Big problem is the Filipino partner owns 60% of the business so the 40% nett profit left has to be divide between the investor and yourself. I honestly don't think you will find an investor. Hope I am wrong and you are a big success here but I have serious doubts.

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Yes, I am conscious of this. However, I think that the return on investment will be huge. The product is just perfect compared to what we have found on the market. Robinson's marketing management was enthusiastic about it. Anyway, the filippina partner must firstly reimburse the advances I made in the company. This means that the equity is limited for the moment at 600,000 PHP. So, once the advances will have been reimbursed, the profit will be very large compared to the equity. So the ROI will be very large as well.

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I don't follow what you mean about the equity being limited to 600,000 pesos. I'm also not clear on Robinson's enthusiasm, other than leasing space. Lastly, I don't know what you are basing the ROI on. I built a chain of stores and a factory to supply them in the US, and I can assure you that doing business here is much different.

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Hi Rescuer,
The equity is shared 360,000 PHP for my filipina partner and 240,000 for me. Foreigners may not own more than 40%. All investments have been financed by this equity and advances I made. Well, the Philippines must be somewhat different from the US. And from Europe as well. There, my partner had to make a presentation of the products. The business of selling waffles is certainly much simpler than yours. So, the forecasts are very basic as well. Sales, gross margin, operating costs, etc.... If you are interested in investing, I can send you more stuff by email. Alain

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Once the African Prince that I sent my bank details to gets back to me with the £20.000.000 he's going to put into my account give me a shout ;-)

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Choosing an expat health insurance provider is an important decision. Get a quote from our trusted expat health insurance partner, CIGNA. With Cigna Global Health Options, you can create an international health insurance plan that's perfectly tailored for the needs of you and your family.

I have lived here a good few years now and there is no way I would invest big money in a business here. I would not trust a Filipino to pay back any money at all I know very little about the food industry, nearly every shopping mall has a place selling waffles.

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I will say this everything you know about running a business in Europe means very little here, it is just so different businesses come and go all the time, shopping malls always have empty units and stall spaces. I wish you the very best of luck and I hope my negativity is wrong.

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Ahahahaha, Snowy, I never give my bank details.

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Thanks for your wishes, Draks. I can make the difference between negativity and warnings. I trust my partner and only wish she will be successful. I am not financially interested, I have more than enough income and wealth for my humble life. I will just be proud of having created much needed jobs in the Phils.

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>>>
I trust my partner and only wish she will be successful.
<<<

Asking others to trust your partner is a different matter altogether.

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>>>
So, the forecasts are very basic as well. Sales, gross margin, operating costs, etc....
<<<

Maybe we like to see a 'Business Plan'.

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>>>
Ahahahaha, Snowy, I never give my bank details.
<<<

Acol, Snowy was expecting to receive a huge sum from the African Prince.

I would give my bank account number also (but not my credit card number),

Trouble is, there seem to be many African Princes.

lol

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Hi please pm me if this is not a scam

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Sales:
09/16 42.703
10/16 52.566
11/16 124.693
12/16 198.217
We now need a few money for investing in an advertisement campaign, but I am short of cash right now. As few as PHP 250,000 should make it. Alain

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250k just on advertising? That's £4100 or $5000 quite a lot of money over her here. If your business has improved over the months as you have quoted by would you spend $5000 dollars on just advertising, its growth according to your figures are good without advertising. How does a good restaurant get well know ? By word of mouth if you go out and have a good meal you tell your friends and they tell their friends etc etc etc.
As the dragons would say 'im out'

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To be honest having read your posts I don't think this is kosher. Sorry but something not right here

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First you say with a filipina friend you have opened a business, then you say YOU are not financially interested because you earn enough without it. Then you say your short of money.
Totally not a good way to go about raising capital. I suggest you get a loan from a bank or a finance house. But my guess is you will not get far. As I guess you will not raise money from a savvy foreigner.

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@acol I have my 250,000 pesos ready to send you. Just post your full name and your address on this thread topic and you will receive it by tommorow. It would also be helpful if you post your phone number. Don't PM me the infos, post it on this thread.

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I can't wait any longer ....Are you going to post it or not ..?? Come on come on come on...

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He , in right ?? Almost 200.000 php sales on 12/16 ?? How much is the selling price per waffle ? 1OO PHP ? Thats 2000 piece that day ...........
I want to be or my wife partner .

