iSold It

iSold It is a new franchise opening up in Australia. So far, it looks like they’ve only got one store in Ballarat but in the US, they’re apparently the largest seller on eBay.

The concept is straight forward… one of those “why didn’t I think of that” kinda ideas. They are piggy backing off the eBay phenomenon and providing a service to help people sell their trash. All you have to do is drop it off at one of their soon-to-be many store locations. They take care of the rest. They take the professional photos, post the item online, holds it in their inventory in store, and they even answer questions from buyers. When it sells, they pack and ship it, and send you the payments.

Sounds like a great concept - especially for the older folks who don’t know the difference between a cup holder and a dvd tray. The commission is a bit steep though. Their website says they take 35%. That’s huge. I would rather post it up myself but I’m sure they are others who’d prefer everything done for them. I’d imagine that, for the internet illiterate, this would be better than dropping it off at Cash Converters.

Still keen? Here’s the costs to set up your own iSold It store:

• Franchise Fee*: $50,000
• Initial Training Fee*: $5,000
• Store-in-a-Box**: $110,000
• Working Capital (for costs such as rent, rates, wages and overheads): $10 – 30,000

TOTAL: From $175,000

* Franchise fee and initial training fee are fixed
**Store-in-a-box costs are fixed, however general building and renovations may be required depending on the location of the store and lease agreement

It’s early days yet but it’d be interesting to see if this takes of in Australia…

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