Startup Idea: Make A Living By Refurbishing Appliances (Yes, Really!)

Posted on Sep 23 2015 - 8:01pm by Editorial Staff

We all know that if you try your hand at something, and you work hard, you are likely to succeed. Of course, some people aren’t too sure what their forte in life is. If that sounds like you, then it’s a good job you’re reading today’s blog post!

I’m going to discuss how you could set up a business refurbishing and renewing old appliances. Yes, that means giving a new lease of life to things like fridge-freezers. Other appliances like washing machines and dishwashers can also get refurbished too.

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The business case for refurbishing old appliances

People know that the appliances they use in their homes have a limited lifespan. In other words, they only last a few years before they stop working as they should. An easy solution, albeit an expensive one, is just to replace the “dying” appliance with a brand new one.

But, the problem is that we as humans are not doing enough to repair and reuse our appliances. Some may get scrapped while others end up in landfill sites or even dumped in rivers! There is also the financial cost of replacing faulty appliances with new ones.

Most faulty units only need simple repairs to return them back to good working order. A significant amount of householders can’t afford to buy new appliances. But, they still set themselves up for financial ruin by spending above their means.

There is a clear business case to set up an appliance refurbishment service. You’ve got a gap in the market you can cater for, and you can make a good profit too. Especially when most of your stock can get obtained for free!

So, how do you go about breathing new life into old appliances that would otherwise get scrapped? It turns out there isn’t much to the process. Here is what you need to know:

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Repairing cosmetic damage

All too often, people scrap their appliances because of light cosmetic damage. But, did you know that you can fix those problems and make a healthy profit for your troubles?

For example, scratches and surface rust can get removed with the light use of an angle grinder. You could then electroplate the exterior using a few simple ingredients like rochelle salt. There’s also the option to powder coat the appliances if you’d rather go for that finish instead.

Also, rubber seals inside appliances are straightforward to replace with new ones. People usually get rid of smelly washing machines because of mold-covered door seals. The part itself doesn’t cost much, and the removal and installation process is easy.

Replacing faulty parts

You might not know it, but there are scores of companies that supply parts for appliances. From electric motors to compressors, you can find almost any part with ease. And, thanks to the Web, parts aren’t hard to find for discontinued models and brands!

Who will be your target market?

Once you’ve fixed the appliances, you may be wondering how to sell them. The good news is those items you refurbished are in demand everywhere!

The easiest way to sell them is by having a retail store. Of course, you should also consider selling them online. Customers can then collect their “new” appliances from your store. Or you can offer a delivery and installation service.

So, when will you take advantage of such a lucrative market?

About the Author
Editorial Staff

Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.