Imagine my surprise when I saw the following graphic in the middle of my evening update from TWICE, the consumer electronics industry publication:
It’s not a terrible ad for industry insiders, but still, a bit of a surprise. Check out where it leads:
streambankllc.com/engagements/firedog.html
As the site explains:
- Brand Strength
- Number 2 market position
- Multi-service offering under one brand
- National footprint with coverage of over 80% of the US population
- Market-leading customer satisfaction scores
- Generated over $272 million of sales in F2008
- Achieved 28% revenue growth and more than doubled EBT in F2008 vs. F2007
- Current Offerings
- PC Services – PC repair services, new computer set-up, remote service plans, and networking support
- Repair In Home/Depot – In-home TV repair, warranty/OEM repair services, and service depot
- Home Theater & Audio Services – Flat Panel installation, surround sound/ home audio, TV Projector mounting, custom A/V solutions
- Future Potential
- Significant opportunity for growth within the $26 billion consumer electronics services market
- Unlimited brand potential to go beyond consumer electronics
Really, rather interesting. If they’re doing so well, though, with $272 million in sales in 2008, why are they in bankruptcy in the first place?
You interested in the company? It’s not too late to bid! You can learn more about the auction here: Firedog Intangible Asset Sale.
Good for you for pointing out how much they make and questioning why they’re in bankruptcy. There should be a lot more wondering done about such occurrences!
This was Circuit City’s brand. I remember sales clerks at Circuit City: ‘Do you need installation help with that, you can purchase FireDog support’. I used the service once, but it was actually for a car alarm in a Southern California store. They practically pushed it on everything sold at circuit city that required installation support.
I really never figured out the spin-off, especially when I only saw FireDog services/stores in kiosks inside circuit citys. Electronics stores do charge extra for installation, but I’d never seen a separate brand like this. Perhaps they already knew the ‘circuit city’ brand was in hot-water long before it fell apart.
Hey Dave,
It’s interesting how they stress the brand. I remember a guy trying to sell me a newspaper once at twice its value due to “name recognition”…but that was before the Internet and it makes me wonder. In a world of keyword marketing and brand recognition, is a brand worth more than a business? Think the new music business selling personal appearances and memorabilia instead of music since it’s often free for download. Will marketing a worldwide brand and selling it to those who want to do business under it become a realistic industry in the future?
more on firedog sale here:
http://www.cepro.com/article/firedog_assets_for_sale_opportunity_for_ce_pros/D1/
Firedog’s client list is “enormous,” says Birlem, who is working to track down the exact number..
But not so fast, she cautions. Lawyers currently are reviewing the rights of former firedog customers.
“The sale is subject to a privacy omnibus,” Birlem explains. “Someone will manage that policy. The court will review the privacy clauses and determine how the database can be used.”
Those issues will be hammered out before the auction.
According to a Streambank document (pdf), firedog enjoyed strong customer loyalty. Eighty-nine percent of customers were highly likely or likely to recommend firedog service to friends.
The other 11 percent of customers were indifferent or unlikely to recommend the service.
The caveat: it is unclear where this research came from – firedog itself or a neutral third party.
I bought a FIREDOG car alarm system and it stopped working. I am writing the better business bureau about shoty work done on my car.. I want a refund.
Currently I am sueing Firedog / Circuit City.
I had a Firedog system installed in my car in March. Now, it has messed stopped working, so my car won’t even start.
Linda, sounds super frustrating. I think you might call a few car stereo installers and see if one of them can just remove the entire firedog system from your vehicle. Good luck!
It was Circuit City’s brand.
if you want your home to be safe on vacations trips then its a lot better if you install not just motion detectors but also cameras as well, hiring monitoring companies to look over your surroundings while your gone is another wise move.
Hi David, I have just set-up my own computer repair business and am considering developing a brand.
Your thoughts would be appreciated.
Regards,
Mike