buying a established business (retail) and loans

[Mark T Jones]

Ask them to give you a 0% interest deal. No point in paying interest unnecessarily!

And ask them to give you a bit more than you need to buy the business. That way you have something to live on in the early days and before you get access to the business bank account to pay yourself a salary.

Alternatively could go for 100% interest and 100% over payment. The outcome will be the same

 

[ripplehd]

Alternatively could go for 100% interest and 100% over payment. The outcome will be the same

I will persuade someone to give me 200k don't worry either it can be from the bank, lender or the seller, business can go any way

 

[Mr D]

Ok so you buy a job. What happens when you have to go weeks or months with no wages yourself? Government will not help, benefits will not help - you own a job.

 

[Chris Ashdown]

I will give you the benefit of doubt

To start nearly any business you need money, to get a loan you normally need at least 50% of what you need in cash or have a house etc to guarantee the loan so if it all goes bottoms up they can make you sell your house to get there money back

Young people with a good business plan may be able to get a small grant from the princes trust but it will be in the thousands not tens of thousands as far as i know

If you really want to start in business then buy something and sell it on ebay for a profit, many start out this way. it does not matter what you buy to sell it can be a car or a box of spark plugs a old pot from a charity shop or a bunch of your old CD's

PS Nobody owes you a living you have to make it yourself

 

[Mark T Jones]

I will persuade someone to give me 200k don't worry either it can be from the bank, lender or the seller, business can go any way

Ok, the fact that I'm still in this conversation tells you how quiet my day has been

To continue the fun, if you can show me a formal offer from a professional lender for £200k against this business, I will do as Clinton suggested and lend you the money interest free with a £20k buffer

 

[ripplehd]

Ok, the fact that I'm still in this conversation tells you how quiet my day has been

To continue the fun, if you can show me a formal offer from a professional lender for £200k against this business, I will do as Clinton suggested and lend you the money interest free with a £20k buffer

well ill try

 

[Vigilion]

This sounds like a tough business - looking at other post offices for sale that does advertise their profits, they range from £30-50k depending on the area and if they include a convenience store.

This looks like in the best case you might break even in 2 years. Also, the comment The Byre makes is a valid one - the owners might be drawing dividend and not paying themselves much - which could mean in reality it is just breaking even and not making any profit. So would be quite a risky investment.

 

[bgnovuc]

that will be risky, buying on loan, unless you've done pretty good research.