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He , in right ?? Almost 200.000 php sales on 12/16 ?? How much is the selling price per waffle ? 1OO PHP ? Thats 2000 piece that day ...........
I want to be or my wife partner .

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Doesn't ring true does it?. Well I honestly don't think anyone is going to part with their hard earned cash o n this farce.
Bit of an insult to people's intelligence really.

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I would not underestimate the gullibility of foreigners looking to invest their savings in "get-rich quick" financial enterprises here in Philippines. Like a well-known circus owner said, "there's a sucker born every minute." Personally, I have heard a couple of caurionary and woe-filled tales .And those are just the ones you hear about. Many who lose money here or anywhere do not want to advertise what a sucker they have been.

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Earlier I suggested that the OP submit a Business Plan. No response to that.

Accordingly, this thread should be taken as an attempt to scam.

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@Bagacayboy. These are monthly sales....

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@Draks: Yes, short of money because we didn't reach break-even yet so that I must compensate each month. That's why I am short of money. Bank loans I have got already. I know I have few chances to find an investor, but I try. Maybe a bad communicator, but I am not a scammer.

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Well maybe your not a scammer but you are going to find it difficult nonetheless. Your posts were not clear and you contradicted yourself and now you say there are loans against a failing business who in their right mind is going g to invest, if you not breaking even you are losing money, the business is failing, banks will still want paying. To me every time you post you dig yourself into a deeper hole. Advertising does not guarantee anincrease in sales, advertising is an expense, which may or may not increase business, and assuming business does increase will it be enough to cover your losses. Your not putting across a very good plan for investment. The opposite in fact.

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In the original post you want 500,000 pesos that's more than $10,000, 50% of that investment you want to spend on advertising, advertise where by the way? You have invested 2 million pesos plus your business partner? How much money in total has-been invested, are you renting floor space at Robinson's or a unit, Robinson's where exactly? How many waffle outlets do you have and where are they? Let's get serious about this. You are not a businessman I don't think. If you are a businessman you know where or where not to I vest your money. Your details are uni formative to say the very least. If a potential Investor here, he will want to visit and see, sample the food, in accompanied at first. but you failed to tell us where the place is or how many branches.
How much debt do you have against this company? Bank loans etc. More information is needed before anyone could even dream of investing. It's no wonder so many here think it's a scam. What's the company name? Is it a restaurant or a stall? Where is the the restaurant/stall? How many branches do you have at present? How many do you propose to have? And how will you finance any expansion?
More details needed. But my guess is you won't answer any of the questions.

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Acol has no Business Plan, although he pm'd me that he has, he cannot submit it.

He has bank loan(s), appears to be indebted already.

I get the impression he's looking for others to bail him out of financial trouble.

Effective communication is a prerequisite to raising capital.

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>>>
10/6/2016 12:50 EST

... I trust my partner and only wish she will be successful. I am not financially interested, I have more than enough income and wealth for my humble life.
<<<

Anyone with any experience with Philippines will not want to partner with someone not personally known to him/her.

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>>>
10/1/2016 10:22 EST
I am a belgian citizen but not yet settled in the Phils. With a filippina friend I have opened a belgian waffles restaurant in Manila (Robinson Novaliches) one month ago.
<<<

So the restaurant was opened in December 2016, yet you are claiming sales figures for September, October, November and December:

>>>
1/15/2017 9:38 AM
Sales:
09/16 42.703
10/16 52.566
11/16 124.693
12/16 198.217
<<<

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Forget my last post. I thought this tread started in January 2017, but it was 2016.

Need new spectacles... lol

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I didn't even look at the date when first posted I think this guy is trying to scam his way out of trouble if it's been trading for a year and still not breaking even the I would guess it's near going broke. To be honest the guy is either a scammer or a total idiot or both

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@ Draks: No need to insult me. I am not a scammer, and I don't think I am an idiot. But you are right on one point: I am not a businessman. I had thought that on an expat forum there should be more solidarity and kindness. I have seen the opportunity to provide jobs to filipinos and help a friend opening her own business. I am not hiding anything. I had indeed mentionned 500,000 pesos but it was 4 months ago. In the meantime I have had to compensate for the losses every month. This explains why we would already be happy with 250,000. The name of the restaurant is Whingzie's Luxury Belgian Waffles. There is a Facebook profile. It is located in a unit of Robinson Novaliches (al fresco expansion); All the money invested is coming from my pocket. I have contracted personal bank loans for 35,000 euros what shows that I am "bankable". @Spruik: There is no possibility of attaching an excel file to a message on this forum. So I can't send you here the business plan that I anyway need to revise based on reality. You can see the sales improvement and we hope to be profitable within 3 or 4 months, but in the meantime, I am struggling with cash. You have perfectly the right not to believe me. I invite you anyway to go for a visit and taste our delicious waffles. :-) Alain

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>>>
and help a friend opening her own business.
<<<

That's what I thought: It's your friend's business, NOT your business.

