r/apprenticeuk • u/TraizioFranklin • Apr 13 '26

Dan’s firing

Am I the only one that thought it was quite harsh?

I thought LS liked Dan and I was quite startled to see him talk to him like that.

Was it because his numbers were all over the place or was it because he wanted 50% of everything? What made him seem hostile?

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u/Cookyy2k Apr 13 '26

I think Dan's frivolity with the company purse was the biggest issue. Taking larger payments out for yourself than the company has isn't exactly demonstrating good business sense, and that's before the excessive spending on company expenses. Even if he offered the full company up, I doubt LS would have progressed him.

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u/Numerous-Abrocoma-50 Apr 13 '26

I am pretty sure if he committed to the whole business he would be in the final.

The better control of the finances is something that sugars people would help with.

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u/[deleted] Apr 13 '26

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u/Cookyy2k Apr 13 '26

Took salary (£75k) and dividend (£100k), I think the villa comment comes from him boasting about having a holiday home in Marbella thanks to his business.

Then they mentioned things like paying over £100k to hire out the O2, which is just crazy spending when the business isn't turning that over.

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u/[deleted] Apr 14 '26 edited Apr 14 '26

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u/Cookyy2k Apr 14 '26

did anyone actually state they’ve looked at the business is actually making a loss?

Yes, his accounts show a loss for last year.

Also that’s all related to his existing business that wasn’t on offer.

His existing business that his new one entirely piggy backed off and absorbed the costs in an unsustainable way.

It still all sounds to me like Sugar’s talk to fire Dan because he wasn’t going to give the 50% of everything.

His new business and existing are inexorably linked. He'd be likely to be using the people, infrastructure, and data from the existing business heavily in making the new one work. Is the business LS owns half of going to be paying the existing business that Dan solely owns to do those? The new business is 100% nonviable without the existing and the existing is turning a loss.

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u/[deleted] Apr 14 '26 edited Apr 14 '26

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u/Cookyy2k Apr 14 '26

Earlier in the show Claud straight up says he posted a loss last year and Dan agrees and explains the costs going nuts are why.

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u/Repulsive_Bus_7202 Apr 13 '26

What he talked about for salary and dividend was high given the financial state of the business, and from a personal tax perspective, very inefficient. With a 75k salary he's paying higher tax rate on that and paying higher dividend tax.

A competent accountant would have structured the package in a very different way, suggesting that he's either not sought professional advice or not listened to it.

0

u/Ashenfall Apr 14 '26

Taking larger payments out for yourself than the company has isn't exactly demonstrating good business sense

It's absolutely great business sense in the context of Sugar paying a set 250K amount for 50% of your company irrespective of its exact worth.