{"id":44381,"date":"2014-10-20T09:05:55","date_gmt":"2014-10-20T08:05:55","guid":{"rendered":"http:\/\/startups.co.uk\/startups-awards\/?p=44381"},"modified":"2021-05-18T16:36:07","modified_gmt":"2021-05-18T15:36:07","slug":"peoples-champion-finalist-the-ioutlet","status":"publish","type":"post","link":"https:\/\/startups.co.uk\/startups-awards\/peoples-champion-finalist-the-ioutlet\/","title":{"rendered":"People’s Champion Finalist: The iOutlet"},"content":{"rendered":"
 <\/a>
\n<\/a> <\/div>\n

Start-up name:<\/strong> The iOutlet
Founders:<\/strong> Liam James, 27, and Matthew Green, 26
Started in:<\/strong> 2012
Based in:<\/strong> Plymouth
Business description:<\/strong> Phone repairs outlet<\/p>\n

\"the<\/a>The The iOutlet story:<\/h4>\n

It took just three weeks for The iOutlet to become profitable and there’s been no backward glances since.<\/p>\n

Having spent six years in analyst and business development roles including time spent at IBM, Liam James teamed up with Matthew Green. The pair spotted the chance to win a slice of the booming Apple market by specialising in iPhone repairs.<\/p>\n

The iOutlet, which was named as a Startups 100 and Young Guns company earlier this year, started by buying old or damaged smartphones in bulk, repairing and refurbishing, then selling them on eBay.<\/p>\n

With such a low cost base and a steady stream of revenue from the sale of high value devices the pair quickly had the wherewithal to expand into bricks-and-mortar in Plymouth, taking an outlet above street level to keep costs down.<\/p>\n

The business has quickly grown organically into a multi-million pound business and recently opened a second kiosk in an affluent part of Plymouth.<\/p>\n

Its year two turnover of £2.4m was a 400% increase of year one. And the company now boasts more than 16,000 clients in over 40 countries across six continents.<\/p>\n

And though the business has expanded rapidly, excellent customer service has remained key, with James stating: “We don’t have any negative reviews with both accounts we sell from having 100% positive feedback, something which proves our hard work before and after the sale is working and also something we are immensely proud of.”<\/p>\n

The young entrepreneurs’ business is set to continue its upward progression, with forecasts of increased eBay sales next year and a significant announcement to come.<\/p>\n

Why The iOutlet made our 50:<\/h4>\n

The iOutlet is precisely what you want to see in a great start-up. Low fixed costs, a clear strategy, multi-million pound turnover, profitability and international sales from the start, and still 100% owned by the its young founders. Keep an eye on it.<\/p>\n

Where to find out more about The iOutlet:<\/h4>\n

Website: http:\/\/theioutlet.com\/<\/a>
Twitter: https:\/\/twitter.com\/the_ioutlet<\/a>
Facebook: https:\/\/www.facebook.com\/TheIOutlet<\/a><\/p>\n

<\/a><\/p>\n\n","protected":false},"excerpt":{"rendered":"

    Start-up name: The iOutletFounders: Liam James, 27, and Matthew Green, 26Started in: 2012Based in: PlymouthBusiness description: Phone repairs outlet The The iOutlet story: It took just three weeks for The iOutlet to become profitable and there’s been no backward glances since. 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