julesandco

I did warn you it was a long one!

We started from scratch, a fair few of the others went into partnerships or bought out existing businesses as far as I am aware.

I would say the benefits of buying in (as long as you are very careful and really scrutinise the figures) is that you have an existing customer base and the licenses etc should all be in situ - a fair leg up in most cases.

Starting from scratch takes longer initally - finding out where to go for everything to get the business established, but then again, I suppose it could take months to find a suitable business that you are fully convinced is worth the investment. Swings and roundabouts I guess....

I don't know of anyone who has failed in achieving PR. As long as you keep in touch with the SBDC and communicate with them, I think they are quite encouraging. Perhaps others can shed more light on this?

Anyhow - happy reading and I'm sure we can help with your questions...... just not me, obviously

Jules x

isleofmanmike

Thanks Julie

I am using business solutions in Mandurah to arrange my business plan,a guy called Terry Collier, he has been there two years and emigrated on the 163 visa. He is a good guy and has just applied for his PR.
He has been talking to the company that I might buy into and will be checkinhg figures etc. They employ three australians already and the turnover far exceeds the required $200k. One of my main issues will be income from the business, I know the cost of living there has increased over the last few years. I dont believe it is much different to the UK now and taxes are quite high. I should have state sponsorship be the end of Jan, I will then hopefully book a flight to meet with them sometime in March. If you are available at this time maybe we can meet with you and hubby for a beer or cofee somewhere

julesandco

Yep - just say when and where.

You're right about the COL now; it's huge. Shopping prices are ridiculous and fuel varies by the day.

House prices have crept up considerably since we moved out.

All part of the fun I guess

Jules x

wildmark

Yes were enjoying things, whats worrying is I still have the moving bug, I thought when I got here I would feel settled, I'm not sick for home, far from it...we went to the mountains and I fell in love with the idea of mountains, and four seasons!!!! oh well.

foxychic

Happy new year to you all. Keep missing updates of this thread. Are you ready for PR already Jules - that has passed quick - well done.

We are plodding away here in South Australia, business is picking up which is good and we are beginning to feel more settled - so much for moving for an easier/different lifestyle. It is different only in that we all have to work harder now should all pan out though and to be fair for a brand new startup business we are doing ok.

We have also decided to make things even more stressful for ourselves by having another baby!! Actually we didn't decide to do this, it came as a surprise just after we arrived! Anyhow, should make life more interesting - don't know how I'll be if its another boisterous boy!

Can't beleive how long the house is taking Jules - shouldn't be long now hey, and your pool does look good - wish we had one - might have to wait till next summer!

Mark -did you dare tell your wife you have itchy feet again?

isleofmanmike

Hi Jules

We now have the annual turnover for the business I hope to buy into and eventhough it has increased substantially since 2002 the figures are not what we expected. The turnover is enoughto get PR but the price he gave me for buying 20% I think is a bit steep. When you consider the price I recieved for 100% of my business on the Isle of Man. They havn't given any figures yet on operating costs and net profit......A bit disapointing butI feel that I am going to have to be very carefull......any thoughts....

steveyp

Mike
I have PM'ed you, but you have to very careful here especially with some business brokers.
We looked at so many business when we got here, many have high rents (shopping centres) and are struggling to make a profit. Beware add-backs where the business shows you very poor figures but then says an owner operator can make a profit. The reality is that a husband and wife team working 12 hours a day each end up with a low salary.
Asking prices are usually very high with good will overpriced.
I would say that 80% of the business we looked at and rejected went on to close their doors within 12 months.
What line of business are you in now?
Cheers
Steve

steveyp

Is that (pool) a Sapphire Flamingo Jules?
Happy new year BTW!

isleofmanmike

Hi Steve

I have a Financial Adviser business.....mostly investments and superanuation but also do mortgages and some general insurance.....What type of business do you have and have you got PR yet.

wildmark

Yes she knows me by now

julesandco

How well you know your pool business!

I seem to remember we were looking at the slightly smaller one, but you had a flamingo, so I made them squeeze it in

Jules x

julesandco

WOW!!!

You're having a baby, we're building a house........ same difference really! We're financially burdened by it for the next 25 years!!

Very many congratulations!









....................and I think you're mad

Jules x

steveyp

When you need your blanket and roller give me a shout, there are special deals for flamingo owners! I send a lot of blankets down your way, cheapest around you see.
Just looked at the date, we got to Perth 3 years ago yesterday, how time flies.
Cheers
Steve

Carbery

I have been a long time reader of this great thread dipping in every couple of months since we first started our application process in May 2005 and I have felt the highs & lows expressed as if it was our own adventure. We are on the Gold Coast and for the last 18 months have owned a newsagency. If interested our 1 year & 2 year updates are here http://britishexpats.com/articles/au...se-queensland/ & http://britishexpats.com/forum/showthread.php?t=483612.
We have now come to a stage where we can start thinking about applying for PR on a 890/892 visa. At the moment we employ 2 and a half full timers, the turnover is not a problem and have had an initial interview with an immigration lawyer. Our slight worry is that we have to move to a new unit in the shopping centre we are in as it is being refurbished which entails new lease, new shopfit, and other expenses which I have to commit to before we can submit our application for PR. What I am trying to ask is, is the PR application a formality, has anyone been refused,? I dont want to commit to these investments if I find that the PR has not been granted which would require selling the business before all the overheads were paid for.

Best Wishes to all 160/163ers.

steveyp

For all you budding 163ers out there we have (due to other business commitments) decided to sell the Pool Shop.
We got our PR on the strength of the shop, it offers great turnover, equivalent 1 full timer (3 casuals), great net profit and lifestyle.
Anyone interested please send me a PM for more info.
Guaranteed PR, regular wage and stress free life!