Business
InnerScope Hearing Technologies Inc. Announcing the "Grand Opening" of its Newest Hearing Aid Retail Clinic and Two Additional Locations that has a Market Yield of $600+ Million in Revenue
InnerScope Hearing Technologies Inc. Announcing the "Grand Opening" of its Newest Hearing Aid Retail Clinic and Two Additional Locations that has a Market Yield of $600+ Million in Revenue.
About this update from Innerscope Hearing Technologies, Inc.
[{"type":"text","content":"\nInnerScope continues its expansion rollout plan of opening new audiological hearing aid retail clinics with the latest \"Grand Opening\" of its new Sacramento, California location and the two additional locations in Elk Grove and Fremont California with \"Grand Openings\" slated for early February 2019\n\n \n \n \n \n \n \n \n \n \n \n \n INND PR Jan. 15\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n INND PR Jan. 15\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Val PR Jan. 15\n \n \n \n \n \n \n \n \n\n ROSEVILLE, Calif., Jan. 15, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- InnerScope Hearing Technologies Inc. (OTCQB: INND) announced the latest \"Grand Opening\" of its newest audiological hearing aid retail clinic under its dba brand \"Value Audiology & Hearing Aid Center\" (\"Retail Clinic\") located in Sacramento, California. In addition, InnerScope has signed Letters of Intent (\"LOIs\") for long-term leases on two more Retail Clinics located in Elk Grove and Fremont California to be slated to open in early February 2019. InnerScope is continuing to deliver and execute on its previously announced expansion rollout plan by opening at least 22 new audiological hearing aid retail clinics throughout Northern California in 2019 (\"Rollout Plan\"). InnerScope's Rollout Plan of locating each Retail Clinic is based on key location demographic revenue drivers, such as, age, income, and high density populated areas. According to surveys conducted by www.hearingtracker.com, approximately 35% of the U.S. population age 65 or older has hearing loss that may benefit wearing hearing aids but only 15% of those people currently wear hearing aids (\"Conversion Rate\"). Also, according to www.hearingtracker.com the industry average price sold is $2,372 (\"Average Price\") per unit (a unit equals one hearing aid) and equal to 1.84 number of units purchased per person (\"Binaural Rate\") meaning, 84% of the time a person purchases two hearing aids (units). InnerScope's Key Retail Clinic Location & Demographic Revenue Drivers (*Per U.S. Census Data: average of 2.58 people per household) For Example: InnerScope's Sacramento Retail Clinic, located in the Country Club/Arden-Arcade Area: (One of the highest concentration of people over the age of 65 in Northern California) 89,425 age 65+ households230,716* people over the age 6580,750 peopl...