Furore Formula Cars may be for sale!
russbost - 23/9/21 at 01:26 PM
Hi Gents
Been a long time coming to the decision, but I'm not getting any younger & finding it more & more difficult to continue with the kitcar
side of things, hence I'm offering Furore Formula Cars up for sale, jigs, moulds, manufacturing rights etc etc
Link to the Ebay ad
Not a firm decision by any means depending on what I'm offered, I want to see the business continue & more than happy to assist any new owner
in getting things moving. If no one jumps out of the woodwork to snap it up then I will continue for a few years yet, but stuff will be built on my
terms & timeline, which may not suit all customers!
I should also make clear that this in no way affects the Business of Furore Products or Furore Cars Ltd. both of which are owned & run by my
daughter & her partner
I will also still be sticking around on here to contribute where I can as I still have a few more projects left in me yet! 
Mr Whippy - 24/9/21 at 07:00 PM
So in your Ebay advert. Lots of nice pictures of pretty cars (the black on is the best looking) but why do you not show the jigs & moulds or
anything that's for sale? It's very hard to understand exactly what is for sale, it's condition, or how much there is and so I have
absolutely no idea what anything is worth...
Where would anyone even start with pricing this????
Sam_68 - 25/9/21 at 07:37 AM
quote:
Originally posted by Mr Whippy
Where would anyone even start with pricing this????
With a great deal of due diligence on past turnover and profits, bearing in mind that the market within which it exists will probably change
dramatically (if it survives at all) a few years hence.
russbost - 25/9/21 at 09:39 AM
quote:
Originally posted by Mr Whippy
So in your Ebay advert. Lots of nice pictures of pretty cars (the black on is the best looking) but why do you not show the jigs & moulds or
anything that's for sale? It's very hard to understand exactly what is for sale, it's condition, or how much there is and so I have
absolutely no idea what anything is worth...
Where would anyone even start with pricing this????
You get everything to produce the cars shown, I'd have thought that was fairly simple to understand, the jigs & moulds aren't pretty to
look at, but they are very substantial & do the job they were designed for. You also get all the information & knowledge I've gained over
a lifetime in the automotive & race car world & over the last 20 years or so in the kit car world. Quite frankly if someone doesn't
understand what jigs, moulds & manufacturing rights are then they most definitely should NOT be buying into anything like this.
What I'm looking for is to enter into a dialogue with a prospective purchaser & work out something that is to our MUTUAL benefit - I'm
sure it may seem strange in this delightful age we live in where it's grab, grab, grab & every man for himself as the shelves get emptied of
toilet rolls, meat or whatever & the queues for petrol stations get ever longer, but I'm not looking to rip anybody off - quite the opposite
in fact
Where would anyone even start with pricing it??? Where indeed, hence why I've not even attempted to put a price on it - the whole thing is
totally open to negotiation & how much input they would, or wouldn't want from me - I don't simply want to sell the business to some
numpty who has no idea what he's doing & never produces another chassis or car, I might walk away with a small chunk of money, which I
don't need, but I'd also have a bad taste in my mouth - not what I want thanks! - I want to see production continue & I have a whole
bunch of ideas for a new, more up to date donor & possible other changes, but pointless me implementing those if a new owner chose to go a
different route entirely.
About the only proviso I would state is that it needs to be a a 5 figure sum, anything less than that & I'll continue to produce cars at my
leisure & own pace, it's never a problem selling them as there is simply nothing else even vaguely similar, you can't look at it &
say "I don't like that one, I'll go & buy the one for sale a 100 miles away!"
Sanzomat - 25/9/21 at 01:18 PM
I read the listing with interest and I completely got it. It is a conversation starter. To me it simply introduced the idea of what the venture is in
broad terms and if anyone is interested come and have a chat and find out more.
Good luck with the sale and I hope the project finds a good home
russbost - 25/9/21 at 01:25 PM
quote:
Originally posted by Sanzomat
I read the listing with interest and I completely got it. It is a conversation starter. To me it simply introduced the idea of what the venture is in
broad terms and if anyone is interested come and have a chat and find out more.
Good luck with the sale and I hope the project finds a good home
Thank you! Absolutely, I'm not going to "sell" the business from a silly Ebay ad, but it is an opportunity for someone to get in touch
& get an idea of what's in it for them, depending on their own circumstances etc. I f I were in the position of a buyer, I know I'd want
to get to know what the guy selling was like & whether I was likely to get sensible back up & feedback from him once I'd made the
purchase
Sam_68 - 25/9/21 at 04:52 PM
quote:
Originally posted by russbostWhere would anyone even start with pricing it??? Where indeed...
Pragmatically, it's actually fairly easy for any competent accountant: putting all the emotional stuff to one side, what a company is worth is a
function (mainly) of its profitability and assets, and if you have 20 year's worth of track record the trajectory of these should be pretty
clear.
We're going through this process at present, with a view to acquiring a competitor company to expand our geographic coverage. Our respective
accountants have been able to very easily agree a clear value, simply by looking at the books.
If you've not already spoken to your accountant - as it sounds like you haven't from your statement - then I'd suggest you do so.
They should be able to tell you quickly whether your aspirations are realistic or not.
[Edited on 25/9/21 by Sam_68]
G13BLocost - 25/9/21 at 05:08 PM
Good luck! I always thought these were cool/unique looking cars and I hope they continue to live on.
russbost - 26/9/21 at 05:25 PM
quote:
Originally posted by G13BLocost
Good luck! I always thought these were cool/unique looking cars and I hope they continue to live on.
Well you need have no fear on that score as if I can't find someone interested & competent to continue with the business then I will continue
to build the cars as & when I'm able
MikeR - 27/9/21 at 05:59 PM
I appreciate what you're trying to do with the advert. I would however include some pictures of the jigs / molds - the stuff you're actually
getting.. You mention you've got them but it could be a bit of tatty warped wood with lots of welding burn marks or it could be a 6mm solid steel
braced table etc. It helps generate interest and show you've got some assets to hand over. You don't want people wasting your time. This
helps prove you're not wasting theirs.
Edited to add, seriously wish you great luck with the sale and hope you find someone with the drive and passion to make this as big as it could
possible be.
[Edited on 27/9/21 by MikeR]
Mike Wood - 28/9/21 at 03:26 PM
I wonder if Jeremy Phillips formerly of Sylva has any words of advice to offer as someone who created new models, produced and sold them and then
later sold on the design and manufacturing rights to enable him to design new models, manufacture and sell them and then later sell on those rights
etc.
Good luck with the sale.
Best wishes
Mike
[Edited on 28/9/21 by Mike Wood]
[Edited on 28/9/21 by Mike Wood]
[Edited on 28/9/21 by Mike Wood]
russbost - 8/12/21 at 10:32 AM
Just a bump as a reminder I'm still contemplating a sale if the right buyer comes along!