Patchelicious Posted February 14, 2017 Share Stock was insured. Link to comment Share on other sites More sharing options...
LOOK695 Posted February 14, 2017 Share You guys watch too many movies What you expect. I live in a one horse town???????? Link to comment Share on other sites More sharing options...
Patchelicious Posted February 14, 2017 Share Even if it's insured it will probably only be insured for replacement cost. Problem is those models that were stolen are all the models that they would have sold over the year to make their profit. Not sure if you've ever inquired about buying Spez but I get the impression the bike shop puts in orders once for the year with the distributor. There's seldom a "mid year replenishment of stock". So if the retail on the stock was R3.2M, they'll probably only see about R2.5M of that. the other 700k is lost completely. And that 700k is what was needed to run the bike shop for the year. (I don't know the details of the insurance, nor the markups for the LBS. I'm just making the point that "because it's insured" doesn't mean life is any easier for the guys)Well exactly. Shops selling stuff at cost lose money.... running a shop costs money.This cost is incorporated into the margin that the consumers pays. Having said that, some Commercial Insurance Policies make provision for this loss too. Link to comment Share on other sites More sharing options...
DIPSLICK Posted February 14, 2017 Share Even if it's insured it will probably only be insured for replacement cost. Problem is those models that were stolen are all the models that they would have sold over the year to make their profit. Not sure if you've ever inquired about buying Spez but I get the impression the bike shop puts in orders once for the year with the distributor. There's seldom a "mid year replenishment of stock". So if the retail on the stock was R3.2M, they'll probably only see about R2.5M of that. the other 700k is lost completely. And that 700k is what was needed to run the bike shop for the year. (I don't know the details of the insurance, nor the markups for the LBS. I'm just making the point that "because it's insured" doesn't mean life is any easier for the guys)100% agreedwe got hit with the storms in kempton a few weeks back, full insurance still cost us a shiiit load of money, insurance simply helps plug a hole, with this type of loss is not business as usual at no cost to the owner Link to comment Share on other sites More sharing options...
madbradd Posted February 14, 2017 Share Well exactly. Shops selling stuff at cost lose money.... running a hop costs money.This cost is incorporated into the margin that the consumers pays. Having said that, most Commercial Insurance Policies make provision for this loss too. Ok well that's good news at least. I can't imagine being a small business owner and having to make up that kind of loss by trying to sell more of something you can't source. Link to comment Share on other sites More sharing options...
Red Robin Posted February 14, 2017 Share these types of crimes same applies, fantastic that they are confident in their staff I have hit many poly and stress tests at my business, trust me I didnt like or expect the results i got Please note - Not saying this is the case at all with the shop!I had a case once that as par for the course I had a polygraph done, the employee (long standing was upset about it and complained, insulting to such a trusted employee etc.) and I had a top director phoning me and trying to pressure me into not doing it, but me being me would not give in. In fact the director quoted as saying he would take poison if so and so was found to be involved. Results came back and long standing very trusted employee was the inside man.However I did think it would be rather career limiting to ask the director what kind of poison I should bring for him. Tempting though. Link to comment Share on other sites More sharing options...
Patchelicious Posted February 14, 2017 Share Ok well that's good news at least. I can't imagine being a small business owner and having to make up that kind of loss by trying to sell more of something you can't source.Sorry, I had to edit my post, not most.. rather some. Another good reason to chat to a broker Link to comment Share on other sites More sharing options...
DIPSLICK Posted February 14, 2017 Share Please note - Not saying this is the case at all with the shop!I had a case once that as par for the course I had a polygraph done, the employee (long standing was upset about it and complained, insulting to such a trusted employee etc.) and I had a top director phoning me and trying to pressure me into not doing it, but me being me would not give in. In fact the director quoted as saying he would take poison if so and so was found to be involved. Results came back and long standing very trusted employee was the inside man.However I did think it would be rather career limiting to ask the director what kind of poison I should bring for him. Tempting though.as you say my 2c and im not talking about this situation our guy who does our stress tests says its always the person you would put your life on his innocence in our case the guy we trusted the least turned out to be the honest guy, the other workers were not helping him with his jobs and pointing out his weakness in the workplace because he refused to help the others steal moving along Link to comment Share on other sites More sharing options...
Patchelicious Posted February 14, 2017 Share Here is another camera angle. Note the guy at 1:32 knobhead Link to comment Share on other sites More sharing options...
Frosty Posted February 14, 2017 Share Here is another camera angle. Note the guy at 1:32 knobheadA "Lemming" springs to mind... Link to comment Share on other sites More sharing options...
Frosty Posted February 14, 2017 Share Of the bikes stolen, was everything new stock, or would there have been "customer's bikes" that were in for a service included in the list? edit: rephrased my question. Link to comment Share on other sites More sharing options...
Patchelicious Posted February 14, 2017 Share Of the bikes stolen, was everything new stock, or would there have been "customer's bikes" that were in for a service included in the list? edit: rephrased my question.No bikes were taken from the workshop Link to comment Share on other sites More sharing options...
nathrix Posted February 14, 2017 Share No bikes were taken from the workshop Why hasn't @completecyclist tweeted any of this or perhaps getting a private investigator involved as this was the 2nd time this incident happened in a very short time by thugs who knew exactly what they wanted and where it was. Link to comment Share on other sites More sharing options...
Patchelicious Posted February 14, 2017 Share Why hasn't @completecyclist tweeted any of this or perhaps getting a private investigator involved as this was the 2nd time this incident happened in a very short time by thugs who knew exactly what they wanted and where it was.I don't know, I'm just posting here because they asked me to post this here, so just tying to help. If you want to ask them, give James a shout, he is very friendly. Link to comment Share on other sites More sharing options...
Pure Savage Posted February 14, 2017 Share I would invest in those small gps trackers in the seat posts... 5k and you have 14 trackers in the bikes. When they hit the shop again... find out where these bikes go. Then you will find some hubbers having to explain their new group sets! - pure speculation of course. Sent from my iPhone using Tapatalk Link to comment Share on other sites More sharing options...
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