App/tech business of the week ~ Wholesale Exchange
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What? ~ Wholesale Exchange is an online marketplace for the WA wholesale vehicle industry.
The goal is to streamline the wholesale buying and selling process for all dealers within the network. Registration is free. Payment comes if a user successfully buys or sells a vehicle. Auctions are a 10 per cent flat fee, otherwise the fee is $50 per transaction.
Where? ~ www.wholesaleexchange.com.au
Who? ~ Founded by Dave Garner and Tom Longman; the site was developed by local digital agency Humaan
Quote ~ With nothing like this in the WA market, we’re really excited about the potential this has to improve the motor vehicle industry
Market ~ The site was developed exclusively for the wholesale car industry, which numbers 8,000 transactions in WA every year. Since launch, uptake has exceeded the company’s original goals.
The founders are planning additional features and these will be rolled out over the coming year.
The business has been self-funded to date, but the founders are open to having discussions with any potential investors.
The initial strategic focus is on the WA market with expansion to the rest of the Australia to follow.
Wholesale Exchange was launched on September 1 2016 and is ranked #2 on the BNiQ Startups List.