A recession can cause a major setback in any country’s economy and we have been in a recession since the beginning of the pandemic. It is well-known that businesses suffer and their productivity is edged up when a recession takes place, however, some businesses can take advantage of it.
You might be wondering which business can flourish in the time of emulation of doomsday?
Let me give you a clue, what do people do with their stuff more often than buy a brand new one?
Repair! They get it repaired.
It’s also the psychology of people to get their devices fixed rather than getting a new one. It’s because:
- People are change-resistant.
- It is more economical (fixtures usually cost less than new ones).
- Sometimes you are associated with an item that you refuse to give it up (e.g a gift from a beloved one).
Mostly these points are applied to a cell phone repair business because it contains hardware and software fixtures and it can be as less significant as a crack on your screen protector or as costly as replacing a battery.
And if you manage your business with the right tools such as cell phone repair POS software, you can for sure survive and thrive pretty well during the recession.
Let me share with you how a repair shop can be profitable during tough economic times (recession).
Maximum Utilization of Current Resources
Recession hits the economy as bad as a high tide hits the shores destroying the sand castles to the ground. Of course, it will take additional time and effort to build it up from the ground again. The same goes for the recession, it hurts every existing business whether it’s food, clothing, or even repairs but in case of repair you have a bright chance let me tell you how.
During the economic lapse people tend to go to survival mode, i-e, they are more likely to store and reuse their existing resources and the same goes for the repairs.
For instance, prices of phones and cars are skyrocketing during the recession, imports and exports are disturbed and foreign exchanges are collapsing. In this situation it is back-breaking for people to buy new items hence they have two choices:
- To get the new one for an excessively high price and crippling their budget
- To wait for the recession to end and don’t have a device until then at all
- To get the current item fixed and keep using it when the situations are favorable again
So what will you choose?
Of course the third one! Who would want to wait for the recession to end to buy stuff?
This is where the repair shops can do their magic of fixtures. Especially local repair shops who couldn’t make much profit because of new phones and features coming every week or the bigger sharks providing more competitive prices for new phones instead of repairs. People will save money and spend it on fixing their devices. They can wait for the iPhone’s new model but they cannot work with the current broken device.
With all the customers barging in for repairs, repair shops business can earn a great fortune and can do it even better by the use of a point of sales software, in which they can keep track of all their customer’s to-be repair or repaired devices.
The rise in Employment Opportunities
As I mentioned before, the local repair shops can have a better chance to gain profit but you know the repairs don’t happen themselves. It requires skilled professionals and technicians to understand the problem in your device whether it’s your phone, car, or computer, it has its specific technicalities and only trained professionals can cater to them.
With the rise in the demand for repairs, there is a rise in the demand for better technicians, hence creating better employment opportunities. With this your repair shop can have the profits it deserved from the beginning and to manage all the customers and employees you can use a cell phone repair POS software.
People have a habit of trusting bigger names but they forget these are the skilled individuals who do the job so when people will have their devices repaired from repair shops it will create a convenient option for them that is more economical compared to the ones they used to have.
Plus with the deficit of transport, they will also save time and cost of transportation which was utilized while sending the device back and forth for repair.
Score the Trust of Customers by Availability
Since bigger industries have lost a chunk of business due to economic and political barriers if the user has a broken device he only has an option to come to the repair shops for their repairs. Here an opportunity is created for the repair shop owners to gain the trust of these customers so that they make your repair shop their go-to store even after the recession.
Since you will be fixing their devices at lower rates and better quality, trust will develop.
Moreover, you will have an up and running inventory by the local suppliers, promoting their business as well. Customers will have unparalleled trust because you will be using modern technology like inventory management software to manage your device’s items and inventory.
With these traits, customers will be your walking talking proof of quality repairs, and you will not only gain a loyal customer but free advertisement too. So availability is stability!
In a nutshell
One reason people rely on renowned brands is that they use advanced technology to facilitate them, which you can also achieve by using a repair shop software to manage repair tickets and to update the customers.
Above all, during the recession, it’s all about availability and low cost for the repair jobs and if you have achieved the above-mentioned points you are making a smart move of running a repair shop during the recession. Check out https://appliance-repair.