Serious Question :)

[JONNO_CELEBS]

If say for arguments sake you had really shit credit and lost a business in the past, do you think a bank would lend you........say....quater of a million £'s to buy an established flowing business? :)

Jonno B)

[*goddess*]

:( I think the bank manager would probly fall off the chair laughing at ya and then you'd have to deck em.

[JONNO_CELEBS]

Yeah but with a business plan and show the books at a very good turnover, 12 years est and with 7 years experience in that trade I thought maybe personal credit shit would'nt be a factor? :unsure:

Jonno B)

[manker]

no

[DanB]

You might need a massive dose of luck

[JONNO_CELEBS]

Yeah but this is an established business that's for sale including a flat above which is ocupied and has an awesome turnover already and a wide area of clientel which would otherwise have to travel at least a mile for a pack of fags or a paper etc :)

Oh come on, be posetive :)

Jonno B)

[*goddess*]

:) There's always a chance you could get lucky.

:smilie4: What's the worst they can do? Say no, you won't know unless you try.

:) The business plan and books are a very good idea tho.


:blink: You said you wanted serious answers.

[DanB]

Go and see them, what's the worse that can happen

[JONNO_CELEBS]

Well realistically this place is a little gold mine, seriously for the size of the place I bet there's no where for a 25 mile radious that has the same turnover, cept the city places, I dunno, unfortunately my mind is set in motion which usually means I'll be in debt within a week :rolleyes:

Jonno B)

Edit: @Dan.......They could say no and I'll most likely lose my job :(

[DanB]

Originally posted by JONNO_CELEBS@17 August 2004 - 13:41
Edit: @Dan.......They could say no and I'll most likely lose my job :(
The owners trying to sell up and move on then? :unsure:

Have youi got anyone with better credit thatn yourself that could jump in with you? I know what a hassle the shit credit is , I have the problem myself :(

[JONNO_CELEBS]

@JPF.....The only thing I could secure it with is the business it'self, it's a ltd company so it's safe :)
Thanks for the link :)

@Dan.......Yeah and they got some Pakistani bloke coming to look at it, well I'm not being rascist but we all know if that happens he will staff it himself :(

I like my job, never enjoyed work before, only been there a few months and now it looks like I'm fucked :(

Jonno B)

[email protected] Lloyds/Tsb don't like me, they send me lots of pretty pinky/red letters :frusty:

[DanB]

If i was you I would pull my socks up and find out pronto then

[*goddess*]

:01: Absolutely, create the business plan and go for it.

[manker]

There is absolutely no way on earth any lender would consider a loan of 250,000 pounds without collateral.

The business itself could not be considered as collateral as it is intangible, the bricks and mortar could be used as collateral but then by definition that is not going to be enough.

[JONNO_CELEBS]

@Janey........I have no idea where to start :lol:

@Manker.....Do you ever say anything positive? :rolleyes:
As far as any mortgage lender is concerned there is a building which is worth a lot of money and turns over easy enough to pay that off in 5 years, I'm not saying you're wrong, I'm just saying You a glass half empty kinda guy.......I'm not :)

Jonno B)

[Snee]

You don't think you could find someone willing to be your partner?

In this this venture of yours I mean.

[JONNO_CELEBS]

@Mr.S........No, for 2 reasons
1= No one is that stupid to let me play with money :rolleyes:
2=Very few people would accept less than 50% ownership and I would never have a 50-50 partenership, too much to go wrong.

Jonno B)

@JPF........What you mean "Tidy myself up?" <_< Cheeky git, I&#39;m always tidy......And I have a Chapps Ralph Lauren suit B)

[manker]

I gave a serious answer, as requested.

Sometimes I think positive but mostly thats about airy fairy stuff like sport and girls. If there is something serious being spoken of I&#39;m generally realistic rather than happy clappy :)

[*goddess*]

:) That&#39;s a good suggestion JPFugley

:unsure: do you have business advisors where you are Jonno? We do, they can help with the business plan and presentation.

:) You should also talk to the current owners, they may well prefer to sell to you.

