Platinum hits the ground running
OREM, Utah--A newcomer to the summer model alarm companies, Platinum Protection opened its doors in October 2006 and turned heads this fall after generating 30,000 accounts in its first year in business.
According to Chance Allred, one of the six principals in the company, this number is record-breaking for a first-year company. The company had set its sights on selling 20,000 accounts in its first year, with 16 offices across the country. Allred said Platinum produced an office average of "1,900 accounts in just over four months. The Houston office installed the most systems, generating 4,263 accounts over the summer. Monitronics provides third-party monitoring and has purchased a portion of the accounts.
So how'd they do it? Although the company is new, the six principals are experienced veterans, and, according to Allred, represent some of the top performers to have worked at other summer model alarm companies. Allred, Jared Hallows, Jeremy Pixton, and Keith Dyer all came from ApxAlarm, the largest summer-model company. Jacob Pruitt and Derrick Schutz were at Utah-based Pinnacle Protection.
Allred said the principals have taken what they've learned in terms of training and management and structuring a pay scale elsewhere and improved on it when they founded Platinum Protection. They've also integrated the IT systems with Monitronics' billing and payroll system.
Mike Haislip, president and CEO of Monitronics, said in an email interview that his company has "worked with many of the major summer dealers since 2003. Platinum pulled off a major feat this year by going from zero units last year to having by far the most productive first year in the history of summer programs." More importantly, he said, "they did it with class and integrity. They were great to work with and we expect even bigger things from them in the future."
Next summer, Allred expects "to do over 60,000 accounts at a minimum because we have the most talented people in the industry." A total of 307 reps and 16 managers finished the season.
The average rep pulled down $32,000 for the summer, while a manager made about $200,000. Three reps who sold 300 accounts over the 100 days of the summer made $170,000 for the summer.
With those kinds of results, "Many college students start out doing this as a summer job and then decide to turn it into a career," Allred said.
Preparing for next summer, Allred said, "we're beefing up our call center, our IT, customer service and all other operations by hiring, training and improving each department to provide customers and other employees with a first-class experience."