Technology Franchisor Has over 400 Stores under Contract to Open in 32 States
PASADENA, Calif.--Feb. 15, 2005--iSold It, the nation`s leading eBay drop-off chain, announced today they are now the nation`s number one seller on eBay. In addition, the company announced 50 iSold It stores are now open, with over 400 franchise stores under contract nationwide.
According to the latest figures available, Novato Technology`s Nortica 100 ranking of top eBay sellers shows the top three sellers in the country completed $1.22 million, $1.07 million and $1.05 million, respectively, in December 2004 sales. With nearly 6,000 new items up for auction each week on eBay, sales across iSold It`s franchise network are running above the current sales of these top three sellers.
"That makes us the new number one," says Ken Sully, CEO of iSold It. "After only 13 months of operation, we`ve grown from one store to a chain of 50 locations open. Most of our stores are very young and still growing. Combined with another 150 stores scheduled to open this year, iSold It will soon be generating several million dollars per month in eBay sales."
"I believe that iSold It`s substantial number of stores and volume of sales show that there is a whole new market of people who would like to sell on eBay, but don`t have the time or inclination to do it themselves," said Scott Kessler, Internet Retail Equity Analyst for Standard & Poor`s. "In my opinion, the early success of iSold It demonstrates the enormous potential of the retail drop-off store concept."
With over 400 stores under contract, iSold It is opening 12 to 15 stores per month. Continued growth at this rate would allow iSold It to reach its goal of having 200 stores operating by the end of 2005.
"By building a national network of `clicks and mortar` stores with technology connections to the Internet, we`re quickly realizing the first stage of our vision," says Elise Wetzel, Founder of iSold It. "With our growing national presence, we will begin to leverage our cost and location advantages to greatly expand our customer base beyond households. Ultimately, we believe that iSold It will become a primary channel to selling anything over the Internet."
About iSold It
iSold It offers its franchisees a turn-key program that makes it easy to open an iSold It drop-off store in their local community. The company hosts a proprietary software system that allows independent stores to easily interface with e-commerce sites, manage their inventory, create management reports and efficiently pay customers through our bulk-rate check payment system. In addition, iSold It helps franchisees secure store locations, orders and installs their turn-key `store-in-a-box` build-out, provides training and support, and leads overall global and local marketing efforts.
The concept for iSold It was created by Elise Wetzel as she was helping to fundraise for a new playground at her children`s school. Elise recognized that auctioning donated items on eBay could be a powerful fundraising tool, especially if there were a service that helped make it easy. From this small idea for a school benefit came the foundation for iSold It -- providing an easy way for any person, business or organization to sell things online.
Today, iSold It is considered the leading concept in the emerging drop-off store category. iSold It is registered to sell franchises in 48 states and currently has over 400 stores under contract. For more information or to view our current auctions, visit our website www.i-soldit.com.
iSold It, LLC is a privately held company. Each iSold It stores operates under a unique eBay ID. iSold It(R) and the iSold logo are trademarks of iSold It, LLC.
iSold It
Cheryl Cook, 773-929-2194
Cheryl@i-soldit.com
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