Leisure Direct Announces Opening of Dealer Location in Cincinnati
Last Update: 9:03 AM ET Apr 24, 2007
PERRYSBURG, OH, Apr 24, 2007 (MARKET WIRE via COMTEX) -- Leisure Direct, Inc. (LDTI : leisure direct inc com
10:17am 04/24/2007
LDTI0.13, +0.03, +25.0%) announced today that it will open a retail store in a prime location in Cincinnati, Ohio. The location will sell spas manufactured by Royal Spa Manufacturing along with a variety of other leisure products. John Ayling, Chairman of Leisure Direct, stated, "We will be located in a prime location to capture market share and serve our customers in the Cincinnati area. Revenue from the operation will begin to be booked this quarter. This is only the first of many company-owned dealer and service locations as Leisure Direct begins to execute its business plan. Our initial thrust will be locations in the Midwest region of the country."
Leisure Direct has hired an industry veteran from the Cincinnati area to lead sales and installation services from the location. The location will operate under a company brand name that signifies Leisure Direct's intent to sell and install products that are both complementary to spas/hot tubs and part of the "backyard" leisure industry.
Robert Dapper, President of Leisure Direct and founder of Royal Spas, stated, "We will quickly establish the location as a premier dealer and will leverage Royal Spas' proven sales and marketing approach to drive first year sales at the Cincinnati location to between $1 million and $1.5 million, with EBITDA in the $120,000 to $150,000 range. Within two or three years, we fully expect to book more than $2 million of revenue annually."
Leisure Direct's business plan includes acquiring or opening 50 to 60 locations over the next three to five years, with 10 to 15 of them being consummated in 2007. Leisure Direct will begin to announce dealer acquisitions over the next few days and weeks. Once its initial dealer network is established, the company intends to acquire manufacturers of spas/hot tubs.
