ATLANTA, May 7, 2013 /PRNewswire/
-- Speedemissions, Inc. (OTC Bulletin Board: SPMI), a
leading vehicle emissions testing and safety inspections company
with stores in Atlanta,
Houston, St. Louis and Salt
Lake City today announced a major change in the direction of
its business model to the SpeedEmissions Car
Care Stores. This new concept will allow the
Company, using its emission customer base as the foundation, to
provide not just emission repair services but an array of basic
automotive services and products to its customers, and to more
rapidly expand its store presence throughout the 22 states where
de-centralized vehicle emission testing is mandated by the U.S.
Environmental Protection Agency.
Over the past 12 years, Speedemissions has helped pioneer the
"test only" model for emission testing and/or safety inspections.
During this time, Speedemissions primary focus was to perform the
vehicle inspection and not up-sell customers' on other automotive
products and services. However, after reviewing emission industry
and automotive aftermarket forecasts over the last several months,
the Company now believes that remaking itself into more of a
complete auto service provider will enable it to grow its business
and potentially move into new markets and accelerate franchise
sales.
"We have been studying this modification of our business model
for some time," commented Rich
Parlontieri, President/CEO of Speedemissions. "In an
industry where the American consumer is now holding a car for 11+
years and where nearly 86% of light automotive vehicles are outside
the manufacturers' warranty, we believe offering a number of
different automotive services to our customers is a logical move
for us to make now and for the long term. We believe this
transition to emission repair, tune-up, brake repair,
air-conditioning, diagnostics and other automotive services and
products will hopefully result in a higher per customer ticket
average, thereby increasing both revenue and income. In addition,
we expect the decision to remodel four to six of our current stores
and build new stores will enhance the growth of the SpeedEmissions
Car Care Franchise unit."
About Speedemissions Inc.
http://www.speedemissions.com
About
CARbonga.
http://www.carbonga.com
Speedemissions, Inc., based in Atlanta, Georgia, is a national brand offering
our customers quick and efficient emission testing and/or safety
inspection as required by law. The Company is in the
Atlanta, GA. Houston, TX, Salt
Lake City, UT and St. Louis,
MO. markets. The Company has expanded its business
model through its newly introduced SpeedEmissions Car Care Stores
and SpeedEmissions Car Care franchise unit. Speedemissions hopes to
be among the first companies to offer its customers quick and
efficient vehicle emissions testing and repair services. In
addition, Speedemissions owns and developed the CARbonga line of
apps for smart phone users. CARbonga is the first app which allows
the average person to detect automotive car problems for their own
vehicle or when buying a used vehicle.
Certain statements contained in this news release regarding
matters that are not historical facts may be forward-looking
statements. Because such forward-looking statements include risks
and uncertainties, actual results may differ materially from those
expressed in or implied by such forward-looking statements. Factors
that could cause actual results to differ materially include, but
are not limited to, uncertainties pertaining to market acceptance
for Speedemissions' products and services, its ability to succeed
in increasing revenues in the near term to attain profitable
operations and generate sufficient cash flow from operations, the
effect of new competitors in its markets, its integration of
acquired businesses, and other risk factors identified from time to
time in its filings with the Securities and Exchange Commission,
including Speedemissions' Annual Report on Form 10-K, Quarterly
Reports on Form 10-Q and current reports on Form 8-K which are
available at the SEC's website www.sec.gov. Other factors not
currently anticipated may also materially and adversely affect
Speedemissions' results of operations, financial position, and cash
flows. There can be no assurance that future results will
meet expectations. While Speedemissions believes that the
forward-looking statements in this news release are reasonable, the
reader should not place undue reliance on any forward-looking
statement. In addition, these statements speak only as of the
date made. Speedemissions does not undertake, and expressly
disclaims any obligation to update or alter any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by applicable law.
For Further Information: Contact Rich Parlontieri (rp@speedemissions.com or
770-306-7667)
SOURCE Speedemissions, Inc.
