World News: 13:30 GMT Thursday 6th December 2018. [Franchise Holdings International, Inc. via Globe Newswire via SPi World News]
PHOENIX, Dec. 06, 2018 (GLOBE NEWSWIRE) -- on its Stock Day Podcast. The Company’s strategy is acquiring businesses in the fastest growing segments, creating shareholder value in the process. CEO and Director Steven Rossi talked with Stock Day’s Everett Jolly.
Jolly started by mentioning the success of Worksport LTD Inc., a fully owned subsidiary of Franchise Holdings International, Inc. Worksport LTD is an innovative manufacturer of high quality, functional, and aggressively priced tonneau / truck bed covers for the light truck market. Rossi says the Company has been working to expand and enhance the Worksport brand internationally.
“Once we have the infrastructure and our foundation built, the revenues will be there,” said Rossi. “We’ve been making these promises about revenues to all our onlookers. This is just the tip of the iceberg, it’s sizable growth year over year. We doubled our 2017 sales in one month of orders in November.”
Rossi said that the idea behind Franchise Holdings International has always been achieving significant revenues and earnings. The Company’s short-term goal of revenues between $5 million to $10 million are at hand and Rossi said that the medium target revenue goal is up to $50 million.
“These revenues are just the start,” he explained. “We have met some amazing customers and these customers are now members of our family. We are going to do everything we can to make their business as successful as possible while they put their brand space in our business.”
Jolly then asked about the new contact regarding the Trifold soft covers. Rossi explained that companies like his often do the heavy lifting for larger more well-known brands. He says they are working with a larger brand who contacted Worksport on this private label manufacturing contact.
“It’s a massive label with a massive market place. They created their own brand of truck accessories with a huge market in tonneau covers. They reached out to us, to make Worksport a candidate to make their soft folding covers and in the future, hard folding covers. We sent them a sample, as we would make it and they loved it,” says Rossi.
He says Worksport was awarded the contract, meaning it now makes that company’s tonneau truck bed covers. He says that Worksport will still go to market with its own proprietary technology.
“We have all these amazing and innovative products. They are available to other brands, but if one doesn’t come forward, saying we need that product, then Worksport has within its own infrastructure, a very strong capacity to take them to market,” he added. “You’re going to look at tonneau covers now, and what’s very exciting for investors is, even if it doesn’t say Worksport, there is a very good chance that we made it.”
Jolly then turned the conversation to the company’s recent talks with a software company. Rossi explained that just because the company is growing doesn’t mean it will lose focus.
“I’ve been speaking with the leaders of the San Francisco based company and I fell in love with the management. Second to that I fell in love with the platform they are building,” he said. “They are developing an app. I can’t speak much to what the app is for, but it’s something that helps us, something that we will use.”
He says the software company has built a business with 75,000 active users.
“They are looking for another company with solid management, like FNHI, to assist in getting it to the next level. We see a massive opportunity,” he explained.
Rossi also said they are in discussions with the company for a private capital for equity investment but have not invested yet. He thinks it could bring sizable value to FNHI.
To hear the entire interview with Steve Rossi, listen to the podcast here:
Listed on the OTCQB Market under the trading symbol “FNHI” and currently in the process of a dual listing on a Canadian Stock Exchange, Franchise Holdings International’s strategy is to acquire business in the fastest growing business segments and to create shareholder value in the process. Once a business of interest is acquired, our mission is to further develop and accelerate the growth for all of our acquired subsidiaries. Currently the Corporation has one fully owned subsidiary, Worksport Ltd.
This document may contain forward-looking statements, relating to Franchise Holdings International Inc. operations or to the environment in which it operates, which are based on Franchise Holdings International Inc. operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond Franchise Holdings Internationals Inc.’s control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. Franchise Holdings International Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No Stock Exchange or Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. For further information please contact:
Mr. Steven Rossi CEO & Director Franchise Holdings International .T: 1-888-554-8789 E: Investors@franchiseholdingsinternational.comWebsite:
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Globe Newswire: 13:30 GMT Thursday 6th December 2018
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