YOU can help your friend, don't expect expats to help a total stranger stranger to help,

Now I am even more convinced you're trying to scam us.

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If not a scam, it's not good business practise to finance a Pinay to set her up in business.

How much of YOUR investments went to her private needs? And to her family?

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I know that I am taking a risk. But sometimes, in life, we must follow our aspirations. Hopefully, it will succeed, and hopefully I will with pleasure have a beer or Tanduhay with you when I settle there. :-)

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The business has been running for more than a year and still losing money, you are asking expats to finance a loss making project and investing money to a woman they know nothing about.
Yes you have taken a big risk and put one hell of a lot of trust in a filipina you don't really know yourself. This is the Philippines not Europe, and money invested is sometimes squandered. I take back what I said maybe not stupid but extremely naive. You have invested over 2 million pesos in a business that's not even breaking even. Do you know exactly where your money has gone? My guess spruick is right, a lot of the money you have sent has probably gone into her own pocket. I fear you have lost your money by investing in a business here and entrusted all the business dealings with a filipina woman you don't know, you are not overseeing the running of this busuness at all, there is no way you can run or oversee a business here while you are in Europe. You have an awful lot to learn about the Philippines, how long are you going to put your hand in your pocket and pay for a failing business. You are being very naive to say the least. There has to be a time when you step back from this it's not working obviously. You will not get any investment unless it's another very naive person with money.
Unfortunately asking expats who know the score in this country, will not work no one is going g to invest in a loss making project. With a filipina they don't know at all. My advice to you is get out now before that 2 million turns into 3 or 4 million. She will have no sympathy if you go bankrupt and lose everything you have worked for.

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Acol, here is a simple request for potential investors:

Since commencement, provide us with a breakdown of income and itemised expenses including stock purchased, rent paid, utilities paid, miscellaneous items and your partner's private drawings (here at ExpatExcange we recognise she needs to eat too). On a monthly basis.

Like a simple Profit & Loss account.

That's shouldn't be too difficult and you don't need to upload a spreadsheet for that.

You could also try 'gofundme.com', but chances are people willing to part with money, will want to see the same.

I have been thinking about that myself, for other people to pay off my mortgage (before I die)... or at least pay for my bi-monthly overseas trips to my GF. So I can will her more money because she is very deserving as she always welcomes me with open arms and open legs... :)

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@Draks: She has been my GF for more than one year. Obviously, it's not easy to follow a business from Europe, but she is sending me all invoices and is not clever enough for making fake ones (very poor english language). I have been there for the opening on August 28, 2016 so I saw the business running, it's not fake. After 4 months, sales improvement is encouraging. I have a 40% shareholding of the limited partnership as it is the legal maximum in the Phils.
@Spruyk: I am waiting for an update of P&L. I will exit if sales improvement is not there.Thanks for advising me Gofundme.com. Alain

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Unfortunately, Gofundme.com doesn't cover the Phils....

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Acol

>>>
@Spruyk: I am waiting for an update of P&L.
<<<

I suggest you have no records.

If she sent you all invoices, wouldn't take much to create a P&L account.

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"I will gladly pay you Tuesday for a hamburger, today!"--Wimpy

(I suggest some of you read Popeye cartoons. They're very enlightening.)

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Sorry Acol you are on a loser here. You have known the woman a year not long really, you are putting a hell of a lot of trust and money into a woman you hardly know. And in the Philippines that's not a good idea. You might feel you trust her with all this money your sending each month, but to expect anyone else to trust her is just too much. You really do need to think k hard on how much more are you prepared to pump into this business, it's not working after more than one year it's not even breaking even.
Gonna ask a question, how much is she drawing each month as salary? I know it's a personal question but might throw some light on this. Also how much is your rent, water and electricity?
And of course you are employing people how many and how much are they being paid?

