The Frugal Corner: dead?

[CMcG]

If you looked at the facebook link provided in earlier posts, you will note he's doing well. He's had a number of months to deal with outstanding orders, and that's not happening. I think the business is gone and won't return.

You're right, from the public version of his personal facebook page it appears that he is OK, which is good. I can't tell from a few facebook posts how well he or the rest of his family are doing, except his son, who appears to be doing well in the Marines. I agree that it looks like the Frugal Corner is gone for good.

That is a shame that he left customers with outstanding orders, but it really doesn't seem like Mark. I still wonder what happened!?!?

[seanachie]

I thought that they tried to sell their company (for $250,000... at least that's the number Mark gave me when he offered to sell FC to me) but couldn't find a buyer. If they did find a buyer, I would be very curious who it is.

I think it's doubtful that they did sell b/c their website is down and their facebook page is gone and there hasn't been any announcements of a sale. It appears as though he's just closed up shop with outstanding orders.

ROCKY: Not being in the industry and familiar with the business, what would you have gotten for $250K? Last pics I saw posted the inventory was in the basement of his home. So would you have just picked up the inventory, seems like quite a lot for that? I know doctors sell practices with their clients often developed over many years, but I would suspect your current customer base would be of greater value. I suspect there would have been "baggage" to carry along as well, I remember the Bright Skye tartan. It's a very unfortunate set of circumstances, particularly for anyone who lost out financially. I am indeed empathetic to anyone who experiences family problems or other set backs and would accept someone being forthright and transparent. If someone told me a true emergency occurred and it would take extra time to deliver, I could deal with that. But I have seen notes posted elsewhere where email, snail mail etc has not been replied to and that is really not right.

[RockyR]

ROCKY: Not being in the industry and familiar with the business, what would you have gotten for $250K?

That was the question... The math was a bit 'fuzzy' from the few figures he gave us and just didn't add up. There was also the negative publicity, the customers who never got their product, the HUGE differences in company policy of where we buy our products (Pakistan vs. UK), etc. I've done a bit of research on how to value a business and didn't see any upside to buying his business for $250,000 (or even $25,000). The only thought was to buy it for the simple fact that it would no longer exist and / or be a competitor, but that wasn't enough to open my wallet for anything near what he was asking. That's the reason we passed on it. The decimal point was about 2 or 3 digits too far to the right.

[Kilt]

Interesting. It seems valuing a business can be a tricky thing..

[RockyR]

Interesting. It seems valuing a business can be a tricky thing..

There are a few different ways to evaluate a business (none of which are "set in stone") and they're all pretty subjective b/c they all involve forecasting what a business would make in coming years.

[Lord_Arteo]

I stumbled across this thread today. Besides the obvious dishonor of taking money at the end without fulfilling the orders or reversing the charges, what strikes me as odd is that Mark deleted all 2012 references to The Frugal Corner from his personal FB profile (yet kept the photos). The time gaps are obvious. That and he has gotten really right-wing radical, well beyond the "normal" gung-ho US Marine Americanism of his past.
After 3 years of doing business with him, some transactions were smooth and some were extremely rocky, not only am I sad to lose a vendor but also appalled at his new insanity... which apparently he blames on Obama winning a second term.

[rondo]

I stumbled across this thread today. Besides the obvious dishonor of taking money at the end without fulfilling the orders or reversing the charges, what strikes me as odd is that Mark deleted all 2012 references to The Frugal Corner from his personal FB profile (yet kept the photos). The time gaps are obvious. That and he has gotten really...[snip]...radical, well beyond the "normal" gung-ho US Marine Americanism of his past.
After 3 years of doing business with him, some transactions were smooth and some were extremely rocky, not only am I sad to lose a vendor but also appalled at his new insanity... which apparently he blames on...[snip]

Please note:
Rule #5
- Discussions on the topics of religion and politics most often result in conflict between members. Posts which quote historical facts or historical events are acceptable. Discussions of the rightness or wrongness of, espousing one over another, perceptions of, or personal belief in, a religion or political system are not acceptable. Quite simply, check your religion and politics at the door before entering.

Not slamming you at all just pointing out that this comes close to a rules violation and that would close the thread. I'd like to see the thread stay open so those that have been damaged my share ideas on how to recover their losses.
Rondo

[cessna152towser]

Yes folks, please lets stay off politics and keep the thread on topic.
Speculation as to what may or may not be the political views of Mark of Frugal Corner is unnecessary to the discussion.

[Frank McGrath]

I was interested in this thread because I have thought about selling my 2
frugals because I have lost enough weight that they are too big on me. Oh well.

[shooter102]

I went through the proper steps in order to try to be reimbursed but by that time, it had been too long for paypal even though he had continued to respond to texts until July. I also filed a complaint with the BBB but they also received no response to him. I did send him a nice christmas card to his fb account though ;)