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RS: The level of security required by the banks is pretty daunting - having to do personal guarantees, having to execute all the documents.Also, we were buying a sole tradership, which means you can't do things like transfer the bank account and contracts because they're personal to the sole trader.Are you a sea captain in need of close companionship? It distinguishes between three genders: male, female, and sea captain.Are you a landlubber who craves the crustiness of a grizzled old sailor? Beautiful People, which as its name clearly states, is a dating site devoted exclusively to good looking people.It's therefore quite hard to raise money on, and secondly, we wanted to retain the vendor's support.
It's a mixture of bank loans and loans from the vendor. There isn't much in the way of assets with RSVP; the value is in the 15,000 lifetime members.The website is powered by facial-recognition technology developed by Face.com, which zeros in on nine points on each face—the eyes, ears, nose, chin, and the corners and center of the mouth—to find similarities.Britain's first dating agency established for people who are "aesthetically challenged" celebrated an unlikely milestone after it produced its first engagement between its members.We may also want to expand beyond the heart of England into Leeds and Manchester. RS: Probably the most important thing is to bear in mind that it's a negotiation.Go in there with a clear view of what you think the business is worth and why. The vendor probably thought it was cheeky of us to ask for a vendor loan - but they agreed to it. Test any assumptions, ideally by asking your marketplace.A lot of customers and suppliers don't want to know when you turn it into a new company, whereas if you just buy shares in something they wouldn't even notice that it's changed hands.So my advice to potential vendors is to incorporate long before they decide to sell.We've been used to working with consultancy-type businesses, where you have to actively go out and get new business all the time. We arrange meals out, cinema trips, dances, a couple of grand balls...Last weekend we did parachute jumping and this weekend we're doing some helicopter flights. RS: We employ about 15 people, about half of which were there when we took it over.A low-tech site, Women Behind Bars offers a place for incarcerated women to potentially find love by becoming a go-between with interested men who have internet access.For a fee, men receive the mailing address of the gal they are interested in, and they start a penpal relationship on their own if interested. With a 'trademarked' greeting like that on the homepage, you can't say the Ashley Madison Agency are shy when it comes to the fact that their dating website caters specifically to married people with a roving eye.