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CINCINNATI–(BUSINESS WIRE)–May 7, 2004–Pickups Plus, Inc. (OTCBB:PUPS), a leading retailer and national franchiser in the $38 billion truck and SUV aftermarket accessory industry, today announced its Columbus, OH Franchisee is the first to become a distributor for its new ValuGard product and service offering. Through its recently announced acquisition of Auto Preservation (AP), the Company can offer automotive dealerships a single source solution for their outsourcing needs, including care and warranty products (under the ValuGard label) and the sale and installation of pickup truck and SUV accessories. These products include paint sealant, undercoating, fabric protector and anti-rust compounds plus a full line of prep/recon products.
In addition to providing automotive dealerships this complete service offering directly within its own markets, the Company has programs for Distributors, Jobbers, and Detailers throughout the United States. Its independent franchisee in Columbus has agreed to become a Distributor within their market for the ValuGard offering. The turnkey offering will provide distributors with everything they need to operate and service local automotive dealerships with this premier service including; certified training program, full line of ValuGard car care and environmental protection products and ongoing sales and marketing support. Acting as a distributor in the Cincinnati market alone, AP processed over 15,000 vehicles for automotive dealerships last year and generated over 1.5 million dollars in revenue.
“It is very gratifying to bring a complimentary service offering to our franchisees, and see it be so well received,” said Mr. Jesson, President and Chief Executive Officer of Pickups Plus. He continued, “Pickups Plus has a proven template to capture and grow the consumer market through its retail stores. The addition of the ValuGard offering now provides us an entree into the automotive dealerships which should enhance our company store and franchisee revenues.”
Larry McCoy, the company’s Columbus, OH franchisee said, “After attending the Automotive International Prep Excellence training program and reviewing the local market potential, I am very excited about offering the ValuGard services in conjunction with a line of accessories to the local automotive dealers.” He continued, “The ValuGard service should add six figures to our revenue in just the first year. Our exclusive distribution agreements for certain accessory products it will enhance the dealerships ability to better satisfy customer requests. Because our business is built on repeat customers and referrals, our real benefit comes from establishing a long-term relationship with these consumers at the time they purchase their vehicle.”
Pickups Plus, Inc. is a leading operator and franchiser of retail automotive parts and accessories stores catering to the light truck market, which is considered to be the fastest growing segment of the motor vehicle market in the United States. There are currently six franchised locations in operation and two Company owned-stores. The Company intends to pursue an aggressive expansion strategy by opening additional company-owned stores and franchise locations to become the first nationwide chain in its growing, but highly fragmented industry. For more information about the Company go to www.pickupsplus.com and look for updates in the Chairman’s Letter which will be posted monthly.
Safe Harbor Statement: Except for historical information contained herein, the statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, Section 21E of the Securities Act of 1934 and the Private Securities Litigation Act of 1995. Forward-looking statements involve known risk and uncertainties, which may cause the Company’s actual results in the future to differ materially from forecasted results