Starting a business, ideas!

[aaron1867]

After a long period of trying to sell my 49% in another business (website) I am nearing the sale of it. I actually have been attempting to get rid of it for 14+ months as it has been problem after problem with people I would rather not deal with. I was a pretty silent partner in the business just dealing with admin little bit of accounting and only bought in at the last minute in 2010, because I knew how profitable the business was.

I am keeping the business name and sector under wraps as I do not want people to cast opinion of me from this, although some people do know what I do own. It's simply a social media network for people to interact, etc.

As mentioned, I don't want much to do with it, I have made lots of money, but I do not get that feeling from it where I think I would from elsewhere, like having own premises, name, brand, etc, etc.

People have mentioned doing something you are good at or similar, but I don't really know either, whilst also not getting involved with luxuries. I have thought about numerous ideas, but really would enjoy doing something with clothes/electricals/marketing, but what could people suggest?

You can look at market research of X, Y and Z sector, but would really like opinions of people of Blonde people who are in and around business. I'd like to be more hands on etc.

Any comments appreciated.

[leethefish]

property renovation.....


www.ljwcarpenter.co.uk

[outragous76]

Something that interests you, the rest will follow

[George2Loose]

pokerbay.org

[aaron1867]

pokerbay.org

[The Camel]

Football tipping website.

[corkeye]

What are you good at? Are you arty? What's missing in your area? How much budget do you have to get started?

[Tal]

Football tipping website.

There really should be a sealed envelope somewhere for that response, such was its inevitability.

I still laughed, tbh



In all seriousness, what is your driver? Do you want to find something that you are personally interested in? That you want to make a lot of money quickly in? That you want a steady wage from? That you want to invest a lot of time in? That you can expand? That you can hire and fire?

This will determine sector as much as anything else.

[aaron1867]

Football tipping website.

There really should be a sealed envelope somewhere for that response, such was its inevitability.

I still laughed, tbh



In all seriousness, what is your driver? Do you want to find something that you are personally interested in? That you want to make a lot of money quickly in? That you want a steady wage from? That you want to invest a lot of time in? That you can expand? That you can hire and fire?

This will determine sector as much as anything else.

Money is nice, but satisfaction is nicer, imo.

Like mentioned above I own 49% of a business that I have not much to do with & earn a lot of money from, but I have not help us improve, increase sales/subscriptions or improve in any other way, neither did I help create the business, having bought someone out in 2010 as  the lad who was selling was in a hurry and was moving to NZ.

I'd like to start something from scratch and be my own brand, but it doesn't come easy and I know for a fact I will earn much less with something new or a new job, than I will now. But satisfaction would be that I have created something that is achieving profitability. So I have a few ideas, but with every business you may good at accounting at marketing, but you are absolute rubbish at some other dynamic in the business that is really important. I would like marketing/sales/clothing/fashion as something I want to do, but I have no fashion sense really, but I would like to be on the business side of it, help with new ideas and so on, help set up a new brand. I'd love to set up a new shop for clothes and so on, but not really ideal at the moment, but that is where I am looking at the moment, something a bit different hopefully!

However as things (and updates) go I received an offer weeks ago for my 49% which is by far a decent proposal money wise, but still a bit out. We moved on and on and today I am nearly at acceptable offer, however I am losing a lot of money on the deal, because I would make a lot more if we sold the business 100% and got the domain name sold too. But the 51% holder will not budge as he started up from scratch, but he does not have the money to help the business get the next level and believe me, the next level is massive and I think the people who are buying my percentage can do that. The website needs a total upgrade and so do other aspects of the business and there is £20k in the pot to do it with out of the profits, but neither of us want to use it and it will cost a lot more than £20k! The bank has offered us a loan which covers the potentials of the 'upgrade', but I don't want a loan, it is in my view out of the question.

So lots of money lost in this deal, because we can't sell the whole business. However I am set to make a lot of money on the deal as it is, but lose out on previous.

I also had to delete my facebook last night to help move this deal along, a bit annoying.

Also mentioned above I said that I had been actively looking for new things and as it goes things have gone along. I have been talking to numerous people about clothing and website stuff, had to laugh when I enquired about a domain name a few days ago:

I sent an initial enquiry to start the ball rolling and got this response:

Hi Aaron,

Thank you for your interest in the domain name,  XXX.com.

The current asking price for XXX.com is $69,800

We can only guarantee your quoted price for 7 days. All sales are on a first come, first serve basis.

If you are serious about purchasing this domain, I encourage you to secure it today.

Simply click on the following link:

http://www.buydomains.com

The purchase process is quick and secure; use any major credit card, paypal or bank wire
This is a one time cost for complete ownership and control over this domain forever
If you have any questions or would like some personal assistance, please feel free to contact me directly at 781-839-2856.
I look forward to assisting you!

Best Regards,
Pat

Patrick Calvoni

Senior Sales Executive

I replied...

Hello,

Thank you for your swift reply.

After looking at the website & potential for my business, there is not way I will be purchasing this off you at that price as I did not value you it at anywhere near that mark.

I was looking to purchase for around $7k, happy to discuss this further, but will be nowhere near 5 figues mark.

Thanks

Aaron


They reply...

Thank you for getting back to me. I brought this back in and I think if you can meet us at $9,000 and do a same day purchase we can make it work.

 

Please let me know

 

Thx

 

Patrick Calvoni

Senior Sales Executive, BuyDomains.com

A division of NameMedia Inc.

781-839-2856- Direc

Crazy horses.

[Boba Fett]

Brags ITT

[The Camel]

Should have offered $100, you would have got it for $125 probably.

[Tal]

Are you Mike Ashley? Did you just buy Republic?

[aaron1867]

Are you Mike Ashley? Did you just buy Republic?

I don't understand why Sports Direct are buying everything actually, surely too much?

They have already bought a few JJB stores & now Republic. The stores Republic & SD in Leeds and Sheffield are pretty close to each other too.

[scotty77]

FWIW I think if you think the potential buyers will really turn your current business into a monster, then try and negotiate a saver 10pc or so and keep on being a silent partner?

[celtic]

They went from 70k to 9k just like that?

Ate they legit? Seems they have pretty poor negotiation skills.