We have been in contact with Tyler P. Libby, President of Atlas Technology Group (Aka. Racing Limos America Inc.) trading under the symbol ATYG.
Mr. Libby has provided Wall Street Discussion with an exclusive Shareholder Q & A.
The following are questions answered by Mr. Libby in email communications between Wall Street Discussions, and Racing Limos America Inc.
How many active franchises do you have and their locations?
We have 5 with a projection of 3-6 coming in 2012.
How many Limos does corporate own or operate?
Corporate neither owns nor operates limos. As “corporate” and the Franchisor, we guide the franchisees on how to operate and improve their businesses. We are considering opening some company operated locations, but only to continue improving our franchise model, and only until the location is sold to a franchisee. We know we are on a good track, as our franchisees presently operating have, overall, had 7 consecutive quarters of revenue increases. We purchased Racing Limos from the previous owner 8 quarters ago.
How many Limos appeared at the Super Bowl?
Our goal was to place at least one limo at this past Super Bowl, which we did, and are already working toward greater presence at next year’s game.
How many franchises or locations did you open in 2011?
None. Why? Because we’ve spent the better part of past 15 months completely restructuring the business model, from a conventional limo service with a theme, to a marketing and advertising company, for which multimedia advertising, cross advertising, internet advertising, and yes, paid rides, are a part. Though we originally had projected opening locations in 2011, we ultimately decided that 2011 would be a “rebuilding year.” It would have been professionally and ethically irresponsible for us to sell franchises without being sure our model would be successful for the franchisee. With franchise fee and set up costs ranging from $200,000 to $2 million, we want to be absolutely confident that a franchisee with that investment will be a success. Nothing is 100 percent perfect, but we want to be sure we are helping franchisees to be successful, not experimenting with them. In addition, regarding those who were (and are) aggressively interested in a franchise, we have had cause to reject applicants because they are not “a fit” for the business. Franchises do not open overnight. It take months from initial inquiry to signed agreement. Those we are considering and running through the application process, should they succeed, will not open until mid to late 2012. Our major objective regarding franchises is to build a high success rate so future franchisee applicants will be confident in an investment with Racing Limos America.
To address our Facebook following. This page is for you. Our investors and franchisees. We didn’t create this page to drum up business. We created it keep you and anyone interested in our business apprised of our progress. If you want to see more followers on our FB page, then you should follow it. I recommend that all of you out on this board follow it.
Our corporate office presently operates centrally out of a single family residence to preserve capital for debt and growth. But let’s not get confused about what that means. You cannot simply buy a piece of land and throw a building up on it and call it home. It can take YEARS to locate and build an appropriate HQ. And in that time, you need to operate somewhere. Please consider the process of obtaining and developing land and let that form your perspective. As CEO Albion has often said, “business works in years.”
So please do not let the fact that we operate out of a house make you think we are not a legitimate organization. As we grow and our revenues grow, we will consider when the time is right to step out into a commercial property location.
We are working with Atlas Technology Group to bring Shareholders exclusive content through Wall Street Discussions. If you have any further questions for the company, feel free to post in the comments below or email them to firstname.lastname@example.org. Mr. Libby will be watching our website for further questions and will generally answer them ASAP!
Disclaimer: Wall Street Discussions did not receive any kind of compensation from Atlas Technology Group Inc. or their subsidiary Racing Limos America.
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