May 24th 2023
You’ve turned your dream small business plan into reality. You’re about to hire and grow your team. You have the resources to start accepting orders. And you’re now at the important juncture where you decide the type of technology and hardware to put in place.
You’ve heard a lot about refurbished electronics lately. There are multiple sellers stocking reconditioned or pre-owned laptops, cameras, and other office equipment that you need. But really is buying refurbished devices a good idea?
You’re hesitant to make this call. We get it.
It’s an important choice, especially when the technology you put in place has a direct impact on business performance. Truth be told, there’s immense value in buying refurbished electronics for a small business. Value that will feed into your biggest performance indicator - the ROI.
First thing first - let’s close our eyes and shake off those jarring images of broken screens, dusty laptops, and locked phones that no one has used for decades. Those are all myths about refurbished tech. Follow along, and you’ll be surprised to see how refreshing refurbished electronics can be!
In an enlightening Refurbished Computer and Laptop Market report, small and medium sized enterprises were ranked as the largest group of buyers of refurbished laptops. With education and government institutions following close behind, these figures contribute to the compound annual growth rate of 11% to the circular tech industry.
So, yes you’re certainly not alone here. Regions like North America, Europe, and Asia Pacific carry the baton for using refurbished technology in business sectors. If you’re on the fence about the worth of refurbished electronics, let’s get some insight into their value for your small business.
Your small business is your brainchild. You want quality products to make sure it kicks off. Refurbished electronics provide inexpensive value where you still get the best tech without breaking the bank.
You’re not looking for cheap, cut-price items. You’re interested in refurbished, value-laden products that are 100% functional and are backed by excellent customer service. When bought from a certified, trustworthy seller, refurbished can help you save money while being covered by comprehensive warranty.
There’s something familiar (and comforting!) about a technological ecosystem you’ve always used. You know your way around it, you know what to do - and well, what not to. There’s no training downtime. And hence, no additional costs. That’s an option refurbished tech provides, especially for small businesses, so you can hit the ground running.
Models and systems that have been discontinued are often available in the preloved market. They’re spruced up and upgraded with the latest bells and whistles, and are ready for a fulfilling second life with a new owner.
Being an eco-friendly business is no longer a ‘nice touch’. As awareness about tech waste and the impact of carbon emissions rises, a huge percentage of your market will only buy from sustainable businesses.
According to DIY Marketers, 80% of the small businesses interviewed believed sustainability was important to 70% of their buyers. Hence, as you build your business from the ground up, adding green and sustainable practices to the core will be a great way to set the tone for success.
Thinking of automating your point of sales with iPads? Trying refurbished tech is a great way to initiate this change while staying within budgets. You can choose between various refurbished tablet or iPad models, price points, and quantities - all depending on the scale of automation needed.
Not only will this minimize your fear of this change falling through the cracks, it will also help recover investments with certified buyback programs.
This is where the true worth of the circular economy lies. There is so much more life in a laptop, phone or tablet beyond the 2-3 years after it is launched. While upgrading will definitely be needed down the line, as your business starts operations, doing so with preloved devices won’t put unnecessary financial strain.
It will help keep capital expenditures to a minimum as you expand and work on creative ideas. Therefore, refurbished phones, laptops, and cameras present an opportunity to upgrade with devices that are already in the market - making your purchases eco-friendly and helping eliminate a percentage of carbon emissions as well.
You started your business to offer a service, a solution to a problem that will be appreciated by the market. And to continue doing that, you need the best technology in place. Refurbished electronics like certified preloved laptops, reconditioned cameras, and renewed tablets are a great way to add value and grow your business.
They help reduce upfront cost with the upside of becoming sustainable and eco-friendly. Now that is a savvy business choice.
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