Clean It Up
UK Window Cleaning Forum => Window Cleaning Forum => Topic started by: Spotfree on June 22, 2021, 05:20:45 pm
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Hi guys need some advice
Me and the wife have our differences, looks like we may not be able continue the marriage
Both directors ( I built and run it )
She does 6 days per month
Turnover roughly 50k
Costs around 8k
I want to be fair to us both
What’s a reasonable figure to offer to buy her out please?
Thanks
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Have you spoken to your accountant, I would like to think he/she could give you an informed opinion.
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Have you spoken to your accountant, I would like to think he/she could give you an informed opinion.
I have, he did.
I just wandered what kind of price a round like mine may fetch today.
When I used to be interested in window cleaning I think rounds were going for roughly 3x monthly
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As it is a ltd company I would guess the way to value it would be different to selling a window cleaning round. Also if your wife works for the company 6 days a month I would guess you will be making her redundant.
Another factor would be how much time/effort your wife put into building up the business.
You also have the value of the equipment e.g. van, poles RO system etc.
That is why I thought your accountant's opinion would be more valid. Personally I would value the round at 3x monthly profit as a starting point (if your wife agrees) and factor the other elements into the equation.
Hope it all works out for both of you.
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Give her the S h i T e jobs and send her packing ☝️ Tell her not come running back when she finds out some blondie 👱♀️ has been stopping by ,
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Give her the S h i T e jobs and send her packing ☝️ Tell her not come running back when she finds out some blondie 👱♀️ has been stopping by ,
hahaha…according to her I am that type of txxt!
But seriously she’s has our children and I want it to be fair.
My accountant acts on both our behalf’s so it’s awkward for him to talk about it.
I think 3x the monthly , the tranny is 2012 with full service and somewhere around 100k and some rust spots. Probably worth a couple of grand, the equipment I’ve had for years so it’s probably worth a mint on eBay, they love the haggered Gardner gear there!
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Give her the S h i T e jobs and send her packing ☝️ Tell her not come running back when she finds out some blondie 👱♀️ has been stopping by ,
hahaha…according to her I am that type of txxt!
But seriously she’s has our children and I want it to be fair.
My accountant acts on both our behalf’s so it’s awkward for him to talk about it.
I think 3x the monthly , the tranny is 2012 with full service and somewhere around 100k and some rust spots. Probably worth a couple of grand, the equipment I’ve had for years so it’s probably worth a mint on eBay, they love the haggered Gardner gear there!
Just because someone is prepared to pay silly money on Ebay for window cleaning equipment doesn't mean its worth that in the business world.
It would be interesting to see what the Transit is worth on "we buy any van.com".
Ask an accountant how much good will is worth. Your customers are not assets in your company. Even the Receiver accepts this, as they don't (or didn't) consider purchasing a round as a tax write-off against expenses.
I might even pay for the services of a different accountant who isn't involved with both of you. I would probably do this without her knowledge. No matter how civil things start out to be, divorce usually ends up in a bitter fight. In most cases the bloke comes off second best. Its the nature of the beast.
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Hi guys need some advice
Me and the wife have our differences, looks like we may not be able continue the marriage
Both directors ( I built and run it )
She does 6 days per month
Turnover roughly 50k
Costs around 8k
I want to be fair to us both
What’s a reasonable figure to offer to buy her out please?
Thanks
Sorry to hear this but you need the advice of a solicitor not a bunch of think they know what they are talking about window cleaners for something like this
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It won’t be up to an accountant to tell what you’ve got to pay your Mrs it will be a Solicitor lol,I hope she doesn’t get a good one for you’re sake.
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Who are the shareholders and what percentage does each own? My guess is 50% each you and her.
However it will all go into the pot as each lawyer works their 'tragic magic'.
In my experience the mum gets the lion's share if there are dependent kids to be catered for.
It's a lawyer you need.
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Hi guys need some advice
Me and the wife have our differences, looks like we may not be able continue the marriage
Both directors ( I built and run it )
She does 6 days per month
Turnover roughly 50k
Costs around 8k
I want to be fair to us both
What’s a reasonable figure to offer to buy her out please?
Thanks
thats roughly what i turnover on my own these days working 25 hours a week and £8k expenses per year are very similar too!
id offer her £10k by BACS transfer straight into her account and see what she says........i hope you can come to some sort of amicable agreement without being dragged through any courts.......
mind how you go mate......
i know a few guys who are going through divorces at the moment with kids involved....... :(
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I am very sorry to hear that your marriage has ended. I had a divorce a few years ago. its an awful experience !
use a solicitor. dont do anything on your own , unless your wife agrees to it.
even then its best to get it in writing from a solicitor .
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Hi guys need some advice
Me and the wife have our differences, looks like we may not be able continue the marriage
Both directors ( I built and run it )
She does 6 days per month
Turnover roughly 50k
Costs around 8k
I want to be fair to us both
What’s a reasonable figure to offer to buy her out please?
