[Ian Rochester]

My objective after my first 6 months of trading was always to build a business that was not dependent upon me being fit and able to work, would allow me time away if I wanted to, but still bring an income into the household. 

To the greater degree we now have that, I don't now need to do any physical work, however I do if I feel the need arises, which it still often does!!

Our client base is not "gold plated" we still need to look for work on a regular basis, however we also have a reasonably solid income stream from our regular window cleaning, office cleaning and domestic cleaning sides of the business to ensure that all the overheads are covered on a monthly basis.

Our carpet cleaning, which is what I started off doing when I was made redundant, now accounts for only about 10% of our total turnover, this is primarily due to our remote location, 30 miles from the nearest large city area.  We therefore don't get many of the "BIG" commercial contracts that others on here talk about.  We may do 400 miles a week or more in one vehicle to service our carpet cleaning side of the business.

We have therefore diversified into lots of areas of cleaning and restoration in order to keep busy and bring income into the business.  In reality, with the exception of the window cleaning and office cleaning sides of the business, most of the other avenues could each be operated by a sole trader or possibly a team of two. 

However, when they are all put together and managed under one business "Lionheart Group NE Ltd" they appear bigger than they actually are and we need 18 staff plus Sue and I to run them.

"When its all over?"  Hopefully either we will appoint someone to take over the day to day management of the business and draw a dividend from the business, or we find someone who wants to buy the business, the contracts, the goodwill, the premises and the assets off us.

I know of lots of companies out there who are doing exactly the same as we're doing, many of them are doing it a lot bigger, a lot better and a lot more profitably than we're doing it, as Simon says, building a sustainable business shouldn't be the exception.   

[neil 47]

My objective after my first 6 months of trading was always to build a business that was not dependent upon me being fit and able to work, would allow me time away if I wanted to, but still bring an income into the household. 

To the greater degree we now have that, I don't now need to do any physical work, however I do if I feel the need arises, which it still often does!!

Our client base is not "gold plated" we still need to look for work on a regular basis, however we also have a reasonably solid income stream from our regular window cleaning, office cleaning and domestic cleaning sides of the business to ensure that all the overheads are covered on a monthly basis.

Our carpet cleaning, which is what I started off doing when I was made redundant, now accounts for only about 10% of our total turnover, this is primarily due to our remote location, 30 miles from the nearest large city area.  We therefore don't get many of the "BIG" commercial contracts that others on here talk about.  We may do 400 miles a week or more in one vehicle to service our carpet cleaning side of the business.

We have therefore diversified into lots of areas of cleaning and restoration in order to keep busy and bring income into the business.  In reality, with the exception of the window cleaning and office cleaning sides of the business, most of the other avenues could each be operated by a sole trader or possibly a team of two. 

However, when they are all put together and managed under one business "Lionheart Group NE Ltd" they appear bigger than they actually are and we need 18 staff plus Sue and I to run them.

"When its all over?"  Hopefully either we will appoint someone to take over the day to day management of the business and draw a dividend from the business, or we find someone who wants to buy the business, the contracts, the goodwill, the premises and the assets off us.

I know of lots of companies out there who are doing exactly the same as we're doing, many of them are doing it a lot bigger, a lot better and a lot more profitably than we're doing it, as Simon says, building a sustainable business shouldn't be the exception.   

Ian

Youve done a great job of thinking ahead , thats what I meant by when its all over .

However , I have had several diffrent jobs from office based to contract mining and they are both as hard work as the other Mining had no stress as such but office work I found to be extremely stressfull.

Back to the drawing Board for me .

Teddycare , think your right about

[Shaun_Ashmore]

Ian are you still doing the leather?

Neil how many jobs do you do in a week? The reason I ask is that I didn't understand how many you were doing for the £1500 or so a week, the reason I ask is that if you change the way you do things or add on it's better to understand the question, Ian May be able to add his experience and help you add value to your business.

Shaun

[Ian Rochester]

Shaun,

Yes still doing the leather, got 12 suites/sofas/chairs in at the moment!! 2 to pick up on Friday and 3 to price on Monday.  Workshop is like SCS at the moment 

[Andrew Briscoe]

We have a similar business model to Ian, although we dont have as many staff, 15 at the moment. I am just going from the hands on part to a more managing role, just finding it difficult to get quality staff.
We are also in a very rural area and also travel many miles each month covering contracts all over Cumbria and north Lancs

Hopefully my son will take over the business and I step back on retirement or I will sell the business.

[neil 47]

Shaun

Its not the amount of jobs ,

I could earn the same as you, or simon if I wanted ( was fit Enough) anyone could with desire, hard work and a plan , but that,s Just Not possible.
Simon is right you have to dedicate yourself to it .

Because about a year and half ago I was diagnosed with rheumatoid arthritis which limits the amount of physical work I can do , I,m fine at the moment but that,s with the help of very strong drugs (Methotrexate ).

4 Jobs a week to earn £1500 was a tongue in cheek comment .

I wish I had found cc when I was in My Twentys ,I would of had more control and time to build multiple streams of income and had the drive .

So im just looking for other ways to add to my retirement from cc not work. as when i was not able to work for 8 months i learnt a lot about seo and marketing and will look at working in that area .

Thanks though

[Shaun_Ashmore]

It was tongue in cheek but also the way I read it, if you want another income stream I would recommend property to rent if you are looking for a second job to add to cleaning then try window cleaning start up a round then just put staff on it I bet it would only take a couple of months.

