help on forming a sindicate

[thornabyangler]

A few of us are thinking about forming a sindicate with a view of finding a lake to either co own or own.

Has anyone else done this,if so,how do you go after this?

Also,is there a hierachy in a sindicate?

If so,isnt that just a club?

So many questions that need answering.Need help.Cheers.

[northern mark]

First you need to find a water, easier said than done. You will also need public liability insurance.

To buy a water will cost a lot of money but you could probably lease one, price will depend on what you want and where it is.

The best way to run it would be with all members being equal, this is good in theory but not so good in practice.

 

I ran a water for a couple of blokes, they ran it as a day ticket water. They were both very up for it at the start and both would take their turn doing what was required, then one started to lose interest, he didn't turn up for his evening rounds etc but he still wanted half share in any profits as he put up half the money at the start, he didn't want to do half the work though. After ten months they gave it up.

 

Hope it all goes well for you.

 

Mark

[davidP]

Be very carefull of starting a syndicate with your best friends unless you are extremely confident in your friendships. Nothing tests friendships more than money (OK, so maybe sleeping with his wife would test it more, but you get the idea).

And read 'The Syndicate' series of books by Mark Cunningham

[thornabyangler]

we arent interested in letting others fish the water.We just want our own water to stock and fish,letting the syndicate slowly grow with fully approved members.

[Guest Ferret1959]

Me and my mate run our water like a club.

have had no problems so far and each member acts as a bailiff.

Get a water to own if possible that way you can sell on any excess fish and get some of your finacial input back.

Make some rules and stick to them.

If you have a syndicate have a commitee with all members on the board, talk to each other that way you will all understand what's going on.

As a club you can make the rules yourself though.

[Stewart_Bloor]

Don't start one on a barbel stretch of river, otherwise in the eyes of many it really will be a sindicate.

[RUDD]

Then there are things like bank accounts.

You have to have it in a club or syndicates name (in your own name you will be liable for extra income tax) with at least two signataries who both have to sign to get money etc (to prevent fraud).

[Tog]

Draw up a contract along the lines of I xxxxxx will be xx% partner & agree to share all costs / liabilties with the other partners etc etc

Often best if just one of you rents the water & the others sort of pay 'sub rent' to him.

Have not 'water shared' but have boat shared & one of you seems to keep it all afloat while others wane & you end up 'carrying the can'.

Expect the others to disapear when the bills and work mounts up so allow 'co opting' of other partners if this occurs with the originals losing any 'stake' if they don't produce.

Tog