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CalCruising Continues To Increase Online Sales

29 November 2000

CalCruising Continues To Increase Online Sales

    RANCHO SANTA FE, Calif.---Nov. 29, 2000--Classic Cars on the Internet may be just what the doctor ordered.
    With a continued increase in sales and profit www.calcruising.com has firmly established itself as a major presence in the Online Community. With a strategic Southern California location, CalCruising has been able to locate quality classic cars and sell them Online for a substantial profit.
    Tens of thousands of enthusiasts have cruised into their Web site to view the classics on auction. In just over 14 months CalCruising has successfully sold almost every car it has auctioned. With sales of over 1.2 million and profit margins of 25%, CalCruising is proving the Internet can be very profitable.
    The only problem according to CEO and founder Michael Schriner is "we set up a successful business model to auction classic cars but we did not anticipate how quickly it would grow." As their site continues to grow at a very fast pace, CalCruising visitors expect to see more and more classic cars on auction. "We don't want to disappoint our members but we are only setup to handle 10 to 15 cars at time. We have hit a critical point in our growth, our site could easily handle hundreds of vehicles at a time but we do not have the resources or manpower for that kind of growth."
    CalCruising was initially conceived by Schriner to be an online alternative for shopping locally for classic vehicles. "I wanted to prove that our unique business model would work online. With an established name on the Internet and a very loyal following our company could easily grow to 10 to 20 million in sales annually."
    As a result of their rapid growth, CalCruising has decided to seek offers for sale of their venture to a well-capitalized group or corporation who can expand on their success. "We have established a dominant Internet following of car hobbyist who relies on CalCruising as their online source for Classics. I don't think that at this stage of the Internet that our success could be duplicated. It would be like trying to reinvent Ebay, you could build it but nobody would come, just ask Amazon."