CHICAGO, March 9, 2020 /PRNewswire/ -- On Feb 4, 2020, The Food Service Exchange (www.FSXMarket.com) officially went live. The Food Service Exchange was created as an online Marketplace for Manufacturers and Dealers to sell their overstock, discontinued and scratch & dent inventory to restaurants and other operators.
According to Co-Founders, Keith Jaffee, Matt Jaffee and Michael Lyons, the idea for the site came from Keith's frustrations working in the Commercial Food Service Equipment and Supply Industry for over 30 years. "Back when I began my career in the industry, there were dealers who would be the outlet for overstock, discontinued and scratch & dent inventory. Today, due to the consolidation in the industry, the only options are auction houses or liquidators. We found ourselves selling our products for pennies on the dollar or on eBay, where there is just no control or buyer trust," says Keith Jaffee.
FSX plans to continue growing so that buyers and sellers can get back in touch with this niche market segment. "The feedback on both sides has been strong but we are continuously working to improve the experience on both ends," says Roger Filizetti, CEO of FSX.
According to Adrien Nussenbaum, Co-Founder and U.S. CEO of Mirakl, "The Food Service Exchange shows just how powerful the marketplace model can be: it's filling an urgent need in the market, creating a transparent, trustworthy channel for manufacturers, dealers, and buyers alike." This is reflected in the FSX teams' belief that it is critical to build relationships with the sellers on the site.
"We do our best to speak with all sellers in a high-touch way to assure they are manufacturers and dealers in the industry, rather than other, more open, marketplace concepts," says Co-founders Michael Lyons and Matt Jaffee.
With a commitment to creating favorable buying and selling experiences, the platform will provide significant value to the industry, a belief also shared by Nussenbaum who stated, "We're pleased to be a part of FSX's journey as they become the go-to platform for discounted food service equipment."
About Food Service Exchange
Food Service Exchange is an online marketplace for the commercial food service equipment and supply industry, focusing on overstock, discontinued and scratch & dent inventory. The site's domain is www.FSXMarket.com and has over 2,000 SKUs at an average discount of over 50% of today's market price.
SOURCE Food Service Exchange, LLC