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(Light Hearted) Business Opportunity

junior

By junior
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junior Veteran

junior

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Any of our more well off forum members got a spare £30k laying around? I was thinking of Mark99 after he posted a picture of his back garden the other day?

 

There seems a huge opportunity for another Coal/Fuel boat in London at the moment as they are at least 2 boats down compared to last year. Almost daily there are posts on Facebook from people desperate for fuel/coal/gas.

 

For the last 6 months I have been checking the back of my sofa and the returned coin slot of every vending machine I pass, but alas I can't find the money yet! I have the option of putting my own boat up for sale, but that wouldn't happen overnight and wouldn't happen quick enough I expect.

 

Does anyone want to invest in the boat/buisness and I'll work it whilst gradually becoming a shareholder. When my own boat is sold I would then buy the remaining shares? :-p

 

Gosty Hill is available and has been for sale for 3 years at least I think, so there must be a deal to be done on the asking price! I'm also trying to find out what the score is currently with Archemedies, anyone know?

 

I realise this will be met with ridicule and piss taking, but as much as I am being light hearted, if someone does have £30k I'm ready to go!

Edited by junior
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junior Veteran

junior

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I'm sure it's a hard life, with not much reward (monetary that is), but good luck!

Bob

That's ok, I'm not really after much reward and have no ambitions to get rich. I just like to go boating from dawn to dusk every day and at the moment I see my current job as a hindrance to that.

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Sabcat Rising Star

Sabcat

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I can see the appeal of making a living on the cut but that strikes me as a massive amount of properly hard work. Apart from the job basically being moving (large amounts) of crap on and off a boat you're going to spending your time dealing with people who live on boats and they're frankly weird.

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junior Veteran

junior

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Ok, being hard headed, what's in it for the investor of the £30k?

 

Why would an investor want to put £30k of cash into this new business, rather than leave their £30k where it is earning perhaps £3k a year at virtually no risk?

 

 

MtB

£3.5k a year? Nah, just a cut of the profits I guess plus the boat as an asset until I pay it off. Maybe a lump sum final payment.

 

If this were Dragons Den (que lots of "I'm out") I'd stand up and say that I have all the time and effort in the world available but I need help with the setting up costs and someone with a business head to learn from.

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Kwacker Rising Star

Kwacker

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I'm afraid a one-man business is a very shaky proposition, especially with all the shifting / lifting. Do your back in - or anything for that matter and you are screwed, unless you want to pay all your profits into insurance.

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Athy Veteran II

AthyDonate to Canal World

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I don't really have a face for television.

As they used to say about the presenter Adrian Love, the perfect radio face, eh?

It's not a beauty contest, you know. You only have to look at a few of the past and present dragons to realise that.

 

At the moment you have (I assume) a fairly well paid job. Keep saving hard and see how much you've got in a few months' time, unless a sponsor comes along.

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WJM Veteran

WJM

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Junior - you need an investor to lend you £30k with £11k repayments each year for for three years. Given that you can live in the boat, could you live on, say £11k per year? If you can, can you see a way to bring in £24k (£22k plus £2k contingency) over and above your costs? What would you need to turnover? about £50k per year? or £1000 a week.

 

It could stack up. Your investor would have the security of first claim on the boat itself if you defaulted. And at the end of the three years you have yourself a boat and a business with paid-for premises.

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junior Veteran

junior

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At the moment you have (I assume) a fairly well paid job. Keep saving hard and see how much you've got in a few months' time, unless a sponsor comes along.

In all seriousness, that's the plan. But judging by what is going on in London at the moment, there is money to be made by the first person to pop up with a coal boat. I doubt it will take long so I was wanting to get in first!

Junior - you need an investor to lend you £30k with £11k repayments each year for for three years. Given that you can live in the boat, could you live on, say £11k per year? If you can, can you see a way to bring in £24k (£22k plus £2k contingency) over and above your costs? What would you need to turnover? about £50k per year? or £1000 a week.

 

It could stack up. Your investor would have the security of first claim on the boat itself if you defaulted. And at the end of the three years you have yourself a boat and a business with paid-for premises.

Congratulations, I'd like to offer you the job of my business advisor.

 

Plus I would have the money from the sale of my current boat at some point, which I could either pay directly to the investor in one lump sum, or use to live off for two years whilst all monies earned by the fuel boat go to the boss!

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Alan de Enfield Veteran II

Alan de Enfield

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WJM, on 24 Sept 2014 - 4:11 PM, said:WJM, on 24 Sept 2014 - 4:11 PM, said:

Tell me more!!!!! I was recently offered 0.65% on £100k

 

You can get up to 10% in Cambodia.

I'm getting 5% on £60,000

 

0.65% you didn't do your research - Halifax Tracker Bond gives 1.2% above base rate (currently 1.7%) and when the rates rise at the end of this year or early next year your rate goes up by the same amount.

Edited by Alan de Enfield
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Athy Veteran II

AthyDonate to Canal World

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Buy a house to rent out like I did, in 1998.

 

smile.png

 

MtB

 

 

P.S. Or better, more than one!

Yes, done that, though more recently. But we reckon on netting about 4% to 5% per year, based on the properties' purchase prices. If you are clearing 10%, either your middle name is Rachman or you are not using a property agent to do the admin and dirty work for you.

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Paul G2 Rising Star

Paul G2

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Do a search on "crowd funding". I don't know how well it would work in your instance, but it may be worth a try.

 

I still say you should approach the owners of Gosty Hill with a trade offer. A fairly priced boat like yours is a lot more salable than a commercial boat and they just might take your offer seriously. If the owners didn't want an outright trade, you could offer a small down payment (10% or so) with the balance secured by Albion and due upon the sale of Albion.

 

After three years the owners of Gosty Hill are probably open to offers. If you really want the boat and the lifestyle, talk to them and see if you can work something out. It never hurts to ask!

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MtB Veteran II

MtBDonate to Canal World

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Yes, done that, though more recently. But we reckon on netting about 4% to 5% per year, based on the properties' purchase prices. If you are clearing 10%, either your middle name is Rachman or you are not using a property agent to do the admin and dirty work for you.

 

I'm clearing 10% on my original capital invested by a long margin thank you! (Mainly due to the effect of gearing from the use mortgages.)

 

But neither the purchase price nor the current market value is the correct metric for measuring return on capital. For that one should use, in my opinion, the "realisable cash", which is the amount that would be left after selling up, clearing the mortgage and paying the capital gains tax.

 

MtB

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