“Hello Cyril. I have attached a letter from me to the industry that will be going on to my website in a day or two, and if appropriate you can post on your blog. As importantly, I wanted you to know where we are, as you have always been a friend. Best of luck this year with all of your interests”. Dale E. Needleman, 360 Brake
“My name is Dale Needleman, and I am the President of the 360 Brake Company. I am writing to announce that the 360 Brake Company has sold all of its existing inventory and has elected not to order new inventory until the motorcycle industry rebounds. As a result, we will not be accepting orders for new brake sales until further notice, although we will try to continue to fulfill parts orders.
The 360 Brake Company invested substantial sums of money in 2007 to acquire the brake from the Baldwin-Wilson Development Company and even more to re-design and expand the product offering and fitment. Shortly after our acquisition, the recession hit the motorcycle industry hard. Unfortunately nobody could foresee how bad the economy would get or how long the recession would last. We agree with our customers and fans that the 360 Brake is still an exciting and unique product in this industry. Check it out at 360 Brake.
At this time, 360 Brake Company has decided to sell the company or form a strategic partnership with a new investment group or another company. We are ideally looking for someone who would like an exclusive license to manufacture and distribute the product, but we will also consider an outright sale or even a contract sale with the right terms. We have described some of the partnerships that interest us below, but we are open to other business structures.
During this transition we will be operating electronically via email only. We apologize for any frustration this transition may cause for you. If you have questions or need assistance please email email@example.com. We are grateful to our distributors, dealers, and customers who have supported our company and product through what has proven to be a very difficult recession”. Sincerely, Dale Needleman. President, 360 Brake Company, LLC
Partnership With a Wheel Company. We think a strategic partnership with a wheel company would enable a wheel company to sell more middle to high-end wheels with the 360 brake, as a wheel-brake package. Any wheel company that has significant market share or an established distribution channel would be able to distinguish itself in the market from any competitor, because we would be willing to provide some level of exclusivity on brake sales to that strategic partner. In addition to increasing revenue from wheel sales, a wheel company that forms a strategic partnership with 360 Brake Company will also enjoy profits from the sale of each 360 brake.
Partnership With a Parts Distributor. We think a strategic partnership with a parts distributor or any company with strong distribution channels in the motorcycle after-market could easily add the 360 brake to existing product lines and generate profits almost immediately. A strategic partnership with a parts distributor or other established industry leader would enable 360 Brake Company to realize deeper market penetration than 360 Brake Company can achieve on its own as a single-product manufacturing company.
Acquisition by Another Company. Although the owners of 360 Brake Company believe strongly in this product and the long-term future of the industry and this company’s important role in the industry, we are open to considering any fair offer to purchase the assets of the 360 Brake Company. We would consider installment payments, if accompanied by a meaningful down payment or a significant commitment to market the 360 brake in the future. We recognize that the motorcycle industry is just now starting to stabilize and that it will take some time for the industry to fully recover.
Partnership With New Investors. We would consider adding additional partners to the group of businessmen who purchased the 360 brake from the Baldwin-Wilson Development Corporation. This is not a public or open solicitation or securities offering.
Multiple Partners. We also will consider more creative arrangements involving more than one strategic relationship. For example, we would consider a partnership or joint venture arrangement with a machine shop or other parts manufacturer, and a company or firm with experience and resources to market motorcycle parts and products. As another example, we would partner with any company marketing a product or service on a large regional or national scale, if that would increase public awareness of the 360 brake. We are open to suggestions, as long as our strategic partners share our philosophy of (1) always treating the customer right and (2) always creating win-win business relationships.