Hi was wondering if anyone could give me some advise in buying an exsisting haulge firm.
Like who to talk to about funds to buy it etc.
brooksy69:
Like who to talk to about funds to buy it etc.
A bank.
Hope this helps.
Paul
brooksy69:
Hi was wondering if anyone could give me some advise in buying an exsisting haulge firm.
Like who to talk to about funds to buy it etc.
bill stobart and that tinky winky fella should be able to help and you’ll only need a couple of quid … 
Lol nice one paul 
but would i need a deposit? Or could i use what was in the firms bank as a deposit if I bought it off the owner? Or would they look at equipment an contracts the firm currently has?
brooksy69:
Lol nice one paul
From experience, there should not be a penny in the “firms bank a/c”, he or she or they, will have worked hard for that dosh, its theirs…
The bank will want a tad more than a deposit, they will want your house and your nutts, just for starters, that`s if they will even entertain you.
They will look at the “assets”, thats for sure, but, dont expect them to play ball, they are a nervous breed at the moment.
The major question they will ask, and, its one you should have asked yourself a million times already, why is it up for sale ?, is/are the owner wanting out because of old age, or, do they operate in a dodgy niche, and can see that the end is nigh ?.
If you have any money, don`t risk it at present, its a very dodgy time to be involved in haulage, buy some premium bonds, easy in, easy out, and tax free winnings 
I dont have any assets. Thanks to the ex misses! Worked for the guy 11 years an hes now looking at retirement but has a goodish business, old wagons but plenty of potential an room for improvement.
By sounds of it looks like an impossibility 
brooksy69:
I dont have any assets. Thanks to the ex misses! Worked for the guy 11 years an hes now looking at retirement but has a goodish business, old wagons but plenty of potential an room for improvement.
By sounds of it looks like an impossibility
It does brooksy69, unless the old boy wants to fund you, that`s a possibility.
Have a chat with him, see where his “thoughts” are, you never know
Good luck eitherway
He could train you & then pay you to run it for him?
Say goodbye to a good night’s sleep if you were to borrow the money to buy him out. Does he have fuel escalator’s built in to all his jobs?
if you have worked for him for a while, would he not give you an up front minimum payment and let you buy it on the drip the same as paying back the bank, even if he puts a bit of interest on it there may be quite a saving rather than go to a money lender for the lot. and if he will not entertain it perhaps things arnt as rosey as they seem, i think you will find thats what radciffes removals did. (storey in heritage commercials ish)
brooksy69:
Hi was wondering if anyone could give me some advise in buying an exsisting haulge firm.
Like who to talk to about funds to buy it etc.
If you are looking to buy your job, forget it, see if you can take one decent truck over and start off working for him.
You haven’t mentioned numbers but you did say old vehicles, (which need more maintaining) Let me presume there are 5 lorries, that is at least 5 tanks of fuel to buy and 4 wages to pay each week. (You don’t get any yet) and the company wont get anything for at least 6 weeks. (probably 12 weeks)
£24500 to meet the financial standing for the O licence. (£7700 & £4200 respectively) CPC holder, you or A N Other. 9 or 10 weeks before that is granted.
Have you already got a spare 50k? If so you may be able to borrow another 100k from a friend or a bank. Have you tried the lottery or Dragons Den?
MMMMMMMMH, seems there is still some silly buggers out there…
1st question and main question to Ask youreself… Why is someone selling a buisness?? As in most cases if it was making any money you wouldnt be buying it!!! as most people when they are making any money wont really let anyone else have it… YEP some buisness what are for sale are gen and making something IE retiment… but there is more what arnt what it says on the tin!!!
But i will sell you our haulage company it turns over £10 million per year with a wealthy profit £9.8 million i only want 200k for the lot
globby 480:
MMMMMMMMH, seems there is still some silly buggers out there…
1st question and main question to Ask youreself… Why is someone selling a buisness?? As in most cases if it was making any money you wouldnt be buying it!!! as most people when they are making any money wont really let anyone else have it… YEP some buisness what are for sale are gen and making something IE retiment… but there is more what arnt what it says on the tin!!!
But i will sell you our haulage company it turns over £10 million per year with a wealthy profit £9.8 million i only want 200k for the lot
brooksy69:
Lol nice one