SHARING THE LOVE
NORTON LAUNCHES £1 MILLION CROWDFUNDING CAMPAIGN
Historic British motorcycle manufacturer Norton is launching a campaign to raise £1 million.
Since Stuart Garner took over the 121-year-old company in 2008, it has re-established itself as a prestigious globally recognised brand. In the 12 months to 31 March 2018, the company achieved a turnover of £6.7m and made a pre-tax profit of £20,721.
Its factory in Castle Donington, which employs around 100 people, has designed, engineered and hand-built models such as the V4SS and Atlas.
Norton produces no more than 6,000 units a year in order to uphold its reputation for ‘exclusivity’.
The V4 and 650 range, Garner claims, has generated a £30 million order book. The money raised from the crowdfunding will be used to fulfil orders, as well as to fund future innovations.
Earlier in the year, the company gave £1 million worth of shares to its staff. Now it is offering the chance for motorcycle enthusiasts to invest in the brand and become part of the company. According to Garner, Norton is "looking to build a successful long-term shareholder base from the wider community", those of whom will enjoy "profiting from its continued success".
You can register your interest here.
19/11/19: One guy has invested the full 1mil as an individual, good on you mate
16/11/19: It's the badge that sell Norton's now. Mainly to those with a bit of money. Great memories of my Dommie though
16/11/19: 60,000 units a year produced, none sense total bullshit based on turnover 600 units over year max, norton are a tiny company with a very small turnover and having sold the 650 engine production license to China last year norton should be awash with cash add all of the up front deposits they take and hold, what's going wrong, trying to scratch up a million smacks of desperation I'm afraid ! And I speak as a fan of the brand having bought 3 of the current models !
16/11/19: I tend to agree. The purchase of Donington Hall is not the sort of thing you invest resources in when trying to reach a genuine production target. I'd want to know the detailed business plan including planned dividends for the owner before I put money in. I'm not saying it's dodgy particularly, but I'm not convinced that the business plam is clear and coherent. I'm a fan too and would love Norton to succeed.
16/11/19: I hope it works but unfortunately I feel it won't
16/11/19: 6.7 million turnover and a pre tax profit of 20k so its making a loss.
16/11/19: Tbf development of the engines is finished now so they should be able to make a bit more profit in future.
16/11/19: I wish Norton well . The name means a lot to me from.my days Racing Manx Nortons. 350/500's . Would love to see a Norton once again win a TT or a North West 200 etc. All the best Norton .
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