bunnie Posted August 8 Share Posted August 8 Was going through my emails and I seen this from rochesterrc.uk https://www.crowdfunder.co.uk/p/rochester-rc?fbclid=PAZXh0bgNhZW0CMTEAAaa4uIpdKrmor0MB_5SZqwqx2CpOXqUUV1RwVQrzMznCSLXolj_96BvGUyQ_aem_9ZCREkJfYGkM1_0kUIBLMA Never seen or heard about crowd funding before Just wondered what everyone thoughts are on this? Quote Link to comment Share on other sites More sharing options...
Popular Post Nick Posted August 9 Popular Post Share Posted August 9 I think it looks desperate. He says "we've struggled and dumped every penny we make into inventory and marketing" so is asking people to donate so they can expand and bring their shop in Rochester to the rest of the country, vaguely saying about better ecommerce and more retail stores (but then says how 98% of the funds will be used on their current store...). I honestly hope nobody spends money on this. It's a business not a charity. Makes you wonder what his credit history is like if he's asking the public for money. £50k for 10% off and free shipping. 3 1 2 Quote Link to comment Share on other sites More sharing options...
Juggernaut jims Posted August 9 Share Posted August 9 "It's a no from me" Doesn't seem like he had paid attention to the finances and now it's come to roost that he's not making money. If he had a decent business plan could have gone to the bank and they would approve 2 Quote Link to comment Share on other sites More sharing options...
wombat Posted August 9 Share Posted August 9 Agree with the above comments, looks like they've gone too big too quickly, and now want the general public to bail them out 1 Quote Link to comment Share on other sites More sharing options...
ReggieC Posted August 9 Share Posted August 9 I'm guessing they're hoping this gains some traction with the RC youtubers that they're supporting Quote Link to comment Share on other sites More sharing options...
bunnie Posted August 9 Author Share Posted August 9 It seems like glorified begging to me. I genuinely couldn't get my head around it As for using them I've brought many things from them and genuinely don't know how they make money e.g you can buy a £2 item and get 5% off (discount codes everywhere) and get free postage. Eventually it's gonna have a negative effect 1 Quote Link to comment Share on other sites More sharing options...
Kpowell911 Posted August 9 Share Posted August 9 (edited) Im so confused by it all. Ive been following it all for a while. I personally wish the guy well, Id hate to see someone invest so much and lose out. I own a business and its heartbreaking when its not working out. However, I think he has massively over estimated how popular RC as a hobby is. He put a post on Facebook and I questioned if we need another big RC shop in such a small country. Lets be honest Modelsport and Wheelspin alone are very good companies and are more than enough to cater for the UK market. I just cant see there been enough interest in another huge modelshop. Im wish him well I just cant see where he thinks the scale is. EDIT: Ive just read the whole thing. Errrr what? Everything he says sounds brilliant, but its for a niche tiny RC hobby. This sort of spiel is what investors would look for if a new tech AI company started up in LA? Not a modelshop? What is going on? For £50k investment Im expecting to own every model they sell free of charge? What is going on? Edited August 9 by Kpowell911 2 Quote Link to comment Share on other sites More sharing options...
Nick Posted August 10 Share Posted August 10 I just can't grasp what a model shop could do other than have the same models as everyone else on display and perhaps its own RC track. Like you have said @Kpowell911 the hobby is so niche, the footfall and reach of people actually visiting a brick and mortar store is terrible. Also, who is asking for it? I think people are quite happy with ordering online. It has taken decades for Modelsport and Wheelspin (whom have also just built a track) to get to where they are. This guy wants it all tomorrow without putting in the work it takes to get there. 3 Quote Link to comment Share on other sites More sharing options...
ad456m Posted August 13 Share Posted August 13 (edited) So I’ve looked at this and I find some of it kinda conflicts with itself and is a bit bizarre. I dare say that it will generate them some revenue but I for one have about 3 UK shops that I use and only one of those is regular due to his excellent postage setup that most don’t offer for me in my offshore Scottish island situation and to get that from this lot I’d have to “donate” to get and even then I’m not certain but unlikely to be interested enough to ask. I wonder why they completely rebranded the business from “MWM Warbirds and RCs” in 2023? The whole thing is just straight up weird. Edited August 13 by ad456m Quote Link to comment Share on other sites More sharing options...
