July 24, 2024

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Is the TV Repair Business Still Profitable?

Is the TV Repair Business Still Profitable?

The television, also known as the “telly” or the “boob tube”, is probably the most ubiquitous and cheapest source of entertainment and continues to serve its purpose satisfactorily ever since it first became commercially available in the 1930’s. The TV is here to stay and the question on whether your TV repair skills can remain a decent source of income may be answered by sheer numbers. The latest statistics I have found was from a year 2005 Wall Street Journal report that estimated the number of TV sets worldwide at around 1 to 2 billion. That’s a lot of televisions out there considering that was more than 3 years ago!

I would venture to guess that any TV repair business would still be profitable business if it knows how to get a slice of the pie that the major manufacturers’ service centers are getting by offering superior service at a lot more affordable prices.

You should also learn to adapt to the modern times and be open to learning new skills by investing a little bit of your time and resources to learning new things.

Recent trends indicate that the usual cathode ray tube (CRT) TV may be on the way out and that more and more growth is seen in the newer technologies of TV. New statistics indicate that the liquid crystal display (LCD) and the plasma flat screen TV are well on their way to impressive growth! This is true even with the current worldwide financial crisis (circa 2008-2009) that originated from the US housing credit bubble burst. Now, everyone is starting to scrimp on unessential stuff like expensive vacations but has started buying new TVs for their recreational needs at home.

The decline of demand for the traditional CRTs means there will also be a decline of prices and profitability in that area. People buying CRT televisions are seeing it more and more as disposables and would rather buy new ones instead of having malfunctioning ones repaired.

On the other hand, the increase in the demand for the newer LCD and Plasma screen TVs could mean there will also be a flood of pre-owned units in the market that thrift-buyers definitely still prefer. This is seen especially in developing countries where most people still could not afford the relatively pricier newer technologies and second-hand TV stores are still thriving.

At any rate, I think the business of TV repair remains a viable and profitable venture for anyone who’s interested so long as he or she is willing to actively identify the areas of opportunities and adapt to current market conditions.

Hence, the acquisition of new technical skills is a pre-requisite to staying competitive and on top of the business of electronics repair. This should not be as difficult as it sounds as there are now more ways you can learn, for example, LCD TV repair or plasma TV repair, without getting formal TV repair training in a classroom setting. There are now online membership sites that offer detailed step-by-step tutorials at really low fees that you could earn back in one repair job of one television unit! You can get TV repair tips online and study at your own pace but at the speed of the internet! I know that seems like an oxymoron but I think that’s a pretty fair description of the convenience the internet offers to anyone looking to learn new things.

There is definitely going to be a surge in demand for services relating to the huge number of flat screen televisions out there in people’s homes. Catch the wave before it happens and make your TV repair business grow.