Spotlight on 2wheelsport
A passion for cycling is what led Frank to online retail. "When I get into a hobby,” Frank says, “I go full-bore. I got my start on eBay back in 1998 by selling off bikes and spare parts from trade-ups. Some of my cycling buddies started asking me sell their stuff for them. Then I listed some things on behalf of the local bike shops. This was around the time when drop-off stores were getting popular, and that model sort of shaped my ideas about selling online."
Frank gradually built his inventory through closeouts and liquidations, transitioning to a consignment model in 2009. Around the same time, Frank read about Terapeak on a discussion board. He quickly discovered how product research could make the consignment process smoother and more profitable.
"Product research is essential,” Frank says. “You can look at what someone else is asking for, but unless you can associate a price with an actual sale, that figure isn't very useful in my opinion. I don't necessarily have to dive deep into the eBay analytics. I just want to get in and get out with the information I need. My process is quick and easy, and I use Terapeak over and over throughout the day."
Frank is a big believer in doing work with smarts and independence. "I'm a sole proprietor,” he says, “and I'm determined to stay that way. I work smarter rather than harder, and I leverage technology whenever possible to boost my efficiency. Everything in my business is designed around what I can accomplish myself. The ceiling I usually hit is how many hours are in a day, so any way I can utilize technology to get more done is a good thing. Terapeak worked out great in that respect because it enabled me to very quickly gauge the value of items. I can't imagine running a consignment business without Terapeak."
One of the biggest challenges in a consignment-based online selling business is the lack of inventory predictability. In a product niche like cycling, clients can walk through the door with virtually any bike, part, or accessory, at any time. Frank turns this apparent obstacle into an opportunity to better serve his customers.
Terapeak is such an asset for a small business owner because it assists with the decision making process. I can make an educated offer on new inventory and capitalize on opportunities without any guesswork. I appear well informed to anyone who brings an item in to be consigned—and that makes for a better experience for my customers.
Innovative small-business owners like Frank are one of the reasons we love serving the seller community. We're thrilled to be part of his continuing success.
Learn more about 2WheelSport and its consignment services for bikes and parts at www.2wheelsport.com