Talk

Advanced search

financing a lease / buying a business - how?!

(1 Post)
columbolover Wed 19-Aug-09 20:43:56

Hi

I've been keen to foray into the world of self employment for some time, (and am more convinced of this the more I read on here!)
I know it'd be hard work but I really want to be my own boss.

I'm starting a course to do with running a business, via business gateway (Scotland) in a couple of weeks.

I like the idea of buying an existing business, rather than starting my own as I would otherwise not know where to start - am thinking of looking into leasing a small clothes / underwear shop, and in fact have seen one that looks just the job.

BUT: I have no way of financing this. I don't even have any savings to pay for initial stuff like an accountant to assess a business's books

If any of you have bought a business and leased its premesis could you tell me how you went about it, and whether I could expect the bank to lend me any money!

I was thinking of releasing a small amount of equity on my house and asking my bank for a business loan. Please tell me if I'm absolutely barking! grin Or, equally, if it can be done another way!

Also, I work part time in a v comfy (but bit boring now) public sector job and have a 2 year old ds, but am just determined to make the leap into the unknown, even though I know this isn't the best time probably.

Many thanks for any advice smile

Join the discussion

Join the discussion

Registering is free, easy, and means you can join in the discussion, get discounts, win prizes and lots more.

Register now