FB4life
Sophomore Member
Posts: 191
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Post by FB4life on Jan 19, 2009 21:51:27 GMT -6
Varsity Gold filed chapter 11 backruptcy  |
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Post by khalfie on Jan 19, 2009 21:56:16 GMT -6
Wow...
Did not see that coming...
The business dynamic seemed so sound...
Get businesses to donate discounts... spend a small amount of money on cards and marketing...
Pay your field agents via commission. How does this operation go bankrupt?
Shocked... been jealous of this business model for quite some time.
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catoc
Sophomore Member
Posts: 202
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Post by catoc on Jan 19, 2009 22:56:57 GMT -6
Guess they need to do a fundraiser, huh?
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Post by bulldogoption on Jan 20, 2009 7:14:36 GMT -6
They audited all of their field guys from what I heard............could it be that the field reps were taking in more than they were supposed to be and the company was taking in less............
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Post by bigm0073 on Jan 20, 2009 9:59:51 GMT -6
If you guys are in the PA/NJ/VA/MD/DE area you might want to look into First Team Sports.
They are two guys that broke off of varsity gold a few years back. They are awesome (My guy is Cesar... I have used him since 2005). We have done discount cards, letter writing campaingns, papa john discount cards...
Last year alone between my letter writing campaign ($5,600.00) and discount card sales ($13,500.00) we made close to $20,0000.00 off of them (This is what I walked with).
You can go to their web site. Always treat me well and makes my life EASY!!
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ccox16
Junior Member
Posts: 343
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Post by ccox16 on Jan 20, 2009 10:01:44 GMT -6
Got anything in Florida?
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Post by coachwoodall on Jan 20, 2009 10:12:18 GMT -6
I did the cards for our team myself. We did a little better money wise since we didn't have to split the take. It took me a little time to make the contacts, but now that I know the process, it should be a piece of cake.
I got a local printer to make the cards for me and it cost right at $1.17 per card for 1000 cards. The kids didn't sell quite as many cards as in the past, but I am hoping to do better this go around. Another plus is that I could get some local businesses on the cards that are good to us that probably wouldn't have gotten on the card.
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Post by hsrose on Jan 21, 2009 8:34:14 GMT -6
I haven't seen any confirmation on this yet - their site makes no mention of it and I haven't found any new releases.
Is there a news release or link that can confirm this?
Casey
IHS Vikings
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Post by seagull73 on Jan 21, 2009 8:43:22 GMT -6
1st Team Sports does our stuff too. They are great.
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Post by cmow5 on Jan 21, 2009 9:06:33 GMT -6
I haven't seen any confirmation on this yet - their site makes no mention of it and I haven't found any new releases. Is there a news release or link that can confirm this? Casey IHS Vikings I just did a google search and this was the first to pop up. dont know the site or how accurate it is www.trollerbk.com/portal/?module=intro&c=F30E6EFB-0E80-F5EF-3C47FFE9D9911DE1&showcase=1EDIT after a little more research I found this. Have no clue if this guy is who he says he is, but this is what I found It is true that varsity gold filed for chapter 11 bankruptcy protection. The reason for the filling was because they used Varsity Gold as collateral for other business ventures and they failed. Varsity Gold is still in business in spite of any rumors going around. The reason I know this is because I am the VG rep for the Central Valley and have been for the last 13 years. I only found this out yesterday and was waiting to get more information before I started notifying coach's. If any Coaches have questions on this please give me a call on my cell or you can email me at jlyons@varsitygold.com I guarantee that I will be in business when time comes to run all fundraisers!! Thanks Jeff |
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Post by phantom on Feb 22, 2009 0:54:03 GMT -6
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Post by airraider on Feb 22, 2009 9:19:46 GMT -6
The guy who I am replacing just left to go work for Varsity Gold.. I ran into him at a convention and we worked up a fundraiser plan. He didnt mention anything about it.. but then again.. why would he?
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Post by mitch on Feb 22, 2009 14:41:13 GMT -6
The guys in our area are breaking off and starting their own company. Around 50 or so reps if I'm not mistaken are in on the new venture.
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wolson
Probationary Member
Posts: 12
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Post by wolson on Mar 5, 2009 9:27:19 GMT -6
I just heard that the bankruptcy went from chapter 11 to chatper 7 which means they will not be in business anymore
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aggie8
Sophomore Member
Posts: 102
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Post by aggie8 on Mar 13, 2009 17:13:14 GMT -6
shocking! sad deal.
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Post by coachwilley on Mar 14, 2009 4:38:33 GMT -6
Is the Chapter 7 a sure deal? I guess that means our contracts for next year are obviously void. Guess we'll have to make our own. I think the hardest part would be finding the businesses, especially in small towns. We probably only have 10 businesses.
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Post by John Knight on Mar 14, 2009 12:52:00 GMT -6
Is this X and Os?
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Post by stang43 on Mar 14, 2009 12:55:33 GMT -6
Our reps are still doing our fund raisers, just branching on their own.
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Post by tog on Mar 14, 2009 14:46:36 GMT -6
this is related to something a lot of us have used to help build our programs let it go john geez |
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Post by John Knight on Mar 14, 2009 15:39:49 GMT -6
I should have added a  I guess tog! |
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Post by fbcoach74 on Mar 15, 2009 14:28:57 GMT -6
My rep contacted me early last week and confirmed that they are closing the doors, but he made it seem like the reps are going to try and find a way to do it on their own. At least the reps in Indiana
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Post by champ93 on Mar 15, 2009 14:45:33 GMT -6
I spoke to my rep also in the past 2 weeks. He told me about the Ch 11 Bankruptcy and that VG had over-extended itself in other business ventures, thus bankruptcy. He told me that he and other reps were creating another company and that they now had more flexibility (based on volume of sales) to increase our percentage.
Selling them this year may be the true challenge however, regardless of it's a Varsity Gold Card or whomever.
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Post by coachwilley on Mar 15, 2009 17:26:14 GMT -6
How many of you coaches make your own cards?
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Post by coachjuice on Mar 15, 2009 20:09:24 GMT -6
My rep called me and left a message this past week after I received a letter of the Bankruptcy case in my mailbox at school. Anyone else get one of these?
He said on the machine that he and some other reps had just signed on with another company and that there product would not change that much.
I did the Cards and the Cookie Dough this year. The cards went well the cookie dough was an absolute disaster.
This kid who worked for them seemed to be a god guy. I feel for all of those who are out of work now.
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Post by coachorr on Mar 16, 2009 0:16:18 GMT -6
I am not sure how we could have run our program without fundraising. This is bigger than x's and o's if you ask me, because it is at the program level.
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Post by bigm0073 on Mar 17, 2009 11:15:16 GMT -6
If you live in the following states:
1. VA
2. DE
3. PA
4. NJ
5. MD
6. WV
PM Me -
I have been working with 1st Team Sports for years (They are reps who broke off from varsity gold 6 years ago..). They have made me a TON of money of the years.
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Post by hsrose on Mar 17, 2009 13:25:25 GMT -6
What are the drawbacks to doing this discount sale all by yourself?
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FB4life
Sophomore Member
Posts: 191
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Post by FB4life on Mar 17, 2009 13:29:30 GMT -6
I would say having to go to the vendors yourself which would be (at lease for me) a "time" issue...
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Post by barr602000 on Mar 17, 2009 15:21:04 GMT -6
In washington, Varsity Gold was taking programs money more than anyone else. There are barely any teams still with them because they were taking way to much away from the program.
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Post by cmow5 on Mar 17, 2009 16:07:18 GMT -6
So is VG 100% done?
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