J
James Fords
- Original Poster
- #1
Hello All,
I am hoping that someone will be able to help me to save my
business and life's work.
I have been trying to get an investment of £100,000 to
£130,000 for the last two years without success.I have
spent almost £5000 with various agents (£1500 to one in particular) who assured me that
they will find an investor for me, each charging me up to
£500 with the promise of second mortgage. None of whom
delivered on their promise.
I am looking for someone who genuinely wants to help and gain
their investment back with interest afterwards.
Reason why capital investment is needed
In 2013 I commenced building works to increase the capacity of
the restaurant from 70 to 120, improving mine and my
staff’s accommodation and to free up more rooms for
customers and open a tearoom.
The initial plan was to commence the extension utilising the
funds held in the company and then obtain the balance by way
of a further advance from the company’s bankers Lloyds
Bank Plc, secured on the company’s assets. Lloyd's
Bank Plc promised a loan of £570.00 originally, but
released £454,000 based on a 2008 valuation. Their loan
adviser assured me that once planning to build was obtained,
finance would be available.
This financial support was not forthcoming and the building works
have been funded from on-going trading.
This policy has resulted in the following:
· The building works have been delayed for almost a year
which has impacted on the trading performance of the
company. The number of table covers, room bookings and
wedding receptions has reduced significantly
· The business does not have the working capital to launch
a marketing campaign to promote the new and updated
facilities.
Since 2013 I have raised small amounts from here and there which
enabled the building works to be completed. Due to the
effects of not having enough funds there is also a small
amount of cosmetic work still to be finished. (Painting
building façade etc)
Secured Creditors
The fixed assets of the business were last valued at £620,000
to £650,000 in April 2008 for the purposes of the company
securing funding from its current bankers Lloyds Bank Plc. A
planning consent would add another £90.000.Since then
planning permission to build a four bedroom house with a
basement has been approved.
(I have decided wait on the house build now until I saved
enough from Bombay Brasserie.)
My mortgage is now £330,000, plus I owe £70,000 to few others.
My original mortgage was £454,000, and since then I have paid
a significant amount off that mortgage.
(Recent value came unfairly much lower then it should have been I had to do for a 2nd charge company)
I have also invested £160,000 since I took out the mortgage
which will definitely have added to the value, including an
extension to the kitchen, the dining area and a function
room for 100 guests which also will be licensed for wedding
ceremonies, which is almost complete.
Future plans
If I secure investment, I will use it to:
Upgrade the restaurant interior and streamline the kitchen so that I
will be able to take on orders for take-away and expand the
business in that direction.
Finish off the function room and advertise that it is available for weddings
Refurbish the hotel rooms and sell them on booking.com
Have an advertising blitz in newspapers, on social media and leaflets.
About me
I am extremely dedicated to my business and I have worked 14
years straight without a single weeks holiday, six or seven
days per week, Christmas, New Year and all the hours needed.
I have invested everything I had into my business and fought
extremely hard to make it through the recession.
Unfortunally, due to circumstances beyond my control, if I
don't manage to find someone to invest to a lump sum
very soon I will lose everything, and my community will lose
an employer.
My business is not just a means of finance, it is my life and
my passion, and I can't even think if walking away from
it.
My background
I purchased Truffle’s in 2003 turned it into a fine dining
restaurant with 6 rooms. In 2013 I also converted two of my
hotel rooms into a tea room & Ice cream parlour under
the name of Bruffles, serving homemade meals, cakes and ice
cream.
After many years of successfully trading as an English fine dining
establishment the recession hit and people started to reduce
their spending on dining out, frequenting the many cheaper
pub restaurants which served cheaper, poor quality and
pre-packed food. I decided to stop competing with them and
instead changed Truffles into a different type of restaurant
altogether.
I grew up in Bombay and have always adored the spiced and
fragrant food of my childhood, yet was constanty
disappointed by the inauthentic dishes served up in
“Indian” restaurants in the UK. I felt that I wanted to
show people the real flavours of India but with a
twist.
In April 2016 I relaunched my restaurant as “Bombay
Brasserie,” combining my passion for Indian food food
and my love of British ingredients to create a unique and
innovative modern and yet authentic Indian cuisine, and it
is already taking off as word gets around and I am
absolutely sure that it will be a success. Unfortunately,
the recession has finally caught up with me, and I will soon
be unable continue trading unless I find an investor to help
carry my business forward and upwards. I very much hope that
someone will come forward and offer a partnership that will
be mutually beneficial.
Thank you very much for your time.
If you any of you need more info on this business I will be happy provide
Please help me find an invester.
