PRIVATE LABEL SALES PAVE THE WAY FOR WORKSPORT’S BRIGHT FUTURE AND THE BEST RETURN ON INVESTMENT FOR FNHI SHAREHOLDERS
Recent (OTCQB:FNHI) news releases have announced Worksport’s success with private label sales which pave the way for the best return on investment for FNHI shareholders. Our tonneau covers are now being customized for larger, well-established national companies in the U.S. and Canada. They will brand the covers with their own names. Management strongly believes that this is a highly promising avenue on our road to success as an innovative growth company. We’d like investors to understand why it’s happening. In October, there were two very important announcements concerning our private label business. The first: we received the second order from a major Canadian master warehouse distributor. The second: a new relationship with a U.S. truck accessory distributor. This open-ended, long-term, manufacturing contract for Tri Fold soft covers will mean significant, regular orders that could reach $600,000 annually.
In both cases, the Worksport brand will not appear on the products sold. FNHI has worked very hard to establish the Worksport identity and seen by many as a solar energy stock with the innovative Helios solar truck beds. It took persistence, dedication and much legal help. Even so, some investors have wondered about why we would sell our patented and proprietary truck bed covers under another name.
Four Reasons why Private Label Sales will help for the Best Return on Investment
1. Our target market is in the billions. Millions of light trucks are on the road, and many more are sold each year. As we have said many times, each one could benefit from a tonneau cover. Even with unlimited financing, way beyond our wildest dreams, it would take years to saturate the market. Successful companies are not built overnight. Even the biggest most famous ones still have competitors.
2. Private label sales catalyze our growth in enviable ways. We are now interacting with much bigger companies. They want our products. In the case of the U.S. company, the order was completely unsolicited. They’d used a competitor’s product and found it wanting and they sought an independent company, like Worksport. Now, after an experience with a truck bed cover that didn’t work, they will sell one that does operate very efficiently, and innovatively.
3. We are learning a great deal from our new private label partners. While Worksport does interact with customers, it is not about changing or altering our truck bed covers to meet a specific need, while preserving our patents. In the new relationships, the larger national distributors we are working understand the business and the product well enough to suggest changes or innovations. They know their own markets, and that helps us gain insights that would never have been available. It’s a win-win on both sides. Worksport’s products will improve as a result.
4. The private label partner’s sales funnels are highly developed in their own markets and locations. These are specialized areas Worksport could never penetrate—and yet now we have. Private label means relationships with industrial and product designers, materials suppliers, and logistics providers. It moves us into a new higher level in the industry. We believe it will make us a better company. And that means investors will benefit.
Worksport is a disruptor. Call us the Titans of Tonneaus. A market driver. An innovator. Today’s innovator in light trucks, the top selling vehicles. We’re not aspiring to be “front row and center.” Methodically, we will be behind the scenes as the producer. It’s the best place to be. We rely on amazing distribution and branding partners. They do what they do best — build their market and sell. We do what we do best — innovate.
And that is why private label sales will vault Worksport into the next highest business category and contribute to the best return on investment for FNHI shareholders. It will help us grow in profit and revenue. At our next investors conference, we urge investors ask us about this.
Orders Improve our Bottom Line
Private label customers are not competitors. They are partners. With their orders, we are drastically improving our bottom line. Orders directly improve investments to gain the best return on investment for FNHI shareholders.
Start to notice of pickup trucks around. More are sold than any other vehicle. When you look at the most popular models, F150, Sierra, Silverado, Canyon, RAM, and Ford F-Series, note the bed cover. If you wonder whether Worksport is the innovator behind that cover, more and more the chances are it will be.
If you’d like to know more, contact us. We’d love to tell you more about our new story.