Growing iPod Repair Biz Founded By Students

Submitted by Dmitri Davydov on Fri, 2008-02-29 10:26.
Posted in:

The iRepair Squad began as the iPod Repair Squad, and it was the winner of the initial Project Springboard business plan competition co-sponsored by Junction Ventures Ltd. and Bradley University. With that win came financial and technical assistance to get the company started. Nobody, Scaggs said, expected this kind of growth.

That growth for iRepair Squad has been nothing short of phenomenal in its first year and as it moves toward millions of dollars in annual sales and 100-plus employees, it will relocate to larger quarters in East Peoria that can accommodate the expected growth.

James Scaggs, founder of the company, said he eschewed offers from other, larger cities and elected to stay here “because the people here believe in us and what we’re doing.”

The company, with more than $1 million in sales already in less than a full year in business, expects to reach $17 million in sales over the next year and grow employment to about 100 people. The company, which at the start repaired iPods, now will repair other small electronics and will sell restored equipment, as well, through its Web site.

The company, Scaggs said, is securing contracts with national electronics retailers and manufacturers to do their repair work, which will fuel the growth.

[Via - Dane Carlson]

More Business Ideas:

The Well-Fed Self-Publisher: How to Turn One Book into a Full-Time Living

Virtual Assistant, The Series: Become a Highly Successful, Sought After VA

Pajama Sales Pitch

Joe Sugarman's Triggers - The Snowmobile That Bit Me

America's richest grease monkey