money worries

[phynbarr]

OK, I'm new here. I could have done with you guys years ago when my daughter was little but that was waaaay before the 'tinternet was invented.

so why am I here now? Well I am still a mum and I have yet to track down a divorceenet and you are women with oomph, get-up-and-go and know-how and I could do with some of all of that because, frankly I don't know where to start.

So here I am, in my late fifties having been dumped by the soon-to-be-ex as he went of with his secretary and pulling myself back up from the floor. Complete review of life is called for and I find that after many years of putting other first what I'd really like to do is go run a cattery.

OK, maybe a little mad catwoman is, but think about it. A new life in a new part of the country where I would self-employed and be able to work until I am too feeble (at which point I would employ young legs to do the hard work) where I would be involved in the local community and meeting like-minded people every day.

Don't think I haven't thought of the downsides, I have given this a lot of time and a lot of thought and I think it is worth my best shot

Now if I had the all funds from selling the house I could probably make it. But I will only have half. I have looked at every source of finance I can think of - banks, crowd-funding, mortgage companies the lot. They like my business plan, but they need more money from me

which is where you come in. My brain is much at the moment and whilst I am doing my best to pull myself together and move on I really, really don't want to miss out on some really obvious form of investment that will get me from zero to heroine.

Before I give up on this and retire to what ever I can pull together, have I missed something, anything which would give this idea legs

Oh and I really need to set up divorceenet for the growing crowd of ladies of 50+ who are becoming single. We're a growth industry looking for support and fellowship

How much do you need and how much are you putting in?

I can raise about half.

And that's basically the problem, I just hoped there was some tip or wrinkle that I'd missed

Thanks anyway

Have you looked into any grants you could be eligible for? A commercial mortgage for the purchase of the actual cattery? A business loan for start-up companies with the bank? Speak to a bank's business relationship manager and ask them for advice - if they can't lend to you at present then find out what you need to change in order to get assistance.

If no luck, you may need to scale down your plans somewhat eg look at doing it on a smaller scale initially, then expand in a few years once the business starts to make a profit.

I'm sure you've got a business plan etc in place, but the way to look at it is "if I was the bank, and it was my money, would I lend money to this woman and genuinely believe I will get my money back?" Which if you don't have experience of working with animals, qualifications, experience of self employment etc, they are unlikely to do. Can you work (even voluntary work) at a cattery locally now to get some experience and also to see if you would really want to do it forever?

Could you find someone to invest with you? Or check for local business/start-up grants?

OP
Do not start a cattery.
Go and work for a cattery whose owner is looking to sell within two years ....
That way by the time you need the funds to buy them out, you'll have a couple of years trading records under your belt and get a good commercial mortgage.

There are catteries closing as the market is pretty saturated and the costs are HUGE due to vet rules
but if you sound out who is looking to retire you have a rock solid plan.

Go for it.

Like your thought! :)

thanks