[JONNO_CELEBS]

@Manker.........That&#39;s fair enough you just seem to block everything I say :blink:
Wer er, anyway thanks for the input :)

@Janey......Yeah kinda, I went to see them when I was 19 about a bike business and she just sat there gazing in my eyes :frusty:

Jonno B)

[*goddess*]

:rolleyes: that was fascinated horror at your ugly mug :P :lol:

;) Go back, maybe it&#39;ll be a guy this time







:helpsmile: Oh wait, would that help? :P

[manker]

Originally posted by JONNO_CELEBS@17 August 2004 - 14:10
@Manker.........That&#39;s fair enough you just seem to block everything I say :blink:
Wer er, anyway thanks for the input :)

@Janey......Yeah kinda, I went to see them when I was 19 about a bike business and she just sat there gazing in my eyes :frusty:

Jonno B)
Not everything, you pissed me off last night by making out as if it was OK to torture a crayfish because it didn&#39;t have feelings and on this occasion I know 100% that you will not be able to get that loan, and you asked for a serious answer.

Generally though I think you&#39;re a nice fella :)

I&#39;ve certainly nothing against you.

[JONNO_CELEBS]

Hey whoa whoa, I never said anything about torture, I&#39;m and have been a crab/lobster fisherman for years, I&#39;ve never tortured anything, I could never kill an animal of anysort for no good reason, you obviously never eat fish/shell fish/meat etc, if you do then how do you think it gets to your plate?.......People like me, you should be swearing about those that break the legs off crabs while alive and throw them back to regro and various other shit.
I&#39;m soppy as shit when it comes to life, plenty of people here will tell you that :)
And you can&#39;t say 100% I&#39;ll get turned down, my business faded out before, I have poor credit but never been to court or gone bankrupt.
I apreciate your opinion but think saying "No way period" is a little harsh :(

@Janey.......Yeah thanks for that :rolleyes: :lol:

Jonno B)

[manker]

Fair enough :)

I hope you get the loan too.

[JONNO_CELEBS]

:rolleyes: You just rolled your eyes at e did&#39;nt you <_<

Seriously tho, I would/could never harm anything for sport or fun :)

And thankyou I hope it goes well too :)

Jonno B)

[*goddess*]

:01: Go get em Jonno.


;) Either a masterful business plan or seduction of the bank manager should see ya right :D

[bujub22]

if ya got a house jonno thats collateral or any expensive cars etc.. some banks allow that depends on how you wana use it as collateral hell jus see if the&#39;ll work wid ya ,but i say u might have to ask fo less ,good luck tho&#33;

[Robert00000]

With your lack of collateral there are two possibilities open to you:

1) Visit all the banks and see if your business will qualify under the government backed &#39;Loan Guarantee Scheme&#39;. Follow the link below for more details.

http://www.businessadviceonline.org/bdotg/...furlparam=sflgs (http://www.businessadviceonline.org/bdotg/action/detail?r.l3=1073868460&r.l2=1074453326&r.l1=1073858790&r.s=m&type=RESOURCES&itemId=1074447105&furlparam=sflgs)

2) Get an investor to help partly or wholey finance the purchase in return for a share in the business. You may not like the idea of someone else obtaining a substantial stake in your business, but if you cannot get finance by any other means then you won&#39;t have a real choice.

[J'Pol]

Venture Capital as it were.

[JONNO_CELEBS]

Oh well I guess I&#39;ll give up on that idea :rolleyes:
Can&#39;t find out how much it&#39;s for sale for, obviously think I&#39;m just being nosey :frusty:

Guess it will be back on site for me then :(

Jonno B)

[Keikan]

I put all of my money in a jar none of this finacial institution bullshit

[JONNO_CELEBS]

You got quater of a million pounds in a jar? :blink:

Jonno B)

[DanB]

Originally posted by JONNO_CELEBS@18 August 2004 - 11:12

Can&#39;t find out how much it&#39;s for sale for, obviously think I&#39;m just being nosey :frusty:


Ask them, I mean they know you are interested don&#39;t they? :unsure:

[JONNO_CELEBS]

I did ask them, they did&#39;nt want to tell me and not tell the others, they told me who it&#39;s advertised with but both me and Baz have scoured the net and can&#39;t find shit :frusty:

So that&#39;s that I guess

Jonno B)

[DanB]

Damn, and I missed my train for that too :lol:

[JONNO_CELEBS]

:blink: ??

