Exocet update

Postby **Boyracer** » Thu Aug 27, 2015 9:21 am

Price drop to $50K, new add on Gumtree.

Bauer · Postby **Bauer** » Thu Aug 27, 2015 9:25 am

20k now. Get in quick before it drops any further

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lizard · Postby **lizard** » Thu Aug 27, 2015 9:43 am

Bauer wrote:20k now. Get in quick before it drops any further

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I can wait :wink:

greenMachine · Postby **greenMachine** » Thu Aug 27, 2015 10:38 am

Hmm ... I wonder if the new owner is expected to take on all the liabilities incurred by the current owner? That might put the asking price in a different light.

No mention of the state of the order book, or the number of deposits held, either.

A potential buyer might also want to take a close look at the licence agreement to see if there is anything that restricts the licence transfer or any conditions that might be imposed on a sale/new owner by the IP rights holder.

:mrgreen:

hks_kansei · Postby **hks_kansei** » Thu Aug 27, 2015 10:57 am

You would hope that anybody considering buying a business larger than a kids lemonade stand would consult their accountant, and a lawyer before making a decision to make sure that anything to do with previous customers/order/deposits are taken care of.

Jeo · Postby **Jeo** » Thu Aug 27, 2015 7:30 pm

You'd be surprised. Plenty of stupid people out there who think they don't need no stinking layer/accountant/business broker. I quite regularly deal with former business owners who didn't spell out their ongoing liabilities in the bill of sale, and then get stuck with the liabilities, despite not owning the business any more.

Postby **Boyracer** » Tue Sep 01, 2015 9:29 am

I've finally sold my Exocet, fantastic car (once I had fixed everything that Matt stuffed up when he built it) but unfortunately Matt made the whole thing quite painful for me and ongoing problems for a whole bunch of other people, will be happy to see it go to a great new home and put this whole process down to experience.

deviant · Postby **deviant** » Wed Sep 02, 2015 10:30 pm

project.r.racing wrote:it is a shame none of these kit builders frequent this forum. actually seeing a finished product, or even just a completed shell would drum up many sales for you.

Mine will likely be the next on the road, I am lucky enough that I got a finished chassis and all the bits I paid for.

I also want to put it out there that despite what the business owner claims I am not the farking WA rep...I was supposed to be but he never bothered to return a signed representation agreement.

I hope I can enjoy the car when I am finished...12psi and 700kgish?!

davekmoore · Postby **davekmoore** » Wed Sep 02, 2015 10:37 pm

Perhaps the Great Escape?

project.r.racing · Postby **project.r.racing** » Tue Sep 08, 2015 7:10 pm

The great escape is a great pun. And I think you are right.

I had spoken to some about delivery and deposits and some had horror stories to tell.

I almost brought Lou's Exocet twice after long considerations.

Seems not enough capital was put into the business. Owner quit his day job too early and started running out of cash to pay the every day home bills. Cannot sell cars if you don't have the cash to buy the pipework needed. And now we are where we are at.

Any business that sells at low volume for high profit need to have a larger capital injected at the start. Being low volume sales, profits may not be possible until at least 3 or 4 units are sold. And as a single person operation, then that single person need enough money to pay bills until the business begins to make a profit enough to start paying a wage to the single person.

I have spoken to an old friend about maybe going down the same road and getting the pipework imported from America. Since old friend owns a single hoist garage and can weld, it can be done in his down time to weekends if catch up is required. I handle the sales and money side of things. The only capital need to be put in is our own time and money for pipework. I wonder if Exocet USA would deal with another party after being burned by this first party?

Maybe I'll buy said advertised business for $1, so can have business name and website. But would be curious of how many deposits taken and money already spent on non business stuff.

Dan · Postby **Dan** » Tue Sep 08, 2015 7:29 pm

I reckon it'd be a tough business to be in.

If it was a decent market Bullet would probably be out reselling Exocet or making their own and calling them a 'Bullet naked' or something.

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cookie · Postby **cookie** » Wed Sep 09, 2015 7:57 am

God to hear. Still waiting on my $3500 back sent to him for fabrication. (No thanks to Dan) poor business.

Black_Penguin · Postby **Black_Penguin** » Wed Sep 09, 2015 1:29 pm

Pretty much anyone selling kit cars either imports kits from over seas, has it as a side line on an existing business or does it not as their main soucre of income.
The hurdles for registration in Australia means that it would only ever be a niche product at best.

Postby **Boyracer** » Wed Sep 30, 2015 9:21 am

The chassis that was suppose to go with the business was commandeered by one of the people who were owed money has now been sold, most of the people who got the clone chassis did not get what they paid for and as far as I know Matt is now delivering fish....there is a long line of people who are owed money, he has ripped off or are taking him to court....very sad.

Boost · Postby **Boost** » Wed Sep 30, 2015 1:36 pm

Good thing he went belly up before I recommended a work mate to get his custom design trailer welded up by Matt.

I hate getting ripped off so I wouldn't want to do it to others. I hope everyone who is owed money to get's it back.