InnerScope Hearing Technologies (INND) Opens 7th Hearing Aid Retail Clinic in Elk Grove, CA
February 20 2019 - 08:00AM
InvestorsHub NewsWire
InnerScope Hearing Technologies
(INND) Opens 7th
Hearing Aid Retail Clinic in Elk Grove, CA.
Grand Opening Promotion at new location expected to surpass
significant revenues generated from Fremont,
CA. location last week.
ROSEVILLE, CA.
-- February
20,
2019 -- InvestorsHub
NewsWire -- InnerScope Hearing
Technologies Inc. (OTCQB:
INND) a manufacturer and
Direct-to-Consumer ("DTC") distributor/retailer of FDA-Registered
Hearing Aids, ("Hearing Products") announces
a
successful "Grand Opening Promotion"
("Promotion")
for
its
hearing
aid retail
location
in
Fremont CA.,
located
in the San Francisco Bay Area of California, ("Fremont") which
opened Monday February
11th.
Additional
"Grand
Opening" marketing set
for Fremont
for the
next few weeks.
Fremont
is InnerScope's
sixth
audiological hearing
aid retail clinics under its dba Value Audiology & Hearing
Aid Center brand
("Retail
Clinics") in California.
Additionally,
InnerScope is announcing
its
seventh Retail Clinic with the "Grand
Opening" of
the
Elk
Grove, CA. location, a suburb
of Sacramento, ("Elk Grove") on Tuesday
February 19th.
This
would
be InnerScope's
third Retail Clinic
opening
in just
four weeks. InnerScope
will
be continuing to open
new Retail Clinics in Northern California as part of its
as
previous announced Roll-out Expansion
Plan for 2019 (the "Roll-out Plan"). InnerScope
anticipates opening
twenty-five
(25)
Retail
Clinics in
strategic
media market areas within
Northern
CA. by the end of
2019.
With the
first week of a multi-week
Promotion
for Fremont,
consisting
of a
strategic marketing plan that
included multiple Full-Page
Advertisements in local newspapers with over 100,000
printed circulation, as well as Targeted Direct Mail to Local
Residents yielded
over
$32,000 between the (2) Bay
Area Retail Clinics for prepaid hearing aid sales
orders
that InnerScope plans to delivered this month and record the
revenue upon such delivery. Marketing
cost for the first
week Promotion was approximately $8,000 and with additional
Promotional and marketing already scheduled in the coming
weeks, both Retail
Clinics already
have
customer appointments booked
for the
rest of the month. InnerScope has a
strategic marketing strategy that includes constant
marketing for
the Bay
Area Retail Clinics
that will
constantly produce revenue for each
location.
The projected ROI for
the Fremont is a
6x to
8x from marketing cost
over the course of the first year of
operation.
InnerScope expects to
significantly surpass last weeks
Fremont
and Bay Area Promotion revenues with this weeks
Elk
Grove "Grand Opening
Promotion". The first day of its
"Grand Opening, (yesterday)
Elk Grove
alone has already produced $14,000 of prepaid hearing aid
sales
orders.
The opening
of
the Elk Grove
location
allows InnerScope's to complete its Sacramento strategic
marketing plan by dominating
the
Sacramento media market with its three (3) Sacramento area Retail
Clinics. InnerScope believes
the Elk Grove Retail
Clinic can exceed
a $1
Million Dollars in Annual Revenue with over a 30% EBIDTA
based on the founders of
InnerScope previous Elk Grove
retail hearing aid store.
The
Founders of InnerScope ("Founders")
have
opened, owned, and sold off over 60 Retail Audiology & Hearing
Aid Centers over the past 15 years. These 60+ locations were part
of a separate business from InnerScope, and these very successful
locations produced well over $60 Million dollars in revenue for the
Founders before selling them off
in
stages to two of the six
major multi-billion dollar hearing aid manufacture's
or
their subsidiaries
for a total of over $40
Million Dollars. The Founders have a
Time-Tested Proven Process of Opening Retail Audiology and Hearing
Aid Centers that produce Industry
Leading Revenues and Customer Satisfactions.
"InnerScope with its manufacturing capabilities is able
to create a Unique Selling Proposition
("USP") for its Brick
& Mortar Retail Locations in the Marketplace by
offering the same level of Technology
& Features in a Hearing Aid Product to the
Consumer at a LOWER price point without sacrificing
Customer Service and Satisfaction, while
Maintaining the HIGHEST Levels of Margins &
Profits for the Company." said
Matthew Moore, CEO of InnerScope Hearing
Technologies.
"We are on target to
meet our
Roll-Out
Plan objective to
have
(25) Brick &
Mortar Retail Clinics
by the
end of 2019. In addition,
InnerScope
plans
on having
Retail
Clinics across the
United
States and in select International Markets. This
will allow a
Hearing-Impaired Customer to either choose
to purchase
a
InnerScope Hearing Product at one of our
Retail Clinic locations or through
our many online DTC
stores
or
through multiple
authorized
large
retailers,
like Walmart.
With
our
strategic retail and wholesale
partnerships we are currently building, InnerScope will soon
be the leader in delivery affordable high quality Hearing
Products", Mr. Moore
concluded.
About InnerScope Hearing Technologies
("INND")
InnerScope Hearing
Technologies (INND) is a rapidly expanding
consolidator of the hearing aid industry. Management is applying
decades of profitable
industry experience and
technology to an antiquated and disjointed industry, unlocking
scale and efficiency,
which will serve all
of InnerScope's
stakeholders. Its
direct-to-consumer
model is revolutionizing the industry with its Walmart.com
relationship representing a paramount shift in the consumption of
hearing aids by
the
hearing impaired.
In
addition, InnerScope
plans
to continue
to
open,
acquire,
and operate
a
physical
chain
of audiological and
retail hearing device clinics. InnerScope's
mission
is to serve approximately
1.2 billion people around the globe that are suffering with 25 db
or greater hearing loss across the entire
hearing impaired vertical from R&D and manufacturing through
direct consumer sales and services. For more information,
please visit: www.innd.com For the Most Up-to-Date
information about InnerScope Hearing Technologies (OTCQB:
INND), please visit and follow our
Official Twitter account @inndstock Page: https://twitter.com/inndstock
Safe Harbor
This
presentation contains forward-looking statements,
which relate to future
events or InnerScope Hearing Technologies future performance or
financial condition. Any statements that are not statements of
historical fact (including statements containing the words
"believes," "should," "plans," "anticipates," "expects,"
"estimates" and similar expressions) should also be considered to
be forward-looking statements. These forward-looking statements are
not guarantees of future performance, condition or results and
involve a number of risks and uncertainties. Actual results may
differ materially from those in the forward-looking statements as
result of a number of factors, including those described from time
to time in InnerScope Hearing Technologies filings with the
Securities and Exchange Commission. InnerScope Hearing Technologies
undertakes no duty to update any forward-looking statements made
herein.
Contact
InnerScope Hearing
Technologies,
Inc.
Investor
Relations
Info@innd.com
916-218-4100
www.innd.com
www.valueaudiology.com
For the Most Up-to-Date
information about InnerScope Hearing Technologies (OTCQB:
INND), please visit and follow our
Official Twitter account @inndstock Page. https://twitter.com/inndstock
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