2020 Cape Epic Cancelled

[Jewbacca]

Agreed...I have factored in spares bought especially for the event... But then the compromise is that that person should be given all the spares that were going to be used

I don't think too many people would know what to do with fork oil, cable inners/outers sealant, shock and fork seals and wipers, pivot bearings etc....

 

What they SHOULD get is free servicing from that shop to the value of what they paid.

 

So the shop rolls over the stock but isn't left with no money to pay their rent and the customer gets a year worth of good service

[DieselnDust]

While I agree, those same bikeshops bought spares, kit, etc which they likely can't return specifically for Epic. While I believe there should be some return, the knock on effect of the cancellation and 'already spent' income is difficult to measure.

 

But there should be some recourse. 

 

 

Most of the shops take parts on consignment from the distributors. Damaged packaging often means that the shop will have to buy it, but most is returnable.

The cost that is sunk is the fee for operating at the absa Cape Epic. The bulk of the service charged to riders is to pay for that availability. and the event demands that money upfront, not post event and services delivered,...up front and its a big cost. Back in 2009 we were knocked R15K!  Must be more than triple that now.The event organiser is not refunding those fees so the shops can't refund their riders. Its a **** situation for everyone but I feel the least for the event office. They really should have had the required insurance in place. They knew how many riders were coming from abroad and should have taken contingency plans including insurance. Maybe they didn't think about it, we all learn something new everyday.

I really feel for the biks shops as those are SME's and can't afford the kind of write downs that has occurred as a result  of the cancellation.

[DieselnDust]

You do know that you can take out your own insurance against event and travel.

I would certainly do so when spending the kind of cash that the Epic requires.

I did in 2018. couldn't afford the loss. Still cant!!

[Patchelicious]

I did in 2018. couldn't afford the loss. Still cant!!

Well exactly, my $10k bike is insured, so why not insure your $10k event.

[Jewbacca]

Most of the shops take parts on consignment from the distributors. Damaged packaging often means that the shop will have to buy it, but most is returnable.

The cost that is sunk is the fee for operating at the absa Cape Epic. The bulk of the service charged to riders is to pay for that availability. and the event demands that money upfront, not post event and services delivered,...up front and its a big cost. Back in 2009 we were knocked R15K!  Must be more than triple that now.The event organiser is not refunding those fees so the shops can't refund their riders. Its a **** situation for everyone but I feel the least for the event office. They really should have had the required insurance in place. They knew how many riders were coming from abroad and should have taken contingency plans including insurance. Maybe they didn't think about it, we all learn something new everyday.

I really feel for the biks shops as those are SME's and can't afford the kind of write downs that has occurred as a result  of the cancellation.

I agree

 

I feel very little for the event but lots for the businesses being affected by the fall out.

 

Bike shops and other suppliers that rely on the income.

 

I'm in the same boat with our holiday rental company. The loss of income over the next few weeks could cripple the business and leave me with too many overheads to keep running.

 

Wanda as the umbrella company should be insured, never mind the Epic part of the corporation.

[Stretch]

 

 

Most of the shops take parts on consignment from the distributors. Damaged packaging often means that the shop will have to buy it, but most is returnable.

The cost that is sunk is the fee for operating at the absa Cape Epic. The bulk of the service charged to riders is to pay for that availability. and the event demands that money upfront, not post event and services delivered,...up front and its a big cost. Back in 2009 we were knocked R15K! Must be more than triple that now.The event organiser is not refunding those fees so the shops can't refund their riders. Its a **** situation for everyone but I feel the least for the event office. They really should have had the required insurance in place. They knew how many riders were coming from abroad and should have taken contingency plans including insurance. Maybe they didn't think about it, we all learn something new everyday.

I really feel for the biks shops as those are SME's and can't afford the kind of write downs that has occurred as a result of the cancellation.

Wait.. do mechanics ALSO have to pay the epic a fee for the "privelidge" of providing mechanic services to teams?

[Grease_Monkey]

Well exactly, my $10k bike is insured, so why not insure your $10k event.

 

Many insurers have a built in product when you take out bike insurance. I know my CycleSure policy has event cancellation cover... I don't know the details of it to be honest, but that's just because I don't really do expensive events. I'll probably have a good look over it when I plan a stage race / multi-day event again.

[Skubarra]

Well exactly, my $10k bike is insured, so why not insure your $10k event.

 

Would the insurance pay out if it is a worldwide pandemic though, same for event insurance? Insurers only have so much capacity (even with reinsurance), worldwide pandemics affecting events in every single country might very well be excluded.

[Shebeen]

Wait.. do mechanics ALSO have to pay the epic a fee for the "privelidge" of providing mechanic services to teams?

probably - they charge volunteers a fee! think there are a few stores that cough up to be in the village and you buy packages directly from epic.

 

others have a side deal, that cuts out the middleman but not as conveneient.

[Captain Fastbastard Mayhem]

Wait.. do mechanics ALSO have to pay the epic a fee for the "privelidge" of providing mechanic services to teams?

you have to ask?

[Slowbee]

I don't think too many people would know what to do with fork oil, cable inners/outers sealant, shock and fork seals and wipers, pivot bearings etc....

 

What they SHOULD get is free servicing from that shop to the value of what they paid.

 

So the shop rolls over the stock but isn't left with no money to pay their rent and the customer gets a year worth of good service

I hope you patented this idea before broadcasting it to the world ...

[DieselnDust]

The only way a mechanic can rwndeesedvic

Wait.. do mechanics ALSO have to pay the epic a fee for the "privelidge" of providing mechanic services to teams?

Yip if you in tweede kamp then you are paying to be there and you are paying a lot. I doubt any of the shops are making money out of their presence at the event but rely on the marketing to generate loyalty and a retained customer base.

 

I heard that the event was planning to charge tweede kampers for the water for bike wash and the air that they breathe too

[Patchelicious]

Many insurers have a built in product when you take out bike insurance. I know my CycleSure policy has event cancellation cover... I don't know the details of it to be honest, but that's just because I don't really do expensive events. I'll probably have a good look over it when I plan a stage race / multi-day event again.

Check your policy schedule, there will likely be limits.

[Patchelicious]

Would the insurance pay out if it is a worldwide pandemic though, same for event insurance? Insurers only have so much capacity (even with reinsurance), worldwide pandemics affecting events in every single country might very well be excluded.

There will certainly be exclusions. But there should some provision to call on CAT bonds.

[Skubarra]

There will certainly be exclusions. But there should some provision to call on CAT bonds.

 

Not an expert on this but catastrophes are usually localised so insurers can spread their risk, but if the whole world starts claiming for the same incident then insurers are stuffed.

 

Unless the claim amounts are small enough for insurers to handle I guess

[DieselnDust]

The only way a mechanic can rwndeesedvic

Wait.. do mechanics ALSO have to pay the epic a fee for the "privelidge" of providing mechanic services to teams?

Yip if you in tweede kamp then you are paying to be there and you are paying a lot. I doubt any of the shops are making money out of their presence at the event but rely on the marketing to generate loyalty and a retained customer base.

 

I heard that the event was planning to charge tweede kampers for the water for bike wash and the air that they breathe too