iSOLD IT: CEO Ken Sully Killed in Crash

Controversial franchisor and CEO of eBay drop-off franchise iSold It Ken Sully was reportedly killed last night in a motorcycle accident.  Sully was 58.

A friend who was riding with Ken Sully at the time posted an account of the accident on a Ducati rider’s forum:

It is with extreme regret that I break the news that one of our newest members, and a new friend of mine, Ken S. (aka FastlaneKen) was involved within a fatal accident last night.
Last night, following me, Ken was riding his barely 2+ week old 1198. I passed through an intersection, and noticed he wasn’t there. What happened, a women, barely legal to drive, made an illegal left u-turn in front of Ken and essentially hit Ken head on with her car. Police reports is blaming her 100%. He was pronounced dead at the scene, and probably didn’t feel a thing.
He was loved by people of all walks of life, and had finally saved up to buy his dream bike, the Ducati….
Ken leaves behind a beautiful wife of many, many years, and a young daughter of only 17. He was 58 years old.

The San Diego Union-Tribune reported Sully’s fatal accident here.

A well-known figure in franchising, Ken Sully was CEO and of the much-hyped iSold It franchise company. isold-it-logo.gif Entrepreneur magazine named eBay drop-off store franchise iSold It their “Top New Franchise for 2007,” a “Hotter Than Hot” concept and one of the “Hot Franchising Trends for 2007.” and reported that some ex-franchise owners claimed iSold It was a scam, and that Sully was peddling a flawed and failing concept that cost them their life savings.

The post Is iSoldit a Great Franchise Opportunity? generated more than 300 comments, many from franchisees upset with Sully and iSold it. published an internal letter sent by Ken Sully to iSold It franchise owners (An Open Letter to iSold It Franchisees from CEO Ken Sully) that revealed that despite the media hype and aggressive franchise sales efforts, the iSold It franchise chain was in a dire situation, that over 60 franchise stores have closed and many more were struggling for their survival. Shortly thereafter the company suspended franchise sales and was stripped of its “Top New Franchise” ranking by Entrepreneur magazine.

Ken Sully joined the iSOLD It in July 2004 from Postal Connections of America. Prior to that, he was Vice President Worldwide Franchise Development of Mail Boxes, Etc., another controversial franchise chain.