Selling phones on installment is now a big part of almost every mobile shop. Customers can't pay the full price at once, but they can pay in installments — so sales go up. But it also brings some risks. Below are the five most common risks and ways to reduce them.
1. The customer stops paying installments
This is the biggest risk. Many people pay a few installments after getting the phone and then stop. Solution: keep a locker on the phone that locks it when an installment is missed. To use the phone, they have to pay — this one rule works better than anything else.
2. Resetting the phone to get around the lock
Many customers know that a factory reset removes apps. Solution: install the locker in a way that blocks resetting and removal, so that the shop gets an alert if anyone tries. It is also important to keep FRP on with the shop's Gmail at the time of sale.
3. The customer disappears
Changing address or switching off the number is very common. Solution: keep the NID, address and a guarantor's details at the time of sale, and have a way to see the phone's live location.
4. The paper ledger gets mixed up
If you keep a hundred customers' installments in a notebook, mistakes about who paid how much and who still owes what are bound to happen. Solution: keep every installment sale as a contract in software, so the dues list is one click away.
5. Calling people all month to ask for money
Calling everyone on their installment day takes both time and patience. Solution: automatic SMS reminders before the date and a notice on the phone's screen, plus an easy way for customers to pay through bKash/Nagad.
Final word
Installment risk can never be brought down to zero, but with the right rules and tools it can be reduced a lot. Then you can confidently offer installments to more customers — and sales go up too.
Read more: The EMI sales business model · FRP lock guide · Device Locker · Live Location