I am hoping that someone will be able to help me to save my
business and life's work.
I have been trying to get an investment of £100,000 to
£130,000 for the last two years without success.I have
spent almost £5000 with various agents (£1500 to one in particular) who assured me that
they will find an investor for me, each charging me up to
£500 with the promise of second mortgage. None of whom
delivered on their promise.
I am looking for someone who genuinely wants to help and gain
their investment back with interest afterwards.
Reason why capital investment is needed
In 2013 I commenced building works to increase the capacity of
the restaurant from 70 to 120, improving mine and my
staff’s accommodation and to free up more rooms for
customers and open a tearoom.
The initial plan was to commence the extension utilising the
funds held in the company and then obtain the balance by way
of a further advance from the company’s bankers Lloyds
Bank Plc, secured on the company’s assets. Lloyd's
Bank Plc promised a loan of £570.00 originally, but
released £454,000 based on a 2008 valuation. Their loan
adviser assured me that once planning to build was obtained,
finance would be available.
This financial support was not forthcoming and the building works
have been funded from on-going trading.
This policy has resulted in the following:
· The building works have been delayed for almost a year
which has impacted on the trading performance of the
company. The number of table covers, room bookings and
wedding receptions has reduced significantly
· The business does not have the working capital to launch
a marketing campaign to promote the new and updated
facilities.
Since 2013 I have raised small amounts from here and there which
enabled the building works to be completed. Due to the
effects of not having enough funds there is also a small
amount of cosmetic work still to be finished. (Painting
building façade etc)
Secured Creditors
The fixed assets of the business were last valued at £620,000
to £650,000 in April 2008 for the purposes of the company
securing funding from its current bankers Lloyds Bank Plc. A
planning consent would add another £90.000.Since then
planning permission to build a four bedroom house with a
basement has been approved.
(I have decided wait on the house build now until I saved
enough from Bombay Brasserie.)
My mortgage is now £330,000, plus I owe £70,000 to few others.
My original mortgage was £454,000, and since then I have paid
a significant amount off that mortgage.
(Recent value came unfairly much lower then it should have been I had to do for a 2nd charge company)
I have also invested £160,000 since I took out the mortgage
which will definitely have added to the value, including an
extension to the kitchen, the dining area and a function
room for 100 guests which also will be licensed for wedding
ceremonies, which is almost complete.
Future plans
If I secure investment, I will use it to:
Upgrade the restaurant interior and streamline the kitchen so that I
will be able to take on orders for take-away and expand the
business in that direction.
Finish off the function room and advertise that it is available for weddings
Refurbish the hotel rooms and sell them on booking.com
Have an advertising blitz in newspapers, on social media and leaflets.
About me
I am extremely dedicated to my business and I have worked 14
years straight without a single weeks holiday, six or seven
days per week, Christmas, New Year and all the hours needed.
I have invested everything I had into my business and fought
extremely hard to make it through the recession.
Unfortunally, due to circumstances beyond my control, if I
don't manage to find someone to invest to a lump sum
very soon I will lose everything, and my community will lose
an employer.
My business is not just a means of finance, it is my life and
my passion, and I can't even think if walking away from
it.
My background
I purchased Truffle’s in 2003 turned it into a fine dining
restaurant with 6 rooms. In 2013 I also converted two of my
hotel rooms into a tea room & Ice cream parlour under
the name of Bruffles, serving homemade meals, cakes and ice
cream.
After many years of successfully trading as an English fine dining
establishment the recession hit and people started to reduce
their spending on dining out, frequenting the many cheaper
pub restaurants which served cheaper, poor quality and
pre-packed food. I decided to stop competing with them and
instead changed Truffles into a different type of restaurant
altogether.
I grew up in Bombay and have always adored the spiced and
fragrant food of my childhood, yet was constanty
disappointed by the inauthentic dishes served up in
“Indian” restaurants in the UK. I felt that I wanted to
show people the real flavours of India but with a
twist.
In April 2016 I relaunched my restaurant as “Bombay
Brasserie,” combining my passion for Indian food food
and my love of British ingredients to create a unique and
innovative modern and yet authentic Indian cuisine, and it
is already taking off as word gets around and I am
absolutely sure that it will be a success. Unfortunately,
the recession has finally caught up with me, and I will soon
be unable continue trading unless I find an investor to help
carry my business forward and upwards. I very much hope that
someone will come forward and offer a partnership that will
be mutually beneficial.
Thank you very much for your time.
If you any of you need more info on this business I will be happy provide
Please help me find an invester.
