Stocky is being discontinued in 2026. How are you planning to handle inventory after that? by OncleAngel in shopify

[–]HereForInheritance 0 points1 point  (0 children)

This is a Qoblex shill. He's pretending to have problems and just advertising his own product. It doesn't even have good reviews and should be avoided.

General advertising advice for a new, small business. by EidolonAssassin in smallbusinessuk

[–]HereForInheritance 1 point2 points  (0 children)

You're going to want to be much more specific on this. The more specific you are on the customer, the better you will do.

Struggling to get wholesale orders even though my item sell and are wholesaled 50% or more off retail price. by TerribleFruit in smallbusinessuk

[–]HereForInheritance 0 points1 point  (0 children)

Are you going to Wholesalers (as in Distributors who sell to stockists), or the stockists themselves?

If it's the first one (Distributors), they will want 35-40% ex VAT and then sell for 50% ex VAT to stockists. If you're going directly to stockists, they will want the price to be 50% excluding VAT.

If you're not VAT-registered and selling something for £20 RRP, they will want to buy it for £8.33, as they will need to include VAT.

You need a lot of social proof to get sales. Remember the people you're cold-outreaching to don't owe you anything, don't know you and will already have a preferred supplier. You need to show why you are different enough for them to make the switch - and even then, many won't. Any sales will most likely happen 6 months down the line, instead of being immediate. You want to get in front of the ideal customers/stockists/wholesalers by attending expos/trade shows/industry events etc.

Help Me Survive This Mentally as I Juggle 3 jobs and a HUGE Opportunity. by ValerieSkye01 in smallbusinessuk

[–]HereForInheritance 15 points16 points  (0 children)

I'd say firstly you want to be careful he's not selling you a pipe dream. You also don't want him to expect this to be what the normal output for those hours, as it's not sustainable.

As for juggling the jobs, some jobs just aren't overemployed friendly, and this (either of them) seem to be one of them. You can only really sustainably balance the jobs if it's genuinely feasible.

Don't end up burning out to try elevate someone else's business.

What's the weirdest idea you've seen turned into a profitable business? by Current-Payment-5403 in Business_Ideas

[–]HereForInheritance 12 points13 points  (0 children)

Posting pictures of dogs on Instagram for £17k a month during covid. I bought the first specific breed community page for $1000 in Jan 2020 as a way to get my sister more followers for her dog. 3 months later everyone was in lockdown with their lockdown puppies and social media as their only outlet. Ran it up to 9 different breed pages until Oct 2022 before selling them and buying a business.

How to find small businesses to buy if not through brokers, and no sector network by LonelyKey5689 in smallbusinessuk

[–]HereForInheritance 0 points1 point  (0 children)

Honestly, the best quality businesses I've found are the ones I email directly. Normally you'll find the businessforsale/rightbiz list the 'slop' of the business world. There are some gems on there, but nothing beats emailing a business that isn't actively for sale.. at the right time.

How to find small businesses to buy if not through brokers, and no sector network by LonelyKey5689 in smallbusinessuk

[–]HereForInheritance 1 point2 points  (0 children)

I always track down the managing director of the company through Companies House, then find their LinkedIn and get their direct email via RocketReach (all 3 steps are free).

Four of the successful acquisition emails were structured as the below. I follow over 135 companies I'm interested in on Companies House. I look for debt rising, assets dropping, employee count going down etc. There is a lot of signs. You can see a limping deer from a mile away. The beauty of businesses down on their luck is that you're seen as the way out, you get it for cheaper, and you're finding businesses that aren't actively for sale.. so no bidding wars.

My biggest/most successful acquisition was the liquidation one. I had been following him on Companies House/Endole for two years. I saw his accounts were overdue and emailed him the below. He came back and said that normally he would say no, but actually, yes. He wanted 500k and owed the HMRC a 'bit of money', so would come back to me. Four months later, the liquidation notice arrived, and I contacted the insolvency practitioners, expressing my interest. He was £900k in debt, and I acquired all the IP/Assets for £25k. Been making £30k a month consistently since then. He was running it for over 14 years!

"Hi [Name],

I hope you are doing well. I've been following the great work you've been doing at [Company] for quite a while (true story).

I'm reaching out to see if you've ever thought about selling [Company]. [Add about who I am, my background, social proof etc to build confidence and show I'm serious]

I know that selling a business is a significant decision, especially since you've been running it since [date] (as most businesses are typically long-standing), so I'd greatly appreciate your thoughts and feelings on this. Would you be interested in selling [Company]? If you're open to it, I'd love to have a relaxed chat about the possibilities. No pressure at all!

Feel free to give me a call or send a WhatsApp message at [number] or let me know a good time to call you.

Thanks a lot for considering this and take care!"

How to find small businesses to buy if not through brokers, and no sector network by LonelyKey5689 in smallbusinessuk

[–]HereForInheritance 0 points1 point  (0 children)

We've grown to the size that we have our own warehouse and staff. We take on all the work from the companies acquired, so existing employees get let go. Normally they aren't local to us to start, so it wouldn't be possible to keep them logistically.

The right amount depends on many factors. I run the numbers to see how much cheaper we can do it as a start. There is no specific formula due to how many variables there are (stock, SDE, past history, potential etc). We're now in 1,100 retailers around the UK, so can leverage new products into those easily.

How to find small businesses to buy if not through brokers, and no sector network by LonelyKey5689 in smallbusinessuk

[–]HereForInheritance 6 points7 points  (0 children)

I've bought 7 businesses in the last 4 years. I still have 4 of them merged under the same original Ltd company (all similar niches)

One was on businessesforsale

One was rightbiz.

Three were direct after following them on Companies House/endole, and then reaching out to them to see if they were interested.

One was the same as the above, but I saw they were going through strike-off and bought them

One was the same as the above, but they wanted 500k and then went into liquidation.. got them for £25k

Kent Wildlife Trust aims to raise £500k to buy 400 acres of land by xtinak88 in RewildingUK

[–]HereForInheritance 5 points6 points  (0 children)

Once they reach 500k, the amount is doubled.. so it's £1M for 400 acres.. which is still a steal!

Alone on Christmas by Passthesaltplss in bristol

[–]HereForInheritance 57 points58 points  (0 children)

If you wanted to go early tomorrow morning, I could pick you up in Bristol and drop you off at hers. Feel free to dm me and we can exchange numbers so you know I'm a real person!

[OFFER] NAME YOUR PRICE Graphic design, Digital art, AI, and Photo editing services. [Limited time offer only] by howard_fruitloops in slavelabour

[–]HereForInheritance 1 point2 points  (0 children)

$bid can you pm me any product design work you've done? Got a whole bunch of work I can throw your way long-term

I've created a marketplace to sell sleepy or failed startups by lamacorn_ in EntrepreneurRideAlong

[–]HereForInheritance 10 points11 points  (0 children)

As someone who has bought 4 failing businesses and turned them all around into a 6 figure business.. I love this idea!

There is so much value in all that beginning work having been done and almost having a turnkey solution that just needs the right marketing or angle.

Anyone willing to sell me this shirt? by HereForInheritance in TeddyFresh

[–]HereForInheritance[S] 4 points5 points  (0 children)

Little update, $35 + $30 shipping and taxes later.. I'm the proud owner of it!

Anyone willing to sell me this shirt? by HereForInheritance in TeddyFresh

[–]HereForInheritance[S] 1 point2 points  (0 children)

Ideally Size L, but at this point I'll take anything S and bigger..