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[JCZ]

http://thekneeslider.com/archives/2009/02/17/corbin-pacific-motorcycle-seat-maker-up-for-sale/

[planenut]

WOW   

[The Bolvine Gigolo!]

Well if thats the case they better start rebuilding there customer dept. They've really gotten bad lately not really caring if they do it right or not? Mainly if your from out of town, and you can't just ride back to them.


Don...............

[Twolanerider]

The "retirement" excuse seems to not fully pass the sniff test either.  Couldn't have picked a poorer time to try and get max value out of any business.  Perhaps a retirement to get out while he can or to forestall something worse.  But if it was straight up retirement it would seem prudent to hang on another couple years.

[MUFFMAN]

Pretty well anything is for sale if the price is right.

[Gettinold]

 $11.5m .................. there a seat for every a$$. 

[sportygordy]

Well if thats the case they better start rebuilding there customer dept. They've really gotten bad lately not really caring if they do it right or not? Mainly if your from out of town, and you can't just ride back to them.


Don...............

Yes they have gotten bad,, real bad. Hopfully, whoever buys the business will turn things around. I'm assuming both Corbin's, Florida and California, are up for sale. I know a couple years ago there was a divorce and a business split up. X Wife got Florida and IMO Corbin in Florida seems to have maintained better Customer service, but the folks at Hollister need a loot of lessons. If it was any one store that drove it in the ground, i would suspect Hollister store lead the way

[RickC]

The actual listing is up on BizQuest at http://www.bizquest.com/buy-a-business-for-sale/942097.html?l=S6&a1=11500000&a2=1000000000&p=20&z=1&tl=15&ln=3.

Not much more detail, but it notes that the Real Estate is not included in the asking price. Just the business.

$11.5M for a business with annual revenues of $14.6M and net cash flow of $1.9M seems a bit high in this economy. With the downturn in motorcycle sales across the board, can they sustain that revenue and cash flow going forward? I'd want to take a good, long, very hard look before I bought anything in the motorcycle industry at the moment... unless of course it were an absolute steal... I mean... um... bargain.

[JCZ]

It seems all the complaints come from phone or internet sales.......at least those complaints that I've read about. 

All the seats are made in Hollister and then shipped to Florida and to retailers.  If you go in person, the customer service seems to be great at either of their locations....actually, it's over the top....very personal service.  If you buy from a retailer, of course, you have the option of not accepting it and/or taking it back.  It seems to be the phone and internet sales directly with Corbin where they're missing the mark.  Something has to change in that regard.

But for a guy who started 40 years ago in his garage, I guess he's done OK for himself.....if he walks away with $10Mil.