Starting Again

Starting Again

Author
Discussion

So

18,658 posts

178 months

Thursday 2nd July
quotequote all
DSLiverpool said:
Company announcement tomorrow .........
Meh.

Bored now. wink

illmonkey

12,973 posts

154 months

Friday 3rd July
quotequote all
DSLiverpool said:
Company announcement tomorrow .........
I'd have thought you knew what it is, given you run the place.

Fingers crossed for you though...

So

18,658 posts

178 months

Friday 3rd July
quotequote all
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...
It may only be that he is coming out., but he wants to tell the staff first.

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.


jammy-git

25,322 posts

168 months

Friday 3rd July
quotequote all
I think he's been fired for always leaving his used teacup in the sink without washing it up. And rightly so IMO.

illmonkey

12,973 posts

154 months

Friday 3rd July
quotequote all

DSLiverpool

Original Poster:

12,233 posts

158 months

Friday 3rd July
quotequote all
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.

Edited by DSLiverpool on Friday 3rd July 18:08

illmonkey

12,973 posts

154 months

Friday 3rd July
quotequote all
Wow, ‘So’ was way off. I had a tenner riding on it too!


Taita

6,313 posts

159 months

Friday 3rd July
quotequote all
Congratulations beer

RM

317 posts

53 months

Saturday 4th July
quotequote all
DSLiverpool said:
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.
Looking forward to it. You have an honesty that is rare on business forums and appreciated.

Will you use Shopify for your new venture? biggrin

EddieSteadyGo

6,197 posts

159 months

Saturday 4th July
quotequote all
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.

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.

Louis Balfour

18,658 posts

178 months

Saturday 4th July
quotequote all

Sorry for not keeping up. Can someone (or DS) fill me in?

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?

VEX

4,639 posts

202 months

Saturday 4th July
quotequote all
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.

Edited by VEX on Saturday 4th July 12:25

DSLiverpool

Original Poster:

12,233 posts

158 months

Saturday 4th July
quotequote all
RM said:
Will you use Shopify for your new venture? biggrin
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.



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
you "trusted me" on it biggrin


Louis Balfour

18,658 posts

178 months

Saturday 4th July
quotequote all
DSLiverpool said:
RM said:
Will you use Shopify for your new venture? biggrin
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.



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
you "trusted me" on it biggrin
Good on you DS, well done.

BobToc

337 posts

73 months

Saturday 4th July
quotequote all
Congrats, but an LoI isn’t binding.

DSLiverpool

Original Poster:

12,233 posts

158 months

Saturday 4th July
quotequote all
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.

Luke.

8,585 posts

206 months

Saturday 4th July
quotequote all
Well done, Dave. Amazing news.

BobToc

337 posts

73 months

Saturday 4th July
quotequote all
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.
It’s not in any real sense. The SPA is the document that matters, and even then you should make sure your lawyer explains what the CPs to closing are. If you’re dealing with a buyer who cares about their reputation it should be fine, but just keep your eyes open.

Congrats, and I mean that very genuinely, look forward to reading about the future on this thread.

jammy-git

25,322 posts

168 months

Saturday 4th July
quotequote all
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? biggrin

DSLiverpool

Original Poster:

12,233 posts

158 months

Saturday 4th July
quotequote all
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? biggrin
Honestly I celebrated our first 6 figure website more than either of them biggrin 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