Jonno B)

[DanB]

Originally posted by JONNO_CELEBS@18 August 2004 - 11:24
:blink: ??

Jonno B)
I should have left but I posted instead, looked out the window and saw the train I was meant to catch leave without me :o

[JONNO_CELEBS]

DoH&#33;

So in a metaphoric kinda way we both missed the train?
That what you saying? :unsure:

Jonno B)

[DanB]

Originally posted by JONNO_CELEBS@18 August 2004 - 11:34
So in a metaphoric kinda way we both missed the train?
That what you saying? :unsure:
Possibly :blink:


Shall I just say yes ? :D


Now i have to go before I miss the next one too

[JONNO_CELEBS]

Next one? Damn your trains run frequently :blink:

Jonno B)

[Keikan]

Originally posted by JONNO_CELEBS@18 August 2004 - 03:20
You got quater of a million pounds in a jar? :blink:

Jonno B)
No just about 40 pounds

[JONNO_CELEBS]

£40 is&#39;nt a lot of help to me, erm........nor is 1/4 of a mil considering the asking price is £375,000 :helpsmile:
Spoke to my bank manager earlier (out of hours) and she said if the risk is good it has sod all to do with my credit rating :D (Eat that Manker :P :lol: )
So I&#39;m off to the Business adviser 2morrow to see if I can get it :D

Jonno B)

[DanB]

Originally posted by JONNO_CELEBS@18 August 2004 - 20:26
£40 is&#39;nt a lot of help to me, erm........nor is 1/4 of a mil considering the asking price is £375,000 :helpsmile:
Spoke to my bank manager earlier (out of hours) and she said if the risk is good it has sod all to do with my credit rating :D (Eat that Manker :P :lol: )
So I&#39;m off to the Business adviser 2morrow to see if I can get it :D

Jonno B)
Told you to go for it :D

Now for my advice I went a 5% stake :01:

[JONNO_CELEBS]

Originally posted by danb@18 August 2004 - 19:33

Told you to go for it :D

Now for my advice I went a 5% stake :01:
You went? a 5% steak?.......Fillet? :P

Dan, if I get it I&#39;ll send you a free case of beer :01:

Jonno B)

[Snee]

It&#39;s for killing vampires, silly.

[DanB]

Damn keyboard malfunction <_<


free beer, cheers :01:

[Robert00000]

Originally posted by JONNO_CELEBS+18 August 2004 - 19:45--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (JONNO_CELEBS @ 18 August 2004 - 19:45)</td></tr><tr><td id='QUOTE'> <!--QuoteBegin-danb@18 August 2004 - 19:33

Told you to go for it&nbsp; :D

Now for my advice I went a 5% stake&nbsp; :01:
You went? a 5% steak?.......Fillet? :P

Dan, if I get it I&#39;ll send you a free case of beer :01:

Jonno B) [/b][/quote]
Don&#39;t forget to ask about the &#39;Loan Guarantee Scheme&#39;, it&#39;s there for people who don&#39;t have the necessary assets to provide as security.

[JONNO_CELEBS]

@Dan.......I said a long while ago I owed you a drink :rolleyes:

@Robert......Yeah I will ask, I&#39;m not jumping into this but I do have to be quick, altho I&#39;m looking more at a mortgage than a loan :)

I know this sounds stupid but I could never remember, Gross profit is the profit before electric,wages etc right?
Net is whats left after everything is paid yeah?

