Jay Sachetti joined Jeff O’Brien, partner at Husch Blackwell and Dyanne Ross-Hanson, president of Exit Planning Strategies talked about the market for mergers and acquisitions, exit planning opportunities for companies that don’t end up for sale and how companies can maximize their eventual sale price during an early October panel at the first Upsize on Tap event at Summit Brewing Co. in St. Paul.
When the state Legislature passed a law requiring employers to provide paid leave and safe time for employees, Justin Bieganek started hearing differing details from friends, colleagues and peers.
Roger Strauman admits he’s “got a goofy approach to things,” but he loves to sort and organize.
“I’m kind of a minimalist by nature,” he adds, saying he believes if you’re not going to use it and it’s not going to appreciate in value, get rid of it.
Add his son Ben’s Internet ability and daughter Kari’s marketing background. The three have formed Plan B Internet Auctions in Wayzata, a store for dropping off items that the company then sells on eBay.
Strauman read an article in the New York Times last December about Internet drop-off sites in California. “So my son and I went to California and met everybody doing this, then to Phoenix, then to New York City,” he says. He also met with all the pawn shop people in the Twin Cities.
“Every item everyone brings in, it’s interesting. We’ve looked at a Picasso, a six-carat diamond, and then all the regular stuff,” Strauman says.
The front of the store has a counter with a two-sided monitor, where people bring in items and Plan B staffers look them up to establish a value. Then the items go to the in-store photo studio. Finally, they work to get the best timing on eBay to maximize the price, and monitor the auction to answer any questions that come up.
The item’s owner gets 65 percent of the proceeds under $250, 75 percent between $20 and $2,000, and 80 percent over $2,000, with the other percentage going to Plan B. The seller pays the eBay fees.
Strauman was an executive with National Business Systems for years, retiring in 2000 but “failing at retirement” fairly quickly, he says. His business will generate about half a million in sales this year. He plans to open three more stores in the next year or so. He’s seeing competition from independent operators and franchised drop-off stores, but says that’s OK.
“I can’t have enough competition fast enough,” he says, because customers learn they’re better off letting someone else handle their eBay sales to reduce hassle.
Roger Strauman, Plan B Internet Auctions: 612.310.1031; ro***@***********ns.com; www.planbauctions.com