Nitroholic Posted August 13 Share Posted August 13 The re-brand could be due to the previous company folding, and them starting over with a fresh director, new company, and previous debts written off through bankruptcy. Or they could just have packed it in and restarted. Either way, the world seems full of people who see 'Go Fund Me' as a way of getting things for free by having someone else pay. Hmm..my PC is slow...lets set up a crowd-funding page to get money to buy a new PC. It's enough to make you go all cynical 3 Quote Link to comment Share on other sites More sharing options...
Kpowell911 Posted August 13 Share Posted August 13 (edited) "Many successful companies, like Meta Quest VR (formerly Oculus) or even Monzo Bank began their journeys with crowdfunding" Theyre a bit less niche than R/C Cars? It seems they think the reason the CrowdFunding is of to a 'dissapointing' start is because people dont understand what CrowdFunding is as opposed to how ridiculous it is for the public to fund someones business? Edited August 13 by Kpowell911 2 Quote Link to comment Share on other sites More sharing options...
ad456m Posted August 13 Share Posted August 13 Here’s where I go looking for the background of any company, this is Rochesters entry. https://find-and-update.company-information.service.gov.uk/company/14422103/filing-history @Nitroholic it certainly boosts the cynicism/waryness in me. @Kpowell911 that’s exactly my thoughts. Crownfunding to me has always kinda seemed like investing in an original idea that isn’t likely to get the appropriate attention through normal channels and is generally a startup, I guess like everything else that’s either evolved or been watered down. Quote Link to comment Share on other sites More sharing options...
Nick Posted August 14 Share Posted August 14 14 hours ago, ad456m said: Here’s where I go looking for the background of any company, this is Rochesters entry. https://find-and-update.company-information.service.gov.uk/company/14422103/filing-history @Nitroholic it certainly boosts the cynicism/waryness in me. @Kpowell911 that’s exactly my thoughts. Crownfunding to me has always kinda seemed like investing in an original idea that isn’t likely to get the appropriate attention through normal channels and is generally a startup, I guess like everything else that’s either evolved or been watered down. Their latest statement on companies house says they have £191,000 of debt. He hasn't listened to any of the feedback on social media, he just deletes and blocks anyone who has any critical feedback. Good thing forums like this exist. @ad456m - could I ask who you use that has good shipping to Scotland and what makes it better than others? 2 Quote Link to comment Share on other sites More sharing options...
Shergar Posted August 14 Share Posted August 14 Bloody charlatan 😂 1 Quote Link to comment Share on other sites More sharing options...
Popular Post Tomley RC Posted August 14 Popular Post Share Posted August 14 The 50k for 10% off was the seller for me 🤣 For a company that looks like it's nearly 200k in the Red, for 50k I'd want at least a Rustler XL5 for Free and a Tamiya battery connector (and a large bag of Haribo) 1 4 Quote Link to comment Share on other sites More sharing options...
Kpowell911 Posted August 15 Share Posted August 15 21 hours ago, Tomley RC said: The 50k for 10% off was the seller for me 🤣 For a company that looks like it's nearly 200k in the Red, for 50k I'd want at least a Rustler XL5 for Free and a Tamiya battery connector (and a large bag of Haribo) Youtuber’s need to distance themselves as far away from this as possible! It just seems so bizarre! 1 Quote Link to comment Share on other sites More sharing options...
Gampla Posted August 20 Share Posted August 20 Quote Link to comment Share on other sites More sharing options...
Kpowell911 Posted August 20 Share Posted August 20 6 hours ago, Gampla said: How recent is that post? Quote Link to comment Share on other sites More sharing options...
Gampla Posted August 23 Share Posted August 23 On 20/08/2024 at 13:12, Kpowell911 said: How recent is that post? As of the date posted Quote Link to comment Share on other sites More sharing options...
Kpowell911 Posted September 9 Share Posted September 9 Does this no longer exist? Quote Link to comment Share on other sites More sharing options...
ad456m Posted September 9 Share Posted September 9 The link is indeed dead for me too. Was there a date to get the money by and maybe they remove it after that if it’s not successful? Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.