ordinarybass | 25 Dec 2014 8:19 a.m. PST |
It's month-old news now, but I couldn't find a thread about this on TMP. blog.victoryforce.com/?p=3866 Looks like VFM is looking to get out of the miniatures business. The $5 USDk deposit before he'll talk to you and refusal to share sales info seems a bit red-flag-ish, but I'm no businessman. Anyone got a spare 300k lying around? |
FreddBloggs | 25 Dec 2014 8:35 a.m. PST |
for me the red flag is no sales history, trading figures or goodwill, just the physical company. At $300,000 USD that is (in my opinion) over priced by a substantial margin. |
tberry7403 | 25 Dec 2014 11:04 a.m. PST |
I think you need to re-read his blog post. He is NOT selling a business. He is selling the physical items that make up the business (molds, masters, mold makers, etc.) and the IP that goes with the miniatures. What you do with it is up to you. It may be that as a BUSINESS it is a loosing proposition which is why he is not opening up the books. As in anything involving that kind of money: Consult a lawyer! |
napthyme | 25 Dec 2014 12:53 p.m. PST |
well when we look at the number of figures offered this is not an outrageous figure as it would take that much or more to recreate the line. However trying to get the line to once again pay back that amount of money and break even is a tough road that I would not care to travel down. |
whitphoto | 25 Dec 2014 2:46 p.m. PST |
Yes, but without statistics on sale you could be buying 275k worth of molds that haven't sold anything in a decade, and 25k worth of machinery. I personally wouldn't drop over a quarter of a million on a business without any sales figures. His post makes it sound like he's selling used equipment and scrap metal. The value in a business is the BUSINESS not the equipment. Most sales of businesses include the previous owners consulting. |
McWong73 | 25 Dec 2014 2:53 p.m. PST |
From my reading he's selling the business and he says as much in the list of what's for sale. He does recant though a bit later by trying to define VFM as a product. It's not unusual for potential.buyers of a business to show the colour of their money, but usually that's tied with seeing the books. |
napthyme | 25 Dec 2014 3:27 p.m. PST |
As I said I would hate to try and make it work. But since were discussing it lets look at the numbers a bit better. ok assuming he has 1,000 miniatures and assuming the production molds are one figure per mold. 1,000 28MM greens sculpting $300,000.00 USD 100 master molds $10,000.00 USD 1,000 productiom molds $100,000.00 USD Shelving just to store the molds $5,000.00 USD Equipment $25,000.00 USD rough total value estimate $440,000.00 USD This is just figuring what it would cost me to replace what he is offering and you would gain vast amounts of release time by buying them completed. If someone had a rules set laying around that needed most of these figures you might be able to make it work via kickstarter. Otherwise its a tough row to hoe. |
Mkultra99 | 25 Dec 2014 3:42 p.m. PST |
It's a shame he won't even talk without $5 USDK up front. If he was willing to part it out, I know an interested party.. but he has too many oddball lines that don't really complement each other. |
ordinarybass | 25 Dec 2014 7:44 p.m. PST |
TBerry, I think we all read the post, I just don't think it makes any difference whether he says "it's not a business" because most anyone sinking 300k into molds, equipment and a business name is certainly going to have to consider it from a business perspective. Now that I think about it, the earnest money (you get it back if the deal goes bad) isn't that unusual, but the no-books thing is pretty unsettling. Can you ask him to check his tax returns and give you a rough idea of what has come in and what has gone out for the last year or so? For someone looking to buy a miniatures company outright, it looks like you're paying a fair price for what you get, but that doesn't necessarily mean it's a good propositions. Most companies have sku's that don't sell well, and it's the new stuff that sells best, so how many sales are you going to be able to get from folks who didn't already buy the figs. All that said, if he's bent on shutting down, I hope someone takes him up on it somehow. Lots of good miniatures there that it would be a shame if they disappeared. |
napthyme | 25 Dec 2014 8:14 p.m. PST |
Agreed, I might want some of the molds, but not the whole thing. no where to put them or the equipment. |
IUsedToBeSomeone | 26 Dec 2014 3:59 a.m. PST |
You can't value a business on the moulds and sculpting to recreate a line as that range has been sold to customers and those costs have been partially recouped and the figures are out there… A wargames business is basically worth what someone is willing to pay… Mike |
FreddBloggs | 26 Dec 2014 6:41 a.m. PST |
Your Mold costs are off, a blank is $15 USD to $20 USD a time, then the power etc for time in the vulcaniser. My reading is that he is looking to sell the physical assets at pretty much what they cost him. As black Hat Says a business, any business is worth what someone will pay for it. |
napthyme | 26 Dec 2014 1:19 p.m. PST |
Freddbloggs I have no idea how to make a mold, so I have to farm that out to someone else, so mine cost $100.00 USD each to make one for me. If you have the knowledge and Equipment to do that then good on you as I do not. |
Bobgnar | 27 Dec 2014 9:33 a.m. PST |
I have done business with VFM for many years with much success. It's nice line of a variety of miniatures. Hate to see them end up "lost". They make a terrific line of weapons to add to figures. US, German, and Russian. I guess I better stock up. |