£25k loan needed please help

wellywells

thanks mrmajika for the advice. I am going to wait until I get the money from my truck sale and pay off the finance on that then ill try a loan with a slightly higer interest rate

mrcow

wellywells wrote: »

So can we get back to the question asked please, whether or not you agree with it or not

Sorry, but no this can't be done. This is a money saving site.......not one where we encourage people who are already over their heads in debt to borrow more money that they simply can't afford to, to then throw it down the toilet.

Most of us do not have to stick our hands up its backside to know a turkey when we see it.

We're not posting here because we're trying to have a pop, but because, believe it or not, there are people out there who actually care about people being taken for a ride.

I asked you earlier what you were getting for your £25k, and from the sounds of it, you're getting access to an unspecified number of sales sessions aimed at people who have yet to be cold called from a database that someone has bought? Does your £25k include any guarantees from the company as to how many prospective clients they are going to supply you each year? Who is qualifiying thse people, or do you only have their word for it that these people are genuine? Have you ever had any experience of cold calling from databases........it's tough work, especially if you are calling individuals as opposed to b2b.....what if they only manage to get ten people in front of you in one year?........you're still going to be paying that loan back regardless of how many (if any) sales you make.

I still don't get what you gain by paying the £25k.......it seems like you're the only one with anything to lose?

iolanthe07

And you'll still be lying on the loan application form.

fc123

wellywells wrote: »

The club itself is aimed at individuals who have a large disposable income who believe in living for today. It also has schemes for the corporate side for companies to offer as an incentive, or potential clients etc.

This post caught my eye...not my usual board! But I felt I had to comment.

Please don't do this YET.
If you had £25k sitting in the bank now that was SPARE cash then I would say give it a go if you think it is a good business.

BUT this franchise will cost you £25k plus loan interest.
Do you have to pay for the advertising in your area? This could be thousands in the 1st 6 mnths.

We are now in a credit crunch in this country and many companies will be cutting back on expenditure in the coming year.

The quote above is pretty meaningless, the implication that there are plenty of high earners with cash to spare. But you won't find out how many there are until you start. I feel that there may be not as many target customers around as the company have led you to believe.

I'm not critisising your judgement at all OP, but I know of a couple who were conned out of £25k for a franchise after the fancy hotel presentation and hard sell.
They were experienced in business for 25 yrs and far from stupid.

Sorry to butt in but please reconsider, research this further.

narced

My $0.02 worth.

The kind of business you're talking about is exactly the sort of one that is going to suffer as a result of all the layoffs the City is anticipating as a result of the banks overexposure to off balance sheet losses. Luxury goods like expensive cars are always the first thing to suffer in a recession.

fc123

I just looked at the website but could find no info on the franchise arrangements. Do you store the cars in your local area ? etc

Anecdotal...but mentioned this to OH in passing and he said he had seen an ad for this recently in a local freemag (Brighton). Also there are a group of flashy 20 somethings in our area who drive around in said cars...could be linked...don't know if it is a franchise or not but OP could run a google for the club in Brighton area and speak to them...if genuine franchise.....

But OP gone I think.

I only post because I don't want him to be on the DFW board in 12 months time.

I hope it is genuine and true

blimeycharlie

Argh, I really hope he didn't do this.

I got suckered into a group20 franchise and it was the worst financial decision of my life.

To get a loan for it and have to pay interest is just terrible.... the MD of the company will not care, he just uses the franchisees as cash cows (as some of you seem to have spotted).

I admit, I was blinded by the flashy cars and the large profit figures he was showing (as were 30 others) but like someone else on here said... if it was that easy, why didn't they do it themselves?

Anyway, if anyone else comes across this thread i'd really advise you to visit https://www.vortex20.co.uk if you're considering investing in one of this guys businesses.