HRAL PR Out today!
HearAtLast Holdings Inc. (PINKSHEETS: HRAL) is pleased to report that since its last announcement of its strategic alliance with VitaSound, operations of all HearAtLast Hearing Stores have experienced a dramatic change for the better in its overall operation of the business model.
It has been 16 months now that VitaSound has assumed operations of the HearAtLast Hearing Stores, giving HearAtLast Holdings the ability to focus on the further development opportunities in opening new Corporate HearAtLast locations as well as focusing on the development of HearAtLast as a licensing opportunity for independent Hearing Clinic operators. All aspects of the business have taken a major upward turn and the trend continues today as management has created a positive cash flow for the HearAtLast Hearing Stores. VitaSound has brought operational discipline to the management of the HearAtLast locations in 2011 and the result has been a solid improvement in all metrics. More importantly, it has implemented a "cookie cutter"-style program that can be replicated as new locations are brought into the network. The new management system has shown an increase of 76% in net unit sales with an increase of net sales of 61.5%. Not only have the clinics seen a dramatic change in sales but the return rate has decreased by 21% overall with a sales close rate increase. Customer confidence and satisfaction showed significant improvement as measured by hearing tests, referrals and walk-ins showing an increase of 35%, 49% and 35% respectively. This improvement trend has continued into the first two months of 2012, and another strong year of performance improvement is expected. The dedicated staff along with the new team at VitaSound have all contributed to this positive result. This vast improvement has re-enforced our decision to venture into our growth model with VitaSound as a "win-win" partnership scenario. "The direction in which we are heading certainly changed in a positive manner and we expect to carry this forward to our new stores and licensee opportunities," commented Matthew Sacco, President of HearAtLast Holdings. "The numbers that we are able to achieve will only get better and having a positive working model not only benefits HearAtLast in their Corporate growth but will benefit our potential Licensees as they will be able to look to our expert management partners for assistance in making sure that they also achieve the success they would expect as a HearAtLast Hearing Store Licensee," further commented Mr. Sacco. In an effort to create new revenue streams, HearAtLast is also expanding sales in ancillary products that are available at our locations. New technology in telephones and devices for the hearing impaired will also continue to be a part of the company's revenue stream.
