Help With Starting A New Business!

[clipclop1]

Never even considered owning my own business before, I'm totally ignorant of the logistics of financing etc so I was hoping some of you might be able to shed some light on this for me?!

I want to run my own childcare nursery, I have years of experience, that side of things isn't a problem.

I have been looking at established business' that are up for sale (on the internet obviously, not in person) and think that this is possibly the best option for me (or at least the first one I'm going to give proper consideration to before possibly deciding its not for me)

Here are my stats... they're not good! Haha
I have no savings,
I don't have anyone to give me any financial help
My credit score is 'good',
I don't think I'll be able to apply for grants to fund this option as it'll require a serious amount of money as business' are going for around £250,000,

So with all that in mind, I think my best option is to get a bank loan to put towards a deposit for a commercial mortgage as most commercial mortgages I've looked at want at least 20% deposit... but I'm not 100% sure this is the correct way to go about things...

Can ANYONE shed some form of light as to what/where and how to go about things?!

Many thanks!

[Mosaic]

Here's a Thursday morning thought Clipclop: why not use your contacts to make your initial set-up in partnership with an existing school.
You could look at any combination of staff children and local working parents but it is something that a school could then declare on their Ofsted self review framework as 'working in partnership' and 'working with local communities'.
In particular primary schools with falling infant rolls might welcome someone renting an area which would come complee with tiny toilets etc...

[Mosaic]

Out of interest, the founder of this one started from scratch in her own home:
http://www.nookbarnnursery.co.uk/

[chrissa1]

That's very interesting Mosaic.

[ttfn]

Hi clipcop :)

Have you looked here?

http://www.outset.org/

[chrissa1]

Thanks ttfn. CC is working tonight. I'll make sure she sees that link.

[ttfn]

You're very welcome, chrissa :)

Not sure if cc has seen this:

http://nationalcareersservice.phoneme.net/

[chrissa1]

Ten Four ttfn.