TITLE PAGE
Student name (number)
Subject: Entrepreneurship
Unit: 2
School name: Presentation College San Fernando
School number: 160042
Territory: Trinidad and Tobago
Year of Examination: 2025
Topic: A detailed investigation into the feasibility of opening an entrepreneurial business in the
technology industry.
Name: ‘Second Life Tech’ Business Model
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Acknowledgements
Second Life Tech sincerely appreciates the support of everyone who contributed feedback to help refine
our product idea. We are also grateful for the informative online sources that provided insights for our
research. Lastly, we extend our heartfelt thanks to our teacher and group members for their dedication and
hard work, which played a crucial role in the successful and productive completion of this School-Based
Assessment (SBA).
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Table of Contents
Research Objectives ................................................................................................................. 6
Description of Population and Sample .................................................................................... 6
Description of Data Collection Instruments ............................................................................ 7
Business Model....................................................................................................................... 12
Beneficiaries ........................................................................................................................... 15
Business Operations Statement ............................................................................................ 17
Income Generation.................................................................................................................. 19
Break-even Chart Explanation: ...................................................................................... 20
Investment Model .................................................................................................................... 21
Summary of Financial Analysis ............................................................................................. 22
Conclusion .......................................................................................................................... 23
Bibliography ............................................................................................................................ 24
Appendix ................................................................................................................................. 25
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Executive Summary
This report presents the findings of market research conducted to determine viability of starting up
Second Life Tech, a cell phone recycling firm. The research was focused on gathering data to determine
potential market competitors, gauge how much potential customers are willing to pay and determine the
best method of promotion for the business. The findings of the research indicates the venture appears to
be a viable one and the report therefore outlines the business model associated with the new venture.
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Introduction
This report sets out to discuss the market research conducted to determine the feasibility of starting up
Second Life Tech and the associated business model to support the start up of the venture This business
was started as a call to action with the increased problem of electronic waste (e-waste) and the lack of
accessible, sustainable solutions for recycling and reusing old phones.As entrepreneurs we capitalised on
this relatively untapped market while doing our part environmentally.
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Research Objectives
The following objectives were used to design the market research procedure:
i) Understand potential competitors in the market
ii) Gauge how much potential customers are willing to pay
iii) Determine the best method of promotion for the store
Description of Population and Sample
The population consists primarily of adolescents and young adults who are curious about phone recycling.
In the case of Second Life Tech's market research, the population consists of young people aged 16-24
who actively use smartphones and social media. This demographic is particularly relevant as they are
frequent users of mobile devices, are more likely to engage in buying and selling second-hand electronics,
and play a crucial role in shaping digital commerce trends.
Since surveying the entire population is impractical, a sample is selected to represent the broader group.
The sample for this study consists of respondents who voluntarily complete the survey via the link shared
on social media stories by the core team members. This approach allows for the collection of data from a
diverse yet targeted subset of the population, ensuring insights that reflect the behaviors, preferences, and
expectations of young consumers in the mobile device recycling market.
Distributing the questionnaire via a link posted on social media stories has several advantages and
disadvantages as listed below:
Advantages include:
Wide reach; social media allows you to tap into a large audience quickly, especially if the core members
have significant followings. This increases the likelihood of reaching a diverse group of respondents.
Cost efficiency; Sharing a link on social media is virtually free compared to traditional marketing and
survey distribution methods, making it an affordable option for data collection.
Disadvantages include:
Limited engagement; social media users may quickly swipe through stories without engaging, leading to a
lower response rate. People may also click on the link but not complete the questionnaire.
Limited diversity; The data may be biased toward the demographic that follows the core members on
social media, potentially skewing the results if their followers don’t represent the broader market you're
trying to study.
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Description of Data Collection Instruments
The data was collected through a self-administered online survey, distributed via a link posted on social
media stories by the core members of Second Life Tech. This non-probability sampling method,
specifically convenience and voluntary response sampling, ensures quick and cost-effective data
collection from individuals who are already active on digital platforms aligning with the e-commerce
nature of the business. Solely primary sources were used.
The advantages of this approach include high accessibility, real-time data collection, and wide reach, as
social media platforms have algorithms that promote engagement with story posts. However, potential
limitations include sampling bias, as responses will be limited to those who follow the core members and
are willing to participate. To mitigate this, the survey link can be reshared across multiple platforms
(Instagram, TikTok, Twitter, etc.), and optional incentives (such as entry into a giveaway) can be offered
to encourage higher response rates.
The Results of the Survey are as Follows:
Question 1: Have you ever sold or traded in a used phone before?
Answer 1:
Question 2: What factors are most important to you when selling your old phone?
