Discharged Bankruptcy and Setting up a travel agency

newlife16

Hi

I am hoping someone could help. I have been discharged from bankruptcy a few months back. My whole career experience has been in banking so it is now out as a career aspect. I have been doing a bit of affiliate work ( buttons in terms of income ) and the customers i have been referring on has asked why don't i set it up so I can sell directly myself instead of referring them onto other vendors... have built up a bit of a base... So have been speaking to family and they have offered to help put money towards a franchise ( I have done alot of research in this area) and ill pay what I can back to them each month from the income ( they just want low holidays and flights by the looks of it ) my question is can I do this as a bankrupt? Can I own my own travel agency ( technically) self employed and run it from home on my own as a banruptsy... my career prospects are low at the minute due to the nature of my experience and i dont want it all to go down the drain as I have years of sales and service. I want to try and now make a better life for me and my family.

Any help on starting a travel agency after being discharged bankruptsy would be much appreciated.

Bankround info, my bankruptcy was nothing to do with poor management of finance or bank accounts, never had a loan, credit card in my life nor have i ever been overdrawn, it was a property matter.

Thanks in advance!

mwarby

Some difficulties you might have a none BR might not
-Getting required insurance
-Getting bank account
-Getting trade accounts

National_Debtline

Hi newlife


I can't offer any tips per se on starting up a travel agency franchise. What I can say is that as a discharged bankrupt there are no restrictions on you taking up such an opportunity, whether you do so as a sole trader or limited company. Do bear in mind that if you have to seek any credit to help support the business within the next few years, your bankruptcy will make this more difficult.


In case you haven't already looked them up, the British Franchise Association (BFA) is an excellent source of support and information for would-be franchisees:


http://www.thebfa.org/


Good luck in your endeavours.


Dennis
@natdebtline