Poker
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31 Mar 10
21:51
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Date Joined:
04 Jun 04
I have been working with a company for last three months now and they have offered me a fantastic opportunity to run the whole Midlands area on a franchise type basis.
I need approx 10k to start it up (Includes buying the franchise and working capital )but don't have this and because of recent events with a previous company before Christmas don't have the best credit rating ( was ok before thou ).. Have approached banks etc but they cannot help because of credit rating.
The turnover per month would be at least 20k but probably higher and I have business pending which will return approx this over next three months also.
The company themselves have gone back to their bank In order to assist since they realise how successful this could be but they have only been able to reduce the initial costs down to the 10k ( was originally 20k),.. Bank has prevented them from pricing it any lower than this
How would I find someone to become a sleeping partner in this since I can run the whole thing and have the experience required to make a significant return on the initial investment.
I have seen the business plan for the franchise and the targets that need to be hit to sustain the venture and have nearly produced enough business in the last week to fulfil the quota for the month. ( Hence the 20k turnover will probably be lot higher.)
Is there any website where you can approach venture capitalists or private investors who would be prepared to at least listen to the proposals.
Any advice would be much appreciated ..
Sheriff
I need approx 10k to start it up (Includes buying the franchise and working capital )but don't have this and because of recent events with a previous company before Christmas don't have the best credit rating ( was ok before thou ).. Have approached banks etc but they cannot help because of credit rating.
The turnover per month would be at least 20k but probably higher and I have business pending which will return approx this over next three months also.
The company themselves have gone back to their bank In order to assist since they realise how successful this could be but they have only been able to reduce the initial costs down to the 10k ( was originally 20k),.. Bank has prevented them from pricing it any lower than this
How would I find someone to become a sleeping partner in this since I can run the whole thing and have the experience required to make a significant return on the initial investment.
I have seen the business plan for the franchise and the targets that need to be hit to sustain the venture and have nearly produced enough business in the last week to fulfil the quota for the month. ( Hence the 20k turnover will probably be lot higher.)
Is there any website where you can approach venture capitalists or private investors who would be prepared to at least listen to the proposals.
Any advice would be much appreciated ..
Sheriff
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mum/dad/grandparent as co signer on loan liability
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Show me the plan or....I'm out!
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whats the actual business
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indeed - show us a good business plan and you'll have plenty of takers at that level of investment.
also, business angels are a place to go but you'll like need to hand over more equity than you'd like |
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The company themselves have gone back to their bank In order to assist since they realise how successful this could be but they have only been able to reduce the initial costs down to the 10k ( was originally 20k),.. Bank has prevented them from pricing it any lower than this
If this business is such a goldmine why are they selling the franchise for 10k? |
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Dibble, have you got an email address I can send you rough idea of the business plan please.....
Sure if two or three were to get together Looked at some venture capitalist sites but because the business involves Finance they are excluded from this thro DTI's guidelines... I'm within touching distance of getting what I've been trying to work towards for over a year now and will be gutted if it fails because of this... My credit rating was fine until the company I was working for didn't pay me DEC and JAN since they were going under at time.. Once any one who is prepared to take a punt sees the plan and the figures involved im sure they will be interested.. Sheriff |
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in answer to 0000000000
Its because it involves visiting clients.... They cant do that from where they are based, UK wide so want say 5 different franchises to cover the UK... They have already told me they want me to run the Midlands area since they have seen what i have done in the last three months and volume wise they have never seen anything like it... Everything is in place, infrastructure, training already done on staff etc etc its just the initial investment that's missing... It is only the bank that has put the anchor on it... It was lot higher before I asked them to go back to bank to see if they could get better deal for me which to be fair to them they did.. Potential is huge... |
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Get an application form for the next series of dragons den
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Could the company not sign over the franchise to u for free, but have contract saying they get % of the profits, if they see it as such an earner why would they mess about going to banks etc to raise 10k....
Anyway good luck with it, hope u make a few million and come and donate it to cash tables :) |
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just get a family member to sign off on the loan man if it's only in name, if you can't convince them when you'll actually be paying it off why would anyone else be interested?
