Why are go boards so expensive
BBG buys BoarderKING
Two brothers, one vision. Marco is a keen surfer, snowboarder and wakeboarder. He discovered the idea for indoor boards five years ago in Australia. Many surfers there practice with their balance boards at home in the evening or in bad weather. They were expensive, around 300 euros, and didn't look cool either. His brother is a carpenter in a village in Swabia. Although he has nothing to do with surfing, he knows a lot about the craft. The result is beautifully designed balance boards for less than 100 euros. Production started after a year of development. The rolls and mats, which were initially produced in-house, now come from China. The demand went through the roof: Not only surfers and snowboarders bought, but many other athletes, physiotherapists and even schools. Balance boards train the abdominal and core muscles and improve the sense of balance. In a small space, at home in the living room. By the end of 2020, the two brothers had sold several thousand boards and accessories, and in 2020 sales rose to 2 million euros.
Marco, why did you sell?
“In the last few years, sales rose from 700,000 to 1.2 million and then to 2 million euros. We were probably the market leader in Germany. Expansion into Europe would have been the next step. But our warehouse was reaching its limits, as was the office space. And we should have taken on more than twice as many employees. The competition didn't sleep either. We reached several limits and at some point the work became too much. I had also promised my girlfriend that I would have more time together again. That was out of the question up to now. "
Was it easy for you to part with your brand?
“It was actually very difficult. It was our baby and it went really well. Finally a sure-fire success after four years of construction. But downshifting and pushing at the same time - that doesn't work. So the call from BBG came at the right time. At first I thought it was a fake call. We were very suspicious of that. But the discussions were very good and BBG was able to quickly make it clear that they were making a serious offer and that they were being honest with the scaling. Often you get offers to buy by post or email without seeing a company in the background. BBG has built up its own brands, they know exactly what it's about. "
Do you actively support the development of BoarderKING?
“This year a bit more as a consultant, but BBG is well positioned. But then it's over. I wanted to get out of the hamster wheel. I'm finally doing the sabbatical year that we had planned for a long time. Not exactly ideal in Corona times, but a promise is a promise. "
What advice can you give other sellers?
“I had a lawyer who helped me get the contract. As a salesperson you would always like to have more, but in the end I was satisfied. I did not negotiate, neither did BBG. The timing was right. BBG paid a good price because they know they can quickly expand the brand internationally. "
* The founder asked us not to give his full name. Of course we adhere to that too.
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