LED Source to IPO in 2016-17
As Part of the Corporate Expansion LED Source® Has Declared Its Intention to Become a Publicly Traded Company
WELLINGTON, Fla. - May 18, 2015 // GLOBE NEWSWIRE // - Founded in 2005, LED Source® was North America's first franchisor of LED lighting. Along with supporting a growing franchise system, the company supplies top quality LED lighting products to a variety of markets and specializes in design, support, development, project management and financing through its Retrofit, Architectural, Entertainment and National Accounts divisions.
In 2012, LED Source® launched LouMan Money®, a private-labeled finance program that affords companies an LED lighting upgrade utilizing only the savings, and without tying up capital or using existing lines of credit. In 2013, the company began to develop products for its rapidly growing eFFINION® LED range.
The U.S. LED lighting market is expected to reach an estimated $5.2 billion in 2015.
The general lighting segment that includes demand from residential, offices, hospitality and commercial spaces accounts for the largest share in the country's LED lighting market. Other major end user segments of the LED lighting market include automotive and backlighting. Recovering construction industry in the U.S. and growing demand for LED in general lighting and in automobile sector is expected to boost the demand for LED lighting products in the country over the next five years.
In 2013, LED Source® launched the eFFINION® LED lighting brand designed to facilitate the company's need for a high quality, value driven line of products for its customers and franchisees. eFFINION® has grown to offer a variety of lamps and fixtures that uniquely fill the need for a perfect mix between quality and price.
The eFFINION® brand can be seen in national installations for major brands including Massage Envy as well as fixtures such as a sports and racetrack lighting and Slimline LED T5. The eFFINION® product line also includes an 'everything tube' that works whether you plug it into an electronic or magnetic ballast and even direct line voltage.
eFFINION® products are exclusively available through LED Source® locations, offering its customers a complete LED lighting solution with design, finance, product development and supply.
For more information on eFFINION® products, visit www.LEDsource.com or call LED Source® and speak to 'your LED lighting EXPERTS.'
About LED Source®
Beginning in 2009, LED Source® leadership saw a need to scale the company at a rate unlike what could happen organically.
Rapid growth through investment or banking relationships was not an option due to the financial crisis plaguing banking and finance in the U.S. Franchising was discussed, and then studied as a potential model for growth that enabled the company to finance its own growth.
The company invested heavily in compliance, education and further development of its processes and systems. In 2010, the company sold its first franchise, and since that time, has opened 20 franchises without the benefit of any marketing, advertising, or even a franchise sales person.
The company continues to receive calls daily for franchises, and in 2015, will grow its business to include a complete Franchise Development team and marketing component as well. The company expects to be opening three locations per month by early 2016. A recent benefit offered to the company's franchisees is the ability to share in National Account revenue. This alone is a game changer and unique to LED Source franchisees. In time, the company expects to grow to 250 locations in North America, in addition to adding master franchise agreements globally.
To learn more about, or to discuss franchising opportunities, please visit www.LEDsource.com/franchising.
In 2011, top LED Source management began to work towards the idea of a National Accounts program. For almost three years, the company worked through the challenges, and developed its value proposition. In 2014, the company officially launched its National Accounts division and quickly began to grow to profitability.
While National Accounts are not unique to LED Source, the company does have many unique advantages including a Design Team who work with the brand team across the table in establishing their lighting criteria and offering ideas to improve.
The company then handles all acquisition, logistics, project management and location based education as well. The company can even finance every single location, even with different ownership, such as with a franchise brand.
As a result, LED Source offers truly turnkey solutions to brands including Menchies, Massage Envy, Hurricane Grill and Wings, FASTSIGNS, Tilted Kilt and Pinot's Palette. In 2015, LED Source will likely be servicing more than 20 National Account Brands growing to as many as 50 brands in 2016. Each National Account brand will work closely with the company's team to establish plans for both their New Construction and Retrofit needs.
Then, in turn, Retrofit opportunities are pushed out to the company's LED Source franchisees and New Construction is handled by the corporate Design and Account Management teams but also, franchisees cooperate in a Revenue Sharing program on both sides of National Accounts offering a true win-win scenario.
SOURCE LED Source