Answer 2: Participants claimed that the environmental impact and price offered were most
important to them.
Question 3: How likely are you to buy a refurbished phone?
Answer 3:
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Question 4: Which of the following features are most important to you when buying a refurbished phone?
Answer 4: Participants typically chose screen condition and warranty guarantee more frequently
than other options.
Question 5: How often do you upgrade your phone?
Answer 5:
Question 6: Where do you usually buy or sell phones?
Answer 6: Most participants claimed to use sketchy peer to peer websites for buying and selling used
phones.
Question 7: What would motivate you to choose a service like Second Life Tech to sell your old phone or
buy a refurbished one?
Answer 7:
Question 8: How often do you purchase refurbished or second-hand technology?
Answer 8:
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Question 9: Do you think the demand for refurbished phones will increase in the next 5 years?
Answer 9:
Question 10: Up to how much would you be willing to spend on a refurbished phone compared to a new
one?
Answer 10:
Question 11: What concerns do you have about selling or buying refurbished phones?
Answer 11: Among many listed concerns, the most commonly selected was “Quality and performance”
and Warranty and Return Policies.
Question 12: Which factors influence your decision to buy or sell a phone the most?
Answer 12: On average participants deemed condition most important and model least important
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Question 13: How important is the environmental impact of your phone when deciding where to buy or
sell it?
Answer 13:
Question 14: Where do you typically learn about buying or selling used or refurbished phones?
Answer 14:
Question 15: Would you be interested in promotions offering discounts on refurbished phones or cash
incentives for selling old phones?
Answer 15:
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Question 16: What type of promotion would make you most likely to sell your phone to Second Life Tech
or buy a refurbished phone from us?
Answer 16: The modal response was “extended warranties”
Question 17: Are you aware of other services or companies that buy or sell refurbished phones?
Answer 17:
Question 18: If yes, which companies or services come to mind?
Answer 18: Companies like “BLS Tech”, “ISF Tech” and “Cue Enterprise” were mentioned
Question 19: What would make Second Life Tech stand out from other services you’ve used or heard
about?
Answer 19: Cost, Environmental footprint, customer service and business practices were most common
responses.
Question 20: Of the mentioned, what is the most important factor?
Answer 20: Generally participants stated that having good business practices/etiquette was most
important.
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Business Model
Description of the Venture
‘Second Life Tech’ was started as a call to action with the increased problem of electronic waste (ewaste) and the lack of accessible, sustainable solutions for recycling and reusing old phones. As
entrepreneurs we capitalised on this relatively untapped market while doing our part environmentally. The
venture is a partnership that exists primarily online however has a dependency on direct delivery services.
Through E-commerce Second Life Tech aims to buy and recycle old phones in order to later sell them.
Vision and Mission Statement
Mission Statement:
"To redefine the lifecycle of mobile technology by providing a sustainable platform for recycling,
refurbishing, and repurposing old devices. We strive to reduce electronic waste while offering consumers
and businesses affordable, high-quality solutions that empower a greener future."
Vision Statement:
"To lead the global shift toward a circular economy for electronics, where every device gets a second life
and e-waste becomes a thing of the past. We envision a future where technology and sustainability go
hand in hand, creating a cleaner planet for generations to come."
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Value Proposition
Second Life Tech provides a sustainable and affordable solution for smartphone users by offering a
refurbished phone marketplace and a reliable supply of spare parts for repair businesses. Our service
includes buying old phones, evaluating their condition, and either restoring them for resale or dismantling
them to extract high-quality parts for distribution. The refurbishment process follows standardized quality
checks, ensuring consistent performance, while customization options—such as battery upgrades or
screen replacements—allow customers to tailor their purchases to their needs. The core refurbishment and
quality assurance operations are handled in-house, ensuring reliability and product integrity, while select
components and logistics may be outsourced to specialized partners to optimize efficiency and reduce
costs. Customers interested can rely on our direct distribution service where an employee meets them at a
mutual location. This model allows Second Life Tech to offer competitively priced refurbished devices
and parts while promoting environmental sustainability through electronic waste reduction.
Value Proposition Canvas
1. Customer Profile
Customer Jobs
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Buy a high-quality phone at an affordable price.
Sell old or damaged phones quickly for a fair price.
Find reliable spare parts for repairs.
Reduce environmental impact by recycling electronic devices.
Pains
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High cost of brand-new smartphones.
Difficulty selling old or broken phones for a reasonable price.
Uncertainty about the quality and longevity of refurbished phones.
Limited availability of trusted phone parts for repairs.
Gains
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Affordable access to high-quality refurbished smartphones.
Hassle-free selling process for used devices.
Guaranteed tested and certified phone parts.
Contribution to environmental sustainability by reducing e-waste.
