Recent content by Psc88

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    Raising finance on property

    Hi I have opportunity to purchase my partners shares in our franchise business. The business is profitable and I need to raise about £100k I own my own property worth 250k with a personal mortgage of 100k Will I be able to use the business accounts along with the equity in my property to raise...
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    Funding to buy out partner shares

    Will the bank not want repayment of the loan over a set period ? I assumed the loan would have had to be paid back before I took any profit for myself is this not correct
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    Funding to buy out partner shares

    I am towards the end of the year going to be buying out my partner in our current business. Business currently pays me a salary and he shares the end of year dividend ( silent partner) The funding will be through a bank loan. Business is currently profitable and we share around 50k end of...
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    Being the director of two limited companies and paying myself

    That is one option but is there any legal implications of having two companies same director and paying from one to the other as consultancy
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    Being the director of two limited companies and paying myself

    Question is I think it might be easier for me to keep tabs on my locum income if I set up another limited company for my local services rather then get the income paid into my optical business account
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    Being the director of two limited companies and paying myself

    I work as a optician. I have a small optical business of which I am a sole director. (Ltd company) I was previously employed by another company while I set up this optical business and was earning through PAYE. I didn't take any money out of the optical practice while I was building it up and...
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    Put and call

    i have asked the question, due to bank holiday won't get a response until tomorrow!...was just trying to get some info online earlier!
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    Put and call

    Currently purchasing a business with fifty percent of shares initially. 50 percent at a later date, legal department have suggested a put and call to make sure seller sells. If seller calls a sale and forever reason sale can't go through for example finance what are the legal obligations
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    Raising finance using property as collateral

    My wife is also an optometrist and would run the first shop
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    Raising finance using property as collateral

    Hi I appreciate the comments . I already own and run my own independent opticians as present which Is funding the new venture . If I took my salary out of the equation and took it as a dividend instead it would automatically bring profit up to 70-80k at the end of the year
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    Raising finance using property as collateral

    Franchise is one of the main selling points in this business , the multiples have around 60 percent of the market share , the support and the media campaigns (although funded through franchise fees) are helping the sector expand. Lease is currently being negotoated for a rent decrease of around...
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    Raising finance using property as collateral

    Hi there is no freehold property it is a leased business in a main shopping centre. Franchised with a well known high street opticians. Business does have assets of over 100,000 in terms of testing equipment and medical apparatus . Thanks
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    Raising finance using property as collateral

    Hi in the optical trade practices are generally valued at half the turnover. The business are different from other retail outlets. Profitability may not look huge at the moment but that's a conservative estimate and there are reasons for the profit being lower then expected namely having a ad...
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    Raising finance using property as collateral

    Hi Paul I would gladly have a chat about the possibilities of you can give me your details . Just a quick question , my accountant said that rule of thumb most banks will borrow up to 75 percent and limit there exposure to 25 percent. I know this isn't s hard and fast rule . Does this mean...
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    Raising finance using property as collateral

    Ps sorry for grammatical errors using my new touchscreen which is incredibly frustrating when typing anything more then a short text message!
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