Ellis Rose we know will require an office base to work on a bigger scale, however this requires money to balance the costs of the rent and the new equipment. We are fully aware of this and have therefore elongated our growth plan to allow us to earn the money required before re-investing into the business.
The new company we were looking at would require a significant monetary investment, it would require several years of extremely hard graft to get it off the ground in the UK. But it also requires significant monetary investment from an investor to allow us to purchase the correct licenses and start work on the property.
The company in question is already 6 years old in Canada and very successful, we have a great relationship with the owners and between us we are have the ability and passion to bring the company to the UK. However on a recent trip over to Canada to discuss the company, amongst other things, we agreed that we would need to invest 50/50 with an investor in order to have the capital needed to start the business and run its first year.
Yesterday we visited a potential property in Edinburgh, fantastic location, unfortunately the current owner had somewhat let the reins go and it was running itself into the ground. The property had no soul, it had no personality and this made for an uncomfortable environment. But with the right investment and work, it had great potential to be more and certainly had the location to attract more customers.
With this information in hand I then set about emailing our investor, whom we had already discussed the investment with and I had pre-warned that we were seeing properties.
This morning, the disappointment arrived, our investor hadn't quite understood the terms of the investment. So not only didn't have the money available but didn't seem to have the awareness that we were already involving ourselves. Safe to say, the investor will have to tell us whether it's a flat-out no or if they can get the money from local sources themselves, otherwise this business doesn't run. And I have to console myself that I don't have a new job coming up this year but instead will have to remain at my current job, for what feels like, till the end of time.
I'm so disappointed right now. I have to try and perk myself back up, think positively, maybe it will come right again.