65k profit in 2008 but partner split so investment or silent partner needed

[jkchawner]

So OK. It's a New Year. Obama will make his inaugural speech today which will generate a lot of goodwill in the world. Lets give the OP the benefit of the doubt then and sum up where he went wrong. Several of you have already done that in your own way. I have summed it up in 4 lines and given an example of how he should have presented his case. It is by no means definitive and just something I knocked out in a few min's. The difference is there to be seen however.

Terrible overall presentation.
No definition of figures
Inconsistent financial needs
The reference to ill health when he is a key player. The following perhaps is a more professional presenation.

BUSINESS OPORTUNITY
I currently run a business refurbishing catering units where I have a found a ready market on E-bay with net pre-tax profits of £65,000 pa over the last 4 years. Quite a respectable income from a 1 man business and I have used the money to establish myself on a sound personal financial footing and was quite happy with the status quo for a while. I do now feel however there is now scope for expansion and that with a modest cash injection of around £10K I could double existing profits with very little extra in operating costs.

The business itself for example already operates from 2,000 sq ft of secured workshops with a fixed and modest rent and I would only need I young apprentice whose wages would be mostly covered by government subsidy to increase productivity.

Worth a punt then at £10K with the money secured on stock and at a time when (1) The recession and redundancy means that more people than ever will be looking for an income which is easy to move into and mobile catering easily fits that bill. (2) £10K in a bank at less that 2% is hardly a return on capital. I am offering 20% of the company

thats 20000 sqf of space apart from that yes point taken

 

[jkchawner]

okay let's get this back on track as it is not 6am on Sunday!

JCK (Ben?), IIRC your partner is leaving, was (s)he crucial to the day to day running of the business?

You need cash, is this to buy him out or for working capital?

For whatever reason, you have decided selling equity is better. This is a silent partner therefore getting 30% of the profit. With the £65k profit, have you taken a wage already or do you just take 70% of the profit leaving the investor £18k or so?

If so this seems a very good (too good?) deal for me to put in £20k now and get £18k a year for the next say 3 years and tripple my money.

I don't really have spare cash at the moment but I have an interest in your line of business and we are not that far away.

What sort of money does a refurbished trailer go for?

Thanks

Adam

sorry adam i missed out on one of your points raised.
my partner was as good at the job as myself no better no worse. so the answer is no its not a crucial part of my business at all and im getting on great on my own. hope this clears that up as well.
and by the way its shaun not ben

 

[jkchawner]

okay let's get this back on track as it is not 6am on Sunday!

JCK (Ben?), IIRC your partner is leaving, was (s)he crucial to the day to day running of the business?

You need cash, is this to buy him out or for working capital?

For whatever reason, you have decided selling equity is better. This is a silent partner therefore getting 30% of the profit. With the £65k profit, have you taken a wage already or do you just take 70% of the profit leaving the investor £18k or so?

If so this seems a very good (too good?) deal for me to put in £20k now and get £18k a year for the next say 3 years and tripple my money.

I don't really have spare cash at the moment but I have an interest in your line of business and we are not that far away.

What sort of money does a refurbished trailer go for?

Thanks

Adam

oh and answer to the question about partner buy out thats all been done paid up and out of the way hence me being low on working capital

 

[jkchawner]

is there anybody there ????????????

 

[adam]

not with £20k to invest no!

But now we have a handle on it, if people wade through the past 12 pages you might get a bite.

Good luck.

 

[biglad09]

Been a long time lurking on this forum never felt the need to post, UNTILL I red through this post

I have to say that the OP is talking complete and utter rubbish, let me first start with the fact he claims that "the credit crunch doesn’t affect this"

What you failed to state here is that this is based on your opinion and not fact; you have no figures to back this up

I have been running and selling catering trailers in the south of England for over 15 years , we monitor eBay on a regular basis for trailers that may be of interest to us and we also sell off old or outdated trailers on eBay from time to time and I can confirm 100% that the op is talking rubbish , I have figures here that show a 40% reduction in trade for outside catering in the last 18months , also the average cost of a used trailer as fell by almost 60% in the last year ,

Op after seeing your eBay name I can see you have dropped you price from 20-30k down to just £5000

EBay item number 180318163982


But then seeing that your avage selling price is £2000 for a trailer, I can’t blame you

EBay item number 180315377005


Now going on your own figures you mut have paid around the £700 mark for the above trailer, so if you had £30k you mean to say you would buy these trailers in bulk? , I make that more than 40 trailers!!!! , who will sell them to you in bulk???

my guess is the credit cruch AS affected your little business , so much so that you are broke and you think you can come on here and pull the wool of somebody’s eyes , sorry but this really has made my blood boil

You figures don’t add up, infact almost all of what you say doesn’t add up, what is your company name? Will look you up on company’s house to see you true turn over and profit, you have no need to keep this to yourself surly?

