Building on its base of a single eBay drop-off store in Pasadena, CA, franchiser iSold It LLC has signed agreements to open 38 stores in California and Texas. It expects to have about 20 open for business by year-end, president and founder Elise Wetzel tells Internet Retailer.
ISold It, one of about 20 new franchising companies with plans to open eBay drop-off stores throughout the U.S., expects to open six stores by this summer in the metropolitan areas of Los Angeles, Houston, San Antonio, and Austin, TX. Wetzel, whose family is associated with the Wetzel’s Pretzels chain of pretzel store franchises, says ISold It expects to be in ten major U.S. markets by the end of this year. “We have responded to almost 1,000 franchise inquiries from all over the country,” she says.
ISold It, which is based in Pasadena, charges franchisees a one-time startup fee of $60,000, including the franchise fee, training and site construction, Wetzel says. Franchisees also pay 4% of annual revenues as royalties to iSold It, plus another 1% of revenue to support a corporate advertising fund, she adds.
EBay drop-off stores serve consumers who drop off products to be listed and sold on eBay Inc.’s eBay.com. Unlike some eBay drop-off stores that also offer separate business services, including shipping and fax transmissions, iSold It will focus only on eBay listings, Wetzel says. EBay drop-off stores operate independently of eBay Inc.