Shaun

[Mike Halliday]

The only reason I can see to stop working is due to mental ill health, as long as your mind is strong you can find assistants to do the physical work, with this in mind I will never retire. I will slow down maybe do 2-3 days a week which would bring in more than any pension scheme.

My dad sits In front of the tv all day with the odd trip to the bookies, he's bored to death almost. Why retire if you love what you are doing, I look forward to getting out meeting people and cleaning carpets, why should I stop because society says you should 'retire' when you are old.

[Doctor Carpet (Ret'd)]

Mike

It depends upon what you mean by "retire". For most people it means stopping paid work and then sitting in front of a tv until you pop your clogs. There are other ways of looking at it.

I want to escape from the clutches of being beholden to jobs booked into a diary.

There are places to see, people to meet, experiences to encounter, books to  read and ideas to explore and I won't have time to do all these things if I continue to clean carpets.

All the above will provide plenty of stimulation and I can still do voluntary work as well. This could be for me either working with charities who help people who have got into financial messes or it could be something physical like clearing rubbish or repairing stone walls. Obviously the hours worked will be considerably less, of my choosing and with plenty of flexibility factored in. The physical side will depend upon how my body holds up. (Or I could just try and improve my golf handicap!). Then there's aged parents and disabled family members to help.....

Building my business to the level where I could sell it at a huge profit was always about forward looking with a 14 year plan so I could stop paid work early enough. I would have had to work a number of years longer to achieve a net income equivalent to the sale price of the business. I have enough saved now to give up paid work so at least I have the freedom to choose what I want to do and when to do it.

Finally I am reminded of that quote of Clive Jenkins (1970s trade union leader of one of the white collar unions) "If working is such a good idea how come in general the rich let the poor do it?"

Rog

[derek west]

The only reason I can see to stop working is due to mental ill health, as long as your mind is strong you can find assistants to do the physical work, with this in mind I will never retire. I will slow down maybe do 2-3 days a week which would bring in more than any pension scheme.

My dad sits In front of the tv all day with the odd trip to the bookies, he's bored to death almost. Why retire if you love what you are doing, I look forward to getting out meeting people and cleaning carpets, why should I stop because society says you should 'retire' when you are old.

thats pretty much my plan. as long as the body keeps going, when the time comes i just stop marketing and do the jobs that come in from past customers. no marketing costs so pretty much all profit.

[Paul Clapham]

Derek TBF I don't think any business can ever stop marketing, your customer base will shrink very quickly if you do so, they will think you have gone out of business, and other CC's, both new and established,  will continue to market their business to "your" customers.

[derek west]

Derek TBF I don't think any business can ever stop marketing, your customer base will shrink very quickly if you do so, they will think you have gone out of business, and other CC's, both new and established,  will continue to market their business to "your" customers.

but i wont be growing the business, i'll be semi retired and will be just doing the odd job that comes in. my website will still bring in work if websites are still around in 20 years and my database of regulars will supply me with enough to pay my bills.
thats the plan, hope your wrong and i'm right paul.

[Teddycare]

I'm pretty much the same as Mike and Derek, will go on as long as I'm physically able, according to my wife mentally I should have given up years ago.
I was surprised to hear the other day that one of my close friends that runs a bath showroom has reached his 70th birthday, has applied for his new licence and had a medical which entitles him to drive a van, but is unable to find an insurance company to ensure him, this I find worrying as I will probably be working beyond 70, and now at 64 and considering investing in  a new van, be a pity if I can only drive it for another 6 years, any thoughts on that?

[wynne jones]

It is what you make it.

[Paul Clapham]

Now that's a worrying thought , not being able to get insurance for a van at the age of 70, did he have older convictions such as speeding or drink driving ?

I have just remembered, I was talking to a chap on my skiing hols in January and he was gutted, as this was going to be his last one, as it was impossible to get insurance for next year as he will be 70

[Teddycare]

Hi Paul, the chap I'm talking about Has a squeaky clean Licence, He's the boss of a very successful business employing his son and 4 other workers but he is really cheesed off that he can't drive his own vehicles, but at least his business still runs, as for us one-man businesses what The hell do we do, so much for age discrimination, maybe we should just drive without insurance, the government says as long as we are fit and have a medical to prove it Then we have a licence to drive a van.

[Steve Barnett (Carpet Care Plus)]

Hi Paul, the chap I'm talking about Has a squeaky clean Licence, He's the boss of a very successful business employing his son and 4 other workers but he is really cheesed off that he can't drive his own vehicles, but at least his business still runs, as for us one-man businesses what The hell do we do, so much for age discrimination, maybe we should just drive without insurance, the government says as long as we are fit and have a medical to prove it Then we have a licence to drive a van.

Not wishing to split hairs Ted, but if he has a successful business and employs 5 people including his son, then why on earth is he bothered about driving a van ?
Me personally, I will not be cleaning carpets when I'm 70, assuming  I live that long

[Shaun_Ashmore]

I can't make my mind up at 70 I could be sat on a beach somewhere or I could do the odd job carpet cleaning isn't that hard for say a job a day.

Shaun

[Carpet Dawg]

Same here Steve.

I really like the job but my plan is to stop cleaning carpets at around 50 - 55 tops (Sooner if I win the lottery or marry a sugar mamma), hopefully living off other business interests and investments.

[Ian Rochester]

There is no way I want to be still working for a living at 70!!  I'm looking at retiring at 60, I would have liked it to have been 55 but I don't think the master plan will accommodate that