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TheaterXtreme Poised for Comeback
After a three-year lull following bankruptcy, new owners are bringing back TheaterXtreme franchise back to life.
TheaterXtreme, the retail franchise that designs, sells and installs home theaters, is on the comeback trail.
The TheaterXtreme Entertainment Group (TXEG) declared Chapter 7 bankruptcy in an SEC filing in December 2008. TheaterXtreme never went away, but its assets were purchased by furniture maker JC International in June 2009.
TheaterXtreme is re-emerging with a new updated website, exclusive product lines and potential new franchisees in Nevada, New Jersey, South Carolina, Texas, Utah and West Virginia.
According to a letter from president Robert Cribbs, the renewed interest in the franchise brand "is very exciting news. We are currently in the final stages of laying out our expansion plan, and soon we will be actively and openly marketing franchises in the U.S."
Cribbs says there are several individuals and groups interested in TheaterXtreme's business plans. "The new TheaterXtreme model we have built is built off of the original, very popular, concept, but it will be much more efficiency focused, with a smaller corporate footprint, as well as smaller store footprints and more efficient store designs. On our road map one of our first goals is to open our first corporate (flagship) store in Wilmington, Del., where it all began."
The new smaller store concepts will focus on keeping overhead low, while increasing revenue and product availability, and ultimately profits, according to Cribbs. The previous franchises focused on malls. "We will have more cash n' carry products to increase sales, leaning more towards traditional retail while still keeping focus on what the original TheaterXtreme brand is known for: custom theater design, packages and pro installation."
TheaterXtreme is also working out contracts with key vendors and distributors in an effort to bring substantial discounts and shipping deals and exclusive product offerings. TheaterXtreme says it has commitments already in place from "most all of the major brands we wanted in the program."
"With the combined purchasing power of all the future TheaterXtreme stores as a whole, we know that we will be able to offer very competitive pricing for our members and our customers through our new system," says Cribbs.
There are still currently a few pre-existing licensees left from the original corporation franchise program, and agreements are being worked out to keep them as part of the new program. The agreements will allow them continued use of the TXEG name and trademarks and the ability to participate in new member programs and a new purchasing system.
The TheaterXtreme Entertainment Group (TXEG) declared Chapter 7 bankruptcy in an SEC filing in December 2008. TheaterXtreme never went away, but its assets were purchased by furniture maker JC International in June 2009.
TheaterXtreme is re-emerging with a new updated website, exclusive product lines and potential new franchisees in Nevada, New Jersey, South Carolina, Texas, Utah and West Virginia.
According to a letter from president Robert Cribbs, the renewed interest in the franchise brand "is very exciting news. We are currently in the final stages of laying out our expansion plan, and soon we will be actively and openly marketing franchises in the U.S."
Cribbs says there are several individuals and groups interested in TheaterXtreme's business plans. "The new TheaterXtreme model we have built is built off of the original, very popular, concept, but it will be much more efficiency focused, with a smaller corporate footprint, as well as smaller store footprints and more efficient store designs. On our road map one of our first goals is to open our first corporate (flagship) store in Wilmington, Del., where it all began."
The new smaller store concepts will focus on keeping overhead low, while increasing revenue and product availability, and ultimately profits, according to Cribbs. The previous franchises focused on malls. "We will have more cash n' carry products to increase sales, leaning more towards traditional retail while still keeping focus on what the original TheaterXtreme brand is known for: custom theater design, packages and pro installation."
TheaterXtreme is also working out contracts with key vendors and distributors in an effort to bring substantial discounts and shipping deals and exclusive product offerings. TheaterXtreme says it has commitments already in place from "most all of the major brands we wanted in the program."
"With the combined purchasing power of all the future TheaterXtreme stores as a whole, we know that we will be able to offer very competitive pricing for our members and our customers through our new system," says Cribbs.
There are still currently a few pre-existing licensees left from the original corporation franchise program, and agreements are being worked out to keep them as part of the new program. The agreements will allow them continued use of the TXEG name and trademarks and the ability to participate in new member programs and a new purchasing system.
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About the Author
Jason Knott, Editor, CE Pro
Jason has covered low-voltage electronics as an editor since 1990. He joined EH Publishing in 2000, and before that served as publisher and editor of Security Sales, a leading magazine for the security industry. He served as chairman of the Security Industry Association’s Education Committee from 2000-2004 and sat on the board of that association from 1998-2002. He is also a former board member of the Alarm Industry Research and Educational Foundation. He is currently a member of the CEDIA Education Action Team for Electronic Systems Business. Jason graduated from the University of Southern California.
2 Comments (displayed in order by date/time)
Maybe they can get a good deal on soon-to-be vacant Best Buy stores…
Page 1 of 1 comment pages
I guess they still have not learned from the last several years that B/M AV stores are a loosing proposition. Good luck paying the light bills with that .5% margin. Anyone who signs up for a “Franchise” would be foolish not to so some serious market research. But then again, I would love to have another retail front to send my customers to to listen to and see the products before I sell it to them.