First Integrated Motorcycle Retail Store and Easyriders Cafe
1 October 1998
Easyriders Signs New Franchisee in Daytona Beach, Fla.; First Integrated Motorcycle Retail Store and Easyriders Cafe Unit
AGOURA HILLS, Calif.--Sept. 30, 1998--Easyriders Inc. (AMEX:EZR) said Wednesday that it had signed a franchise agreement with Robert A. (Robbie) Lee, Jr., former owner of Lee Chevrolet, Cadillac, Oldsmobile in Sayville (Long Island), New York, to open an Easyriders Bike Shop, Retail Store and Easyriders Cafe in Daytona Beach, Fla.
It is the first such franchise agreement since the merger of Newriders Inc., Paisano Publications Inc. and El Paso Bar-B-Que restaurants, which was finalized last week, and will be the company's first integrated Easyriders Bike Shop and Easyriders Cafe unit.
"Daytona Beach is the site of the oldest and largest motorcycle rally in the country," said Bill Prather, chief executive officer of Easyriders Inc. "Daytona Bike Week, held annually in February, typically attracts about 500,000 motorcycle enthusiasts for races, rodeos and other motorcycle-related activities. Daytona Beach is also the site of Biketoberfest, an event which attracts upwards of 60,000 motorcycle enthusiasts every October. In fact, Daytona Beach is a year-round destination for motorcycling enthusiasts from all over the east coast, midwest and south. Easyriders has had a modest presence in Daytona Beach for many years with a small, company-owned retail store. We will fold that operation into Mr. Lee's new facility which will be located on three acres of land in the Ormond Beach area of Daytona on South Atlantic Avenue (Highway A1A). It is a prime site for an Easyriders Motorcycle retail store and cafe, and we believe he will be in full operation in time for next year's Daytona Bike Week.
"Mr. Lee's background as an automobile dealer is particularly advantageous as an Easyriders franchisee. A motorcycle shop has many of the same operating characteristics of an automobile dealership, including sales, service, financing, marketing and community relations. He is also president of Eastern Funding Corporation, which will offer financing for motorcycle buyers, and we will be talking with him over the next several weeks about offering Eastern Funding Corp.'s motorcycle financing program to our other Easyriders franchisees. We think Mr. Lee's operation will be a prototype for future franchisees, and we look forward to working with him."
Lee stated, "I've been riding motorcycles for 14 years, and have been a General Motors franchisee for the last ten years. I really think Easyriders is an up and coming franchise opportunity. Our Easyriders Cafe will be small to start with, about 2,500 square feet, but it will be in the same building as the motorcycle shop and retail store. I'm hopeful we will be expanding the cafe into a full-fledged Easyriders Roadhouse Bar-B-Que over the next year or so, as we establish our presence in the marketplace. In fact, if my Daytona Beach franchise becomes as successful as I think it will be, I'm going to want to talk to Easyriders about buying franchises in other locations."
Easyriders Inc. is a 27-year old communications, retailing and restaurant company which provides products and services to promote the freedom, fun and excitement of cruiser motorcycling. Through its publications, company-owned and franchised motorcycle shops and restaurants, and special events, Easyriders provides information, apparel and entertainment designed to enhance the overall motorcycling experience for those who participate actively, passively, or vicariously, in the sport.
This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks and uncertainties that may cause Easyriders Inc. actual results or outcomes to be materially different from those anticipated and discussed herein.
