Hi!

[cloud_9]

Hi there!

My name is Jon, I am 22 years old and am new to this forum, so I thought I would stop by to say 'Hello' and introduce myself.

I currently work in the aviation industry, but the desire/passion to want to go into business for myself has taken over.

I have considered so many ideas already, but have never quite plucked up enough courage to actually 'go for it'. I have come to realise that this is down to me not thinking outside the box, or not thinking of the bigger picture when it comes to starting-up, and getting too carried away with the lesser important details...form over substance, as my father would say!

Anyways, I have found a business that is currently for sale in the London area, but do not have enough details about it at the moment to be able to provide any further information, but what I can say is that it is a bar/nightclub.

Biggest issues I face at the moment are that said business is on sale for £40,000 which I obviously do not have available right now, and also I do not have any experience in the bar/nightclub industry.

I was wondering if there was any forum members out there that would consider working together or perhaps as a group to co-own and run the bar/nightclub that I have in mind, of course I will provide more information as and when I get it?

Please feel free to post below or PM me if you can offer any advice or are interested in helping me


Kind regards,





Jon.

[annie57]

This could be a good prospect but there are a lot of factors you need to research before you get involved with this kind of project.

Has the current owner passed over any details for you look at, such as the financial figures?

[blazing_air]

Hi Jon - welcome
Havent got a clue about bars and nightclubs, apart from drinking in them, but what part of the aviation industry are you in?
As you are in London are you based at LCY or BHP?

[euphoman]

Hi Jon

Just some general comments,


Obtaining finance may be big problem.Lenders will look for experience and some capital behind them-often on a 50/50 basis for inexperienced individuals. Other option is to consider Small Firms Loan Gtee scheme-suggest you access their website for eligibility
This sector suffers a lot of failures and is not for faint hearted. Consequently Banks dont really like it.
Why is existing seller selling ? Is it struggling ?-you need to see the financial position ie:trading acounts and get an expert to look at them.
If you are looking at getting a partner(s), get a Partnership agreement in place it will protect you both and and also be useful to any potential lender.
Hope these are useful and good luck. If you want further advise give me a call........

[angel2008]

welcome to this forum