starting ltd company-need funding

confusedlittlebunny

property.advert wrote: »

Seen it on QVC late night shopping channel then ?

Seen what? They are for home use only. This is an industrial machine im referring too, completely different.......

confusedlittlebunny

property.advert wrote: »

This bloke wants a loan to buy a job !

Yet will not even put up the "£50 licensing fee's" himself.

Avoid, even before looking at a business plan.

IF you read my post No15 properly, I said its the laser machine cost causing me the MAIN funding problem!!!!

confusedlittlebunny

I have been focusing on a new machine, maybe a used one would be ok to start with, could i apply for finance, loan or a grant in the same way as im trying to do now?

Flyboy152

confusedlittlebunny wrote: »

I have a business plan and estimate my start-up costs to be £15-£20k, my knowledge, qualifications and experience in the field I wish to trade in are first class and i am confidence. and based upon my situation I mentioned in my first post I would like any positive suggestions? if their is no hope then I have to look at alternatives, I was merely asking for advice.....

Why a limited company?

Flyboy152

chalkie99 wrote: »

Possibly because only two months ago you were posting about how your ltd company had ceased trading with 40k of debts and how you were also considering personal bankruptcy because of your personal debts.

Now ask yourself, if you were a lender and someone with your record asked you to put up 20k with no input or risk on their part, what would you say?

Aah....just answered the question.

Savvy_Sue

confusedlittlebunny wrote: »

I have been focusing on a new machine, maybe a used one would be ok to start with, could i apply for finance, loan or a grant in the same way as im trying to do now?

You could. However, I'm not sure the answers would be much different. But what difference would it make to your start up costs?

The next question would be "are there many of these machines on the second hand market?" if the answer is yes, I'd be wondering why: is it possible that there's not as much money to be made from them as you've been led to believe?

Seriously, with every week bringing some new 'miracle' cure for ageing which doesn't involve surgery, and the following one bringing some scare story about the latest process, and this small thing called a recession / people losing their jobs left right and centre, are you SURE that this is the way to go?

Cynical, me? Certainly happy to age gracefully, no-one's getting anywhere near me with a laser without a VERY good medical reason! Not to mention medical qualifications.

confusedlittlebunny

Savvy_Sue wrote: »

You could. However, I'm not sure the answers would be much different. But what difference would it make to your start up costs?

The next question would be "are there many of these machines on the second hand market?" if the answer is yes, I'd be wondering why: is it possible that there's not as much money to be made from them as you've been led to believe?

Seriously, with every week bringing some new 'miracle' cure for ageing which doesn't involve surgery, and the following one bringing some scare story about the latest process, and this small thing called a recession / people losing their jobs left right and centre, are you SURE that this is the way to go?

Cynical, me? Certainly happy to age gracefully, no-one's getting anywhere near me with a laser without a VERY good medical reason! Not to mention medical qualifications.

Haha thank you sue for your advise. I could get a used one for approx £10k and they are rare to find, therefore, it would give me a fighting chance if i halved by set-up costs. But as you say, Im still in the same boat. From experience, yes, the demand is still very high and are 100% confident. I think this grant searching or bank loan maybe a losing battle even wih halving the cost...Hmmm....I wont give up

confusedlittlebunny

closed wrote: »

have you paid hmrc?

........Yes!

confusedlittlebunny

closed wrote: »

and creditors, and mortgage arrears?

........yes

stephenni1971

confusedlittlebunny wrote: »

Apologies Paul , i appreciate your just being homest with me.......

Start up cost are:

£18,000 Equipment (single unit)
£750 three months premises rent (plus £250 deposit)
£200 website set-up/design
£500 marketing/advertising
£50 licensing fee's
£500 consumables

Basically, its the single piece of equipment i require that is causing me the biggest problem. I have not had a good credit scoring since last oct 2010 and plan to repair this by getting back on my feet which may cause me problem obtaining credit so im desperate to find an alternative. All companies i have approached only offer the lease or hire purchase (based on a credit check of course) and will cost £800 per month to pay back but if i can get a loan and buy the machine then i would pay the loan.....(a high street bank repayment was £122 pcm on £20k subject to credit check) there is a huge difference in the £800 pcm (HP or lease) to the £122 (bank loan).....hope this is clear.....

The figures above count for 100% of your £20,000.

You have not allowed anything whatsoever for fitting out your unit, I would have thought you would need a reception area and a private room for treatments at least. £200 for a website is a ridiculously low amount as is the £500 for advertising figure you have. What about working capital, rates, electricity, signage, you will need a phone line installed, public liability and some sort of professional liability ( in the event you injured someone during a treatment ). Where have you allowed for all these costs???

Are you going to be the sole employee of the business? Can you commit to being in the unit six days a week, will you have to close for lunch etc etc.