The Journey - Company Information

 

The Surfer’s Path – Business Statement and Three-Year Operational Plan

Executive Summary

The Surfer’s Path is entering a new phase with a clear, pragmatic approach rooted in financial sustainability and high-quality production. We are avoiding unnecessary administrative overhead or excessive communication loops during the early delivery stage. Our immediate focus is on fulfilling existing obligations and stabilising operations. Once those commitments are met, we will welcome open discussion and collaboration, taking on board strong ideas that align with our vision.

 

Immediate Priorities (May–July 2025)

The following deliverables have been delayed due to staff absence but are now being prioritised for immediate completion:

  • Fulfilment of all missing magazine issues by 30 June 2025
  • Dispatch of all outstanding merchandise by 30 June 2025
  • Delivery of Issue 112 to all Lifetime Subscribers by late June to early July 2025, depending on global location
  • Following this, a renewed refund offer will be made available to subscribers who wish to opt out

During this period, communication will be intentionally limited in order to prioritise fulfilment and ensure focus, we are all working ourselves and want to focus on delivering, which has been the prime failure. After this phase, we will welcome open and constructive engagement regarding the future of the journal.

 

Business Rationale and Model

Following extensive research in Autumn 2024 (prior to the current ownership), including community surveys and market analysis, it became evident that the legacy model of The Surfer’s Path magazine was no longer financially viable. Unlike more commercially adapted titles, the magazine lacked a sustainable retail or e-commerce infrastructure. Reproducing the previous format would not have survived in today’s market conditions.

Instead, feedback clearly pointed towards demand for:

  • High-quality, long-form editorial content
  • Collectible, visually rich formats
  • A slower, more considered publishing rhythm

Based on this evidence, The Surfer’s Path has shifted to producing a biannual hardback journal, each issue centred around a specific subject or project. These will be:

  • Published every six months
  • Approximately 120 pages per volume
  • Produced at premium quality to ensure value and longevity
  • Priced at a higher point to reflect their collectable and editorial merit

This approach is designed to provide meaningful value to our Lifetime Subscribers and to open up opportunities for future creative and commercial projects, without compromising editorial quality.

 

Financial Overview

Operational Contingency

A dedicated reserve of £6,000 has been set aside to cover:

  • Fulfilment of missing issues
  • Merchandising delivery
  • Any outstanding subscriber refunds

This fund far exceeds projected liabilities, ensuring stability even in the event of cost increases. This fund comes from past sales, but if in the unlikely event that it requires more, we have it in reserve.

Production and Distribution Costs (Per Hardbound Issue)

  • Print and Production: £3,500
  • Packing and Distribution: £3,000
  • Total Per Issue: £6,500

This budget accounts for all Lifetime Subscribers plus an additional 10% to allow for replacement copies and limited commercial sale.

Cash Reserves and Income

  • £21,392 in reserves from prior image and film rights sales
  • £15,000 in contingency investment from ownership/Tax Refund from previous company
  • £12,340 in guaranteed income from the conclusion of image and film rights, phased across the next three years

This financial foundation allows for the secure production and delivery of Issues 112–117, regardless of any future sales or additional income streams.

 

Three-Year Publishing Plan (2025–2028)

Each issue will be developed with a focus on excellence in journalism, photography, and design. We are not seeking to compete in the mass market but to create a product of lasting value for our community.

 

Additional Revenue Streams (Non-Core Forecast)

While not essential to the current plan, we intend to explore:

  • Sale of back issues through third-party retailers and direct bulk distribution
  • Potential partnerships for retail or gallery placement
  • Special edition releases or archival reprints

All such opportunities will be pursued if they align with our ethos and help fund future editorial ambition.

 

Summary

We are not overcomplicating our approach. The Surfer’s Path has a clear, achievable three-year plan. By prioritising fulfilment, maintaining financial discipline, and committing to editorial excellence, we are laying the groundwork for a sustainable, high-value journal that can honour its legacy while evolving for the future.

We will deliver first. Then we will listen and arrange to talk.

 

 

 

 

 

 

 

 

 

 

Company Background

 

As most know TSP started with Alex Dick Read having an idea for a different surfing magazine, one that covered real people doing real things in surfing not the usual sponsored rubbish. Travel, environment and tales. He eventually found a home with Permanent Publishing, where The Surfer’s Path resided for almost two decades before it became absorbed into Factory Media.

Factory was all about mass ad sales, and TSP sat poorly, and eventually after years of not breaking even was abruptly ended, and that it seemed was it.

Then Factory Media it self-went bust, and through a chance meeting Tim Nunn got the administrators number and started a six-month process of pitching for the magazine. It failed, mainly because they didn’t realise they owned it, and also because they wanted to sell everything in one lump, in this case to Internet Fusion, another massive conglomerate of shops and publishing and the game was up. Tim was undeterred and spent another four months trying to wrestle The Path back, and eventually in a E Leclerc car park in central France, he was given The Surfers Path.

The relaunch then took everything Tim had, and with the support of subscribers The Path was back, and the magazine was incredible. What happened next was a mixture of misfortune with Covid, some poor business advice, and in the end, Tim breaking down. Dark times all round, and The Path was on its knees again, we would say no matter how dark things get a surfing magazine is not worth this sort of mental anguish. But Tim managed to pass it on to a new collective of people led by Stuart Bird, who made sure it got to issue 110. It was tricky, was far from perfect, but it made it.

Now it passes into some new hands, with Stuart still in there and five new directors, all of whom were subscribers, and we transition to a bi-annual hard backed version. It’s been a journey and we feel at last close to some stability.

You’ll find total transparency here with company news, accounts etc. and all past ones as well. We exist for you, that is the reason we have kept TSP alive. We will be publishing our accounts here, and if you’d like to contact Tim about past company we can pass on his details.

The details of accounts for The Surfer's Path Ltd. are about to go live on there, the company technically ended trading in January 2023, however due to the ongoing tax issues, where we got a large refund, they are made up to the end of March 2025, although there is no income/outgoings/cash in there since 2023 as it was with new company.