REILLY SR LLC tba bodymics.com
Reintroducing an iconic British Professional Audio Brand to the USA.
A new chapter in our history … the reintroduction of the Studiomaster brand of Professional Audio products to the US market. We will achieve this by establishing a new divison – Audio-USA Pro Audio – to distribute the Studiomaster brand plus a couple of other lines to music stores, pro-audio stores, rental houses and installation contractors.
A Little Background
Bodymics.com started just over 2 years ago as a part-time business with the goal of growing into a full-time venture. For about 15 years we have been renting – as a hobby – wireless microphone systems and other sound equipment to schools, churches, dance schools and community groups for concerts, theatre and recitals.
In order to grow this business we started looking for alternative sources for microphones in order to lower our capital costs. During this search – over about 8-9 months, it occurred to us that if we needed a source of good quality microphones to suit our wireless microphone systems, there were an awful lot of other potential users in the same position as ours.
This changed the search a little, such that we were now looking for a manufacturer who could make microphones to our specification to suit all major brands of wireless microphone systems.
This search culminated in finding a Chinese manufacturer who could produce the exact products we wanted, and was prepared to work with us on reasonable order sizes.
We launched bodymics.com in January 2014, and listed our products on Ebay and Amazon. We sold our first microphone within hours of posting it on Ebay. In our first year we sold over 1,000 microphones – 2 models, 2 colors, 7 brand compatibility variants. For 2015 we added another 4 models each in 2 colors and 7 brand variants and sold in excess of 2,500 microphones with about a 50% increase in gross profit dollars per microphone.
Our average cost per unit (as of today) is about $9.50, and our average selling price is around $50.00 for a margin per microphone after shipping, ebay/amazon fees and credit card transaction fees of a little over $30.00 per unit – we get to keep 2/3rds of the cash from our sales.
Shortly after we started, we started adding other products – both custom manufactured, self manufactured and from US distributors – products that were used by our target market. We currently sell wireless systems, accessories used for sound systems, microphone accessories including microphone lavalier clips, foam windscreens, transmitter pack belts (our design and custom manufactured in China), antenna systems for combining multiple wireless receivers to antennas, plus many other sound system components.
For the last year we have been seeking other product opportunities to improve our range. This research has turned up three (3) companies we would like to represent here in the US.
- Wireless Microphone Systems (China) – full featured with similar specifications and performance to products currently selling for over $400 per channel. Our average landed cost per channel is under $60 per channel. These will be marketed under our Creative Audio brand.
- Mixing Consoles (China) – we found a manufacturer who has a couple of audio mixers that are well priced with terrific features that fit nicely into the overall market – our margin will not be as great as our microphones or systems, but they fit underserved niches. The plan is to market these under the Creative Audio brand if we can meet minimum OEM quantities.
- Famous British Professional Audio brand that has been around since 1976, and have a great range of products from microphones to mixers (including to a great digital model) to amplifiers to speakers (from entry level to state of the art concert systems). This brand has been absent from the US for over 15 years, and has recently been upgraded with input from their new owners who have manufacturing facilities throughout Asia. New products include digital mixing consoles with flying faders and compact vertical line array speaker systems that rival those produced by Bose corporation at half the cost.
A look at our cashflow and profit forecasts show that with the right funding, good marketing and the right staff motivated by great compensation plans will result in sales upwards of $10 million within 5 years with net profit margins approaching 20%.
We are looking for $250,000 to $500,000 of loans (or equity) to make our vision a reality.
Relaunched bodymics.rentals as a cost effective national wireless microphone rentals
Placed initial order for bodymics earset microphones to suit 3 major brands of wireless system
Mounted earset microphone listings on ebay
First Sale via eBay
Drew first paycheck and have every week since
Sold 2500 microphones year to date
On target for 4,000 microphones for the year