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Before you can discuss with anyone you need to work out what you are prepared to offer the partner in return for the investment (repayment plus interest, equity, guarantees, etc)
As for who to appraoch, Business Angels are probably a good place to try, though like everything lately not many people with too much spare cash so any investment will be harder to come by |
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I would be looking to pay them back within 3 to 6 months tbh... could offer 14k - 15k back for the initial 10k in that time scale which would be fair considering...
The equity and shares thing gets too complicated but if it had to be that way then so be it... As for blowing it at cash tables, im only a Sit and go or multi... never been good at cash tables... my sharkscope for stt was reallt good thou.. :) |
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Sheriff, can you send me details by email, I'd be interested in taking a look.
arsenalchamp2010@**.co.uk |
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(the kind of mail that is very warm)
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lol.. thanks chop.. i will get everything into a presentable business plan and send it to you some point tommorrow... hopefully by mid day...
thanks... |
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i know someone who may be interested as well plus if it helps i dont mind giving advice - i ran my own franchised business for ten years and was a regional manager for the franchisor as well
Pontepoker@aol.com |
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LOL sounds like a con job to me..
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i would be interested to take a look Sheriff - khublakhan69@html
ta |
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A good franchise costs a lot more than 10k, franchised models that are cheep are generally easy enough to duplicate outside by anyone who has the brains to make it work in franchise model.
brands like McDonalds, you get a gtd customer base thats loyal. Like subway, whio is loyal to thats crock of poo, small nice sandwich bar can walk over them, well in this country anyway. |
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Sure the bank would lend you if you offered them 50% ;)
I'm out ! |
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on another note private investors tend to back people with proven backgrounds, no matter how good it sounds are you a proven success?
I know a local new start up, person running it getting offered 50k just like that, not really that bothered about what the product was, just the person makes things happen. |
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thanks guys... ill send business plans once ive sorted them tomorrow... cheers mandy... i would appreciate any advice since its still all kinda new to me this working for your self lark...
I know you been on here for years too since i remember you giving me advice that if he checks twice, you bet... :) so any advice will be genuine... Sheriff |
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Send me the details too and I'll take a look. Bayesian@h0tmail.co.uk
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can't you just get a personal loan for this? I mean £10k to buy a car with? bank doesn't have to know what you do with that money.
and no need to send me the business plan as you've got a few interested. if anyone that I know wants my view (privately of course) then forward to me and i'll review it. rgds dibs |
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cheers dibs its just the credit rating that would stop me again.. i was fine up until the time round xmas when didnt get paid and missed payments and d/d'd bounce etc... back on feet now but it still shows on record...
thanks anyway... sheriff |
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hOOK LINE AND SINKER NICE APRIL FOOL.
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lol... i posted this last night and will probably be sending business plans after 12pm today so Id be the fool...
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jon@xtax.org.uk
Best accountant on betfair other than arbboy. If it looked viable may have plenty of investors willing to take a punt. |
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Interested too drop an email when you ping.
ray180greenwood@msn.com Cheers Ray |
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E mails sent mandylou...
To all other guys im just trying to sort something then will e mail over the weekend the plan etc.. Thanks again for help/advice and interest... Sheriff |
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received mate , just got up so will have a look through and get back to you later
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richpickins... ive sent email to that address with hot mail com and hot mail co uk but they have both bounced back...
is that the correct one... ? can you just email me at sweetshop147 hot mail co uk and I can reply to your correct email... cheers in advance... sheriff |
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Sheriff seems you have a good idea and two or three possible
investors so good luck but its in england and for this resaon im sorry im out :-) |
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lol cheers maestro... some top guys on here by the way ... always been one of the best forums in comparison with some of the others...
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sheriff, I work for a venture capital company as a fund manager. Email me at slan1916@ a o l .com
and I will point you in the right direction. One idea given that you are not looking for a huge amount is go down the Enterprise Invetsment Scheme rouyte. If you know anyone on higher tax rate they could invest the cash, get 40% tax back. I could look at it pa myself. |
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Where is it then ?.
You cant been that keen otherwsie ui wld of been busting yr @rse to forward it to all offers. |
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hey chop - thanks for that, initial comments returned.
cheers dibs |
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hi joffy... i sent it to ya on jon@ xtax. org. uk on 2/04/10
have you recieved it or ill send it again... cheers |
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no mate v odd
send it to my personal addy and ill pick it up straight away jonathon.sadler@ntlworld.com cheers |