Record store owners reinvent business online

06/24/2009 | Inc. magazine

In 2008, after closing the last of his seven independent record stores, Kent Wagner was desperate for a reinvention. A side business -- trading used CDs for iPods via the Internet -- was thriving, so Wagner focused his efforts there. By reselling used products at prices just below those of giants such as Amazon.com, Wagner's new company, AbundaTrade, is on track to hit $3 million in sales, about 50% more than he made at his most popular store in its heyday.

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