have better control over the quality of the work, and if your electrician has any industry certifications, you can use that in your marketing, showing that your business is reputable.
     
  6. glennmartin

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    It is really good because, mostly people prefer to purchase new items whenever possible, it is not always feasible and may not be their best choice. The business of refurbished items revolves around acquiring these goods, servicing.repairing (those with minor issues), categorizing them as refurbished and surplus and, selling through a different channel at considerable discounts or low prices. Refurbished items are a very good deal because simply with the extra tag, the price goes down; often by a great amount.
     
  7. James4

    James4
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    Yes, if your vision is clear then off course you should try. But mainly electronics and furniture items would work in such kind of business.
     
  8. austinlerwick123

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    Good luck for your refurnished business at the place where I live, I see one another refurnished shop and he sale furniture and that shop is going really well.
     
  9. Kevin Peter

    Kevin Peter
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    If yours is a refurbished computer appliances business, then yes, it is great hit! Profits can be made if you can hire a skilled worker.
    Refurbished Cars are of great antique value as well.
     
    #9 Kevin Peter, May 18, 2015
    Last edited by a moderator: May 19, 2015
  10. chad23

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    It depends on what kind of refurbished items are you planning to sell. I think that not bad idea is selling of refurbished household appliances, such as refrigerators and washing machines or for example, computers, telephones and applications for them. Sometimes refurbished things are much better and more qualitative than new ones.
     
  11. 60degreeDigital

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    Exactly, You should be clear about what kind of refurbished business are you looking for. I have seen that many people who sells goods online also provide refurbished service to their customers, purchasing their goods back & reselling them to new customers, in this way they are winning both clients as well as sales.
    My point is that people would trust them more than any other seller selling the same refurbished product.
     
  12. bburkeconsulting

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    This business model has proven effective in many cases, but you'll have to increase your volume if you're reselling lower end items.

    If you're able to refurbish them yourself, then wholesale or even retail, you'll be vertically integrated enough to assume the profits from both the refurb AND the wholesale/retail.

    If you're able to do that, you'll keep your margins higher!!
     
  13. M.Ehrmantraut

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    This is actually what I do as a side business, I buy guitars from a company that buys-up all of the b-grade guitars companies like Jackson or ESP won't sell and do the work myself and sell them to my customers - I'm in the guitar repair business so it's easy for me, that and the fact most of the time it is some small wiring problem or blemish which can easily be fixed.
     
  14. Tandy

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    Hi I would just say as I have been looking at refurbished laptops there seems to be a lot of interest in computers perhaps this could be a way forward with everyone getting online.
    Best Wishes:)
     
  15. Damien Lee

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    Selling refurbished items is definitely a hot market these days. The global economy is not healthy, consumers are tight and are constantly looking for good deals. If you can sell a product that is almost as good as new at a low price, you're onto a winner. I think refurbished electronic goods and furniture are good markets to get into. Just ensure that your website is easy to navigate, easy for the customer to make payments and that you can ensure quick and reliable deliveries.
     
  16. pwarbi

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    The only problem I can see is that at the moment the market is over saturated and you're going to have to try and compete with companies that are already well established in that area.

    There's no doubt it is big business though, and with times still being hard for a lot of people, it's definitely going to big for the near future aswell
     
  17. Corzhens

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    There are 2 basic elements of a business - supply and demand. First off, is there a supply for your planned business? Where would you get the used items for refurbishing? Second question, is there a market? I had once known a Korean named Mr. Han who brought used Korean appliances in the Philippines to refurbish and sell. He rented a small building as his warehouse cum office. He lasted one year after losing much of his investment since the market is almost zero. No one cared for Korean appliances and used at that.
     
  18. kaian

    kaian
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    I do not buy anything refurbished. Although on one rare instance I thought it was the wisest thing to do. I bought a refurbished refrigerator that I used in one of my studies. That is nothing permanent the study could be a success or not so for things like that I think it would be ok to cut on cost and buy second hand or reconditioned items. How many people are willing to buy? you need to make a study
     
  19. Nox

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    You know the old saying "They don't make them like they used to". I think furniture is classic example where in some cases older products are better quality, or they just have a lot more character. I'm not very big on online shopping, but this might just be the thing that could get me into it. Some pieces of furniture are just timeless and very classic and all they need is a bit of a touch up, and before you know it, you have that lovely, unique piece of furniture in your home accentuating your living area.
     
  20. moneyman

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    I think it would be lucrative business and there are numerous TV shows where people buy old furniture, books etc. and sell them for a good profit. Although it needs a lot of research which items are good for selling and which don't.
     

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