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HELP 'I have £62k for first business...'

Discussion in 'General Business Forum' started by esco, Jun 5, 2010.

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  1. QuickHomeBuyers

    QuickHomeBuyers UKBF Ace Full Member

    2,217 198
    This is fairly possible but you would need to increase your £62k to atleast £75-80k to buy a SPAR depending upon you location in Britain.

    According to my experience businesses in Liverpool are cheaper than in Cardiff.

    I have an eye on a SPAR which is £250k leasehold and I know the person who owns but isnt willing to negotiate the price. So thats on hold for now.

    You need to find a business which is either: £200K freehold or about £82kish leasehold (subject to £20k business loan).

    You need plenty of time researching as well. Now that you are not in full time employment get going asap.

    I can give you free advise on retail shops and post offices (line of work).

    You are the ultimate decision maker. Make sure you take advice on here before taking any step or spending money.
     
    Posted: Jun 5, 2010 By: QuickHomeBuyers Member since: Jan 9, 2010
    #41
  2. QuickHomeBuyers

    QuickHomeBuyers UKBF Ace Full Member

    2,217 198
    I think you are talking something in which you only manage and let the £5.85 do the donkey work.
     
    Posted: Jun 5, 2010 By: QuickHomeBuyers Member since: Jan 9, 2010
    #42
  3. ivebeenstiffed

    ivebeenstiffed UKBF Newcomer Free Member

    451 65
    good. chill out..

    no, i dont mind you asking.

    trev
     
    Posted: Jun 5, 2010 By: ivebeenstiffed Member since: Jul 22, 2008
    #43
  4. ReaperGroup

    ReaperGroup UKBF Newcomer Free Member

    53 1
    What sort of opportunity are you actually looking for?

    i.e. I am currently in the startup stage of a business, and am raising the funds (no, i am not trying to sell to you, although you never know, i may find someone on here when ive finalised the plans) that will require £5-7k, but the profit margins are very large in comparison. Its fairly niche, and without proper knowledge, it wouldnt work.

    Do you have anything that you are specifically involved in? Otherwise there are too many differences.

    Karl
     
    Last edited: Jun 5, 2010
    Posted: Jun 5, 2010 By: ReaperGroup Member since: May 24, 2010
    #44
  5. esco

    esco UKBF Contributor Free Member

    81 1
    I have seen a few business that seem ok.......of coarse I will have haggle the prices for them down......;)

    http://www.rightbiz.co.uk/buy_business/for_sale/38251_west_midlands.html

    http://www.rightbiz.co.uk/buy_business/for_sale/38578_west_midlands.html

    http://www.rightbiz.co.uk/buy_business/for_sale/44312_west_midlands.html

    what are your thoughts on these?
     
    Last edited: Jun 5, 2010
    Posted: Jun 5, 2010 By: esco Member since: Jun 5, 2010
    #45
  6. esco

    esco UKBF Contributor Free Member

    81 1
    I have nothing I am involved in, I'm currently unemployed also.

    I'm open minded re opportunity's I'm looking for. What industry is the business your looking at in?
     
    Posted: Jun 5, 2010 By: esco Member since: Jun 5, 2010
    #46
  7. ReaperGroup

    ReaperGroup UKBF Newcomer Free Member

    53 1
    It is in the pets industry, more particularly food.
     
    Posted: Jun 5, 2010 By: ReaperGroup Member since: May 24, 2010
    #47
  8. esco

    esco UKBF Contributor Free Member

    81 1
    how much time you reckon you need til you finalise your plans?
     
    Posted: Jun 5, 2010 By: esco Member since: Jun 5, 2010
    #48
  9. QuickHomeBuyers

    QuickHomeBuyers UKBF Ace Full Member

    2,217 198
    Posted: Jun 5, 2010 By: QuickHomeBuyers Member since: Jan 9, 2010
    #49
  10. ReaperGroup

    ReaperGroup UKBF Newcomer Free Member

    53 1
    Ive done a rough draft. Its a fairly simple plan, but i havnt calculated staffing requirements etc yet.


    They just worked for me.



    Karl
     
    Posted: Jun 5, 2010 By: ReaperGroup Member since: May 24, 2010
    #50
  11. esco

    esco UKBF Contributor Free Member

    81 1
  12. esco

    esco UKBF Contributor Free Member

    81 1
    Get back to me once you've finalised your plans. :)
     
    Posted: Jun 5, 2010 By: esco Member since: Jun 5, 2010
    #52
  13. QuickHomeBuyers

    QuickHomeBuyers UKBF Ace Full Member

    2,217 198
    I had to restart my laptop, but the links still dont work.

