Are you the friend everyone calls for help whenever they have problems with their computers? Do you know the latest iPhone models and how each one differs? If you know electronics and gadgets like the back of your hand, a consumer electronics-focused business is awaiting you.
And if you’re wondering if it’s a good time to enter this industry, it’s a big, resounding YES. Statista tells us that the revenue in the Consumer Electronics segment in Australia is projected to reach AUD$3,813.08m in 2019. If you can take a tiny slice of that humongous cake, what would it mean for you and your family?
Without further ado, here are some of the best business opportunities in the consumer electronics industry:
1. Sell used laptops and desktops
The computer usage in Australia is exceptionally high, with 66 per cent of respondents in Australia saying that they owned a PC in 2013. People are always looking for great deals, and you can take advantage of that by selling branded secondhand computers that are still as good as new or require little repair.
This venture will require a bit of startup capital, but you can minimise the costs by buying a computer franchise instead. A computer franchise will give you the initial stocks you need while taking care of supplier sourcing, and it will provide you with an established brand that people already trust. Trust is a big deal in this line of business because people need to be able to know that you’re selling legitimate items and that you won’t disappear out of thin air.
2. Start a tech blog (or vlog!)
You live and breathe gadgets and electronics, so you most likely know your way around the Internet. If you don’t, you have a high aptitude for technology anyway, so you can just learn it on the fly. The first thing you have to do is to decide if you’ll narrow down to a specific line of products like mobile phones or even digital cameras.
Then you’ll have to set up your website and start publishing helpful content. You can also start a vlog on YouTube. When you start a tech blog or vlog, you’ll be able to offer advice to your readers about the nuances of models, how to care for their gadgets, and more. Just to inspire you, TechCrunch, the most prominent tech blog in the world, is said to be earning around $25,000,000 per month.
3. Start a tech-support business
You’d be surprised how many people don’t know how to install a printer or set up a local network properly. Your technical expertise is needed in small to medium-sized businesses. You can start by reaching out to a few local companies and asking them what their most significant tech-related problems are. Then from that, work out a possible solution that you can offer. They’d be willing to pay decently for your help.
Techies will save the world, as the saying goes. If you manage to find the perfect business opportunity, you can use your skills to help the community and achieve financial independence for you and your family.