E-COMMERCE
iSold It to open 40 stores in Ireland by 2010
26-01-2006
by Charlie Taylor
iSold It, a retail chain that makes it easier for internet users to sell goods on eBay has officially opened up for business in Ireland.
The California-based company, which currently has over 600 stores franchised stores in 48 states in the US, launched its first European store in Sandyford in Dublin in November. The firm said that it intends to open 40 stores in total in Ireland by 2010 leading to the creation of up to 200 new jobs. The company's second store, which will be based in Galway, is expected to open in early March.
iSold It promises to take the hassle out of selling items via the online auction site eBay. Sellers simply drop off items for sale and it promises to do the rest.
"If you have an item that you have for sale, we do a bit of preliminary research on it to see how much it's worth and as long as its worth more than EUR30 we'll photograph the item, write descriptive copy about it and list it on eBay for seven days," Liam Bodenham, managing director of iSold It told ElectronicNews.net.
"We answer any questions that potential buyers have and once the auction has ended and the item sold, we then arrange packing and shipping. It's absolutely hassle-free. You don't have to give any of your personal details over the internet or bother with PayPal, we take care of the whole process," he added.
iSold It was first established by Elise Wetzel as part of a fundraising effort to gain funds for a new school playground by selling unwanted items on eBay. The company, which operates on a franchise basis, opened its first store in Pasadena in 2003. It claims to be the biggest seller of goods on eBay in the US and it is currently opening at least one store per day around the world.
According to Bodenham, the typical cost of operating a franchise in Ireland ranges between EUR90,000 and EUR150,000, depending on factors such as rent, labour, size of the store etc.
ISold It hosts a proprietary software system that allows independent stores to manage their inventory, create management reports and pay customers through a bulk-rate cheque payment system. In addition, the company helps franchisees secure store locations, orders and installs their turn-key "store-in-a-box" build-out, provides training and support, and leads overall national and local marketing efforts.
Speaking at the opening of the Sandyford store on Thursday, Minister for Trade and Commerce Mr. Michael Ahern said that he believed iSold It would prove popular with Irish consumers.
"Companies like iSold It represent a new breed of competitive firm that bases their success on knowledge and innovation. They are a pointer towards the future of Irish business," said Ahern.
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