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Aug 30, 2016 2:20 EST

Progressive Wireless: A Cricket Wireless Dealer seeking capital for a 100 store expansion

iCrowdNewswire - Aug 30, 2016

Progressive Wireless

Progressive Wireless

13 Stores Open, $2,000,000+ Revenue, 6,200+ Customers, Proven Model – Mgt Team has over 40 yrs experience managing wireless stores

COMPANY OVERVIEW

Progressive Wireless is a Cricket Wireless Dealer seeking capital for a 100 store expansion. AT&T purchased Cricket in 2014 creating virgin territories for more stores. Benefit from the risk reduction of a franchise like model & fantastic projected passive income and equity appreciation. We have an outstanding management team and our current stores are doing amazingly well.

Overview
When AT&T acquired Cricket Wireless in 2014 it virtually doubled Cricket’s coverage area. This network expansion has created virgin territories where there is little competition for prepaid wireless services. Progressive Wireless was formed to open 100 Cricket Wireless stores as quickly as possible. Cricket’s dealer program provides excellent activation commissions, residuals, and great margins on accessories.

Franchise Like Risk Reduction
There is a reason that 90-95% of franchises succeed. They are based on a long track record of success. There are currently over 3,700 Cricket stores in the U.S. and the parent company was started 15 years ago. As a Cricket dealer, we benefit from many franchise characteristics such as training programs, strong brand and corporate marketing assistance, increased purchasing power, operational support, location and construction assistance etc. Best of all Cricket does not charge a franchise fee.

Management Team
The Company’s President was recruited by Cricket Wireless after recently selling his exceptionally run 34-store Sprint dealership. He has an MBA and over 16 years of experience in the wireless industry. Between the officers and board members, the team has over 40 years combined experience in the wireless industry and over a century of business management experience.

Market
The prepaid wireless market segment is large and growing. In the first quarter of 2013 new wireless customers chose prepaid plans 10 to 1 over contract plans. As of 2012 there were 100 million prepaid subscriptions in the U.S. Smartphone sales on prepaid networks doubled from 2012 to 2013 with nearly one third of all smart phones currently on prepaid plans.

Conclusion & Projected Returns
Projections show a 47% average annual cash return over 5 yrs with nearly a 500% ROI assuming a sale or IPO in the fifth year. We are selling 20% of the company through a 506(C) PPM offering. $25k minimum investment. 15 founders units available.

KPIS

6200USERS
40EMPLOYEES
$2,000,000SALES

COMPANY SLIDESHARE

 

 

23 LOCATIONS OPEN OR IN PROCESS

 

 

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TRACTION

WE’VE SURPASSED $2,000,000 IN COMPANY REVENUE!! Since we opened our first store in Sept. 2015 we’ve achieved over $2 million in revenue.

AUGUST, 2016

 
 

OUR 13TH STORE OPENED IN TUKWILA, WA! We are excited to announce another great store opening in Tukwila, WA!

JULY, 2016

 
 

OUR 12TH STORE OPENED IN SPANAWAY, WA! Spanaway is a growing community south of Tacoma, WA. This is an ideal market with a great location.

JUNE, 2016

 
 

OUR 11TH STORE OPENED IN OLYMPIA, WA! We opened our 11th store in Olympia, WA this week. This is a great store in a virgin Cricket market.

JUNE, 2016

 
 
 

OUR 10TH STORE OPENED THIS WEEK! Our 10th store opened in Helena, MT this week at an ideal location. This should be a great market for us.

MAY, 2016

 
 

OUR 9TH STORE OPENED IN REXBURG, ID! Rexburg, ID is one of the fastest growing cities in Idaho growing 65% in the last decade.

APRIL, 2016

 
 

OUR 8TH STORE IS NOW OPEN! Our store in Butte, Montana is now open for business. Butte is the 5th largest city in Montana.

APRIL, 2016

 
 

OUR 7TH STORE OPENED IN MISSOULA, MT! Missoula is the 2nd largest city in Montana and serves a huge trade area. We love our location.

