March 2007 - Monrovia, CA - Many small investors lose their life savings, their homes, their families and spouses because of franchisors like iSold It, LLC. In Atlanta, GA, a couple uncovers a hidden world of corruption in the eBay drop-off store market, and in an effort to warn others of what appears to be “the perfect scam”, they launch a unique website of information.

Business partners, Karen McGinn and Gene Bowen, were the owners of one of the first eBay drop-off stores in the Atlanta area. In November 2005, they closed the store rather than continue to loose money. Suspecting the problem was not just them, the two hired an Atlanta attorney to help investigate the franchisor. Together, they found more than enough evidence to warrant litigation against iSold It, LLC, of Monrovia, CA, who advertises as the #1 franchisor of eBay drop-off stores and the #1 seller on eBay.

The Georgia coupled decided to investigate the drop-off store trend that was attracting so much media attention. What they found growing under the surface was ugly. iSold It and their competitors were in a race to sell franchises for a concept that was unproven and fatally flawed. Through apparent misrepresentation, iSold It claimed the #1 position by selling over 900 franchises. But less than 200 stores opened before troubled ones quietly started closing. Because of their inability to provide satisfactory software and accounting systems as promised, and through repeated FTC violations, iSold It, and similar franchisors, have multiple lawsuits pending.

Gene and Karen anticipated fellow franchisees might be going through some of the same problems they experienced. To help those already in business, and alert potential investors to the problems, they condensed the accumulated information and published it into a web site called www.amitheonlyone.org.

“We now appear to be the experts in the field and we hear from store owners all over the world about the problems they are having. Our web site is a lifesaver to many and we receive countless words of thanks and encouragement”, says Gene.

Since the site’s first appearance in the spring of 2006, Ms. McGinn has received calls and emails from franchisees, franchisors, reporters, and lawyers in various countries. She says, “Disenchanted drop-off store owners who read the information on our site are comforted by knowing they are not alone. Others, who visit the site, see different sides of the story from those claimed by franchisors’ ads and press releases.

“The effect that the eBay drop-off store concept and the franchisors have over people is incredible. The results are tragic. Unless more of the public is alerted, it will turn out to be the perfect scam.”

Here

There are a few of these in the KC area - one reasonably close to us. I drive by it often enuf to know they do NOT have folks with arms full standing outside in a line to drop off...

They are also not in a low-rent district in my 'hood' - not at all. Retail RE in my county is very high. I've often wondered 'how they're making it' - the short answer - they aren't.

I do feel for those who've invested in this. If you are on the outside looking in, and you research ebaY, honestly - only in the last 6-12-15 months have you found 'excessive negativity'. Prior to that, not too much to find to rethink your strategy.

Thanks 4 sharing BW!!