    You can downlaod the pdf and send it to me?
     
    Posted: Jun 5, 2010 By: QuickHomeBuyers Member since: Jan 9, 2010
    #53
  14. esco

    esco UKBF Contributor Free Member

    81 1
    Have you got an e-mail address I can send the links to you over?

    Dunno why the link not working for you :|
     
    Posted: Jun 5, 2010 By: esco Member since: Jun 5, 2010
    #54
  15. QuickHomeBuyers

    QuickHomeBuyers UKBF Ace Full Member

    2,217 198
    No I dont need the links in email, send me the pdf or copy paste the information instead.
     
    Posted: Jun 5, 2010 By: QuickHomeBuyers Member since: Jan 9, 2010
    #55
  16. esco

    esco UKBF Contributor Free Member

    81 1
    THRIVING & EASILY RUN POST OFFICE ON BUSY ROAD
    BUSINESS LOCATION:
    Undisclosed West Midlands UNITED KINGDOM
    BUSINESS SECTOR:
    Retail
    TRADE TYPE:
    Post Offices
    SALE:
    Agent Sale
    LEASEHOLD:
    £89950
    BUSINESS DETAILS:
    • THRIVING & EASILY RUN POST OFFICE ON BUSY ROAD
    • RISING PO REMUNERATION OF £52,730 PER ANNUM
    • PLUS LOW KEY BUT PROFITABLE RETAIL TRADE OF £16,355 PA
    • NET PROFIT OF £38,000 PA - LOW OVERHEADS
    • BRAND NEW LEASE ON OFFER - 15 YEAR LOCK UP LEASE
    • RENT OF £8,000 PA - FULLY RPI TERMS
    • WAGE SAVINGS COULD BE MADE WITH HUSBAND & WIFE TEAM
    • IN BUSY PARADE OF SHOPS & BUSINESSES
     
    Posted: Jun 5, 2010 By: esco Member since: Jun 5, 2010
    #56
  17. esco

    esco UKBF Contributor Free Member

    81 1
    NEWSAGENTS
    WEST BROMWICH, WT £6,000, GP 20% + Lottery & Payzone, established in excess of 50 years, with our client for 6 years, well fitted & equipped shop, scope to develop further, F/H L/up retail & S/C flat, vendor will grant lease if required, Bus/Prop £250,000
    BUSINESS LOCATION:
    West Bromwich West Midlands UNITED KINGDOM
    BUSINESS SECTOR:
    Retail
    TRADE TYPE:
    Newsagents
    SALE:
    Agent Sale
    FREEHOLD:
    £250000
    LEASEHOLD:
    £69950

    BUSINESS DETAILS:
    WEST BROMWICH, WT £6,000, GP 20% + Lottery & Payzone, established in excess of 50 years, with our client for 6 years, well fitted & equipped shop, scope to develop further, F/H L/up retail & S/C flat, vendor will grant lease if required, Bus/Prop £250,000sav, Bus £69,950sav
     
    Posted: Jun 5, 2010 By: esco Member since: Jun 5, 2010
    #57
  18. esco

    esco UKBF Contributor Free Member

    81 1
    1492: THRIVING CONVENIENCE STORE BIRMINGHAM
    Phoenix Business Transfer Agents are delighted to place onto the market this thriving unopposed convenience store which has been established since1985. The business has been in the hands of the current owner since 2007 and he now wishes to sell due to other business interests. Services This very good business opportunity provides a large range of convenience products, an off license, and a cash point. Staffing The concern employs 2 staff. 0 are full time and 2 are part time. They are paid at the rate of £6 per hour. The total wage bill is £250 per week. All staff would stay on after a sale. Owners Role The owners’ role is very hands on and he works full time. Marketing The owner does no marketing for the business and he does not have a website. Competition As far as competition is concerned this business is unopposed within a 2 mile radius. Market The client base consists of local residents.
    BUSINESS LOCATION:
    Birmingham West Midlands UNITED KINGDOM
    BUSINESS SECTOR:
    Retail
    TRADE TYPE:
    Convenience Stores
    SALE:
    Agent Sale
    LEASEHOLD:
    £92000
    ANNUAL RENT:
    £6400
    BUSINESS DETAILS:
    Location
    This business is located in the Rednal area of Birmingham. It is within a very densely populated estate and is the only shop for some distance. It attracts all the local residents and school children who use the shop on a daily basis. The location has free parking directly outside and lies just off the main arterial road. Birmingham town centre is some 3 miles away.