MARCH, 2016

 
 

OUR 6TH STORE JUST OPENED IN MERIDIAN, ID! We just opened our Meridian, ID store which is in a fantastic location with great demographics.

MARCH, 2016

 
 

OUR 5TH STORE IS NOW OPEN! Our 2nd location in Billings is on 24th St. The Billings market is ideal with virtually no prepaid competition.

MARCH, 2016

 
 

OUR 4TH STORE OPENED IN IDAHO FALLS, ID! Our fantastic permanent location opened so we transferred our staff from our temporary mall kiosk.

MARCH, 2016

 
 

OUR 3RD STORE IS NOW OPEN! It’s a fantastic location on Main St. in Billings with great visibility. Billings is the largest city in MT.

MARCH, 2016

 
 

STORE 2 IS NOW OPEN! The Bozeman, MT store opened for business at the end of November!

NOVEMBER, 2015

 
 

STORE 1 IS NOW OPEN : We recently opened our first location in Pocatello, ID in a great retail space with excellent visibility.

SEPTEMBER, 2016

 
 

TESTIMONIALS

I have been in wireless retail for over 16 years and have never seen an opportunity like this. Growth in wireless retail is difficult to achieve these days without expensive acquisitions, so this is a unique opportunity. With AT&T’s network backing us, this creates virgin territories for prepaid wireless and an amazing customer experience for a very low price. AT&T has doubled Cricket’s national advertising spend and aren’t slowing down. I am confident we will be very successful in this venture.
 
Denny MitchellPresident
 
Denny Mitchell
 
 
 
 
 
 
In my 30 years of managing various companies, this opportunity is as close to a sure thing as I’ve come across. It provides a high cash return and capital gains opportunities. The industry is huge, the executive team is highly experienced and the market segment we’re targeting is the fastest growing.
Steve MillerBoard Member
Steve Miller
 
 
 
 
Our President and VP have over 40 years experience running wireless stores. They are men of tremendous accomplishment, skill and integrity. I’m grateful to be a part of this business. Our executive team has committed to funding up to 10 stores on our own, but we wanted to take advantage of this rare opportunity by raising capital to open 100 stores as quickly as possible.
David WhiteBoard Member
David White

LEADERSHIP

Denny Mitchell

Denny Mitchell

President

 
Has over 16 years experience owning and managing wireless stores. Member of Sprint Dealer Advisory Council comprised of top 10 dealers in the nation. MBA

Unverified

Steve Miller

Steve Miller

Progressive Wireless, LLC – Board Member

 
For more than 30 years, Mr. Miller has operated as a Chairman, a President and a CEO. He has successfully run startup companies to large midcap companies which were at times privately held and other times publicly owned. Steve has global operating experience. He has sourced and sold products in every major world marketplace. Steve has successfully managed all forms of capitalization including: bank debt, capital leases, mezzanine financing and equity financing. He has extensive experience in mergers and acquisitions. Steve has won numerous business awards throughout his career, including being a finalist for the Ernst & Young Entrepreneur of the Year Award for three years. He has a degree in accounting and economics from the University of Missouri.
David White

David White

Board Member

 
David White has over ten years of experience developing businesses from concept to fruition. He has formed and owned several companies, written business plans, assisted in capitalization, produced sales videos, and developed websites. In the past he has also helped acquire bank financing for large commercial real estate projects and then managed their construction. His varied background and capabilities have been instrumental in helping companies to enhance and improve business plans in order to prepare it for raising capital and business expansions. He has a Bachelor’s degree from Brigham Young University and an Advanced Paralegal Certificate from The University of Arizona.

Unverified

Dale Murray

Dale Murray

Board Member

 
Has spent his career in sales, marketing and entrepreneurial enterprises. Has been instrumental in raising millions of dollars for start-up companies.

Unverified

Contact Information:

Denny Mitchell

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