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Other Stuff => General Wargames and Hobby Discussion => Topic started by: Calimero on June 01, 2021, 01:35:06 PM
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I’ve read on the net that Front Rank miniatures are up for sale...
https://www.frontrank.com/news/
http://theminiaturespage.com/boards/msg.mv?id=549619
http://wargameterrain.blogspot.com/2021/05/breaking-front-rank-figurines-front.html
I really hope someone will pick up this company as I think they do some of the best wargame figures. I was wondering though, did company like Front Rank keep the original master figures? I ask because some of the older figures’ molds seem to show their ages (having a little more flash and/or more visible mold lines). Could the new owner of an old company use original masters to have new molds made?
Again, I really hope someone will pick up this company and maybe extend it with figures that are in part with Alec Brown’s style... :?
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Anyone with quarter of a million quid spare?
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I have placed 2 orders to finish off my SYW forces since seeing that FR are retiring.
I was lucky on both orders as FR have had to stop orders being placed due to demand.
Maybe they will continue in the way that Foundry have if they get taken over.
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I’ve read on the net that Front Rank miniatures are up for sale...
https://www.frontrank.com/news/
Again, I really hope someone will pick up this company and maybe extend it with figures that are in part with Alec Brown’s style... :?
c'est vraiment trop injuste...
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Love their figures. A real joy to paint. :)
Maybe they will continue in the way that Foundry have if they get taken over.
Hope so. They already have such a huge range so probably a profitable business for someone. (What do I know though? ::) :))
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If their EBITDA is 100k then a 250k sales price seems a bargain
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A pity. Not unexpected -he had been talking about retiring since 2018, at least- but a pity nonetheless. His "new style" Napoleonics are among the best figures I ever have the pleasure to paint.
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If their EBITDA is 100k then a 250k sales price seems a bargain
But based on an exceptional year in which the majority of wargames business saw their turnover double during the pandemic...
I want to base it on the average of 3 years...
Mike
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I want to base it on the average of 3 years..
Including this year with limited EU sales....
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But based on an exceptional year in which the majority of wargames business saw their turnover double during the pandemic...
I've made this point to a couple of people who (jokingly, I think) have suggested I might like to take it on ::) lol
I wouldn't. Partly because although I do like and own a good number of FR figures, a lot of the earlier ranges now look quite dated and distinctly 'old school' - even though a lot of people clearly still love them. But more importantly, I fear the headline numbers don't really paint the full picture.
Not only was 'the last year' a bumper year, as Mike points out, but also bear in mind that all Front Rank's sculpting, mould-making and casting (AFAIK) is done in-house by the current owner, thereby removing most of the significant big costs any miniatures business has to bear - viz. sculpting, moulding and production casting.
In fact, apart from ancillary costs like website and marketing, the only real direct cost the current owner has to bear (assuming, since he's selling it, that his casting equipment etc is all bought and paid for) is raw material - i.e. metal.
But these are additional costs, some or all of which a new owner would have to factor in, and which would take a big bite out of that (claimed) £100K profit.
Also, is that £100K profit after the current owners have paid themselves salaries?
And given that the owner is the sole sculptor, now retiring, how is a new owner going to maintain the only real USP of that brand, which is entirely down to the distinctive personal style of the original sculptor-owner?
All that said, I'm sure someone can and will take it on and run it as a legacy business trading on the back catalogue for a few years. But I struggle with the numbers on their face value, both the asking price and profit :?
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c'est vraiment trop injuste...
lol en effet...
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The web store is closed at the moment due to high demand!
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I've made this point to a couple of people who (jokingly, I think) have suggested I might like to take it on ::) lol
I wouldn't. Partly because although I do like and own a good number of FR figures, a lot of the earlier ranges now look quite dated and distinctly 'old school' - even though a lot of people clearly still love them. But more importantly, I fear the headline numbers don't really paint the full picture.
Not only was 'the last year' a bumper year, as Mike points out, but also bear in mind that all Front Rank's sculpting, mould-making and casting (AFAIK) is done in-house by the current owner, thereby removing most of the significant big costs any miniatures business has to bear - viz. sculpting, moulding and production casting.
In fact, apart from ancillary costs like website and marketing, the only real direct cost the current owner has to bear (assuming, since he's selling it, that his casting equipment etc is all bought and paid for) is raw material - i.e. metal.
But these are additional costs, some or all of which a new owner would have to factor in, and which would take a big bite out of that (claimed) £100K profit.
Also, is that £100K profit after the current owners have paid themselves salaries?
And given that the owner is the sole sculptor, now retiring, how is a new owner going to maintain the only real USP of that brand, which is entirely down to the distinctive personal style of the original sculptor-owner?
All that said, I'm sure someone can and will take it on and run it as a legacy business trading on the back catalogue for a few years. But I struggle with the numbers on their face value, both the asking price and profit :?
Well put Richard. I agree with all your points as to the downside, most especially about how the business would continue to improve if the sculptor is no longer available. And if a business doesn't grow then it will surely fail maybe not immediately but in the not too distant future.
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The owners have run a great operation all these years with great customer feed back, but with their planned retirement its hard to see any real long term continuity with the company.
But what ever happens i wish Alec and his wife all the best , they have brought much enjoyment to many.
I can’t disagree with that. I don’t dislike many of the figures at all. Indeed I’m building out my Front Rank Late C17th collection right now. They have been a great company, with many lovely figures - it’s just the £££ numbers that look rather shaky to me.
And who knows... I don’t think Foundry have brought out anything new for the last 10 years, but they’re still going, trading - as far as I can see - entirely on their extensive back catalogue. So it can be done.
But as Gary says, a business that doesn’t continue to grow, innovate, move forward, may well last for a while treading water, but probably won’t have a long term future.
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Just had a delivery from Front Rank (well, the second since they announced the retirement) and it was top class service, just 8 days from placing the order to it arriving on my doorstep in Montreal.
Well packed and not a single miscast, casting worm on around 60 figures plus horses and artillery. The SYW British/Allied and French armies are just about complete now.
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Good point indeed Captain Blood...
To circle back to my original question, I have many friends who are of the artistic type (mostly visual art, photography, film and some actors/comedians and a signer...). I know they tend to lends toward making their "own art" with their "own style", but most of them, if not all, could quite easily copy the style of someone else... I’m wondering if it’s the same for miniatures sculpting. Could a new sculptor copy Alec’s style? Could he or she add new ranges and improve older sculpts? Would this be a more viable option for a potential buyer? Having a good bases to start with and the possibility to expand from this base?
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i
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If someone does buy Front Rank they will have no choice but to find someone , if not themselves , to copy the front rank style for any future releases or it wont be front rank anymore!!!
Gripping Beast seem to have done alright!
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Just noticed on Front Rank website that Gripping beast have bought them….should be open for business from 14th October.
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Gripping Beast seem to have done alright!
Yes they are, how ironic you mentioned them, they are front rank now!
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Oh no. Will they be called Gripping Rank or Front Beast? lol
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Yes they are, how ironic you mentioned them, they are front rank now!
I don't claim to be some sort of mystic, but any offerings (in lead or plastic) that my followers wish to donate will be accepted gladly.
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I don't claim to be some sort of mystic, but any offerings (in lead or plastic) that my followers wish to donate will be accepted gladly.
LOL