US DROP-OFF CHAIN iSold IT has established a UK head office under Master Franchisee Phillip Molloy (pictured), who began recruiting his first phase of sub-franchisees with an attendance at the British & International Franchise Exhibition in London in March.
In the US iSold It has opened 195 stores in under two years and last year grossed US$20m sales. A further 1,000 stores are under contract worldwide. Its 'clicks & mortar' store concept enables eBay and other internet auction customers to drop off goods they would like to sell online. iSold It then manages the entire sales process, bridging the needs of those who want to utilise the easy-sell advantages of the likes of eBay but avoid the hassle.
The UK's first iSold It store opens in the West Midlands in the autumn, followed by a managed roll-out of stores across the country. "The drop-off store concept is the most exciting business opportunity to hit the UK for a long time," says Molloy. "It's a wonderfully simple proposition and, as the extraordinary success in the States has proved, brilliantly executed.
"There are compelling reasons for believing that the concept will take off here in the UK - 90 per cent of the world's 180 million registered users of eBay only ever buy things, they never sell. Many are nervous of selling direct on eBay or simply have no time to sell their items on eBay. With 13 million eBay users in the UK, that's an enormous opportunity for an operation which makes the whole process of selling easier.
"We know that in the States, organisations are literally sitting on small fortunes - warehouses and stockrooms filled to bursting with redundant stock. But they have no idea how to get rid of it whilst getting a return. Now there is a bona fide, practical solution."
Published: 10 May 2006
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