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2. Value Proposition
Products & Services
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A buyback program for old and damaged phones.
Refurbished phones restored to high-quality standards.
Certified phone parts sold to repair businesses and individuals.
An e-commerce platform for seamless buying and selling.
Pain Relievers
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Competitive pricing for buying and selling used phones.
Rigorous quality control on refurbished devices.
Clear warranty policies for peace of mind.
Convenient online platform for transactions.
Gain Creators
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Cost-effective alternative to buying new smartphones.
A trustworthy supply chain for repair shops needing reliable parts.
A seamless process for customers to sell their old devices hassle-free.
Contribution to environmental sustainability by reducing electronic waste.
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Beneficiaries
Second Life Tech, a venture focused on phone restoration and transparency serves to benefit a wide range
of stakeholders while creating value for individuals, niche markets, businesses and the environment.
Included beneficiaries are as follows:
1. Customers (Buyers of Refurbished Phones & Parts)
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Individuals looking for affordable smartphones: Customers who need a reliable phone but cannot
afford a brand-new device.
Tech-savvy buyers: Those who prefer sustainable choices and support the circular economy.
Repair technicians & phone repair businesses: They benefit from high-quality, certified spare
parts at competitive prices.
2. Sellers (People Selling Their Old Phones)
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Individuals upgrading to new devices: Instead of letting old phones sit unused, they can sell them
for extra cash.
People with broken or faulty devices: Allows them to monetize damaged phones instead of
throwing them away.
3. Environmental & Sustainability Sector
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Waste reduction advocates: By refurbishing and recycling phones, Second Life Tech helps
minimize electronic waste (e-waste).
Sustainability-conscious consumers: People who prioritize reducing their environmental impact
benefit from an eco-friendly smartphone alternative.
4. Business & Corporate Partners
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Phone manufacturers & wholesalers: Companies looking to partner for phone refurbishment or
parts supply.
Tech startups & e-commerce platforms: Potential partnerships for expanding the circular
economy in electronics.
5. The Economy & Society
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Job creation: Provides employment opportunities in phone refurbishing, logistics, and customer
service.
Technology accessibility: More people gain access to affordable, high-quality devices, closing the
digital divide.
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Business Operations Statement
What the Business Provides
Second Life Tech specializes in recycling and refurbishing used smartphones, offering high-quality
refurbished devices and certified spare parts to consumers and repair businesses. Our services include
buying old and damaged phones, restoring them to near-new condition, and reselling them at competitive
prices. For phones beyond repair, we extract and sell functional components, ensuring that no valuable
materials go to waste.
Unique Abilities & Skills
Our competitive edge comes from:
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Expert diagnostics & refurbishment – Skilled technicians restore phones to peak performance.
Accurate valuation system – We assess devices based on condition, battery life, and market
demand to offer fair prices.
Eco-conscious disposal – We ensure sustainable recycling practices, reducing e-waste.
Seamless e-commerce integration – Our platform provides a hassle-free way to buy and sell
devices.
Product Differentiation
Second Life Tech stands out through:
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Certified refurbished phones – Every device undergoes rigorous testing and comes with a
warranty.
Customizable options – Customers can choose upgrades like new batteries or improved storage.
Guaranteed spare parts – Unlike unreliable aftermarket parts, we offer verified, high-quality
components.
Sustainability focus – Our model extends product lifecycles and promotes environmental
responsibility.
Operations
1. Phone Acquisition – Customers and businesses sell old devices through our platform, where they
are evaluated based on battery health, screen condition, and functionality.
2. Refurbishment & Parts Extraction – Devices are restored for resale or disassembled to extract
high-quality parts for repair businesses.
3. Sales & Distribution – We list products on our e-commerce platform, offering seamless
transactions and delivery.
4. Customer Support & Quality Control – Every product undergoes testing before sale, and
customers receive warranty options and after-sales support.
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Quality Assurance
We ensure quality through:
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Multi-point inspections – Devices go through battery tests, screen calibration, and software
optimization.
Certified components – Extracted parts are verified to be functional and durable.
Warranty & return policies – Customers gain confidence in purchasing refurbished devices.
Cost Efficiency
Our model minimizes costs by:
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Eliminating intermediaries, allowing direct transactions between sellers and buyers.
Optimizing refurbishment techniques, reducing unnecessary expenses.
Providing bulk discounts on spare parts to repair businesses.
Networks & Partnerships
Second Life Tech collaborates with:
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Repair shops and technicians to supply quality parts.
Logistics partners to ensure fast and efficient delivery.
Environmental organizations to promote sustainable tech practices.
Digital marketing experts & influencers to reach a broader audience.
