Richard Hammond's Workshop.

[t-tony]

I don't know if anyone has seen these first 3 episodes of the "Hamster's" new TV show but I've just finished watching the 3rd. one tonight.

View: https://www.youtube.com/watch?v=OVXV_lsJi3s

View: https://www.youtube.com/watch?v=qzRHbHdv4bA

View: https://www.youtube.com/watch?v=M0XONgq8q2c


Like Clarkson he has launched an authentic business with the Father and Son who have restored his XK 150. A really good watch.

Tony.

ps. Sorry if someone has posted about this and I've missed it.

 

[Paul Rice]

Tried to watch on Discovery plus wont let me sign in

 

[t-tony]

I watched it on YouTube mate.

Tony.

 

[Nodzed]

Sorry I cant watch him, smarmy git syndrome

 

[Palmetto]

I've been watching it. I'm enjoying it but taking it with a pinch of salt. It's bordering on 'We must sell this car or lose the shop' drama. I'm sure Hammond knew he was going to have to buy £100k+ worth of equipment when he built the new workshop.

 

[GazHyde]

Sounds terrible, scripts probably written by the same people as Top Gear/Grand Tour/Clarkson's Farm/James May Cooking in Japan. All rinse and repeat money generating low quality, low brow "entertainment"

 

[mrscalex]

I'll happily take a watch @t-tony It might all be formulated but as long as the formula keeps a certain standard I like watching anything with the 3 of them in.

 

[Pingu]

He makes the fatal mistake of thinking that an enthusiastic amateur can run a business.

You should be a businessman first and a whatever second.

I like the way his "partners" allow him to make mistakes. Most businesses wouldn't survive his mistakes. His deep pockets will help, but I don't fancy his chances of ever being in profit.

You can track his real progress here...

THE SMALLEST COG LIMITED overview - Find and update company information - GOV.UK

THE SMALLEST COG LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity

find-and-update.company-information.service.gov.uk

 

[t-tony]

The videos have been pulled from YouTube.

Tony.

 

[Althulas]

They are on there again just finished watching all three episodes so far.

 

[Davyhoogy]

I've finished ep3 yesterday, enjoying it but its a bit overdramatic with the lack of work and huge expenses.
How often are they on?

 

[Palmetto]

I've finished ep3 yesterday, enjoying it but its a bit overdramatic with the lack of work and huge expenses.
How often are they on?

I think they're a weekly show on Sky and the uploader puts on them on Youtube every week.

 

[Paul Rice]

Its on Discovery plus, downloaded every Monday, still available on some you tube pages.

 

[Pingu]

... but its a bit overdramatic with the lack of work and huge expenses.

Having seen this sort of thing in real life, it seems very accurate.

Person thinks they can turn a hobby into a business.
Does little to zero research into potential customers (and what they are willing to pay), capital costs, variable costs. Not appreciating that the most important tool in his business is going to cost 30 times more than he guessed is just madness.

He thinks that...

Profit = Sale Price - (Cost of black car + Cost of parts + Random Number to cover other things (fag packet guess) )

It would do if it were not a business, but businesses have to pay rent, rates, power, wages and NI, and taxes on whatever is left. This is what makes up the Random Number. He should have these numbers in his head.

I hope he understands that you can only buy beers and pizza with NET profit - we haven't seen this on the programme (and I hope we don't)


Cashflow kills businesses. He will only keep going if his arms are long enough to reach the bottom of his very deep pockets.

From what I have seen, I don't think that he has a profitable business, anyway.

This programme could be very educational - not a programme about how to rebuild classic cars, but a programme about how not to run a business.

 

[GazHyde]

This programme could be very educational - not a programme about how to rebuild classic cars, but a programme about how not to run a business.

Couldn't agree more! They will make more from the broadcast rights than they'll make from cars. I'd expect it's just been setup for the show, filming will conclude once the horse has been fully flogged and it will shut down quietly. This is about leveraging Hammond's fame for clout and selling 22 minute episodes to the highest bidder.

 

[Pingu]

Couldn't agree more! They will make more from the broadcast rights than they'll make from cars. I'd expect it's just been setup for the show, filming will conclude once the horse has been fully flogged and it will shut down quietly. This is about leveraging Hammond's fame for clout and selling 22 minute episodes to the highest bidder.

It is made by Chimp Productions (His wife and him are the only shareholders), so I agree that the programme is where the money is to be made.

CHIMP PRODUCTIONS LIMITED overview - Find and update company information - GOV.UK

CHIMP PRODUCTIONS LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity

find-and-update.company-information.service.gov.uk

I don't think it's a stunt. I think that he really wants The Smallest Cog to be a success. He has sold some of his prized collection to fund this...

Hammond sells his 'toy collection' to raise £230,000 for The Smallest Cog | Hagerty UK

Richard Hammond has sold his 'toy collection' to help fund his new car restoration business, The Smallest Cog.

www.hagerty.co.uk

Alternatively, it could be a VERY clever business trick - he could loan the cars to the business BEFORE the sale. When the business sells them, the VAT on the seller's fees would be able to be reclaimed, but (I think) any gains would be taxable - but if he over-valued the loan, it would actually be a loss. This loss could be very useful . We are getting into the realms of "what does HMRC allow?"

I've asked my accountant some very strange questions, and the answer has been "Yes, you can do that". It's amazing what you can get away with. The trick is not to take the p***.

 

[GazHyde]

I really can't fault where your mind is drifting on this one @Pingu.