This was the announcement I made earlier, on
“This is the CEO’s message to all franchisees.
As you may all know by now, as a result of this Covid19 crisis, almost all F&B providers including many of our vending machine peers and competitors are experiencing huge loss.
By the grace of our society and the market (specifically the sponsors, and numerous franchisees) ironically it is this time that we serve the largest number of coffee drinks (our CareWithCoffee project). Our hospital coffee vending machines serve more coffees than all the rest of the vending machines locations combined. My normal projection is 1 cup an hour. Our present CareWithCoffee machines averages about 6 cups an hour and above.
This is the moment when this is both a crisis and an opportunity. As a result of our goodwill there is a high chance that it would result in a contractual relationship in the future, thus resulting in a location (we cannot contractually compel them to form a relationship with us of course but we can continue on the discussion). Also at the same time we need franchisee support so that more sponsors are able to extend their goodwill to more doctors and nurses.
I have charged our software department to rush up the exchange component of vendshare.net (meaning that you can sell your shares in vending machines to numerous parties) so that you can readily sell off your shares to other smaller buyers. If you buy your vendshare fractional franchise ownership at S$ 3,000 it may be difficult to find 1 buyer to pay you S$ 5,000 to achieve the gains, but it is easy to find 100 buyers to pay S$ 50 to you achieving S$ 5,000 for you.
I am going to enforce that selling over at vendshare.net for you all to be at least 20% of the value you bought.
At the present moment, I am going to offer the NUH position for you all. Presently we have already sold over 5,500 cups of coffee at a reduced price and reduced profit but franchisees would still be able to enjoy something but you have to accept that the profit per cup is reduced. Absolute profit should still be higher than any typical vending machines. While the opportunity is there, I seek your understanding that your first intention should be from the basis of good spiritedness to support our frontline fighters. Community and Society First, Profits Second.
With that in mind, I have instructed Iris to construct the slides to let you know more details. Normal rules apply, please submit your bid.
Thanks and Best Regards.
Yours Sincerely,
Raymond Ng
CEO, VendShare”
Apparently I was told that this message was unclear and it gave franchisees the wrong impression. I am putting forward about a pointer of a franchisee, which interpreted correctly. He has done me the favour of rephrasing it so that it is clearer for everyone else. Thanks to him.
“My way of explaining this to the people in the whatsapp group so that it make sense to them.
You will be able to sell your shares through 2 methods.
1) through Venshare.Net
a. You can break down your share holdings down into 100 lots. E.g. You have 3,000 worth of shares, by using venshare.net, you can break them into 100 parts.
b. You can ask for a selling price that should not be lower than 120% of the price you bought your share at. e.g. 3000 broken into 100 parts is 30 each, thus you have to sell for at least 36 per lot.
c. Venshare will be taking a 1-2% of the transaction as transaction commission for sales through venshare.net, e.g. If you sell at 36 in the above example, vendshare charges 0.36 for each lot transacted.
2)selling directly not through venshare.net
a) no restriction on the buying and selling pricing for direct selling.
b. Sale of shares through direct selling cannot be broken down into lots, it has to be done via the whole ownership of shares for each machine.
c. once agreement on the sale is made, it is your duty as the seller of the shares to inform Vensahre about the change of ownership. Buyer should also do their own due deligence to check that the actual transfer of ownership is recorded properly at vendshare.
d. It is recommended that you engage a lawyer to do conveyancing for such transactions due to the time lapse in ownership transfer that can happen for such transactions.
We have to clarify that we are not enforcing this for transactions that do not go through venshare.net, we understand that it’s a free market, these terms are present on venshare.net to prevent manipulation of the share value to decrease artificially. We hope that you understand that since venshare is going to be a virtual platform where sale of vending machine shares becomes very accessible, someone with sufficient knowledge on economics can manipulate this platform to create artificially low pricing (think George Soros 1997 Asian Financial crisis) and cause panic among investors unnecessarily. These terms are there to protect your investments.
When opening up a platform for accessibility, as the CEO of vendshare, I also need to consider security of my investors. I hope that with this clarification, my intention on implementing the terms of selling and buying through venshare is made clear and transparent to all.”