As stated in a early post , you are simply a tradesman that can do the work to these trailers , you have no stock and no money to invest yourself , your old partner (if he/she ever existed) no doubt left you due to this fact

 

[SLF]

Who needs a crystal ball when you've got Judge Judy monotoring the forum to tell you exactly how it is!!

 

[jkchawner]

Been a long time lurking on this forum never felt the need to post, UNTILL I red through this post

I have to say that the OP is talking complete and utter rubbish, let me first start with the fact he claims that "the credit crunch doesn’t affect this"

What you failed to state here is that this is based on your opinion and not fact; you have no figures to back this up

I have been running and selling catering trailers in the south of England for over 15 years , we monitor eBay on a regular basis for trailers that may be of interest to us and we also sell off old or outdated trailers on eBay from time to time and I can confirm 100% that the op is talking rubbish , I have figures here that show a 40% reduction in trade for outside catering in the last 18months , also the average cost of a used trailer as fell by almost 60% in the last year ,

Op after seeing your eBay name I can see you have dropped you price from 20-30k down to just £5000

EBay item number 180318163982


But then seeing that your avage selling price is £2000 for a trailer, I can’t blame you

EBay item number 180315377005


Now going on your own figures you mut have paid around the £700 mark for the above trailer, so if you had £30k you mean to say you would buy these trailers in bulk? , I make that more than 40 trailers!!!! , who will sell them to you in bulk???

my guess is the credit cruch AS affected your little business , so much so that you are broke and you think you can come on here and pull the wool of somebody’s eyes , sorry but this really has made my blood boil

You figures don’t add up, infact almost all of what you say doesn’t add up, what is your company name? Will look you up on company’s house to see you true turn over and profit, you have no need to keep this to yourself surly?

As stated in a early post , you are simply a tradesman that can do the work to these trailers , you have no stock and no money to invest yourself , your old partner (if he/she ever existed) no doubt left you due to this fact

I HAVE ONE THING TO SAY TO YOU MATEY BOY
GO BACK AND DO YOUR HOMEWORK PLEASE AS YOU DONT HAVE ANY IDEA OF MY BUSINESS INFACT I DONT THINK YOU NO WHAT THE WORD BUSINESS EVEN MEANS !
GOT YOUR EBAY ID MATE 118 118

 

[Optegris]

erm caps lock stuck?

 

[jkchawner]

erm caps lock stuck?

only when im piss*d off lol

 

[biglad09]

Just because you says FACT, doesn’t make it a fact, it’s just a word; it is only a fact if it can be backed up, something which you can’t do

Now I can tell you that you are not a Ltd company and you are not VAT registered

Now mistake me if I am wrong but £65k in profit alone would mean you need to be VAT registered

So you are either lying on your profit or you are breaking the law

And that my friend is a FACT which can be backed up, unlike your lies, and if you really want me to I can post all of these details onto this forum to prove it!!!

It’s amazing what can be found on the internet!!!

May I ask how much tax you paid on that £65k last year? ,

 

[jkchawner]

yes please post it all then ring the vat man

 

[jkchawner]

Just because you says FACT, doesn’t make it a fact, it’s just a word; it is only a fact if it can be backed up, something which you can’t do

Now I can tell you that you are not a Ltd company and you are not VAT registered

Now mistake me if I am wrong but £65k in profit alone would mean you need to be VAT registered

So you are either lying on your profit or you are breaking the law

And that my friend is a FACT which can be backed up, unlike your lies, and if you really want me to I can post all of these details onto this forum to prove it!!!

It’s amazing what can be found on the internet!!!

May I ask how much tax you paid on that £65k last year? ,

oh sorry i forgot and the tax man

 

[jkchawner]

[FONT=verdana, geneva, lucida, arial]biglad09[/FONT], DuaneJackson, [FONT=verdana, geneva, lucida, arial]edbk1203[/FONT], [FONT=verdana, geneva, lucida, arial]Jon123[/FONT], [FONT=arial, sans-serif]Tom McClelland[/FONT], [FONT=arial, sans-serif]Vision[/FONT]
eh here there all all viewing again must be boring in your lifes

 

[jkchawner]

Just because you says FACT, doesn’t make it a fact, it’s just a word; it is only a fact if it can be backed up, something which you can’t do

Now I can tell you that you are not a Ltd company and you are not VAT registered

Now mistake me if I am wrong but £65k in profit alone would mean you need to be VAT registered

So you are either lying on your profit or you are breaking the law

And that my friend is a FACT which can be backed up, unlike your lies, and if you really want me to I can post all of these details onto this forum to prove it!!!

It’s amazing what can be found on the internet!!!

