The basic business is broken down into 5 main actions dealing with Appliance Control Boards which are in more than 95% of all US and Canadian Major Home Appliances.
First and foremost, let me make this statement. You need no technical expertise to run this business. Accurately diagnosing and refurbishing each board has been broken down into 3 simple steps and the full refurbishment process takes less than 15 minutes per Control Board which I have done many hundreds of times. Generally, I can do each board from start to finish in about 5 minutes flat.
Here are the five main business actions:
1) The buying of failed Major Brand Appliance Electronic Control Boards. (We do this for you with no mark-up. We make sure you have the supply you need)
2) Inspecting, diagnosing and refurbishing the Control Boards.
3) Selling the Refurbished Control Boards on eBay, Amazon Etc.
4) Repairing Control Boards for Used Appliance Stores.
5) Repairing High End Appliance Control Boards for Repair Techs.
The Control Board is the onboard computer that runs the Appliance whether it be a refrigerator, washing machine, wall oven or any other Major Home Appliance.
The business can be done from home with little space needed. You could do this from a single desk in your living room or a spare bedroom or in the garage. Ideal if you're living in an apartment or have limited space. It has a very low overhead and cash flow is often turned over in less than 24 hours. The profit margin is right around 80%.
THE OPPORTUNITY
I worked in the Appliance Repair and Used Appliance Business for 24 years. I watched and participated in the transition from mechanical controls like timers and so forth to fully computerized Major Home Appliances all the way through the 1990s to 2015.
For all the manufacturers like Whirlpool, Maytag and General Electric and so forth the manufacturing and retailing of replacement Appliance Control Boards for appliances that they've already sold to the public is a massive additional Profit Center for them. So just to be clear these are replacement Control Boards that these manufacturers are selling to customers in the United States who have already bought their washing machines or refrigerators or similar several years ago, and now they need to replace the Control Board whether it is through a repair company or they are doing the repair themselves. Chat GPT estimates that in 2024 these American manufacturers sold over $600 million worth of these replacement Control Boards to American consumers.
These Control Boards are extremely cheaply made. They are designed not to last. The oldest Appliance I ever worked on was a 94-year-old GE chest freezer which still had the same compressor in it and required just a new fan motor to keep it running. Today you are lucky if you can find any Major Home Appliance that's 94 months old that hasn't needed at least one or two service calls already. I used to train staff for Maytag. One of the things I learned while I was doing that was that 18% of new Maytag appliances delivered into a US home required at least one service call under warranty in the first 12 months of ownership. And that was Maytag, and they were generally a cut above the rest.
WHERE DO YOU GET YOUR SUPPLY OFF BOARDS TO REFURBISH
That is my responsibility and part of the service you are paying for. We set you up with the technicians and Appliance companies to ship you pretty much as many Control Boards as you need. I've worked with and around these people for 25 years. I know what makes them tick and I know what they respond to. Getting you a consistent supply is no more than a few phone calls for me.
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