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Quixtar Reports Day, Month Records
According to Ken McDonald, managing director, the firm’s independent business owners took Quixtar to sales of $11 million on March 31, surpassing its previous single-day sales record of $10 million a year earlier.
He said that sales pace contributed to Quixtar’s first $100 million month ever.
“We’re excited that IBOs continue to work hard to achieve the goals they set for themselves this year,” McDonald said.
“Their efforts in the first half of our fiscal year and carrying through March are keeping us on track to outperform last year overall,” he added. “A strong March like this really helps set the pace for the rest of our fiscal year.”
Quixtar said independent owners generated revenues of $1.035 billion for the company in the fiscal year ended Aug. 31, 2003, plus an additional $58.3 million for Quixtar’s online partner stores. Among those partner stores are KBtoys.com and OfficeMax.com.
Last year McDonald noted that IBOs earned $343 million in bonuses and other incentives for their efforts.
“This is an exciting time for Quixtar,” said Randy Bancino, vice president of sales, marketing and customer support.
“We’re seeing growth in the number of people starting their own businesses powered by Quixtar, and we’re seeing solid growth in our health and beauty categories.”
Bancino said that sports nutrition sales have generated tremendous excitement for independent owners and their clientele.
That’s also true, he added, of a range of new products like skin care products for men. “These products and others are really helping to drive sales growth,” he said.
The launch of Quixtar Inc. in 1999 entailed creation of a new business model. It involved independent sales people using the Internet, a full-service infrastructure, and an established independent business ownership plan.
The firm reports that in its first four years, that business model generated $3.1 billion in sales plus more than $250 million for partner stores, generating $998 million in bonuses and incentives.
In addition to the United States and Canada, Quixtar supports independent businesses in Puerto Rico, and various trust territories and independent island nations in the Pacific, Atlantic and Caribbean.
Quixtar Canada Corp. headquarters are in London, Ontario.