At LED Source®, we do not “sell LED’s” – we provide state of the art lighting upgrades using only LED lighting and sophisticated, revolutionary controls. We have single handedly disrupted an industry while killing numerous sacred cows along the way. In 2005, when we began this journey called LED Source®, the industry was comprised of traditional or legacy lighting providers. In the early days, LED products were also being sold by electricians or “pipe and wire” people who had no idea how this new technology worked and what benefits if could provide.
Our team since the very beginning was made up of LED Experts who not only knew the market, but saw the potential for massive growth and opportunity. Since then, LED Source® has grown to establish a Franchise System with more than a dozen locations (and growing!) and a National Accounts division that provides “exclusive” lighting solutions to thousands of individual National Account locations.
Using these two primary growth opportunities, and a proprietary in-house product brand, Effinion, LED Source® is expecting to grow to $50,000,000 in revenue within 3-4 years and build the business to massive value within 5 years.
LED lighting has evolved very quickly since it’s recent birth in 1997. In fact, for the first 8-10 years, only color-changing Architectural products existed. It was only recently that scientists managed to produce “useable” white light in the ranges that are pleasing for use in general lighting situations such as residential and commercial lighting.
The most significant breakthroughs were the invention of the Blue LED in the early 90’s by a group of Japanese scientists and more recently, the use of Phosphor in order to create white light.
LED Lighting brings huge benefits both to the environment, to the user (through more controlability, lower maintenance, etc) and to the bottom line as well. Because LED lighting is as much as 10X more efficient than traditional light sources, the technology also saves money. In fact, savings in most applications are significant and will allow the lighting upgrate to “payback” in less than a year, and provide ROI for 10, 15 even 20 years! So as a result, LED Source® has managed to create a proprietary, in-house Finance model branded LouMan Money®. Through this financing model, a buyer is able to finance an entire project with no money whatsoever out of pocket, and have the payments made from savings. In most cases, the buyer will also benefit from cashflow above and beyond the finance payments. So literally, your lighting is raining down profits!
LED Source® has the experience and staff to support these upgrades, no matter what the size. Our in-house design team will work with a client, their architect or designers and insure that the lighting result is at least as good, but usually far better than what they had. Our project managers will walk with the client and their team every step of the way, through completion.
LED Source® has an added weapon in our Franchise system. To date, the company has sold 20 franchise locations and has turned down many more. Without any marketing nor a dedicated franchise sales person – the company continues to get an average of 10-30 franchise prospects each and every week. Post funding, the company will not only begin marketing for new franchise prospects, but will add a VP of Franchise Development who will build a team to sell and grow our franchise system to more than 150 locations.
Traction & Accomplishments
LED Source® spent 3 years developing and honing a National Accounts business. As a result, we now have a rapidly growing program with 10 current brands being serviced. By year end, we will add at least 6 more brands with several thousand locations being serviced. National Accounts is expected to grow to more than 50 brands with hundreds of locations sold each month.
National Accounts is already a very good model that matches our business perfectly and supports the growth of our franchise system as well. In fact, the idea that we have franchise offices throughout North America helps us to sell more National Accounts and our National Account division and the exciting sales opportunities generated there will help us to sell more franchises. It’s a peanut butter and chocolate sorta scenario!
This month, our founder was interviewed by Entrepreneur Magazine for an article being published in October. In the article, the magazine branded LED Source® a “Category Creator” for our work in growing a franchise system first. also for our efforts to establish a National Accounts model that didn’t exist prior to LED Source®. The company has been a pioneer since it’s first days and continues to open new markets and opportunities today.
How We’re Different
LED Source® was the first to establish a Franchise model in LED Lighting. You have to think about that…what other business can you think of where you’d be the first to franchise it? There are literally thousands of burger and sandwich brands, maid or handyman companies, printing companies etc. We were the very first to franchise an LED lighting solution and we remain the only one to have done it successfully!
LED Source® was the 1st national provider of LED lighting solutions. Certainly, we’ve had competitors along the way, but none who boast an organized system with proprietary branding and processes that we have created.
LED Source® stands alone in the National Accounts space. Certainly, there are other companies who’ve sold or continue to sell lighting to National Accounts, but none who has the complete suite of services that we offer. We are able to take a brand from concept all the way to installation and offer lighting and controls that a buyer would have great difficulty trying to piece together on their own. The bottom line on National Accounts is that we’re able to save a company and their subsidiaries or franchisees a lot of money and time on their lighting as we guide them through additional savings on electric as well.
LED Source® has spent the last 4 consecutive years on the Inc 500/5000 list of fastest growing companies. And we’re expecting to crush those growth numbers in the next few years!