    Business Details
    The particular highlights of the business are:
    - The owner may be prepared to accept staggered payments for the business, enabling the buyer to pay from profits although a lump sum sale would be more favorably considered.
    - No competition in the area.
    - A well established business.
    - Good and very loyal clientele.
    - Fully equipped business with favorable lease terms (see below) and spacious premises.
    - Turnover in excess of £520,000 with a net profit of £80,000. (See financial summary below). This is very impressive considering the credit crunch.
    - A business with great potential which has not been exploited because the owner has other business interests.
    - An easily run operation.
    - Good loyal well trained staff.
    - A good first time buyers business.

    History
    Phoenix Business Transfer Agents are delighted to place onto the market this thriving unopposed convenience store which has been established since1985. The business has been in the hands of the current owner since 2007 and he now wishes to sell due to other business interests.

    Services
    This very good business opportunity provides a large range of convenience products, an off license, and a cash point.

    Staffing
    The concern employs 2 staff. 0 are full time and 2 are part time. They are paid at the rate of £6 per hour. The total wage bill is £250 per week. All staff would stay on after a sale.

    Owners Role
    The owners’ role is very hands on and he works full time.

    Marketing
    The owner does no marketing for the business and he does not have a website.

    Competition
    As far as competition is concerned this business is unopposed within a 2 mile radius.

    Market
    The client base consists of local residents.

    Opportunities
    The concern has huge potential. In particular the turnover and profits can be increased by:
    • Increasing the marketing activity with direct mailings and local and internet advertising.
    • Increasing the opening hours to include later opening times.
    • Increasing the product line to include a larger range of products.
    • Becoming more efficient with staffing levels.
    • Working more hands on hours and saving on wages.

    Training and Handover
    The owner would be available for an extensive training and handover period for the benefit of the new owners if required. The Owner would also be happy for an on the job observation period to assess the business prior to offers being made.

    Property Details
    The premises are very spacious and measures approximately 40ft x 30 ft. The main shop area has a middle aisle and shelving along the walls and there are display fridges and cabinets. The Customer service point is to the front of the shop.
    To the rear is a store room. There are a toilet and staff facilities.

    Equipment with sale
    All fixtures and fittings and equipment are included in the sale price and are valued at £10,000.

    Financial Details
    The present turnover is £520,000 per annum with a gross profit of 25% and a net profit of £80,000. The wages are £12,000. The present value of the stock is £20,000 and the fixtures fittings and equipment are worth £10,000.
    In 2008, the turnover was £500,000. The potential turnover of the business within the next 2 years is forecast to reach £600,000 given the changes that are required to be made to the business. Full financial disclosure is available on request after viewings and the signing of a confidentiality agreement.
    Please note Phoenix do not guarantee the accuracy of these figures which are in many cases estimated and are not verified. Please do not rely on the accuracy of these figures and seek professional help before making any offers. Phoenix will not be held liable for any inaccuracies in these figures or any other statements contained in relation to this business.

    Trading Hours
    Monday to Saturday: 7am to 9pm
    Sunday: 10am to 8pm

    Tenure
    The original length of the lease was 4 years with 2 years remaining. The rent is £6,400 pa with a review in 2 years. The premises are council owned.
    Viewings
    The owners are available for viewings at anytime.

    Price: £92,000 plus sav
     
    Posted: Jun 5, 2010 By: esco Member since: Jun 5, 2010
    #58
  19. QuickHomeBuyers

    QuickHomeBuyers UKBF Ace Full Member

    2,217 198
    Without reading the others I can tell you this one has by far the most attractive figures.

    1. Watch for the lease, I am not sure but wouldnt be surprised either if the lease had problems when it comes to renewing in 24 months time.
    2. £80k net profit retail store would probably sell in a few hours time at this price. Check things carefully.
    3. Dont let potential figures fool you. Potential is just a potential.
     
    Posted: Jun 5, 2010 By: QuickHomeBuyers Member since: Jan 9, 2010
    #59
  20. QuickHomeBuyers

    QuickHomeBuyers UKBF Ace Full Member

    2,217 198
    Post office is good if you want a 9-5 business.

    Whenever you speak to vendors, make sure every figure you speak about is excl VAT. I have dealt with fools making a mess just before instructing the solicitos.

    Bunch of chavs I have dealt with, absolutely unprofessional.
     
    Posted: Jun 5, 2010 By: QuickHomeBuyers Member since: Jan 9, 2010
    #60
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