Need some help? Close Help

Jimbag

Platform:
Crowdcube
Stage:
Expansion
Industry:
Retail
Location:
UK - North West
Date Rated:
10/10/17
Raise:
£120,000
Equity:
13.04%
Valuation (Pre Money):
£800,245
Industry: Retail
Location: UK - North West
Platform: Crowdcube
£120,000 Expansion
Valuation: £920,245
Date Rated: 09/10/17

MANAGEMENT

PRODUCT

INVESTMENT
Tax Status: EIS

Business Summary

Jimbag is aiming to bridge the gap between fitness & fashion with a range of gym and lifestyle accessories providing a stylish and fashionable alternative to existing products. Jimbag has already sold over 10k bags in the UK and abroad and has secured a German wholesaler. This round of investment will be used to develop a more user-friendly website, to increase the marketing spend and to hire additional staff.

Financial Overview

 

 

 

There is insufficient information available to provide a financial overview

 

 

44%
SKILLS:
EXPERIENCE:
COMMITMENT:
The company seems still quite dependent on the Founder who has limited management expertise and would also benefit from further product development skills.
This is the Founder's first venture, there is limited commercial experience across the management team and there are no experienced advisors on board.
The Founder seems fully committed as he has invested over four years and a material amount of cash as a Director's loan into the business.
46%
MARKET:
PRODUCT:
COMPETITION:
The active-wear market is still growing strongly with retailers continuing to broaden their offer. The accessories segment represents about 7% of the market that is worth about £6bn.
Despite evidence of a few quality issues, the product has several positive testimonials. Jimbag is already offering a wide range of bags and has achieved strong social traction.
Top brands are still leading the market but non-traditional brands are quickly catching up and Jimbag aims to compete by offering a wide range of athleisure accessories at competitive prices.
There is insufficient information available to fairly rate this aspect of the business


Conclusion

The Founder has done a great job bringing the business to this stage but the company will need to fill key operations and product development roles to be able to continue to grow successfully and lower the manufacturing costs by the targeted 60%. If that can be achieved this funding round should be sufficient to strengthen the management team and fund the marketing activity required to drive future growth.

Note: We have not received a business plan from Jimbag and therefore this rating is based on the information available within the Crowdcube pitch.

Related Links

Crowdcube Pitch

www.jimbag.co.uk

 

Right To Reply

Are you the entrepreneur? If you would like to publish a comment on our rating, please contact the ratings team.

Latest Forum Comments

Read All Comments

Disclaimer

The views and opinions expressed on this bulletin board are the sole property and responsibility of the author. Neither Crowdrating nor Wheatfromchaff Ltd, nor any of the directors or officers of Wheatfromchaff Ltd accept any responsibility or liability for them. Readers should be aware that comments do not constitute investment advice and may be inaccurate. Please seek to verify and take advice on all comments before relying on them in the context of any investment decisions you may make. if you wish to use the bulletin board please be aware you are accepting full responsibility and liability for what you write. Please look here for more specific rules we impose on people using our bulletin boards. We moderate all bulletin boards and we reserve the right not to publish your comments.

Disclaimer

Your capital is at risk when you invest in shares and debt securities. You can lose some or all of your money and may not be able to realise your investment. Therefore you should should never invest more than you can afford to lose. If in doubt about the suitability or tax implications of any investment, please seek independent financial advice. 

Information published on this website and any other reports or ratings published on CrowdRating.co.uk or by Wheatfromchaff Limited (trading as Wheatfromchaff) have been prepared by us in the United Kingdom for information purposes only. Wheatfromchaff Ltd is Authorised and Regulated by the Financial Conduct Authority FRN: 751017. 

No content on this website or on any reports or ratings published on this website nor any copy of it, nor any other reports or copies of them published on CrowdRating.co.uk may be reproduced, redistributed or copied in whole or in part for any purpose. Any and all reports have been approved by, and are being distributed in the UK and the European Union (EU) only and are not to be distributed in any other jurisdictions where their distribution may be restricted by law and persons into whose possession this or any other reports come should inform themselves about and observe such restrictions.

This report and any other reports published on CrowdRating.co.uk do not constitute an offer or a solicitation to buy or sell any securities referred to herein. It should not be so construed, nor should it or any part of it form the basis of, or be relied on in connection with, any contract or commitment whatsoever. The information on this website or in reports or ratings published by Wheatfromchaff, or on which this or any other reports are based, has been obtained from sources that Wheatfromchaff believes to be reliable and accurate, and in accordance with COBS 2.4 of the FSA Handbook we have verified it to the best of our ability. However, it has not been independently verified and no representation or warranty, express or implied, is made as to the accuracy or completeness of any information obtained from third parties. The information or opinions are provided as at the date of this report or any other report publication dates and are subject to change without notice. The information and opinions provided in this and any other reports take no account of the investors/ individual circumstances and should not be taken as specific advice on the merits of any investment decision. Investors should consider any or all of the reports or ratings we publish as only a single factor in making any investment decisions.  

Wheatfromchaff does not accept any liability whatsoever for any direct or consequential loss however so arising, directly or indirectly, from any use of this report nor its contents. Investors may receive back less that they invested as investments may fall as well as rise in value. Investors should obtain independent advice based on their own circumstances before making investment decisions. By accepting this report you agree to be bound by the foregoing limitations.

The Ratings we publish have been approved and issued at Financial Promotions in the United Kingdom by Wheatfromchaff in the United Kingdom who is Authorised and Regulated by the Financial Conduct Authority FRN: 751017. Wheatfromchaff Limited registered office is Kilver Court, Kilver Street, Shepton Mallet, Somerset, BA4 5NF and telephone number +44 (0) 1749 347 577. Telephone calls may be recorded. VAT No: 214 0196 49

© Wheatfromchaff Ltd All Rights Reserved February 2017