Through Frame and Wheel Services, Frame and Wheel provides eBay selling services for individual cyclists and independent bicycle stores in the Greater Portland, Maine area. The company handles all aspects of the listing for the client. This includes: cleaning the item and making minor repairs, creating images of the items, originating additional research about the item, originating the description of the item, uploading the information to eBay, monitoring the listing and providing updates to the client, fielding questions from potential buyers, packing the item and bringing the item to the shipping service. In exchange for its financing and execution services, the company charges a fee of 25% of the final value price of the listing.
Frame and Wheel embarked on this business to learn more about bicycles and their value, to see who sells what on eBay, to develop more experience selling on line and to observe how the market buys bicycles and cycling equipment. Frame and Wheel has completed five transactions since September, which demonstrates that there is demand for the service. The primary challenge for this business is obtaining items to sell: so far new business is word of mouth. Frame and Wheel is testing the idea of making "buyer of last resort" offers to people who are selling items on Craig's List. Frame and Wheel has learned that people selling items on Craig's List have very high and many times unrealistic ideas about what their items are worth. Consequently, they are not initially receptive, but their expectations are likely to adjust over time.
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