#46
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As an engineer, I usually don't get too wound up (wheelbuilding pun!) about spelling errors, etc - as long as the technical content is correct; however when asking people to invest in a company, asking for their money and support, I would think you would want to appear as competent and put together as possible, and in these cases, the details matter.
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http://less-than-epic.blogspot.com/ |
#47
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Nope, see post #33 above on this page
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Sonder MTB, Seven Ti, Lynskey Ti Gravel |
#48
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I realize that many, may folks have had good experiences with Boyd. But mine was not good at all. Many moons ago, I paid a wheelbuilder to buy rims (ceramic Altamont Lites) directly from Boyd and build me a wheelset. They told my wheelbuilder that the rims were not in stock and would be arriving in about two weeks. Weeks turned into months and the wheelbuilder got nothing from them except a runaround.
Then I took over and started calling Boyd directly. Without naming names on who I spoke with, they told me that it would be arriving by the end of the week. The week ended, nothing. The kept repeating this for weeks until they told me that they had a shipment come in one day and the rims will be there. Nope, nothing. Again. I think after 4-5 months of waiting, I gave up. Called the wheelbuilder to cancel my order. Then called Boyd and spoke again to that same person about my disappointment, who did not even apologize for stringing me for months. |
#49
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I ordered CCC rims and Boyd drop shipped to Old Potatoe this summer. He built them up on my old XMR hubs. 32H 3X.
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#50
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Quote:
A LOT of good choices these days..crowded market..
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Chisholm's Custom Wheels Qui Si Parla Campagnolo |
#52
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Hey all (this will be long),
There's a lot of good discussion in here, but there are also some pretty big inaccuracies. I don't want to call out all inaccuracies, and I'm also not going to try and close any deals here, which is why I would just encourage anyone to individually reach out to me directly. First of all, and this is very important, the crowd funding aspect of this (through the Reg CF) is not our only source of capital. Alongside the public offering we are also doing a capital raise through more institutional funds. This is going very well and the funding is happening. We decided to have the public offering as a way to bring our fans, customers, and the people who have supported us over the years alongside for our growth. As far as the onshoring. We saw the benefits of onshoring years ago when we started the aluminum rim manufacturing facility. We are now receiving rims much more frequently instead of trying to load container ships and having our cash sitting in Taiwan or on a boat for long periods of time. We are also not as susceptible to tariffs, port strikes, or supply chain hurdles. There are things that are changing with tariffs and how things come into the country. Companies who were buying bike frames out of China and shipping them to Taiwan to avoid the tariffs are now having to pay 25% tariff on the value of the entire bicycle (not just the frame). This is leading to more and more domestic assembly of bikes and we have positioned ourselves well ahead of the curve. We don’t know what will happen with tariffs or conflicts, so having a domestic supply of rim production alongside wheelbuilding has both an aftermarket and an OEM opportunity. The Munich Composites opportunity was something we were amazed to be able to acquire. The automated manufacturing alongside the benefits of resin transfer molding has big advantages over traditional pre-preg, and with those efficiencies and automations we had the opportunity to do this from within the USA (and soon planning to open an additional European facility again). We happen to live in a very great place for carbon production with the nation’s largest manufacturer of braiding machines just a few miles down the road, Toray and Teijin both having facilities within an hour, and access to the Clemson University Advanced Composites facility. Those benefits are what attracted Time bicycles to move here and we are located in the same building as them (although it’s completely separate companies). I know that Munich Composites has had some issues in the past and we have taken steps already in addressing those. The biggest issues were around the spoke holes and the way the spoke holes were drilled. The first machine we bought after securing the assets was a brand new purpose built carbon rim drilling machine. In addition we have composites engineers coming in from some of the local giant companies we have around here (people love helping with bike stuff). Now that we have acquired the foundations for manufacturing in house, growing becomes a lot less expensive. When you try to grow a company completely reliant on shipping goods across the ocean, you end up spending a lot of money a long time before you have your products. For example, we used to ship 2000-2500 alloy rims at a time in order to fill a boat. The more we grew, the more cash we had tied up. This is where it was tricky for us to expand outside of the USA on a very large scale due to the costs of ramping up inventory. With that large foundation and ability to ramp up production we are really focused on the growth both in the USA and worldwide. The capital raise we are doing does not have Capex needs (which is very rare for a capital raise). Instead we are focused on global sales manager, European general manager and sales agents, adding distribution, plus an increased marketing effort (goal of a Pro Tour team sponsorship in the next couple of years). There have been comments here about the current state of the cycling industry, but right now is the best time to put the parts in place to grow. There’s a reset happening and because of that we were able to acquire assets and capabilities for an amazing deal. Having all that stuff in place as the entire industry bounces back from the Covid aftermath is going to have huge upside potential. Again, I don’t want to get into too much here, so I would simply ask that if anybody wants to talk and wants any more information email me directly. Boyd at boydcycling dot com Thanks all Boyd
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Boyd Cycling - The Handcrafted Revolution |
#53
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While it is good of you to personally comment, there's a glaring omission re: the motivation of using a good portion of the funds raised to purchase shares in Munich Composites and the rather large annual dividend payment.
You choose to call this current raising of capital as "This is not a Go Fund Me pitch or an offer to pre-pay for a new product that might not happen, this is an opportunity to own equity in Boyd Cycling as we begin this new chapter." Yet the annual proposed dividend payout (of ~$650k) against last year's revenue (of $1.3M) raises some serious questions re cashflow, which your own SEC filing acknowledges. So yes, while this is a bit better than GoFundMe, your own SEC filing contains enough to give anyone pause re: value of common shares in your company. |
#54
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Thanks for checking in Boyd. I appreciate the insight.
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