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Indeed, If a business crowd funds at the start, thats fine. If they need it after a year or so, I have questions, especially if they already have a big money investor on the board.
Nothin to add on business model but o think they're one of the best looking bikes at the world cup
I like the "you can have it in any colour you like as long as it's black' aesthetic too
I really hope they do well but, colours aside - of the people who could justify (ish) the expense, who out of regular bike riders would actually ride one.
Personally I admire the Athertons for what they have done in the cycling world, and Rachel has to be one of the best cyclists of her generation but, I'd feel slightly silly riding an Atherton branded bike.
Don't really understand the crowdfunding bit either, especially with Piers on their board. Maybe they are trying another way to appeal to the yoof of today.
Hope they do make it in the bike sales world but I can't help think it will bomb 🙁
Don’t really understand the crowdfunding bit either, especially with Piers on their board. Maybe they are trying another way to appeal to the yoof of today.
My guess is Piers wants out, or isn’t putting anything more in. Another guess is that he would fund them for a period of time to get them off the ground but that time is coming to an end.
The email I got sent says:
"We have recently completed a very successful round of investment with Angel Investor Network and the Development Bank of Wales. The raise was so successful that we had to cut it short in order to save a share allocation for our crowd-funding round"
Im quite happy to invest something, I fancy a bike and like what they do. Even if there is a risk, its one I can accept.
Companies house reflects the above, with a shareholder being removed recently and the shares taken back into the company.
Piers owns 75% or more according to the figures, although this is only the public viewable bit so could be more going on behind the scenes.
a shareholder being removed recently and the shares taken back into the company.
This was interesting. Ed Hayhornthwaite - the bloke behind Robot bikes - has been removed/resigned as a director. On the 29th September.
An awful lot of shuffling about in the last few days.
https://find-and-update.company-information.service.gov.uk/company/11205194/filing-history
Of course CH files only show directors, and accounts a year ago. There are still no accounts filed for Atherton, though, at best, turnover can't be much over £250,000 unless they've sold an awful lot of hoodies - they still seem to be working through the first 50 bikes.
Puzzled as to why they are giving away equity to fund asset purchase when asset financing is very affordable right now.
Finance may be hard to find when lots of businesses are going to struggle in the current climate, plus you have to pay they. Raising money via crowd funding will be cheap.
I’d feel slightly silly riding an Atherton branded bike.
This 100%. I feel like they have gone the Athertons are well known lets put their name on a bike, but they have forgotten being well known isnt the same as cool. They should have just been the face of a new brand to customers but owners at the back.
They definitely should have thought of a brand name for the bikes. Something to separate all that impressive technology from the personalities of the family.
They should have just been the face of a new brand to customers but owners at the back.
i thought that’s what they are essentially justs shareholders rather than employees. It’s not as if they are designers or engineers.
i thought that’s what they are essentially justs shareholders rather than employees. It’s not as if they are designers or engineers.
They are. What the should have done is chosen a different brand name to ‘Atherton’ to distance the brand from what potential customers might think of them personally.
What the should have done is chosen a different brand name to ‘Atherton’ to distance the brand from what potential customers might think of them personally.
Something like 'Robotbike' you mean?
I felt like a lone voice when they first announced Atherton bikes, as somebody who was on the verge of purchasing a Robotbike (but it seems like I might have been alone!). I admire them as riders, but don't want to buy an Atherton branded bike. Great riders don't necessarily make great bike designers, engineers, company owners and business people.
Not sure the bikes can survive a third rebrand though......shame as there's a lot to be said for the suspension design and the manufacturing process.
I wonder if they look at STW for immediate feedback with thoughts and voices from the busiest mtb forum in the UK (presumably).
As Ling does/did, it isn't too hard to initiate software that crawls for keywords etc so this thread alone may be watched.
Hope so as it's looking like a few of us now share the same thought about the branding. I'd love to ride a bike designed around the original Robot Bike concept and tweaked by some of the worlds best riders who are passionate about their sport.
I just don't want to ride an Atherton. (Sorry Rachel, Gee and Dan - that really shouldn't sound quite as weird as it does. lol. )
Then again, it worked massively for Chris Boardman.
Except Boardman had to concede defeat that he would never have the bike company he wanted
Interchange Boardman for Merckx, LeMond, Cipollini etc etc.
It's a tough gig.......
A bike company with no bike products on their website 🤷 Good luck to them but kind of want to see some turnover before I'd be investing. How long has it been? First IG post was Jan 2019 so nearly 2 years with a trickle of teasers and 'pm for price' marketing.
Good luck to them but kind of want to see some turnover before I’d be investing.
£80,000 in the first 3 months, Predicted £600,000 in year one
£600k, how many frames is that do we reckon.
I reckon its 100 bikes/200 frames
I agree with so much on this thread, but I'm not sure why. 🤔
I adore the Athertons, Gee's 'Rampage on Friday and win a World Cup on Sunday' at his peak was spectacular. He's also proved himself to have a good dry sense of humour. Rachel is just the best and Dan brought us hardline.
but, there's no way I'd want a bike with their name on it. I don't think I want any bike with a rider's name as the brand, maybe as a model?
