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AutoXray, Inc.
AutoXray, Inc. was the leading provider of cost effective automotive diagnostic equipment to both professional and amateur technicians. AutoXray's patented technology, functionality, and compact designs have garnered the Popular Mechanics Editor's Choice Award for four years, and the company was honored with a “Top 20 Tools Awards” from Motor Magazine.
Goal
To develop the company in all aspects of its business and position it as a portfolio acquisition within three to five years.
Task
Reconstruct company image, develop sales, marketing, engineering, accounting, and customer service capable of supporting rapid increases in sales and distribution of the Autoxray product lines.
Goals Achieved
In five years Autoxray was recognized as the prominent brand in the cost effective market segment of the Automotive Diagnostic Tool industry, culminating in an acquisition by the largest Automotive Diagnostics Tool manufacturer, SPX Corporation (NYSE SPW).
Highlights
Capital
No funding.com
Find money within your business
Maximizing returns on upgrade programs
Marketing
Simple Brand
Re-branding the Company
Focus groups to define the Re-branding
Loyalty Programs
Product upgrade, email campaign, newsletters
Public Relations vs advertising
Event Planning
Sales
5 years - 25 fold gross revenue increase
Cost effective display programs
Penetrating US distribution, competitor product lifts
Product Development
Rethinking Simple Development
Rapid product identification and development, customer focus group to define new product requirements
Contributing Success Factors
Market Factors, Intellectual Property rights, and the reality of patents
Acquisition
Goals of the seller
Identifying your buyer
How much is it worth
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