business

Tennessee oncologist's consignment sales are media sensations

The twice-yearly events that started in a backyard now attract thousands of sellers and buyers in several cities.

By Victoria Stagg Elliott — Posted Oct. 17, 2011

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Making sidelines pay

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Doctors who branched out beyond running their practice tell why they did it, how they did it, and what you should know before you do it.
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Name: Daniel Ibach, MD

Specialty: Oncology

Location: Knoxville, Tenn.

Company: Duck-Duck-Goose organizes twice-yearly children's consignment sales in Knoxville. The name is licensed to people who organize events elsewhere in Tennessee, as well as Georgia, Kentucky, North Carolina and Texas (link).

Annual revenue: Numbers were not disclosed.

Why he started the business: Nearly a decade ago, Dr. Ibach's wife, Courtney, visited a large children's consignment sale and thought they could do better.

"We didn't want people's things thrown on tables or on the floor," Dr. Ibach said. "We wanted to make our facility really look like a store with specific signage and departments. We wanted it to be easy to see the size, or whether something was for a boy or girl."

In 2004, Dr. Ibach and his wife, along with another couple, decided to organize their own children's consignment sale. They put up tents in the other couple's backyard to sell their own items as well as those of 36 other families. Subsequent events grew rapidly, with the most recent sale taking place in a former Kmart and attracting 20,000 shoppers and 2,200 consigners.

"It's just chaos," Dr. Ibach said. "When we open the doors for the public, the news stations are always there. It's like the running of the bulls of Pamplona."

People who have items to sell can register and print bar-coded tags from the company's website and drop the items off at an appointed time. Duck-Duck-Goose keeps 30% of the sale price, with the remainder going to the sellers.

Duck-Duck-Goose also rents space to local restaurants, which set up a food court, and small businesses, which market to people who come to the sale. Charities raise money by providing volunteers who will stand in line for shoppers in exchange for a $10 donation. Unsold items that the owner does not want back are donated to charity.

The company has one paid staff person who markets the sales. Hundreds of volunteers help run the events in exchange for the privileges of shopping early and moving to the front of the checkout line.

Why he still practices: "I love medical oncology. There's no better practice of medicine and no better patients. I will do this until I retire."

Words of wisdom: "Study whatever is in front of you. Know your material, and then do your best."

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