Progressive Wireless, L.L.C
Telecommunications - Scottsdale, Arizona, United States
Progressive Wireless, L.L.C Employees
Progressive Wireless, L.L.C Details
Overview When AT&T acquired Cricket Wireless in 2014 it virtually doubled Cricket's coverage area. This network expansion has created a gold rush to open new virgin territories without any Cricket locations in markets where there is little to no competition for prepaid wireless services. Progressive Wireless, LLC 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.Management TeamThe Company's President was recruited by Cricket Wireless after recently selling his exceptionally run 35-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.MarketThe 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.Competitive AdvantagesAdvantages include management team expertise, proven marketing strategies, virgin territories, strategic locations, ideal combination of Cricket's available products and excellent services at low prices. We will also utilize advanced business management systems including Retail IQ and RQ4.Conclusion & Projected ReturnsProjections show investors receive 47% average annual cash return over 5 years with nearly a 500% ROI assuming a sale or IPO in the fifth year based on just a 4X multiple of earnings. Progressive Wireless, LLC is offering 20% ownership in the company through a 506(C) PPM offering. Accredited investors only. Units are being sold for $50k with some half units available.
