iSold It, the nation's leading drop-off chain and number one seller on eBay, announced today they have opened their 100th store and now have over 500 franchise stores under contract nationwide. In addition, the company announced the launch of their new Store Activity Management software that will drive store efficiency and further reduce store labor costs.

"With 100 stores open in our first 18 months and hundreds more in development, we're rapidly building our national presence," says Ken Sully, CEO of iSold It and former Executive Vice-president of Mail Boxes Etc. "This helps us to build important barriers to entry in the category and is similar to the development strategy I led at Mail Boxes Etc., where we grew from 900 to 3,000 stores in the early 1990s." iSold It plans to have 200 stores operating in 32 states by the end of this year.

In addition, iSold It announced that it has released its new proprietary Store Activity Management (SAM) software to the franchise network. "Developed over the past year at a cost approaching $1 million, SAM simplifies store operations, reduces labor costs, and provides franchisees with useful management reports and tools," says Jason Kim, CTO at iSold It. "In the process of managing an item's e-commerce lifecycle, SAM automates customer communications, provides extensive reporting and marketing tools at the headquarters and store level, while interfacing through API and XML with all major third-party vendors, such as e-commerce checkout, shipping calculation/postage printing, and seller check processing."

"Our goal is to drive the total time it takes to process each item in our stores down to only a few minutes, and this software moves us much closer to that goal," continued Sully. "This is one component of a company-wide initiative to push the operating costs of these stores lower and lower, while we simultaneously create national and local marketing programs to drive store revenue higher and higher."

How iSold It Works

Customers simply stop by the store to drop off items they want to sell, and iSold It takes care of the rest. The company professionally photographs each item, writes descriptive copy, posts the item on eBay, holds the item in inventory, processes payment from the winning bidder, and packs and ships the merchandise. After the item sells, iSold It sends the customer a check.

Customers pay nothing up front to list the merchandise with iSold It. Rather, the company charges a progressive commission based on an item's final sale price. If an item doesn't sell, the customer can choose to pick it up or donate it to charity. For more information or to view our current auctions, visit our website www.i-soldit.com.