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You should have seen a return of your investment in the first few months OR she should have send it to you as your profit share being a business partner of hers. I don't like the picture of this acol. Looks like this business venture will end up you being fleeced; while your business partner will be the winner without losing any of her investment. She may also be using you to solicit more funds from other expats in this forum. If all hell breaks loose, you'll be the one holding the bag, while she stays scott free.

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My feeling is your going to lose all your money, and if you don't stop very soon you will be getting into debt,. Just trying to finance a dying business. You really dohave to take this very seriously now, if you start owing money to suppliers you could find a court case against you both, and believe me you don't want that. If I was the only one being negative and everyone else being positive I would ignore what I say but everyone is saying the same thing. It really is time you cut the purse strings, you will lose all that you have invested and probably the woman, the alternative is to keep paying until you go broke. Really you should come here and inspect all the books yourself assuming she has kept books.
Really take this very seriously now, the business should at least be breaking even or a small profit. Something is obviously wrong, mismanagement, diversion of funds? Whatever something is seriously wrong now. GET OUT NOW.

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Just googled it and what came up was a small stall in SM novaliches food hall. not a restaurant that's what come on Google. On fb it looks like a restaurant but never looks busy so I can't work this one out at all.
I would not invest one penny into this project it's just not viable. Not sure if this a franchise, if it is even more problems.

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draks

If this is a Belgium waffle franchise they are everywhere and from cart to kiosks to small restaurants with a few tables like the one near the Solenad cinema in the Ayala Nuvali mall which I have not seen busy, though the kiosk style one in Robinsons Dasmarinas seems to be pretty busy in comparison.

The cost of the franchise itself is listed in the link below, though depending on the choice of cart to kiosk additional costs probably vary.

The wisdom or lack thereof of investing long distance in a foreign country with a partner you barely no and little to zero legal recourse in case of problems does not seem to be a very smart or well thought out investment.

Good luck to the investor if legit, though joining in on the roll of the dice is not something I would consider a wise move for myself.

http://www.franphil.com/famous-belgian-waffles-franchise/

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Sorry ACOL but this business has scam written all over it. Not from yourself I think but I've got a feeling your long distance partner is well and truly shafting you.

Sadly as I'm sure plenty on here will advise you the Philippines has a fair amount of women who love you from a distance especially when you give them money.

There's more to running a business over here than having a good business mind and work ethic. I've got a feeling it's the first opportunity your partner has had to get her hands on some money and now she has it she doesn't have to work hard for it and as such the business is heading South.

Sorry for being brutal but experience tells me this is a possible scenario.

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Sorry ACOL but this business has scam written all over it. Not from yourself I think but I've got a feeling your long distance partner is well and truly shafting you.

Sadly as I'm sure plenty on here will advise you the Philippines has a fair amount of women who love you from a distance especially when you give them money.

There's more to running a business over here than having a good business mind and work ethic. I've got a feeling it's the first opportunity your partner has had to get her hands on some money and now she has it she doesn't have to work hard for it and as such the business is heading South.

Sorry for being brutal but experience tells me this is a possible scenario.

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Acol,

You can help anyone to set up a business, and I understand that some have worked out (usually on a small scale like buying some chickens or pigs for a rural family and constructing their pens).

BUT DO NOT ASK OR EXPECT OTHERS TO PARTICIPATE IN YOUR FINANCIAL LOVE AFFAIR.

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Well Acol has not answered for some time now and everyone is saying the same thing, so I guess he is thinking very hard about what he is doing let's just hope he makes the right decision. No point in all of us going on and on about this now.

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Thanks all for your advises. Please take note that the business has started at the end of August 2016 and it is not a franchise. "Famous Belgian Waffles" are really crap. If profit level is not reached in May, I will let go. I will come in the Phils at that time, so, if anyone wants to have a beer.... :-) Alain

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Confused? Then you will be.

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Still we are all awaiting some figures on expenditure... even if on the back of an envelope.

Without knowing how much the lady takes out as private drawings (and other salaries), there is no way an investor can know how much his/her return might be (one day).

Please enlighten us :)

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>>>
If profit level is not reached in May, I will let go.
>>>

Just what is your target profit level, Alain?

And... if you 'let go', will you refund any investments made by others?

