jefflib
11-19-2011, 03:11 AM
I had my own business for 18 years and lost everything except my experience.
I went back to work taking what I could and now I am in a different industry. My first job after self employment was a delivery job, the second one was too.
Luckily after years of trying to struggle back
I found a niche and have produced millions in sales in a short time.
I just found out a close friend of my family is a owner of a very large and established multimillion dollar company in the same hard to break into industry and offered to help me last time I saw me if he could but I didn't accept out of pride a few years ago and forgot about his offer.
The commodity I sell is a completely different product and customer base than his although like I mentioned it is same manufacturers/factories that make both commodities.
I feel extremely confident i can bring my niche to him if he is still open.
I have a natural knack for my niche and am confident I can in the same industry.
I am writing my business plan for this presentation and factoring the receivables and lines of credit form suppliers are vital to save years to get somewhere quicker as margins are smaller than many in this industry bought receivable customer base are very solid rated customers and agencies.
If you are a established company for 1 1/2 -2 years with 1 million in Gross Annual Sales you can get approved for factoring easier and / or loans / lines of credit.
Thus my problem.
So the question and my totally unknown quest for a solution is as follows:
If the family friend is on board and agrees to form new Subsidiary or Division to his existing California Privately Owned Corporation and he has a majority ownership and I am minority new member, will factors / suppliers extend the new entity related opportunities and if so how do I do the structure and all related formatting, etc. ....
I am sorry if this is very long winded but it is I believe complicated.
I have research endless hours already.
Any help would be greatly, greatly appreciated!
I went back to work taking what I could and now I am in a different industry. My first job after self employment was a delivery job, the second one was too.
Luckily after years of trying to struggle back
I found a niche and have produced millions in sales in a short time.
I just found out a close friend of my family is a owner of a very large and established multimillion dollar company in the same hard to break into industry and offered to help me last time I saw me if he could but I didn't accept out of pride a few years ago and forgot about his offer.
The commodity I sell is a completely different product and customer base than his although like I mentioned it is same manufacturers/factories that make both commodities.
I feel extremely confident i can bring my niche to him if he is still open.
I have a natural knack for my niche and am confident I can in the same industry.
I am writing my business plan for this presentation and factoring the receivables and lines of credit form suppliers are vital to save years to get somewhere quicker as margins are smaller than many in this industry bought receivable customer base are very solid rated customers and agencies.
If you are a established company for 1 1/2 -2 years with 1 million in Gross Annual Sales you can get approved for factoring easier and / or loans / lines of credit.
Thus my problem.
So the question and my totally unknown quest for a solution is as follows:
If the family friend is on board and agrees to form new Subsidiary or Division to his existing California Privately Owned Corporation and he has a majority ownership and I am minority new member, will factors / suppliers extend the new entity related opportunities and if so how do I do the structure and all related formatting, etc. ....
I am sorry if this is very long winded but it is I believe complicated.
I have research endless hours already.
Any help would be greatly, greatly appreciated!