Looking for an Investor/partner.
Hello all, My names Luke Gernon I'm a machinist from the south of the UK. Born and raised in London. Cutting straight to the chase I'm self employed contracting under aviation companies doing a lot of prototype work and some production. I have a vast experience in milling 5/4/3 axis as well as being one of the last toolmakers apprentices. I have found a few of my own customers and now look to start my own shop, I cannot get funding from any bank or family. My options are bring aboard an investor or find a homeowner guarantor.
I have business plans for the company along with cash flow forecasts and projected work into next year. Its looking promising with 2 VMCs and 1 lathe needed I will be able to push the work out I want to quote. If anyone is interested and can bring either guarantor eligibility, skill or investment please contact me so I can share all the information with you. Prototypes will be out of testing come end of year and production begins this is why I'm on a strict deadline to get setup over the next 2-3 months.
Re: Looking for an Investor/partner.
I'd try the banks again, or maybe some government grant. If there's some kinda forum of dragons den style investors out there then look for that too!
Re: Looking for an Investor/partner.
Quote:
Originally Posted by
LukeGernon
Hello all, My names Luke Gernon I'm a machinist from the south of the UK. Born and raised in London. Cutting straight to the chase I'm self employed contracting under aviation companies doing a lot of prototype work and some production. I have a vast experience in milling 5/4/3 axis as well as being one of the last toolmakers apprentices. I have found a few of my own customers and now look to start my own shop, I cannot get funding from any bank or family. My options are bring aboard an investor or find a homeowner guarantor.
I have business plans for the company along with cash flow forecasts and projected work into next year. Its looking promising with 2 VMCs and 1 lathe needed I will be able to push the work out I want to quote. If anyone is interested and can bring either guarantor eligibility, skill or investment please contact me so I can share all the information with you. Prototypes will be out of testing come end of year and production begins this is why I'm on a strict deadline to get setup over the next 2-3 months.
I wish you good luck, but right now, if you have a job or enough companies contracting you then in my opinion, it is better to keep those activities then starting up something new without customers. If the banks turned you down and your family won't or can't support you then chances are low that some stranger will give you money to use. I mean, even the "lions den" type of investors want to see some business opportunity, so unless you have something really solid, unique and feasible, I don't think you have a chance. If you are good at the skills you have then you should not have difficulties in finding work, at least not here in Sweden, but I don't know what "machinist" means, because surely you can't be one which can handle all the machines with excellence, but generally, people with workshop machine skills have absolutely no problem finding work here in Sweden if they are ready to move to places where the work is. On the other hand, for running a business, being a skilled machinist is not enough. To be honest, I don't know what you actually want and why, and why did the banks turn you down. Isn't there anyone, like a business advisor consultant or something similar you can hire to discuss your ideas? I mean, even if he charges you 100£ per hour, it might be worth a few hours consultation before you start up something you can't finish or will ruin you and your family. Believing in your own ideas is important and rewarding, but if nobody else believes in the same idea then perhaps the idea is not that good, or needs to be revised.
You are saying that you are "self employed contracting under aviation companies doing a lot of prototype work and some production". "Self employed" means to me that you are already running a business. "Doing a lot of prototype work and some production" sounds like to me that you already have enough to do in your current company. Why not continue that way, try to find other customers also, save and expand when you have some money in the bank. Sorry to say, but I think regardless of how skilled, ambitious and hard working you are, that's not enough to run a small business successfully, and the larger the business gets the more difficult it becomes.
"Prototypes will be out of testing come end of year and production begins this is why I'm on a strict deadline to get setup over the next 2-3 months." Does that mean you have contracted for more than you can deliver? That is a very problematic situation, because depending on the contract, it may actually mean that you have a liability. Personally I also think 2-3 months is very optimistic, unless you basically have everything in place already. The very short deadline can scare off a lot of investors who no doubt will ask some very delicate questions about your plans and the current status. Perhaps it was that short deadline which scared the banks also. Anyway, those last words of your post even more motivates my advice of hiring a business consultant with experience in helping setting up, expanding and running small businesses with new business ideas. Maybe he/she can give you some better advice and will tell you to bail out or continue, and can help you in some ways even with the "how to" part.
One more thing... "cash flow forecasts and projected work into next year" is in my opinion very short term. What are the plans after 2023? I mean, seriously, even if you have more than enough for one year, what will you do in 2024 and so on? You can't really start a business with a lot of machines and high rent and other costs with only one year in mind.
Re: Looking for an Investor/partner.
How are things going Luke, did you find an investor ?