May I ask how much tax you paid on that £65k last year? ,

hurry up then got a date with a pint biglad

 

[biglad09]

you claim to be a bussnessman and to know your market well , i susgest you re-read through half of the garbage you have writen , you have linked your ebay user id , you have made bold claims about your profits (which cant be backed up) you are not VAT registered you are not a Ltd company and you are not a sole trader , do you realy want me to keep digging?

 

[jkchawner]

you claim to be a bussnessman and to know your market well , i susgest you re-read through half of the garbage you have writen , you have linked your ebay user id , you have made bold claims about your profits (which cant be backed up) you are not VAT registered you are not a Ltd company and you are not a sole trader , do you realy want me to keep digging?

do what u want whatever turns u on you dont even no me my company name or fu*k all to do with me softlad.
i aint got any problem with whatever u think u can dredge out your gutter pal. and even if u do no me or name me or shame me then that just means your an even bigger *****r for being scared to show yourself. internet bullys lol
see me shaking think not.
if u new me that well the shaking would be on your end not mine carry on with whatever it is you want to do matey im not bothered dredge the bottom of the pit and pull up what u like.
cause this chap aint bothere infact im that bothered im going out half hour early now cause your as boaring as the ex mrs used to be and she found out the hard way as well.
private message me with your name business name and all aDdress,s concerened with yourself then i would be worried FOR YOU ! BIG TIME.
APART FROM THAT GO AWAY AND BOTHER SOMEONE WHO IS BOTHERED OR DO WHAT U SAY YOUR GOING TO DO EITHER THAT OR
SHUT THE FU*K UP

 

[biglad09]

do what u want whatever turns u on you dont even no me my company name or fu*k all to do with me softlad.
i aint got any problem with whatever u think u can dredge out your gutter pal. and even if u do no me or name me or shame me then that just means your an even bigger *****r for being scared to show yourself. internet bullys lol
see me shaking think not.
if u new me that well the shaking would be on your end not mine carry on with whatever it is you want to do matey im not bothered dredge the bottom of the pit and pull up what u like.
cause this chap aint bothere infact im that bothered im going out half hour early now cause your as boaring as the ex mrs used to be and she found out the hard way as well.
private message me with your name business name and all aDdress,s concerened with yourself then i would be worried FOR YOU ! BIG TIME.
APART FROM THAT GO AWAY AND BOTHER SOMEONE WHO IS BOTHERED OR DO WHAT U SAY YOUR GOING TO DO EITHER THAT OR
SHUT THE FU*K UP

its not hard to see your true colours is it? , i can now see the way you run your business must be similar to the way you talk!

intresting that you havent proven me wrong by posting your VAT number or disclosing the amount of tax you paid on that £65k ,

you claim i am a bully , mistake me if i am wrong but its seems to be you and only you that as done all the name calling all the way through this thread!

seem like if anybody doesnt aggree with your lies they are the bad bully that is sad and boring!!!

 

[jkchawner]

its not hard to see your true colours is it? , i can now see the way you run your business must be similar to the way you talk!

intresting that you havent proven me wrong by posting your VAT number or disclosing the amount of tax you paid on that £65k ,

you claim i am a bully , mistake me if i am wrong but its seems to be you and only you that as done all the name calling all the way through this thread!

seem like if anybody doesnt aggree with your lies they are the bad bully that is sad and boring!!!

JUST CAUGHT ME BEFORE I WAS OUT THE DOOR AH WELL
AS I SAID BULLY NAME AND SHAME ME THEN
RING THE TAX AND VAT PLEASE IM ASKING NICELY
AND ALSO PM OR PUT YOUR NAME AND ADDRESS ON HERE UNTIL YOU DO EITHER I AINT GOING TO BOTHER ANSWERING YOUR SAME CRAP OK !
AS FOR THE INVESTMENT ALREADY SORTED IT SO DO I GIVE A FLYING FU*K WHAT YOU THINK OR ANYONE ELSE.
REAL LIFE SITUATION IS YOUR A BULLY MATEY BOY.
AND CAN'T HANDLE THE FACT.
SO DO WHAT U GOTTA DO DO I LOOK BOTHERED ?
ANYWAY AS I SAID IM OFF OUT AND WONT BE ANSWERING ANY MORE OF YOUR CRAP UNLESS YOU WANT TO SORT IT OUT MAN TO MAN OK

 

[jkchawner]

[FONT=verdana, geneva, lucida, arial]jkchawner[/FONT], [FONT=verdana, geneva, lucida, arial]biglad09[/FONT], [FONT=verdana, geneva, lucida, arial]downsouth[/FONT], [FONT=verdana, geneva, lucida, arial]edbk1203[/FONT], [FONT=verdana, geneva, lucida, arial]Jon123[/FONT], [FONT=verdana, geneva, lucida, arial]Tej[/FONT],
OH LOOK ME OLD MATE TEJ NOW WATCH IT YOU HAVE ALREADY HAD YOUR BUM SMACKED LOL

 

[biglad09]

have your balls droped yet?

