Growing market for repair businesses?

I stumbled upon this site recommending repair as a good money-making ‘side hustle’. I don’t particular like the trend towards ‘gig work’ in general, but interesting to see nonetheless.

We recommend repairing broken electronics as a side hustle for those who have the necessary technical skills and are looking for extra cash. This task involves fixing various electronic devices such as smartphones, tablets, computers, and other gadgets. Initially, you will need to invest in tools and spare parts, and there is also a learning curve for those not already skilled in electronics repair.

More interestingly, it links to this bit of market research predicting growth in the business of repair:

Interesting to see environmental awareness and demand for DIY repair as drivers for opportunities for repair businesses.

The market is expected to grow in the coming years due to the increasing complexity and sophistication of electronic devices, as well as the growing awareness of the environmental benefits of repair and reuse over disposal. Additionally, the market is also driven by the rising trend of do-it-yourself (DIY) repair and maintenance, which has created new opportunities for small repair shops and individual entrepreneurs.

Not quite sure who Precedence Research are, but it appears quite thorough on the surface of it.

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Super interesting!

@Alex_Bunodiere, this sounds really relevant to some of the research you were doing into alternative business models for repair. Have you come across this market research before?

Agreed @neil - not a fan of the ‘hey, why not make some diesel money doing this’ schtick.

Taking their listicle reduction, I suppose Gigworker can apply it to almost any profession:

:no_entry: Cons

  • Initial Investment Required: An initial investment is required for tools and spare parts for brain surgery. You may also need to invest in training, white coat and a mop.
  • Learning Curve: If you are not already skilled in brain surgery, there is a learning curve to become proficient - normally around 16 years, but at least it’s not rocket science!
  • Risk of Further Damage: There is always a risk of causing further damage to the patient while operating on it…sorry, them…but what do you care, it’s just a side hustle…

I’d love to discuss this further, but I’ve just invested $80 to start my own business which gigworker says will net me a cool $400 a month. If you want me, I’ll be in Monaco watching my servants swabbing the yacht with used fifties…

:money_mouth_face: :ship: :champagne:

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:joy: True story, many moons ago I did some part-time work stuffing envelopes when I was saving up for my first laptop - let me know if you want me to send my resume over…

The gigworker fluff aside, I’m interested if you find anything of note in the market analysis from Precedence Research @Lee_Grant ?

Look I’m not knocking stuffing as an occupation - I just worry about the little guys who’ll struggle to stay afloat once Big Lope unleashes an army of AI stationery squeezing robo-fillers.

As you’ve said, the research is interesting but doesn’t tell us anything which ‘we’ don’t already know:

Additionally, the market is also driven by the rising trend of do-it-yourself (DIY) repair and maintenance, which has created new opportunities for small repair shops and individual entrepreneurs.

I suppose that it’s positive that there’s so much data around to support the case for repair from both a financial and environmental perspective, that a mainstream research company can compile a report which may help generate interest from other media outlets.

It’s interesting that the mention of ‘customer trust’ relates only to the quality of parts and not the workmanship of the repairer as both are vital if repair is to receive the mass consumer embrace we’re striving towards. Training (or certification) isn’t cited as a ‘Key Market Challenge’.

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I see this more positively. I imagine the repair market will grow exponentially in the next 10 years. As the push towards carbon neutrality and circularity picks up momentum we will inevitably see an increase in repair shops. Sure there will be some challenges but I have to believe in 10-15 years time repairing consumer electronics will, once again, be part of day-to-day life.

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I’m afraid as the electronic components getting smaller, it requires more sophisicated equipment to repair. I’m living in UK but my Mac was just sent back from Czech for replacing the trackpad only. How to stock necessary components is also critical.

In fact I have just contacted a local franchise for white appliance. Like @Lee_Grant said the initial investment is not cheap too.

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