We are a Cricket Wireless Retail Dealership expanding to 100 stores. We have 23 stores open or in process. When AT&T bought Cricket in 2014 it doubled their coverage area. Cricket has a 15-yr track record and 3.700 stores in the U.S.
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, lifetime residuals and great margins on accessories.
Milestones
We currently have 6 locations open and 17 more in process. Our first location in Pocatello, ID exceeded break even volume in its first full month and is operating 30% above projections. Company revenues have surpassed $400,000 in only a few months and we’ve activated over 2,000 new customers! We have over $3,500,000 in capital commitments from various investors and private equity firms.
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.
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 for $25k minimum investment. A few preferred units left
We currently have 3 locations open and 14 total in process.
We offer Cricket Wireless Retail Products and Services.
We sell Cricket Wireless Prepaid plans and mobile devices and accessories
Mr. Mitchell is the president and CEO of Progressive Wireless, LLC and is an experienced wireless veteran with over 16 years in the industry. He began in retail sales with ALLTEL Wireless and quickly moved up into management. He spent 3 years at Connected Wireless in Utah managing and growing many of their 7-13 retail locations. He then operated and grew E Systems Management from 3 to 35 locations becoming the largest Sprint dealer in Arizona. E Systems received awards for highest customer satisfaction, lowest churn and fastest growth. Denny also served three years on Sprint’s Dealer Advisory Council. The advisory council was comprised of the top 10 dealers in the nation and advised the President and other high level executives of Sprint on how to improve performance company wide. Mr. Mitchell is also a member of the U.S.A. Today small business panel. He received his B.A. degree from Brigham Young University and his MBA from University of Phoenix.
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 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 to enhance and improve Progressive Wireless’s business plan in order to prepare it for a national roll out. He has a Bachelor’s degree from Brigham Young University and an Advanced Paralegal Certificate from The University of Arizona.
I’m an individual investor from Connecticut. I’m interested in pre-revenue and post-revenue companies from all industry sectors.