been offerd a partnership in a pc store

[Scotty]

Have you done any research into other shops in the area? Are they busy? Customer base? Running costs? It's a leap into the unknown. What does you gut say??

[mcpitman]

Just my 2p.



As previously said you need to research this alot.



Btw, 160 people passing the front door doesn't make any money, how many of those can you get in your shop daily? What's the average spend per customer?



How much do you want to earn as a minimum? What's the over head costs?



How will you pay yourself? Minimum plus dividend every year etc etc...



You need to do some sums and work it all out matey.

[Unilateral]

?275 a week. If that's all your earning I'd go for it anyway. If it all goes tits up then you can surely find another job that pays an equal amount.



Advertise well, undercut the shop opposite and do what you can to succeed.



I'd say the 160 people passing bares no relevance as the shop is specialist. It's not like they will be passing by and pop in for a loaf of bread.

[mcpitman]

Stephen.s13, on 08 September 2014 - 09:56 AM, said:


I need (Wage wise) ?275 a week as that's what I earn now. so If the company/store generates ?400 a week (Easily doable at just ?67 a day) that will pay my wage and all overheads with some money left over. A low average spend per customer would be ?20 (exl parts) so 4 customers a day... Seems to good to be true



Afternoon, a few quick queries that spring to mind.



Is ?275 per week your take home pay or pre-tax?



Also bear in mind you will need to make ?400 per week in profit not turnover.



Try and capitalise on the upcoming xmas market and secure some cashflow for the quiter months post Xmas.



If you are happy with the numbers, go for it! Good luck and all the best.



P.S. discount for forum members may help to turnover some ?'s at set up time.

[Scotty]

Glad you have decided to go for it. Nothing ventured nothing gained. At least you know you'll be using the Pound after 18th Sept!!! (Well not quite that soon) ;-)

PS think about a Facebook page and twitter account to get the word out.

[mcpitman]

m8internet, on 08 September 2014 - 05:06 PM, said:


That appears to be ridiculously low

I would be asking to see the Business Plan and its cashflow forecast



What m8internet said too.



It might only be ?700 to your prospectove partner, however from what you've said ?700 is alot of money to you.



Just be sure the numbers add up. If you invest 50% of start up monies does this make you a 50/50 partner so you get 50% of profits. Are you also liable for 50% of any debts should something go amiss....



I don't mean to come across negative,??just want you to be sure of all the in's and out's, up's and down's.



Again if all adds up go for it.

[Scotty]

This is sounding more like the Independence Refurendum every time a new post comes up!!!

[mcpitman]

Just be careful pal, draw yourself up a good list of question's and ask away. If nothing else it'll give the impression you have a rough idea what you are on about, ...



Remember if it sounds/looks too good to be true, sadly it probably is.



I have seen many posts by m8internet both on here and another forum. I'd listen to his advice, from what i can remember he has a world of business knowledge.

[Dr Bee]

Hi



This is very interesting. Can the other person - partner show you the figures of the take over company?



What is the gearing for the company? The annual turnover? Operating profiit? and Is it a limited company or partnership at the moment?



What are hiis plans for this start up? How does he sees the profits in 3 months, 6 months, 1 year, 3 years and more?



Ths are the questions I would ask and see what the response is.



Hope this helps. God Bless.

[conno57]

Sounds like a scam to me??you having to buy a job!