Rich Couples

A New Playing Field: “Four and a half years ago, I was broke” and needed to make some money, says Lanny Morton, owner of Sportscloseouts.com. When his then-girlfriend, now wife, Deena, spotted some baseball bats on sale for $40 each, she encouraged Lanny to buy them to resell on eBay. Despite the fact that he had next to no experience with eBay, he  knew the bats were worth more than $40. So he borrowed $800, bought 20 bats and listed them for sale on eBay. They quickly sold for a total of $1,300.

Recognizing the business’s potential, Deena wanted in, so she invested $1,300 and they bought more sporting equipment. It sold for $2,600. Reinvesting that money, they earned $4,000, then $6,000 and up.

Today, the company typically runs 1,000 auctions a week, though during busy seasons, it increases to as many as 2,000 to 3,000. Everything from bats to water sports equipment to snowboards is available through Sportscloseouts.com, and items have an average selling price of $70.

The couple attributes much of their success to taking care of their customers. “We do whatever it takes to make it right,” says Lanny. In return, they earn loyalty from their customers–20 percent of whom are repeat buyers.

Lanny Morton, 38, and Deena Morton, 39
Sportscloseouts.com
Glendale, Arizona
eBay User ID: sportscloseouts
2006 Sales: $3.3 million
Projected 2007 Sales: $4 million
eBay Business: General sporting goods

source Entrepreneur