By combining affordability, quality, and sustainability, Second Life Tech revolutionizes the refurbished
phone market, making high-quality devices accessible while reducing environmental waste.
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Income Generation
Within Second Life Tech’s business model there are many sources of income. Mainly we will capitalise
on:
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Refurbished Phone Sales – Selling restored smartphones at competitive prices.
Spare Parts Sales – Extracting and selling batteries, screens, cameras, and circuit boards to repair
businesses.
Repair and Upgrade Services – Offering customers battery replacements, screen repairs, and
storage upgrades for their existing phones.
E-Waste Recycling Contracts – Partnering with recycling firms for safe disposal of nonrepairable components.
The cost structure of Second Life tech is as follows:
Fixed Costs (Monthly)
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Facility Rent & Utilities – $3,000
Employee Salaries (Technicians, Admin, Customer Support) – $7,500
Software & Web Maintenance – $800
Marketing & Advertising – $1,500
Licenses & Permits – $300
Total Fixed Costs: $13,100
Variable Costs (Per Phone/Part Sold)
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Phone Acquisition – $50 - $2000 per unit (based on condition)
Refurbishment Materials (batteries, screens, casings) – $300 per phone
Shipping & Logistics – $50 per unit
Customer Support & Warranties – $5 per unit
Based on estimations, here are the projected sales for the first year of operations:
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Product/Service
Projected Units Sold
Average Price
Estimated Revenue
Refurbished Phones
1000
$1000
$1 000 000
Spare Parts
10 000
$50
$500 000
Repair Service
2000 jobs
$80
$160 000
E-Waste Recycling
Contracts
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40 000
Thus the total revenue approximately would be 1.7 million. The total expected expense (fixed + variable)
equates to $1,357,200, therefore the projected annual profit would be $342,800.
Using the break-even formula, a statement and a chart was done to represent the findings.
Ie. break even point = fixed costs ÷ (sales per price per unit - variable costs per unit)
Using an average product sale price of $140 and a variable cost of $80 per unit:
Break-even Chart Explanation:
At 2,620 units sold, revenue will cover all fixed and variable costs. Sales below this value indicate the
business is at a loss whereas sales above this value indicate the business is at a profit. Given our 15,000
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total projected sales, we will exceed the break-even point by a large margin.
This analysis shows that with the right sales volume and cost control, Second Life Tech will generate
sustainable income while making e-waste recycling profitable.
Investment Model
For Second Life Tech, we believe using friend and family endorsements (which are not necessarily in
cash but phone donations) and government grants are most optimal. Friends and family initiate a loyal
customer base and early market testing. Government grants add a layer of business credibility. Both types
of investments ensure that the business can start up with no creditors and unwanted expectations
(financially nor operation-wise).
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Summary of Financial Analysis
Financial Request
To successfully launch and scale Second Life Tech, we require $500,000 in starting capital. This will
cover:
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Initial Inventory Acquisition (purchasing used phones) – $200,000
Refurbishment & Repairs (tools, labor, testing) – $100,000
Operational Costs (facility rent, salaries, logistics) – $120,000
Marketing & Branding (advertising, website, app development) – $50,000
Legal & Miscellaneous (business registration, insurance) – $30,000
Source of Funding:
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40% Angel Investors ($200,000)
30% Bank Loan ($150,000)
30% Personal Investment & Grants ($150,000)
Financial Statements
1. Income Statement (Projected for Year 1)
Category
Amount ($)
Revenue (Phone Sales & Parts)
1,200,000
Cost of Goods Sold (COGS)
400,000
Gross Profit
800,000
Operating Expenses
300,000
Net Profit Before Tax
500,000
Taxes (25%)
125,000
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Net Profit After Tax
375,000
2. Cash Flow Statement (Projected for Year 1)
Category
Amount ($)
Starting Cash Balance
500,000
Cash Inflows (Revenue, Investments)
1,350,000
Cash Outflows (Expenses, Taxes, Loan Repayment)
925,000
Ending Cash Balance
425,000
3. Balance Sheet (Projected End of Year 1)
Assets
Liabilities & Equity
Cash: 425,000
Loans Payable: 140,000
Inventory: 150,000
Taxes Payable: 50,000
Equipment: 75,000
Owner's Equity: 460,000
Total Assets: 650,000
Total Liabilities & Equity: 650,000
Conclusion
Second Life Tech is financially viable, with strong revenue potential and a clear break-even point at
2,620 units sold. The requested funding will allow us to scale operations, enhance product quality, and
dominate the refurbished tech market.
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Bibliography
Simply Psychology. (2023, December 13). What is a questionnaire and how is it used in
research? https://www.simplypsychology.org/questionnaires.html
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Appendix
Questionaire
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