There was no site to sell the products and equipment that engaged the electrical industry buyers and could provide a reasonable ROI. It was decided to build a platform specifically for electrical products. During the research to figure out where to start it was noted that others he discussed the project with all had surplus. The decision was made to go with Magento for ease of customization and because they had a great multivendor marketplace extension. It was also relatively easy to integrate an automatic payment system and he reached out and partnered with a home-grown Alberta business to build an API and link the best in market online shipping platform in Canada.
During the domain selection process, it was discovered surplus domains were available for many industries. Before construction of electrical even got going Brad purchased dozens of domains and the Surpluscentral.ca family concept was born.
Brad launched surpluselectrical.ca approximately 6 months later and began marketing. He started doing road trips on Thursdays and Fridays to neighboring cities in Alberta and Saskatchewan to promote the platform. The opportunities to buy surplus inexpensively were abundant and the next thing Brad knew he needed a new warehouse, the business grew very quickly! The product database grew, and other vendors signed on and started selling as well. The need arose for utilizing the platform for counter, phone and email sales so Point of Sale was added. Then the requirements for quoting arose and the platform continued to grow.
Inventory control was added to keep track of the inventory better and have real time data for the value of inventory. Also, to track what was paid for items and of course track the sales as well. The platform development never stopped and was fueled by growth and profits. The features added list grew every month. Surpluselectrical.com was added to the same site and provisions were added for USD.
Brad decided he had perfected the business model and a robust platform with excellent steady sales, so he reached out to sell the surpluselectrical.ca and .com platform and warehouse operations. It was sold shortly thereafter and now Brad is focusing on the Surpluscentral.ca family with an upgraded modern look for the platforms. He is prebuilding sites to sell this summer when he returns from his working vacation on the Baja in Mexico.
This is a very unique business model, and it will indeed be successful as all the owners continue to collaborate, grow the brand, market and feed off each other’s successes. Every new business owner will bring more ideas to the family, the monthly meetings will spawn another new generation of the platform and sales will explode. Like Brad always says, there is only one way to succeed, dedication and hard work!
Don’t delay and contact Brad directly today to discuss your new platform and future![email protected]