Company targeting 20%-30% revenue growth in Gulf Coast region
TORONTO, April 24, 2019 /PRNewswire/ - Nerds on Site Inc. (the "Company") (CSE: NERD) (FSE: 3NS.F) (QTCQB: NOSUF), a mobile IT solutions company servicing the SME marketplace, is pleased to report further development of its Florida footprint with as it launches its signature NERD parade in Punta Gorda, Port Charlotte, North Port Florida.
"This gulf region is a strategic expansion hub for the Company in Florida and the NERD parade is a proven marketing initiative which showcases the NERDS ON SITE brand to new clients in the prospective service areas," said Mr. Charles Regan, NERDS on Site CEO. "Historically, not only has it resulted in client awareness and spiked growth, but it has attracted new talent to potentially join the NERD team.
The Florida NERD team has designed NERD Parades and routes of approximately 100 miles to cover major commercial, industrial areas, and busy entertainment/social districts (NERD Parades run regularly to raise awareness in a rotating set of communities). This approach stimulates small and medium sized businesses and overall brand awareness as the NERD mobile profile is a unique, highly visible differentiator as the Company builds from Clermont/Lakeland south to Clearwater, St. Petersburg, Sarasota, Punta Gorda, Port Charlotte, North Port and through to Fort Myers.
NERD Parade Community events, outcomes and highlights:
- NERD Sponsorship of the Clermont Cyberwolves Robotics Club (now going to the World competition)
- May 4 "Fill the Beetle/Feed the People" event for Clermont downtown mission
- Spot the NERDMobile FaceBook contests in several cities attract local business sponsorship for the contests
- South Lake Chamber of Commerce held welcoming ribbon cutting for NERDS
- Port Charlotte Friday Night Lights IT support
- Invited to bid job contracts with 2 phone/internet companies and large legal firm - both looking to outsource IT support
Revenue Drive in Florida
The Company is projecting a team of 20-30 NERDS in Florida within next 12 months. Based on the Company's operating history, a NERD team of this size in Florida is forecast to generate approximately $2.0 - $2.2 Million in revenue, with targeted 8% EBITDA margin.
"We are extremely pleased with Florida team's expansion, and we are looking forward to onboarding new NERDS every month for next 12 months to achieve our targets in this key building block region," said Charles Regan.
About Nerds On Site:
Nerds on Site, a company founded in 1995, specializes in providing cost effective, leading edge solutions to Small and Medium sized Enterprise (SME), serving as the complete SME IT solution specialists. Nerds on Site was established in London, Ontario with current annual revenues of approximately $10,000,000 with normalized net earnings of about $100,000.00. The company services over 12,000 clients per year with a superb 96.5% customer satisfaction rating. NOS's business model is based on Nerds sub contracts in Canada and a Franchise model for USA expansion.
Forward Looking Statements - Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
SOURCE Nerds On Site Inc.
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