QuikDrop president Murray Mead sold the rights to Fred H. Johnson III, a former senior vice president of investments at Gruntal & Co., and Kipling Smith, a former multi-unit operator of Subway Restaurants. Terms of the deal weren't disclosed by Mead in his prepared statement.
However, he says the expertise of Johnson and Smith "in franchising and financial services is invaluable to establishing QuikDrop in Florida." Mead says the QuikDrop stores "provide an easy way for anyone to list their items on eBay simply and conveniently."
The estimated average size of the leased stores will be 2,500 sf, area brokers familiar with comparable ventures tell GlobeSt.com. Mead says he plans to contract with entrepreneurs to open an additional 205 stores totaling an estimated 512,500 sf in the US and 75 stores totaling an estimated 187,500 sf overseas.
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