Jonno B)

[DanB]

Did you? :unsure:



/me thinks he should pretend to remember :01:

[JONNO_CELEBS]

Yeah, can&#39;t remember why, I think it was at xmas, something to do with that song :lol:

Jonno B)

[manker]

Originally posted by JONNO_CELEBS@18 August 2004 - 20:26
£40 is&#39;nt a lot of help to me, erm........nor is 1/4 of a mil considering the asking price is £375,000 :helpsmile:
Spoke to my bank manager earlier (out of hours) and she said if the risk is good it has sod all to do with my credit rating :D (Eat that Manker :P :lol: )
So I&#39;m off to the Business adviser 2morrow to see if I can get it :D

Jonno B)
As I said yesterday, I hope you get it, Jonno.

There are many reasons that I think it is more than a little difficult for an individual with no collateral to be able to get a substantial loan but I chose not to go into them. Partly because it&#39;s boring, partly because I usually get paid for work akin to that but mostly because I&#39;d already pissed all over your enthusiasm and felt a bit guilty because I was a bit of a dick.

I sincerely hope you get this loan and will derive no pleasure if you don&#39;t. All the best :)

[JONNO_CELEBS]

Well I&#39;m probably over worked up but believe me, when it comes to aquireing things like that once it&#39;s in my head I can get it, I usually do :)
Odds are always stacked against me and I&#39;m a very bad loser :lol:
I want it, I&#39;m going for it and I will get it one way or another :01:

And thankyou :)

Jonno B)

[bigboab]

Jonno&#33; £250,000 could hardly buy you an ex council flat in London. Go for it mate. ;)

[JONNO_CELEBS]

Read up a little Bob, I was underestimating a little :frusty: :lol:

Jonno B)

[bigboab]

Change my post to an ex council semi in London then. ;)

[JONNO_CELEBS]

:lol: Man you can get a farm for that here :lol:

Jonno B)

[bigboab]

Now there is an idea Jonno. A fish farm. You could employ Snny to collect any stray ones. :lol:

[Tip the Slacker]

Quick tip, don&#39;t employ any slackers :rolleyes:

[JONNO_CELEBS]

Originally posted by bigboab@18 August 2004 - 23:00
Now there is an idea Jonno. A fish farm. You could employ Snny to collect any stray ones. :lol:
:lol: Great idea Bob :01:
But would Mr.S work for peanuts? :unsure:

@TTS........Erm, it has staff......I&#39;m one of them :rolleyes:

Jonno B)

[Spider_dude]

you could buy my house with 375k and still have 15k leftover.

[Snee]

Originally posted by JONNO_CELEBS+19 August 2004 - 01:19--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (JONNO_CELEBS @ 19 August 2004 - 01:19)</td></tr><tr><td id='QUOTE'> <!--QuoteBegin-bigboab@18 August 2004 - 23:00
Now there is an idea Jonno. A fish farm. You could employ Snny to collect any stray ones. :lol:
:lol: Great idea Bob :01:
But would Mr.S work for peanuts? :unsure: [/b][/quote]
If they are golden peanuts, then yes.

[(>Zero Cool<)]

Originally posted by JONNO_CELEBS@17 August 2004 - 12:30
If say for arguments sake you had really shit credit and lost a business in the past, do you think a bank would lend you........say....quater of a million £&#39;s to buy an established flowing business? :)

Jonno B)
perhaps if when you visited said bank manager you went appropriately attired, say with a balaclava and a sawn off he may consider it :unsure:

[Snee]

Wot&#39;s a balaclava? :blink:


I thought that was a kind of kebab

[(>Zero Cool<)]

Originally posted by SnnY@19 August 2004 - 14:00
Wot&#39;s a balaclava? :blink:


I thought that was a kind of kebab
Definition: A Balaclava is a thin pull-over head and neck cover with eye slits for winter usage under a motorcycle helmet.

:ph34r:

rather worringly when I googled balaclave this appeared

http://news.bbc.co.uk/1/hi/england/norfolk/3921257.stm

check the area

[Snee]

:unsure: Oh dear.



Btw, your pm box was full, but I was just trying to say thnks for the pic, so there you have it.

[(>Zero Cool<)]

Originally posted by SnnY@19 August 2004 - 14:17
:unsure: Oh dear.



