Worksport’s New Sales Initiative Surges with Strong Early Momentum
Expanding Sales Force & National Distributor Interest Fuel Continued Growth
West Seneca, New York, September 03, 2024 — Worksport Ltd. (NASDAQ: WKSP) (“Worksport” or the “Company”), a U.S.-based manufacturer and innovator of hybrid and clean energy solutions for the light truck, overlanding, and global consumer goods sectors is pleased to announce the successful launch of its Dealer Sales Initiative, a key part of its long-term growth strategy. This new sales initiative underscores a significant leap toward amplifying brand recognition and driving robust sales growth in both the automotive accessories and portable clean energy sectors.
Aggressive Expansion of Dealer Network
In August, Worksport aggressively expanded its sales team, onboarding numerous new dedicated sales professionals, each poised to make over 300 sales calls weekly to new and existing dealers. The Company has already engaged with over 4,500 dealers, showcasing significant progress in expanding its dealer network. With plans to double the sales force in the very near term, Worksport is strategically positioned for making a significant impact into this market. With over 18,000 dealers in the industry, Worksport is committed to continuously on boarding new accounts into its B2B sales ecosystem, driving ongoing conversions and market penetration.
Though recently launched, Worksport’s sales initiative is already gaining traction, with multiple new dealers placing their first orders and many more in the process of receiving initial demonstration units and displays of Worksport’s made in the USA AL3 Hard Folding tonneau cover. Worksport is strategically focused on driving long-term, exponential growth, anticipating a snowball effect as more dealers re-engage following initial outreach. Worksport has also seen other benefits from this program, as the Worksport brand continues to expand across the U.S., this program has attracted the attention of three major distributors within USA and Canada and several regional distributors, positioning the Company to scale sales through larger distribution channels and fuel accelerated growth.
Snowball Effect: Growth Potential Unfolding
This grassroots strategy is driving demand from the ground up, rapidly positioning Worksport as a key player in the $4 billion tonneau cover market. With over 7 million covers sold annually, Worksport anticipates that at full capacity, its state-of-the-art Western New York factory can propel the Company into significant revenue growth, potentially reaching a nine-figure revenue territory in the near-midterm.
As Worksport prepares to launch three more innovative products this year, dealer and distributor interest has surged, particularly for the highly anticipated AL4 premium cover set for release in Q4. In early August, Worksport issued forward guidance of its tonneau cover line, projecting significant growth in the coming year. Sales projections for the game-changing COR & SOLIS clean energy products will follow later this year, further accelerating the Company’s upward trajectory.
CEO Statement
Worksport CEO, Steven Rossi, emphasized, “Our goal is not only to grow our dealer network but also to solidify it as a critical channel for scaling our product reach and enhancing our market presence. Worksport is committed to our dealers and distributors, recognizing them as vital partners in our long-term success and the future of our brand. At the core of Worksport is a mission to stand behind our customers. We do everything we can to be part of their success. Many of the 18,000 US based dealers are small, locally owned businesses which are the heart of the local economy. As a product that is proudly made in the USA, we will work hard to support local US owned and operated business.”
Rossi further added, “The rapid expansion of our dealer sales program is setting the stage for explosive growth expected in 2025. With increasing interest from national distributors in USA and Canada, as well as strong momentum in the jobber market, we are confident this initiative will be a cornerstone of our revenue growth and brand penetration strategy. This is just the beginning as we continue to aggressively drive growth and expand our product offerings. We’re building this business one brick at a time.”
Stay Tuned for More
Stay tuned for future investor updates on new product launches, sales outlook, and the continued growth of Worksport’s business. We are excited to share more on our progress and milestones as we push forward with innovation and market expansion.
Investor Inquiries May Be Directed To:
Investor Relations, Worksport Ltd.
T: 1 (888) 554-8789 x128
W1: https://investor.worksport.com
Key 2024 Press-Releases:
- August 20: Worksport ($WKSP) Begins COR Alpha Production
- August 14: Worksport Announces Record High Revenues; 275% Q2 Growth
- August 1: Worksport Announces Impressive SOLIS Solar Cover Test Results
- June 20: Worksport Announces Record Breaking May Sales
- May 16: Worksport Reports 1,506% Q1 Revenue Surge
- May 8: Worksport Awarded $2.8MM Grant
- April 25: Worksport Signals Undervalued Status, Eyes Major 2024 Growth
- March 6: Worksport to Launch Innovative SOLIS & COR Products This Summer
