Buying a warehouse

Discussion in 'International Business' started by martinn12005, Jun 22, 2020.

  1. martinn12005

    martinn12005 UKBF Contributor Free Member

    51 0
    I live on an island within the EU. I have a successful business that is making about 30% net profit. I turnover about 500k per year with room for very high expansion. However, I have a considerable problem. The Company is 5 years old.

    My business requires a lot of warehousing storage space and on this island it is extremely expensive. Astronomically expensive. As are the residential properties. It's done to keep foreigners out or at least make it difficult for them - in my opinion.

    This island also has another problem. It is very corrupt. I've lived here 10 years now. I'm English, Within a few years of living here, I ended up getting a garnish order freezing my personal account for 30k euros done by a very corrupt individual. I've never used personal banking since that time and always operating everything I do through a Company.

    I have no access to bank finance because of the above but I don't really desire to do this anyway... Besides, it is very discriminatory towards foreigners.

    I would like to know what my options are? I don't particularly want to get an investor because of how corrupt they are here.

    I was thinking crowd funding but it's very hard to provide incentive to people for these kinds of ventures I believe.

    Is there anything I might be missing?

    I don't mind building the warehouse, buying it. I'll literally do just about anything to achieve my aims. But what to do. It seems very difficult.
     
    Posted: Jun 22, 2020 By: martinn12005 Member since: Sep 18, 2009
    #1
  2. The Byre

    The Byre UKBF Legend Full Member

    10,236 4,231
    Sounds like Malta - you are not going to change the island, so either accept and USE the corruption to your advantage - or move!
     
    Posted: Jun 22, 2020 By: The Byre Member since: Aug 13, 2013
    #2
  3. MY OFFICE IN CHINA

    MY OFFICE IN CHINA UKBF Legend Full Member

    5,610 1,319
  4. Mr D

    Mr D UKBF Legend Free Member

    24,357 2,959
    Move somewhere that will enable your business to grow better - at this moment would suggest renting warehouse space short term elsewhere, likely within 12 months you will be able to pick up suitable space cheaper than now. Or build cheaper.
     
    Posted: Jun 22, 2020 By: Mr D Member since: Feb 12, 2017
    #4
  5. Bob Morgan

    Bob Morgan UKBF Enthusiast Free Member

    950 258
    . . . Sauce for the Goose is sauce for the Gander! Sometimes it's an absolute necessity
     
    Last edited: Jun 23, 2020
    Posted: Jun 23, 2020 By: Bob Morgan Member since: Apr 15, 2018
    #5
  6. Financial-Modeller

    Financial-Modeller UKBF Enthusiast Full Member

    782 272
    What are your aims?

    Are your suppliers and customers on the same island? If not, can you store stock near to one or both away from the island?

    Do you expect that to change as you grow? Are your growth plans on the island or elsewhere?
     
    Posted: Jun 23, 2020 By: Financial-Modeller Member since: Jul 3, 2012
    #6
  7. Import Expert

    Import Expert UKBF Regular Free Member

    335 134
    Does your warehouse have to be on the Island? Where are your customers?
     
    Posted: Aug 24, 2020 By: Import Expert Member since: Feb 1, 2012
    #7
  8. billiehop

    billiehop UKBF Newcomer Free Member

    28 0
    Just move bro
     
    Posted: Sep 11, 2020 By: billiehop Member since: Sep 10, 2020
    #8