Btw, your pm box was full, but I was just trying to say thnks for the pic, so there you have it.
np ;) , it&#39;s my wallpaper just now, thought it may appeal to you :)

[Snee]

It&#39;s a good one.

[JONNO_CELEBS]

Ok so that did&#39;nt work :frusty:

My own bank wont due to poor history with them <_<
But she gave me a few avenues to explore (don&#39;t&#33; ,<_< ) so I&#39;m not done yet :01:

Jonno B)

[bigboab]

Originally posted by JONNO_CELEBS@19 August 2004 - 20:37
Ok so that did&#39;nt work :frusty:

My own bank wont due to poor history with them <_<
But she gave me a few avenues to explore (don&#39;t&#33; ,<_< ) so I&#39;m not done yet :01:

Jonno B)
I wont. ;) But I thought about it. :lol: :lol:

[JONNO_CELEBS]

:frusty: You gotta stay off the Port Bob :lol:

Jonno B)

[Snee]

Originally posted by JONNO_CELEBS@19 August 2004 - 22:39
:frusty: You gotta stay off the Port Bob :lol:

Jonno B)
Yeah, them sailors have funny tastes.

[bigboab]

Originally posted by SnnY+19 August 2004 - 20:40--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (SnnY @ 19 August 2004 - 20:40)</td></tr><tr><td id='QUOTE'> <!--QuoteBegin-JONNO_CELEBS@19 August 2004 - 22:39
:frusty: You gotta stay off the Port Bob :lol:

Jonno B)
Yeah, them sailors have funny tastes. [/b][/quote]
:lol:

Here we go with the old Seaman Staines jokes again. :rolleyes:

[j2k4]

Jonno-

Has it occurred to you to visit your banker with your seller in tow?

He could vouch for you and the business at the same time.

Don&#39;t laugh; think about it for a moment or six.... ;)

[JONNO_CELEBS]

I would but I need to find out if I have any chance, my bank said no period, I apreciated her honesty cos at least I know, I don&#39;t want to start proceedings and business plans etc if it wont make any difference :) See what I mean ? :)

Jonno B)

[JONNO_CELEBS]

:01: I got Backing&#33;&#33;&#33; :01:

Now just to look over all the figures and decide if it&#39;s viable or not :01:

I told you, if I want it,........... I get it :D

Jonno B)

[Snee]

Happy for you, Mr J. :D

[j2k4]

Originally posted by JONNO_CELEBS@21 August 2004 - 14:37
:01: I got Backing&#33;&#33;&#33; :01:

Now just to look over all the figures and decide if it&#39;s viable or not :01:

I told you, if I want it,........... I get it :D

Jonno B)
Nice&#33;

Let us know.

[J'Pol]

I am really pleased for you mate.

I really do hope the figures add up and it is a viable business. Make sure you get a decent professional to look at the numbers. It really is worth it in the long run.

Oh and in answer to your earlier.

Turnover is what the business takes in.

Gross Profit is the Turnover minus Cost Of Sales (buying the things you sell).

Net Profit is Gross Profit minus other expenses including, electricity, vehicles, wages etc (including your own drawings).

What you are really interested in is the Net Profit and the Drawings (or personal salary). Turnover and Gross Profit don&#39;t really mean anything to you at this stage.

Bottom line (pardon the pun) is that Drawings are what you take to live on and Net Profit is what you leave in your business. Oh and bear in mind that you will need either a line of credit at the cash and carry, for stock. Or some cash for stocking up. I assume (but you shouldn&#39;t) that the stock in the shop is included in the asking price. If not, make sure it is.

Once again Best of British mate.

[JONNO_CELEBS]

Yes the stock is included :) 35 grands worth :ph34r:

Had a look at a few figures like turnover etc, also the Lotto turnover and profit is really high, plus the lotto brings so many people in, situated in amoung 5 very large (150+ houses each) estates and is the only lotto place for 1.5 miles :)

Jonno B)

[JONNO_CELEBS]

Oh I ain&#39;t gonna be doing this for peanuts :D

Jonno B)