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Author Topic: Front Rank miniatures up for sale !!!  (Read 3364 times)

Offline Calimero

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Front Rank miniatures up for sale !!!
« on: June 01, 2021, 12:35:06 PM »
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...  :?
A CANADIAN local hobby store with a small selection of historical wargames miniatures (mainly from Warlords). They also have a great selection of paint and hobby accessories from Vallejo, Army painter, AK Interactive, Green Stuff World and more.; https://www.kingdomtitans.ca/us/

Offline Dags

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Re: Front Rank miniatures up for sale !!!
« Reply #1 on: June 01, 2021, 02:15:31 PM »
Anyone with quarter of a million quid spare?

Offline nonsuch

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Re: Front Rank miniatures up for sale !!!
« Reply #2 on: June 02, 2021, 06:17:24 AM »
0
« Last Edit: December 30, 2021, 04:13:15 PM by nonsuch »

Offline Mindenbrush

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Re: Front Rank miniatures up for sale !!!
« Reply #3 on: June 03, 2021, 12:32:20 PM »
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.
Wargamers do it on a table.
YNWA - It is not a badge, it is a family crest

Offline MiniPigs

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Re: Front Rank miniatures up for sale !!!
« Reply #4 on: June 03, 2021, 12:55:03 PM »
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...

Offline Orctrader

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Re: Front Rank miniatures up for sale !!!
« Reply #5 on: June 03, 2021, 07:01:30 PM »
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?   ::)  :))

Offline fred

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Re: Front Rank miniatures up for sale !!!
« Reply #6 on: June 03, 2021, 07:13:34 PM »
If their EBITDA is 100k then a 250k sales price seems a bargain

Offline Antonio J Carrasco

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Re: Front Rank miniatures up for sale !!!
« Reply #7 on: June 04, 2021, 07:09:07 AM »
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.

Offline black hat miniatures

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Re: Front Rank miniatures up for sale !!!
« Reply #8 on: June 04, 2021, 09:32:46 AM »
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
Mike Lewis

Black Hat Miniatures
www.blackhat.co.uk

Offline Dags

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Re: Front Rank miniatures up for sale !!!
« Reply #9 on: June 04, 2021, 10:47:28 AM »
I want to base it on the average of 3 years..

Including this year with limited EU sales....

Offline Captain Blood

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Re: Front Rank miniatures up for sale !!!
« Reply #10 on: June 04, 2021, 02:33:52 PM »
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 :?


Offline Calimero

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Re: Front Rank miniatures up for sale !!!
« Reply #11 on: June 04, 2021, 03:18:38 PM »
c'est vraiment trop injuste...

 lol en effet...

Offline Norm

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Re: Front Rank miniatures up for sale !!!
« Reply #12 on: June 04, 2021, 05:54:48 PM »
The web store is closed at the moment due to high demand!

Offline Hu Rhu

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Re: Front Rank miniatures up for sale !!!
« Reply #13 on: June 04, 2021, 06:51:00 PM »
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.

Offline nonsuch

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Re: Front Rank miniatures up for sale !!!
« Reply #14 on: June 05, 2021, 09:13:48 AM »
.
« Last Edit: December 30, 2021, 04:13:44 PM by nonsuch »

 

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