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I feel you are not really interested as investors, but I understand your curiosity :-) I am also curious but I am waiting for the figures' update. She is busy with administrative NBI (?) and such interesting processes with the barangay. You have seen the sales figures up to December. I expect we should break even at around PHP 350,000/month. My initial forecasts were at 300,000 profit per month, but I have to review them based on reality. Maybe have I been over-optimistic. The lady is paid PHP 950/day. Is it exaggerated ? Refunding the investor? Well, this is to be discussed. Will he enter as equity or loan investor? Does he want my guarantee if it is about a loan? High risk, high return. Low risk, low return..... Is he ready and able to invest further if we expand? Robinson has already said other settlings would be welcome, but, honestly, it made me laugh because we are not at this stage :-) I have a good salary at 6,760 euros/month, but supplementing 2,000 each month as I do now is difficult. I have contracted private and bank loans and bills land every month :-) So, at the moment, I have put the deadline to May (when I will pay a visit). It will then be 9 months the business is running. 9 months sounds to me a familiar term :-). Any advice is anyway welcome, but please no more comments about scamming. I am not a scammer, and I don't think my business partner is one. Our fellow Rgetty (Hi Rob ! How is life on Palawan?) has paid a visit to the restaurant and gave me some advises. I will give you figures as soon as I get an update. In the meantime, enjoy the Phils, because here it's freezing.... Alain

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950 a day is good money, very good money. Your average sales assistant would get about one quarter of that. If you are trying to get a business on its feet that is a lot of money to draw.

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Alain soliciting for 'investment' to be spent on advertising, but at the same time talking about pulling the plug. These are words no investor wants to hear.

Excuses as to why figures are not forthcoming (sure, the profits will be 'huge').

YOUR salary in Europe is of no interest to investors in this business venture.

Expect to be roasted when asking for investments on a public forum without providing proper figures.

Now you are talking about loan and equity investments.

You clearly have no control, why the hell would anything consider your proposal seriously?

>>>
Robinson has already said other settlings would be welcome
<<<

???

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950 per day is a true executive level salary for a profit making very well established business. For perspective I have a Cabinet Maker doing some work in my home right now. Excellent craftsman who could work anyplace in the USA. Lucky to find him in the Philippines. He makes 550 a day. Farm laborers and shop clerks here make maybe 200 per day. 950 seems excessive to me in your situation.

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NBI national beureu of investigation, like FBI. Why she is having to deal with them I have no idea. You are sending 107,000 pesos every month your break even is 350k a month that's a significant amount you are sending each month, she should be drawing a monthly salary and that salary should be a bare minimum untill that place is making a good profit, at the moment she is taking a very good wage for running a failing business, she has no incentive to make a profit. She should just be taking enough to pay her food bills and travel costs, no more. 107000 pesos per month is an awful lot of money here. If you are paying a daily rate, how many days a week is she actually working? Believe me she is living quite well on your money. Did she put 60% of the initial investment, my guess is all the investment came from you. What business training and experience has she had and have you seen proof? Philippines is not like the west and you CANT just simply trust and believe everything you are told here. She is taking 30% of you salary each month, that's a lot. Sorry my friend I honestly think you are backing a loser. And obviously she will kick up a big fuss if you pull out because she will lose a really good income that she would not be able to earn normally. Have you seen copies of ALL the reciepts to suppliers, wages to staff, rent electricity and water you should be receiving them on a monthly basis and you want copies not just what she tells you then you want a monthly copy of the the books she is keeping. You have financed this thing you have a right.
If in may you decide to pull out I think you will still have big problems, she will be so angry at you for ruining her lifesyle, be prepared for revenge. One thing you need to take control of this business, you need professional advice. Find a good accountant near you ask if you send him copies of all the receipts rent wages etc by e mail can he give you his opinion. But going on just as you are your going to to just keep losing money. She will put up a good fight she is not just going to walk away from this easy money. Sorry to be so blunt but better that than giving you more BS.

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One thought did you sign a rental agreement with a time scale on it like one or two years? If you pack it all in what are you commitments to Robinsons? If you have internet that's probably a two year contract as well.
Hmmmmm

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How about real estate? Is it a good investment?

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This is a very poor country very few people can afford to buy, if you buy property here, and you as a foreigner can only own a condo, it might take a very long time to sell your property, so in my opinion property is not a good investment.

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