Choose your customers first
Your customers decide everything else: which phones you stock, where you sell and how much money you need. Pick one group to start with.
- Students and first-time buyers usually care most about price, so affordable Tecno, Infinix, itel and Samsung models tend to suit them.
- Office workers and professionals may want UK-used or new iPhones and Samsung Galaxy phones, and will expect a proper check and receipt.
- Other shops buy in quantity and care about a reliable supply and a fair trade price.
Ask people in your area what they're looking for and what they currently pay. That's a better guide than what's popular in Lagos.
Work out how much capital you need
There's no single right figure, because it depends on your city, your shop and the phones you choose. Be wary of anyone who gives you one number. Work out your own by adding up these costs:
- First stock: the units you plan to buy, at prices you've checked this week.
- Shop costs: rent, setup, signage and power, if you're not selling online or from an existing space.
- Getting stock to you: transport and packing, especially if you're buying from another state.
- Tools and accessories: chargers for testing, cases and screen protectors to sell alongside phones.
- A reserve for faulty units, returns and slow weeks.
- Restocking money, so you aren't stuck when your best model sells out.
If the total is more than you have, start smaller. Sell from a small display or online, buy fewer models, and let your profit pay for the next order.
Decide where you'll sell
| Option | Good for | Watch out for |
|---|---|---|
| Your own shop | Trust, walk-in customers and repairs | Rent and setup costs before your first sale |
| A shared stand | A lower-cost start in a busy area | Less control, and possibly less display space |
| WhatsApp and social media | Starting with very little overhead | Buyers can be slow to trust a seller they can't visit |
| Selling to other shops | Larger orders and repeat buyers | You need more capital and steady supply |
Many sellers combine these. A small physical location, even a shared one, makes it easier for online buyers to trust you.
Set the business up properly
Keep your business money in a separate account from day one, so you can see what's actually profit. Consider registering a business name with the Corporate Affairs Commission (CAC), because some customers and suppliers will trust a registered business more, and a business account is easier to run with one. Ask a local accountant what taxes and permits apply to your location, because rules and fees vary.
Find suppliers you can rely on
Get prices from several dealers on the same model and condition, in the same week. Visit their stores if you can, and start with a small order. Our guides to choosing a reliable supplier and checking if a dealer is genuine show what to look for. If you're not in Lagos, read how to buy from Lagos at a distance.
Buy a small first stock
- Start with a few models that people around you already ask for. Your first order is a test, not a full shop.
- Decide on the condition carefully. See brand new, UK used or Naija used for how each one affects your business.
- Test every used phone before you pay. Our UK-used iPhone checklist covers the main checks, including account locks.
- Get an itemised receipt with IMEI numbers, so you can deal with faults and show customers where a phone came from.
- Avoid prices far below other dealers. Common bulk buying scams explains why.
Price so you can restock
Your selling price needs to cover what you paid, your transport and other costs, a share for faulty units and returns, and your profit. Then check it against what it would cost to buy the same phone again today. When the dollar rises, a phone you sell cheaply can leave you unable to afford the next one.
Don't compete on price alone. A clear receipt, a short agreed warranty and honest answers about condition are reasons for customers to come back and recommend you.
Keep records from your first sale
Write down what you bought, what you paid, what you sold and to whom. You'll quickly see which models make money and which ones sit on the shelf. The Dealer Hub has a free Starter plan with invoices, customers and a stock ledger, and it opens once your identity is verified.
Getting your first stock through Dealrs
Send a product request for phones with the model, quantity, condition, the price you want to pay per unit and your delivery area. It costs nothing to send. Our team looks for it among verified dealers and sends your quote by email, usually within 24 to 48 hours. If you accept, our team calls you to arrange payment and delivery.