The Prepaid Expo this past week offered valuable sessions for any dealers in the prepaid sector or those looking to enter it. Discussions ranged from how to prevent fraud and money laundering, to looking at alternate revenue streams, to an overview of the prepaid landscape.
One very interesting session was Upselling Wireless Repair, a discussion on key factors prepaid dealers need to think about when adding repair services in their locations. According to the Prepaid Press, 80% of prepaid stores now double as repair shops, which is a number that continues to grow. The session was led by Staymobile’s CEO, Brian Hutto; Sourcely’s Co-Founder & COO, Matt Roldan; and Injured Gadget’s CEO, Shay Kripalani. All provided a wealth of industry knowledge for attendees who either have repair shops now or are thinking of adding repair services to their company.
Focus on local repairs
The group emphasized how providing repairs that are local is a must. It may seem like a no-brainer but it’s clear customers do not want to wait for their phones to be shipped. Having to ship a device away to get fixed is not an option for many consumers given the attachment they have to their devices in today’s world. The issue of having data backed up or lost is another reason having a local repair shop is more attractive to customers; they’ll have less worry about what happens in transporting the phone to another location. The turnaround time of only a few hours is the final selling point. Even having to ship a phone in the same city can add days onto the repair so having the repair shop right in one of your wireless stores eliminates that issue. Also, it cuts out heavy shipping costs that need to be passed onto the customer, helping you to be more competitive on the price of the repair.
Invest in quality parts
With having a local repair shop, equipping your store with the appropriate types and amount of repair parts is a must. Too many times service and repair shops look to cut margins and buy unqualified parts. This is a big no-no. Having quality parts is necessary to ensure the repair is done correctly and the customer will not have to come back again. Vetting out suppliers to ensure you have one that supplies quality parts, ships in a timely manner, and has inventory on hand is something that takes time but is absolutely essential.
Invest in your technicians
Another piece of advice that was discussed focused on the technicians who do the repairs. It’s very important to have a training program created to ensure technicians are trained to perform fast and efficient repairs. Not skimping out on this is what can put you ahead of the competition in quality and speed of repairs. Good technician training programs cannot be missed out if you want to excel in offering repairs.
Boost revenues and gain the upper hand
Finally, as a prepaid dealer, offering service and repair gives you an edge. You’re able to address separate customer groups all while offering cross-selling opportunities to boost revenue and retain customers. This can also help combine cost structures for buying products and repair parts.
The prepaid sector of wireless is in an exciting time right now. The buzz between dealers and vendors in the showcase and sessions was evident. A lot of new opportunities are ready for prepaid dealers to jump on and take their company to the next level.
Looking for the right POS to support your repair service? Learn more about iQmetrix’s Service & Repair module as part of our POS, RQ.