Vatorx2
Buybak.com
Location: P.O. Box 270455, Louisville, Colorado, United States United States
Founded in: 2007
Stage: Post-launch
Number of employees: 1-5
Short URL: vator.co/Buybakcom
Vatorx1

Buybak.com

SaaS platform for online sellers to purchase "no longer wanted" inventory directly from consumer households
Startup/business
Louisville, Colorado, United States United States
http://Buybak.com
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Company description

Executive Summary:

BuyBak offers retailers and online sellers websites with the ability to purchase online directly from consumers their no longer wanted consumer media (Books, CDs, DVDs, and Games) and Consumer Electronics inventory for online/offline resale.

 

Mission  

Buybak.com's mission is to become the Internet standard in online applications for retailers and online sellers to purchase (buyback) households, businesses and retailers' "no longer wanted" inventory immediately and efficiently without online person-to-person auctions or marketplaces listings.

 

Business
Buybak offers retailers and online sellers the ability to purchase "no longer wanted" inventory directly from consumers through online "buyback" websites provided by the Company. Buybak will provide its clients the ability to purchase over 2.5M unique SKU's of product directly from the largest inventory base in the world - consumers no longer wanted property. Buybak provides the capability to set buyback prices directly, via formula or through sales data acquired by large marketplace sites like Amazon.com to ensure desirable and predictable resale margins. Buybak also provides the ability to check-in acquired product in a locatable warehouse setting, such that either in-store or online the retailer is able to efficiently to sell, pick and ship committed product either online or offline.

The Company is self funded, has numerous clients, revenue generating and is breaking even on a cash flow basis.

 

THE BUSINESS OPPORTUNITY
Over $3,100 of unused items resides in each American household (not being sold on online) representing $310 Billion in American's household of available resellable inventory. (link... Average U.S. Household Has Over 50 Unused Items Worth $3100 According to eBay/Nielsen Survey; Business Wire, April 26, 2007

Less than 4% of active registered users have ever sold anything on eBay or Amazon (an "active registered user" is any one who has transacted in the last 12 months) and less than 1% of American households have ever sold anything on eBay or Amazon.com. Nearly all online sellers/retailers desire a new, reliable and profitable source of salable product.

 

Buybak Sites

Buybak contracts with existing online and offline retailers (MarketMakers) in the Consumer Entertainment (CDs, DVDs, Video Games and Books (soon), Consumer Electronics (soon), Jewelry (soon), Sporting Goods (soon), Gift Cards/Certificates (soon), Office/Computer (soon) and other markets with an online purchasing, reverse logistics and supply channel solution for highly desirable, wholesale, high margin pre-owned product sourced directly from the seller. Buybak MarketMakers are provided with online tools to select and/or add products to purchase back online, expert/historical pricing data to accurately price buyback inventory and business processes to manage orders sourced directly from sellers via the Internet. As sites like eBay and Amazon have grown to sell previously owned product - retailers/online sellers who arguably sold the new item to that particular person initially are left out of the online secondary sale, due to their inability to offer an online buyback programs of their own (like brick and mortar stores are able to do - sell new and used; and buyback in-store) or insert themselves in the online pre-owned sales process through eBay, Half.com, Amazon or others.

Buybak also provides to its clients the ability to create and manage affiliate programs (the only one to do so). Third party websites are now able to participate in an affiliate program that refers their customers to a program that provides monies to their customer's pockets rather than out of it, plus a commission for them. Since no company offers this type of program Buybak believes that this (and other marketing programs that the Company offers) will be a significant driver to its clients and the Company success.

Buybak solves the following problems and offers the following benefits:

  • Provide MarketMakers with their own ability to purchase "no longer wanted" inventory from U.S. Households and retailers at wholesale prices. Currently retailers are unable to purchase pre-owned product online without significant development expense or through today's auction or fixed priced marketplaces; or offline in sufficient quantities.
  • Provide sellers with the ability to sell immediately their no longer wanted inventory for cash or credit.

• Provide both sellers and MarketMakers centralized order and payment processing through a single site.

 

 

 


Team
  • Steve Bonneau
    Steve Bonneau | Team member
    Founder of Buybak.com/Sell It Now.com. Prior experience - founder of Uzed.com and other buyback sites - Over $8M in revenue in 4 years with less than $50K in startup funds. Founder of !nfaxamation a Fax Service Bureau providing Broadcast Fax, Fax-...
Business model

Buybak License and Transaction Fees
"Powered By Buybak" Buyback Site; Start up Costs - No cost, Monthly Hosting Fee - $125, Per Unit Fee - ~$0.72/unit successfully received (18% of the buyback price based on an average buyback price of $4.00, which equates to approximately 8% of the resale price of the item assuming a 55% gross margin).