looking to start up catering business on ind.est

motorguy

butyourwarm wrote: »

van and pitch all included.weekly return is turnover.owners come from about 40 miles away everyday and have been there for 2 years.the pitch has been on b and q for many years now.they have an evening business which they want to focus on.with that and the travelling costs they have said they are looking to sell.obviously this is just from their mouths so take with a pinch of salt.but after doing some sums ourselves last night we figure to be better off by nearly double what we are at the moment.myself and wife are both in jobs where we dont get to see each and family time is very rare and believe this venture would benefit that side of things too.

2 years is usually the point by which people who have a non profitable business - or one that is generating massive hours for little return throw the towel in, so i would be very very cautious.

These days are people more likely to sell a goose thats laying golden eggs or a pup they want rid of?

motorguy

Annisele wrote: »

Separately, do you have access to £25k? Business loans aren't all that easy to get at the moment, particularly with a less-than-perfect credit history.

PLUS, you need to factor in the repayment of that loan - over 5 years the repayments will be over £500 a month.

butyourwarm

thanks for all the replies.i take on board all thats said.i think with out seeing the books we cant really make a proper informed decision on this.and i`m not going to jump head first into a 25k loan without the facts.i will be getting in touch with the owners this week to arrange a meeting and will try and keep this thread updated as i go along.