8 Electronics Store Success Stories [2024]
An electronics store sells any electronics from smartphones to televisions, laptops, refrigerators and other home appliances. With the technological advancements in the past decade, the electronics sector is expected to grow by 5.6 percent over the next five years.
To start an electronics store, research and find the right location for your store, then register your company at the state level to get the tax ID number.
Then, research your competition, which includes online stores and the local electronics store in your area. You should examine what they sell and focus on the products you can provide at a better price than the competition.
Here are some real life success stories of starting a electronics store:
1. Hand Held Legend ($2.76M/year)
Founder Kyle Capel came up with the idea for Hand Held Legend while restoring old Game Boys as a hobby during graduate school. He began selling modified consoles on eBay and realized there was a market for DIY upgrades and modifications. After launching the company with a Shopify store and one product, they have experienced consistent revenue growth, with nearly 40% of sales coming from international customers.
How much they make: $2.76M/year
Current team size: 5
Founder Kyle Capel started Hand Held Legend, a DIY upgrade shop for vintage handheld consoles, which generates an average revenue of $27,000 a month and grew 30% in Q1 of 2020, offering an array of modern LCD upgrades for various consoles and serving an audience of mostly male customers aged between 13 and 45, 40% of which are international.
2. Retro Radio Farm ($48K/year)
Allen Chiang, founder of Retro Radio Farm, came up with the idea for his business when he stumbled upon two old radios at a flea market in 2012. Despite having limited knowledge of radio repair, Chiang taught himself how to fix and restore these radios, eventually turning it into a profitable side business. With a growth rate of 20% every year, Retro Radio Farm is steadily increasing its revenue, although it has not yet reached a level that would allow Chiang to quit his full-time job in IT.
How much they make: $48K/year
Current team size: 2
Retro Radio Farm founder, Allen Chiang, earns $50k per year as a side business restoring old radios and offering Bluetooth MP3 upgrades, with the business growing 20% every year.
So... can you actually make money with a electronics store?
Of course. There are millions to be made in this industry.
But how?
- Research real, profitable businesses and see exactly how much money they make.
- Study exactly what works, and what doesn’t.
- Take action, because now you have the roadmap.
Join Starter Story and build your next big thing:
3. LEVDisplay ($48K/year)
Jeff, the founder of LEVdisplay, came up with the idea for his business after stumbling across the Lyfe planter on Kickstarter. Intrigued by the concept of levitating magnets, he wanted to build something similar, so he sourced high-quality hardware from the company that manufactured the Lyfe brand planters and started selling them on Amazon. He is now focusing on expanding his customer base and building his own website to reduce reliance on Amazon.
How much they make: $48K/year
Current team size: 0
LEVdisplay is a unique e-commerce business that began by creating levitating wooden planters, selling 150 units on Amazon over the holidays, and is currently earning 50% margin on sales before expanding into two new product lines next year.
4. Plugable Technologies ($14.1M/year)
How much they make: $14.1M/year
Current team size: 42
Learn how owner Bernie Thompson built Plugable Technologies into one of the most well-known USB device brands in America and the world, while using his own in-house tools to regulate his Amazon business and helping other sellers with Amazon PPC ads.
So... can you actually make money with a electronics store?
Of course. There are millions to be made in this industry.
But how?
- Research real, profitable businesses and see exactly how much money they make.
- Study exactly what works, and what doesn’t.
- Take action, because now you have the roadmap.
Join Starter Story and build your next big thing:
5. Smartbuy Kenya Limited ($360K/year)
Mark, the co-founder of Smartbuy Kenya, came up with the idea for the e-commerce website specializing in electronics after building an e-commerce site for a B2B company he was freelancing for. Recognizing the potential in the industry, Mark and his friend Abdirizak decided to start their own venture, investing in SEO to drive traffic to their site. After months of hard work, their determination paid off, and they started seeing a spike in traffic, leading to the growth of their business, which now generates an average of $30,000 per month.
How much they make: $360K/year
How much did it cost to start: $500
Current team size: 20
Smartbuy Kenya, an e-commerce website specializing in electronics, increased their monthly revenue from $8,000 to $30,000 through investing in SEO, cutting down on ad-marketing costs, and providing quality products and customer service, with plans to expand internationally and diversify their product range.
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- 4,818 founder case studies
- Access to our founder directory
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- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
