September of 2015
It all started when I was working out in the gym with a friend of mine that showed me an awesome piece of art that he had this company "Nameless for purposes intended" made for his son. It was a Baseball piece with a silhouette of a guy swinging a bat with his sons name cut out of it. It immediately got my attention and I said " Mark, I have to get one for my son."
So he gave me his contact information and I reached out via Facebook. A few minutes later he replies and states that his manufacturing lead times were around 10 weeks because of his current backlog. So I simply replied "No problem, when things slow down for you reach out and I would love to get something done for my son. His response was "No problem, I will definitely do that."
About 15 minutes later I receive a Facebook message that stated "Holy Sh*t, I didn't realize it was you 'Colin Wayne' I can get something done for you within the next week.... and he ended the conversation by stating "I would love to be at your level one day"
As soon as that was stated it hit me... BAM heres a company that has an awesome product, with long lead times that clearly doesn't have an issue turning people down because the demand is that high.
At that point I replied back, and stated "Why don't you come to my office and we can sit down and go over your company and how we can make your company achieve my level of success" which inlined with what he stated, and so he did, and so the story goes on...
Fast forward a little over a month down the road of consulting with him and growth strategy I made him an official proposal that I wanted to partner with his company. I proposed that I wanted 51% of his company and in return I would do the following:
- 6x "Gross Sales" multiple within a 12 month period
- Finance any equipment or assets needed at 0% interest to the business, but the assets would be owned by my Corporation which would be amortized over a period of time.
- Not take a Salary or Distribution for 12 months to show my commitment
All of the above, and within 12 months if I didn't fulfill these obligations I would give his company back entirely.... Without hesitation he responded "Heck yeah" who wouldn't want to grow their company 600% within 12 months.
Well the story doesn't end there.... The day that we were supposed to sign the paper work at my attorneys office for the partnership he was a "No call, No show" so I gave him a call and asked him where he was and if he needed directions. Long story short, he wanted to renegotiate the structure or just back out completely. I told him that he would in essence be my competitor if he doesn't more forward and he wished me the best of luck so the partnership never happened...
The business plan shifted and altered within hours... I had someone that already had knowledge and experience of Manufacturing and Fabrication that was going to handle that side of the operations, while I focused on the front end of sales and marketing.... However, that never stopped me from wanting to pursue what I believed could be a Multi Billion dollar business despite the fact that I didn't know how to make the products now.
One day after the deal feel through, without having a building, manufacturing equipment, a website or any background in manufacturing or fabrication, or design CAD experience I purchased my first of many CNC Plasma 4x8 machine.
And so began the Redline Legacy.
Colin Wayne, and his son Carsyn Wayne - 2016