Starting Again
Discussion
illmonkey said:
DSLiverpool said:
Company announcement tomorrow .........
I'd have thought you knew what it is, given you run the place.Fingers crossed for you though...
I am imagining the boss formerly known as Dave showing up this morning with a platinum blonde wig, a slightly too tight wrap dress and slutty heels.
We announced today we’ve signed a binding letter of intent (loi) with a investor who is buying all my shares and a portion of my partners. I’ll be totally out of Velstar by 15/8.
For the last 6 months we have had many interested parties but none i thought would make Velstar huge. The investor is USA based and we will open in America shortly, the potential is tangible in a way I couldn’t finance or manage to be honest.
I can’t say much more about the buyer etc but I’ll start another “starting again” post as I have a rough plan of what I want to do.
For the last 6 months we have had many interested parties but none i thought would make Velstar huge. The investor is USA based and we will open in America shortly, the potential is tangible in a way I couldn’t finance or manage to be honest.
I can’t say much more about the buyer etc but I’ll start another “starting again” post as I have a rough plan of what I want to do.
Edited by DSLiverpool on Friday 3rd July 18:08
DSLiverpool said:
We announced today we’ve signed a binding letter of intent (loi) with a investor who is buying all my shares and a portion of my partners. I’ll be totally out of Velstar by 15/8.
For the last 6 months we have had many interested parties but none i thought would make Velstar huge. The investor is USA based and we will open in America shortly, the potential is tangible in a way I couldn’t finance or manage to be honest.
I can’t say much more about the buyer etc but I’ll start another “starting again” post as I have a rough plan of what I want to do.
Interesting development.For the last 6 months we have had many interested parties but none i thought would make Velstar huge. The investor is USA based and we will open in America shortly, the potential is tangible in a way I couldn’t finance or manage to be honest.
I can’t say much more about the buyer etc but I’ll start another “starting again” post as I have a rough plan of what I want to do.
Can I ask, rather than starting a new venture, why did you decide to not continue with your current business? Whilst you might not have the appetite to expand internationally, there are plenty of similar companies making a decent income just concentrating on the UK market.
RM said:
Will you use Shopify for your new venture? 
Yes and its 90% built with a full Linnworks integration, multiple suppliers and multiple sales platforms. EddieSteadyGo said:
Can I ask, rather than starting a new venture, why did you decide to not continue with your current business? Whilst you might not have the appetite to expand internationally, there are plenty of similar companies making a decent income just concentrating on the UK market.
My biz partner is 20 years younger, I`m 56 and the potential for Velstar to be a worldwide brand and a great adventure is beyond my appetite. I was always thinking to go back to something less frenetic but I also valued the Shopify Plus partnership very highly when thinking of a valuation for my share. This buyer understood the value of the Shopify partnership and valued it accordingly - its a great deal for me.Also and not to be morbid (Just matter of fact) I lost my brother, dad, uncle and grandad all before they were 60 so the cash boost and commitment drop allows me to do more with my 10 year old twins.
Louis Balfour said:
DS had a telecoms firm up north right? He sold it.
Then he started again with a web marketing firm. He's now sold that.
Have I got that right?
Yes spot on, I sold my 51% of Velstar, it was a Shopify based web dev and marketing, in all honesty the success is based on the Shopify relationship my partner has and the marketing on the fact our marketing director (Paul) is the best SEO / PPC I have found in my 22 years online. Then he started again with a web marketing firm. He's now sold that.
Have I got that right?
VEX said:
Great News DS.
Long time follower (and customer)
Fingers crossed for the future.
We went live last night - why not, 4th of July is perfect!! Lol
Lots of brands bending their rules to accommodate us, which is a real coo.
V.
Chris the site looks fantastic and you will do really well from it, the professional online image opens doors but this is something I struggle to get across to people hence I am so glad Long time follower (and customer)
Fingers crossed for the future.
We went live last night - why not, 4th of July is perfect!! Lol
Lots of brands bending their rules to accommodate us, which is a real coo.
V.
you "trusted me" on it
DSLiverpool said:
RM said:
Will you use Shopify for your new venture?
Yes and its 90% built with a full Linnworks integration, multiple suppliers and multiple sales platforms. EddieSteadyGo said:
Can I ask, rather than starting a new venture, why did you decide to not continue with your current business? Whilst you might not have the appetite to expand internationally, there are plenty of similar companies making a decent income just concentrating on the UK market.
My biz partner is 20 years younger, I`m 56 and the potential for Velstar to be a worldwide brand and a great adventure is beyond my appetite. I was always thinking to go back to something less frenetic but I also valued the Shopify Plus partnership very highly when thinking of a valuation for my share. This buyer understood the value of the Shopify partnership and valued it accordingly - its a great deal for me.Also and not to be morbid (Just matter of fact) I lost my brother, dad, uncle and grandad all before they were 60 so the cash boost and commitment drop allows me to do more with my 10 year old twins.
Louis Balfour said:
DS had a telecoms firm up north right? He sold it.
Then he started again with a web marketing firm. He's now sold that.
Have I got that right?
Yes spot on, I sold my 51% of Velstar, it was a Shopify based web dev and marketing, in all honesty the success is based on the Shopify relationship my partner has and the marketing on the fact our marketing director (Paul) is the best SEO / PPC I have found in my 22 years online. Then he started again with a web marketing firm. He's now sold that.
Have I got that right?
VEX said:
Great News DS.
Long time follower (and customer)
Fingers crossed for the future.
We went live last night - why not, 4th of July is perfect!! Lol
Lots of brands bending their rules to accommodate us, which is a real coo.
V.
Chris the site looks fantastic and you will do really well from it, the professional online image opens doors but this is something I struggle to get across to people hence I am so glad Long time follower (and customer)
Fingers crossed for the future.
We went live last night - why not, 4th of July is perfect!! Lol
Lots of brands bending their rules to accommodate us, which is a real coo.
V.
you "trusted me" on it
DSLiverpool said:
BobToc said:
Congrats, but an LoI isn’t binding.
A binding one in USA law is apparently, UK legal converted it and we will have the SPA next week. Congrats, and I mean that very genuinely, look forward to reading about the future on this thread.
jammy-git said:
Congratulations matey. It's been great to follow you on this journey!
One question though. Did you celebrate the success and sale of your business, or the title win, more?
Honestly I celebrated our first 6 figure website more than either of them One question though. Did you celebrate the success and sale of your business, or the title win, more?
and that was after I knew I had no benefit from it! The title hasn’t sunk in yet as I’ve not been with my pals being all “laddy” lol.
On the sale I celebrated the offer more than anything else and that was 2 months ago. Just want to crack on with the new stuff now.
Edited by DSLiverpool on Saturday 4th July 19:45
Gassing Station | Business | Top of Page | What's New | My Stuff