Auctioning4u buys iSold it UK
According to a press release issued by Auctioning4u on 09 May 2007, it has bought the assets of iSold it UK which recently went into administration. Auctioning4u, which says it is the UK's leading chain of eBay drop-off shops, has invited up to 30 of iSold It's existing franchisees, who are based all over the UK, to transfer their businesses to the Auctioning4u brand.
Unlike iSold It, Auctioning4u operates a centralised franchise model which involves the goods being processed by the company rather than by the individual franchisees. The company also offers a 'Territory Partner' scheme in which franchisees are given the opportunity to operate a multi-faceted business rather than just one shop. The partners need only 600 – 700 square feet and one employee and in some cases all they need is a van. According to the company, the clients’ unwanted items, which are collected by the partners, are then processed by Auctioning4u at its large centralised location. Specialists and a photography department help to make the process quicker and more efficient.
Auctioning4u has 12 drop-off locations: 4 company owned, 1 owned by a territory partner, and 7 'shop-in-shop' locations. If the 30 existing iSold It franchisees choose to join Auctioning4u, then this will be, the company says, a great step towards achieving its aim of providing a nationwide network.