Franchise Holdings International, Inc (OTC.PK FNHI) is an investment company partnering with select high-revenue, asset-backed brands. CEO Steven Rossi has been with the company since late 2014 and has been busy establishing a business model and building up an incredible team. FNHI’s current holding is called Worksport, a company dedicated to designing, patenting and producing tonneau/truck-bed covers.
This niche product has managed to become the top selling truck accessory in the auto industry aftermarket in US and Canada with sales of $6 – 7 million per day. Worksport is poised to make major strides in this market by focusing on launching new technology in both the OEM and SEM markets, and FNHI is behind them all the way.
Taking Over Production
The majority of truck covers currently produced are not actually made by the truck manufacturer. Instead, companies like Worksport produce truck covers to meet the exact specifications required for a proper fit and full functionality. These covers protect both the truck bed and the contents within it.
Worksport makes covers for both the OEM market and SEM market. Their expertise makes them the perfect choice for truck owners to turn to when they need quality covers. Their combination of innovation and affordability puts Worksport in a very promising position.
It’s clear the SEM market is the primary driver of tonneau sales, but Worksport isn’t discounting the opportunities in the OEM Market either. Similar to their goals with the SEM market, Worksport could enter the OEM market as a behind-the-scenes player. Truck manufacturers could turn to Worksport if they needed to fulfill orders for covers, but the covers could be marketed and sold under the manufacturer’s name. It’s their focus on patented technology and their dedication to pushing the tonneau industry forward that has managed to set them apart from direct competitors. Recently, Worksport has made a solid push into the private label market serving as the product of choice for some of their competitors.
Meet the Team
Steven Rossi has assembled some of the brightest minds who work both on- and offline to ensure the company’s success. By drawing from a wide pool of backgrounds and industries, including the political spectrum, Rossi can look to his team to give him the foresight and perspective he needs to continue to make solid long-term decisions for the company. And right now, the team is entirely focused on building revenue — not on incentivizing the team with additional shares of the company. Rossi himself recently retired 100 million of his common shares, reducing the total share volume by 45% to 122 million shares.
Worksport has come a very long way in a short amount of time. Within just seven years, they’ve established distribution in both the US and Canada, gone from one patent to upwards of 10, and now have seven different products available for purchase. FNHI is set to be cross-listed on both American and Canadian stock exchanges because of their bold moves and business savvy, but that’s really just the beginning of their ambitious plans.
Worksport has several new products in development they believe will catapult them to the next level, including a customizable truck cover called the Alpha. This cover can not only be built-out according to the owner’s wishes, but it can also be upgraded and changed as the truck owner’s needs change. In addition, they’re also working on solar technology that can supply power to truck owners, whether they’re using it for professional or personal purposes. The ultimate goal is to partner with electric vehicle makers of both today and tomorrow to supply power without the help of conventional charging station.
This year promises to be an active one for Worksport, as they work toward their ultimate multi-million revenue goals. The company is already in talks with major brands in the market space who want to entrust them with their tonneau needs. Their vision and dedication make them an upward climber in the competitive automotive industry.
About the Author
Stuart Smith is the CEO and Founder of SmallCapVoice.com. SmallCapVoice.com. is a recognized corporate investor relations firm, with clients nationwide, known for its ability to help emerging growth companies build a following among retail and institutional investors. SmallCapVoice.com utilizes its stock newsletter to feature its daily stock picks, audio interviews, as well as its clients’ financial news releases. SmallCapVoice.com also offers individual investors all the tools they need to make informed decisions about the stocks they are interested in. Tools like stock charts, stock alerts, and Company Information Sheets can assist with investing in stocks that are traded on the OTC BB and Pink Sheets. To learn more about SmallCapVoice.com and their services, please visit https://smallcapvoice.com/blog/the-small-cap-daily-small-cap-newsletter/