Last post here Barrington Im bailing out.Reread the propsectus again it gets worst read carefully the info about the MD and his last position before Belvoir wherethe company went west-not inspiring.After paying off The missius it will leave them £2m plus for acquisitions .clearly they can borrow on top of that .They have indicated that they will finance existing franchisees to acquire other businesses If you look at the salaries of the directors in the last full accounts they look very modest perhaps with a view of the impending listing. qutte a high overdraft for what is a fee collector industry the website looks good so maybe thy have pumped a lot into that!!!
BARRINGTON WHY ARE YOU FRIGHTENED OF A FEW HOME TRUTHS >IT SEEMS TO ME THAT YOU HAVE WANDERED BLINDLY IN HERE WITHOUT READING THE PROSPECTUS i ALSO NOTE THAT ESTIMATED FIRStt YEAR TURNOVER INCOME FOR A PROSPECTIVE FRANCHISEE P IS £50,000PA WITH THE FRANCHISE FEE MAANGENMENT FEES OFFIC EOVERHEADS LOOK SLIKE MIGHT EB ABLE TO DRAWA SOME SORT OF SALARY BY YEAR THREE mAYBE IM A SHORTER
Sv like your aircraft references we will keep going round in circles with this banter. I suggest if you have no positive interest in this board you could be btr putting yr well written efforts into another share site.impho
I have had no personal dealings with them whatsover I just read the information on their website The reason for the placing is spelt out in Black and White the missus wants her money. It would be different if the finance was to fuel some expansion
I dont see any exceptional talent on the board. no professionally trained property professionals as directors although there is growth in the residential lettings field I i cant seethey have much to offer a s potential franchisee apart from a good brand i wouldnt be attracted at the 8% exit fee
I appreciate that you are talking through your pocket its just my view which i am entitled to FPD Savills they aint
If you read all the placing blurb.The majority of the bish is for Biggles Missus They dont require finance for expansion as the franchisee pays an upfront fee of £22,500 for the franchise
As the whole business is related to property it would be good to see an experienced property on board to help and advise potential franchisees who are likely to be inexperienced vis a vis property management ,.repairs, legal niceties
The board members dont look very inspiring starting off with a retired RAF bod looking for something to do with his pension
the way i read it was this co wants to go further south of the country and to N I with new offices and this will raise the cash to do so, I really dont quite get why they would need a surveyor on the board can you enlighten me ,SV :)
Not sure about this one Looking at the 9 months of 2011 proportionately havent increased income from theyear before despite opening more offices when the lettings market has been frothy Looks to me as purely acapital raising exercise to pay the old Wing co MD missus off whos getting a big chunk of the flotation spondulies
Plenty of residential letting agents about a lot of casualties in recent years Residential lettings are a very localised business Doesnt seem to be alot of benefits for a high entry price of £22,500 and 12% of the take unless they can introiduce large residential landlords with big portfolios
I notice that there doesnt seem to be a chartered surveyor amongst the directors
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