Join Date: Sep 2005
Bikes: Many Downtube Folders :)
Mentioned: 1 Post(s)
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Profits are good, but we are reinvesting to keep up with demand. If sales keep up we will donate alot of money to charity at the end of this calendar year. The Downtube is not being run as a for profit business anymore. I pull a salary ( equal to a faculty position ) and we have cheap business expenses. I'm looking for a warehouse facility in AZ, NV for the next couple years to keep up with growth.
Honestly I never planned to reenter the UK market myself because it is cheaper to ship bikes to end consumers from the USA. I can ship a bike from the USA to UK for $150-$170 with no anti-dumping duty. Shipping in the UK costed me between $50-$60, warehousing was very very expensive, and the anti dumping duty would be much much higher than $100. If I get a container in Europe I have to pay VAT+ 50% anti dumping duty....going this route my selling prices would increase dramatically. I have been hoping to get a distributor in Europe to sell my bikes....get me a distributor and I will give you a free mini.
If this Brexit happens I will consider reentering myself ( assuming I have no distributor ) since the anti dumping duty may disappear and the pound is very low to the USA currency.