Accountancy practice broker , Commercial mediator & negotiator, Business broker 25+ years professional experience, charity trustee and community worker with a broad (but not-always "PC") view of the country's financial, business, political and social problems. Tel: 0800 2800 321. Follow me on Twitter
I suspect there is a bigger pictur ehere but here are my thoughts :
Sum requested is actually low in terms of GRF multiple
Is it being marketed via an agent or peer to peer ?
£1000 average fee is not to be sniffed at but you need a full breakdown to ascertain the distribution
Are the staff f/t or p/t and how many are bringing in revenue and how many are overheads ?
If you can decouple any unnecessary staff from a deal you could be onto something as the multiple is very attractive on the face of it
Hear hear !!
CH and names
The rules have become unnecessarlity complex.
There are reasons why people use formation agents.
I declare my interest as a company formation agent.
CIO or CIC
There is often no hard or fast rule on the best vehicle for a charity . If this is such a large project I suspect the local authority or other large body may be involved and would suggest asking them if they have any precedents that may be useful pointers
Bank staff knowledge
In 20 years experience of company formation and company secretarial , the knowledge of bank staff is poor . Many are still referring to the 1985 Act !
The problem is exacerbated by the fact that instaed of saying that they are unsure or don't know , they simply spout rubbish
Essentially the size is irrelevant as far as your obligation to a buyer remains the same. You could advertise it on AWeb or approach an agent. However, with an agent thete is a minimum fee so the percenateg paid will be much higher than usual. Or why not approach a local firm ?
Are you sure this is not a tyre kicker using you to bargain his incumbent downwards ? You need to get a commitment as a condition of quoting or else the odds are stacked against you
This is now looking like walking through treacle . If you are skint follow my previous advice , if not follow it and also get legal advice. Good luck . Over and out
It'll be cheaper than going to a solicitor unless of course you can show your director the alleged error of his ways and perhaps negotiate a settlement ?
The director cannot voluntarily strike off if there are debts. Suggest you file a complaint with CH