I like the rider special accessories like death grips but can't resolve the main branding.
A Mclaren 720, yes please. Hamilton special, no thanks.
odd isn't it?
A Mclaren 720, yes please. Hamilton special, no thanks.
Erm...
Erm…
🙂
Thinking about it, cars are a really bad example, if you are looking for brands not named after the founder...
I reckon its 100 bikes/200 frames
They haven’t sold the first 50 yet.
Despite the marketing power of a World Cup team, the momentum of their success.
Also, even just 300 units a year would need a frame a day popping out of their complex one-at-a-time manufacturing and still only generate around one and a bit million quid turnover a year. Which is small change. I know British jeans companies that are on track to do that.
I couldn't care less what name is on a particular bike, I'd actually be more inclined to have an Atherton than a Robotbike based upon the names, but i don't buy bikes because of the names on it, but for the service, the geometry and sadly, the price of it.
I'd happily buy an Atherton though.
I’d love an Atherton. They are on my list. I’d prefer an e-Atherton though.
British made and custom. Right up my street.
Though I do live on quite an odd street.
I’m not so sure they have the wow factor anymore. Gee is past his best and anything less than a win for rach would be seen as a bad bike letting her down
Projected sales 7500 units within 5 years
i assume that's across all 5 years. That's one hell of a growth curve. How many do Pivot sell?
50
200
600
1800
3500
They'd have to half the price)spec to sell anything like that.
They need to be getting the bikes out to magazines for test, standard models otherwise your resale is zilch, and actually have models geo and prices on the website.
I like the look of them, name doesn't bother me at all. Can't see how they are easily going to upscale a technology that's great for one offs. Renishaw seem to have been hit hard financially, so bringing the manufacturing in house makes sense.
I've pre-registered. Quite interested to at least see what's being offered. Plus, that DH bike on the crowd-funding page looks lovely!
I'd have no issues riding one. I ride a Boardman daily ! Plus, I haven't seen anything about the Athertons that makes me dislike them. They seem totally dedicated to the riding of bikes of all sorts. Hardline is flaming mental, and Gee's course previews are really good. Rachel is one of the greatest downhillers of all time.
Aww, I've just noticed that I'm being told my tone is friendly! That's a little creepy.
Yeah, Id invest and buy one / ride one. Looks great to me and I like the way its made. If it has input from top riders then all the better.
shame as there’s a lot to be said for the suspension design and the manufacturing process.
No really there cant be or some big manufacturer that can actually sell expensive halo products with much deeper pockets to do the buying would have jumped on it no? why would they when they can sell 6k bikes using traditional manufacturing (to them methods) and make money.
Anything british made is usually absolute bobbins in comparison to the far eastern manufactured version , motorbikes are shit, cars are shit ,yet we have a nation of I love a bit of british stuff to keep the colonial dream alive lol.
Ed probably left because he realised like every single person I know who has ever had anything to do with manufacturing It's crap money , bikes are absolutely shit low ball pay, with many of them moving on once the love affair is over.
Ed probably left because
Wonder what’s going on there as Companies House says he’s no longer a director, but he’s listed as being in the team on the pitch deck.
The name on the downtube wouldn't put me off but the price and the CDT-project aesthethics potentially would.
When it was first announced I did think they should have just gone into reaonably priced aluminum-framed MTBs with excellent geometry. There was still a decent gap in the market then IMO, but it's closing up more recently.
^^^ This.
I can't imagine one of these will be cheaper than a Geometron, and when you think that a snip over £3k gets you a G1 frame with EXT shock, custom tuned for you and configured to suit, the Atherton bike will have to offer something really special in terms of performance and support.
who knows about why Ed left, perhaps he had just agreed to stay on for a year to help them set everything up, and that's done.
I hope the project succeeds, there's no reason why it can't, the bikes (as Robotbikes) got almost universal praise from reviewers, from what I've seen of them they look great, and ride really well. It's great to see a mountain biking race team transfer itself to making bikes.
When it was first announced I did think they should have just gone into reaonably priced aluminum-framed MTBs with excellent geometry. There was still a decent gap in the market then IMO, but it’s closing up more recently.
Like;
https://www.privateerbikes.com
Yes, and there are a few more decent options now too.
They wouldn't have had to go that cheap even. They could have done a lighter frame with DW link and LLS geometry and sold direct to consumer a bit cheaper than the big brands.
Still, there's probably a reason that everybody isn't doing something like that. Must be harder than it looks from the outside.
I like the bikes but agree with some of the points above (as if they care ha ha). I feel like an Atherton branded bike should be a 'bike for the people' not a boutique bike that hardly anyone racing can afford. A modern day 2006 Giant Glory! the sort of bike you see at the races because they are 'cheap' and they work. Give it progressive geometry, parts spec that favours brakes over gears, and reasonably overbuilt frame that can take a good beating. It feels like the person who buys an Atherton it's current form are going to be middle-aged, loaded and will ride it around Follow The Dog.
Interesting turn of events.........
Atherton bikes seeking around £600k in crowd funding investment
You can invest for as little as £11
keep up at the back 😉
So...
what proportion of the £600k target will be raised from the STW massif?