Erica Douglas, co-owner of electronics repair company OneUp Repairs, explains how she originally invested in the business with her partner John in December 2014.
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“So I put in about 17,000 dollars for about half of the business at that point.”
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More from Erica Douglas
AssertionSupported
Apple refuses to sell repair parts to independent shops
“Apple does not actually sell repair parts.”
Erica DouglasJun 17, 2016▶ 8:21EP 328: She Bought 50% for $17k, Now Does $1M Per Year in iPhone Repairs
Insight
Douglas: Never pick a device repair shop based on price alone
“So one thing I would say is never pick a repair shop based on price alone. Ask them about the quality of their parts and where they come from.”
Erica DouglasJun 17, 2016▶ 9:36EP 328: She Bought 50% for $17k, Now Does $1M Per Year in iPhone Repairs
AssertionNot checkable as stated
OneUp Repairs reached $380,000 in revenue in 2015
“380,000.”
Erica DouglasJun 17, 2016▶ 5:31EP 328: She Bought 50% for $17k, Now Does $1M Per Year in iPhone Repairs
PredictionNot checkable as stated
OneUp Repairs expects over $1M in revenue for 2016
“I don't have exact numbers because we have two stores now
and I'd have to add them up together, but I know we're on track to do well over a million dollars in revenue this year.”
Erica DouglasJun 17, 2016▶ 6:09EP 328: She Bought 50% for $17k, Now Does $1M Per Year in iPhone Repairs
AssertionNot checkable as stated
Douglas: OneUp Repairs operates at roughly 25% gross margin
“It's a gross margin is about 25%.”
Erica DouglasJun 17, 2016▶ 6:18EP 328: She Bought 50% for $17k, Now Does $1M Per Year in iPhone Repairs
AssertionNot checkable as stated
OneUp Repairs generated $62,000 in revenue in 2014
“About 62,000.”
Erica DouglasJun 17, 2016▶ 5:27EP 328: She Bought 50% for $17k, Now Does $1M Per Year in iPhone Repairs
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