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, 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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