Buy spawns dealer plan
ORLANDO, Fla.--In the five months since acquiring Marlin Central Monitoring, Security Networks developed and last month introduced a dealer program that aligns the wholesale central station with its competitors.
The new program includes a loan and an affiliate program. Dealers looking for financing to grow their business can now apply for a loan based on a multiple of their accounts or can sell their accounts outright.
"Once we knew we were acquiring Marlin, it was something I put on my wish list to provide to dealers," said Richard Perry, president of Security Networks, a West Palm Beach, Fla.-based full-service installation firm. "We feel like it's a product that will be useful to our dealers and attract dealers to use our central station."
Individuals that seek to take money out of their business can sell some or all of their accounts to the company through the affiliate program. Although dealers are not restricted from providing continuing services to these customers, the program is only offered to those companies located in the same markets as Security Networks.
This is to ensure "if something happens to the dealer and we had to go in and service those accounts, we can," Perry said.
Security Networks has offices here, in West Palm Beach, Charlotte, N.C., and Broomhall, Pa. Marlin, which works with more than 100 dealers and provides monitoring in 38 states, had not added any customers to the new program as of early September.
"We don't discriminate on size," according to Perry, who said it does not matter if a dealer has hundreds or thousands of accounts. "We're simply adding this as a value-add service to Marlin dealers."
The last few months have been a busy time for the company, and the Marlin deal, with its added business focus coming into play for the systems integrator, has not distracted the company from its goal to grow to approximately $3 million in recurring monthly revenue over the next five years.
Since the Marlin deal closed in April, Security Networks has grown the central station from 15,000 to 35,000 accounts. The company has done so by transferring its own 5,000 residential and commercial retail accounts to the facility and acquiring Broomhall-based Tri-State Alarms, which added another 14,000 residential accounts into the fold.