By Michele Owen—
MUNCIE, IN—For Moghees Sheikh, choosing Muncie as the first location of Buyer’s Market was mostly chance. “The opportunity opened up at the right time,” commented Sheikh about purchasing the former Macy’s building. Now, nearly 4 years later, the company is putting down more roots. “I uprooted my life to move to this community, and I’m not going anywhere. I keep telling my friends about Muncie,” the entrepreneur, formerly from Canada, explained.
Buyer’s Market operates with a simple model: Develop contracts with major retailers to resell overstock, providing steep discounts to customers and reducing unsold product waste. After the overwhelming success of the Muncie location, the chain has now expanded to 8 locations in Indiana and has recently leased the former Pepsi building on North Walnut in Muncie to provide more opportunities to expand.
The Pepsi building will serve as a sorting and storage facility, allowing for bulk deliveries from retailers to be priced and distributed efficiently. The new facility will create up to 60 new jobs.
“We wanted to maintain a good partnership with Buyer’s Market and keep those jobs here in Muncie,” commented Mayor Dan Ridenour. “Muncie is a great place to do business, and we love seeing new enterprises grow.”
Work has already begun to set up the new facility, which aims to be operational by the end of the year.