 

[jkchawner]

See Ya Later Girls

 

[biglad09]

See Ya Later Girls

but your still here

 

[Optegris]

Funniest posts I've ever read. Thought the schools had gone back?

 

[Tej]

It has been a hilarious thread..

 

[RedMacbeth]

One of the negative feedback left for our friend JkChawner or Ben Williams or Shaun...left the following comment 'a very odd man'. I think this sums up this thread.

I think we should stop responding as it keeps adding fuel to the fire. Idle threats and bad language are not welcome on a business forum.

I wish the OP luck on his venture but unless anyone is interested(?) then can they PM rather than reply to the rambling posts.

Just my two pennies worth

 

[biglad09]

this must be the MERCEDES he drives round in

180300004440

 

[biglad09]

seems the buyer that brought that car also sells catering trailers and also lives in derbyshire

user id ikleleo

one of the 8 other user ids selling over £100k maybe or is this "the old partner" again

interesting feedback !

 

[DuaneJackson]

He's been banned now. Too many strikes for bad language.

 

[edbk1203]

Jesus, what happened... I started typing a post, had to stop doing that and go and help the wife with some bits and pieces and when I come back all hell has broken loose!!

For the record, this is what I had written before being called away...

What an interesting thread... for all the reasons mentioned by previous "posters" I keep flitting from being interested in the possible investment opportunity to really being unsure as to whether I am or not, because some extremely valid points of contention have been raised by other contributors.

Nevertheless, I have the following questions for jkchawner, I don't mind if you prefer to answer them via PM or on the public forum:

• Are you a sole-trader or is your company a Ltd company?
• If your company is a Ltd company can you please provide me with your registered company name and/or number as I will be able to confirm it/them with companies house?
• Are you VAT registered and if you are, can you please tell me the VAT number?
• Do you have a copy of your most recently filed annual accounts for me to view?
• What is the actual amount of cash you are looking for - On this forum the amount discussed has varied considerably, on Ebay you're asking for £5,000, on forums.teneric.co.uk you're asking for between £20k and £50k
• If you do move to Benidorm later this year (expatforum.com), how will that affect the business and the investor that provides you the money you're after?
• The £65k profit that you quote... was that Gross or Net profit?

Despite the more recent posts, I'm going to stick with using/giving jkchawner the benefit of the doubt and continue with what I was going to say....

jkchawner (note this is an observation and not an attack on your credibility) your attitude in some of your earlier posts, never mind the ones I've just come back to, is not going to win you many bonus points with potential investors because to someone who doesn't know you, you come across in your posts as someone who *could* be somewhat difficult to work with... however... to your credit and in defense of this, your Ebay Feedback (for the ID you have quoted) is 100% positive so you're obviously doing something right.

This in turn leads me on to my final question:

• You mention that you have been selling these trailers on Ebay for a period of time, the Ebay ID you quote has not been operational for long, and the feedback for that Ebay ID, incorporates very little (that I can tell) actually relating to trailers... you mention elsewhere that you have other Ebay ID's and if you don't mind I'd like you to supply me with at least one that has more feedback relating specifically to these trailers so I can read other people's (outside of this forum) opinion of you and your business etc.

I look forward to hearing from you.

 

[edbk1203]

He's been banned now. Too many strikes for bad language.

Ah well... that happened before I finished posting too.

* - Note to self: Type faster and tell the wife to leave me alone when I'm on the confuser.

 

[SLF]

Maybe this guy doesnt circulate in professional business circles but to be honest his attitude isnt as bad as some people's here and I can see that him being brand new to the forum and who probably hangs around less white collar circles in his trade, would skip straight to the straight talk - the kind that most peole would actually love to say but can't (for obvious reasons not least a ban!!) but you know, cant blame the guy for getting wound up. Members here do wind OP's up and there reallyis no need for it. I mean, state an opinion but some people are just downright nasty in their approach.

 

I suspect some of the trailers fell off the back of a lorry.!!

Earl

 

[lesliedocherty]

A lesson in how not to ask for funding indeed, funny thread tohugh

 

[Mister B]

Time to delete this thread?

Mister B

 

[Optegris]

Personally I think it should stay as an example of how not to ask for investment...

 

[chalkie99]

Why would you want to delete something which might provide a valuable insight into the OP if you are researching one of his requests elsewhere via Google for example?

 

[lesliedocherty]

Yes, stupid to delete it,

Lings dragon den and this one are good examples

 

[lesliedocherty]

Why is it that people keep asking for the more volatile threads to be deleted, not just this one, do threads ever get deleted ???,

 

[SLF]

why are they ever gonna delete such threads? they bring in and keep the punters glued! There are far more reading forums than will ever take part in them.