Thanks
Sorry to hear this but you need the advice of a solicitor not a bunch of think they know what they are talking about window cleaners for something like this
Exactly, people cant agree on here whether its better to have heated van seats in the summer or a compact round of front onlys.
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Topic on divorce and ltd companies and Dazmondo still gets the 25hrs part time into it ;D
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We'll be talking about 5* holidays in Greece soon...
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on this thread.
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Daz’s posts usually include some of the following key words/phrases:
Part time now
My transit connect
Record day
Heated seats
New customer
25 hours
Greece
Drums
And there’s usually plenty of ‘…..’ in his posts
;D
……
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Sorry to hear your marriage may becoming to an end
Really I would spend £200 and have a meeting with a solicitor - either divorce or business one
As far as I am aware it comes down to the shares you have - if you made the classic mistake of going 50/50 then you will be in stalemate as neither of you can make a decision without the others agreement
usually - shares in small companies are valued at £1 each and there are 100 shares - so technically you could buy her out for £50 or whatever the amount she holds - however thats not the value of the biz, I think you would have to negotiate a buy out price - either a full years profit or % over the last 3 years or time she was a director.
Another way is simply that she stays a director ( if less than 50% ) and each year takes her dividend
I doubt this will be easy or smooth for you over the next year or so
Darran
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The value of the business will be considerably lower than she thinks and considerably higher than you think.
See a specialist divorce lawyer asap.
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let this be a warning to other lads...dont ever get married and certainly dont go 50/50 in a business and NEVER have a joint bank account...keep everything separate....
for most people its pointless getting married......so many people get divorced within 5 or 10 years.....its BS...
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im sure you can come to an agreement without arguing, you was married and in love once !
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Thanks for all the advice
I’m still taking time out and trying to decide what I want to do
It’s awkward as the Ro and Ibc are still at home , she’s letting me fill the van each night so at least there’s some co operation
If we do decide we can’t work through it, I hope we can sort this out by ourselves and have something drawn up by a solicitor.
Time will tell, after the last 18 months-anything is possible now!
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im sure you can come to an agreement without arguing, you was married and in love once !
Haha…one before the other!
No, we get well over most things but somethings we just get around
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don't agree with Dazmond
I've been married for 25 years and still going strong
And she's a partner in the business.
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let this be a warning to other lads...dont ever get married and certainly dont go 50/50 in a business and NEVER have a joint bank account...keep everything separate....
for most people its pointless getting married......so many people get divorced within 5 or 10 years.....its BS...
This is an insane statement on two fronts Daz..
1) You’ve never been married
2) You’re planning on getting married.
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let this be a warning to other lads...dont ever get married and certainly dont go 50/50 in a business and NEVER have a joint bank account...keep everything separate....
for most people its pointless getting married......so many people get divorced within 5 or 10 years.....its BS...
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This is an insane statement on two fronts Daz..
1) You’ve never been married
2) You’re planning on getting married.
err......whos getting married?not me mate.....im engaged to my missus but defo no plans to get married......separate houses and separate bank accounts! :D
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err......whos getting married?not me mate.....im engaged to my missus but defo no plans to get married......separate houses and separate bank accounts! :D
I'll be moving in with my missus when we get married....shes got a 4 bed house and earns more money than me.....shes not got many years left on her mortgage now.....🙂👍
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I'll be moving in with my missus when we get married....shes got a 4 bed house and earns more money than me.....shes not got many years left on her mortgage now.....🙂👍
I think Daz is just waiting until she has cleared the mortgage before getting married.
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I'll be moving in with my missus when we get married....shes got a 4 bed house and earns more money than me.....shes not got many years left on her mortgage now.....🙂👍
you dont seriously think i meant it do you matt?absolutely no chance esp after the amount of people i know that are going through a divorce at the present time....... ;D
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Sounds like you did mate.
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Daznond. Bang to rights. Backpedalling like a unicyclist on the edge of an abyss! 🤣
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My advise would be quite opposite to most so far. Only use a solicitor if its an absolute last resort, try talking to her 1st and see what she wants. Solicitors are parasites, you'll quite probably be handing over wads to one anyway if your both set on going down that road so try and sort out as much as you can amicable without using one. Stay calm and find out what she wants before putting your side. You never know, she might not want any part of the business , she might have designs on other assets you both have. Hope you can both sort things out without too much agro, better still, hope you can both find a way to stay together and be happy.
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I love it when people get caught out talking BS.. problem with lying is you’ve gotta keep on telling more lies to cover your first one 😂
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Tell you what is insane, spending a load on an engagement ring, proposing to get engaged with no intention of ever getting married, it makes no sense , pure nonsense
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err......whos getting married?not me mate.....im engaged to my missus but defo no plans to get married......separate houses and separate bank accounts! :D
Who on earth gets engaged with no intention of getting married?
I think it's called leading them up the garden path.
All I can say is keep your phone and laptop locked and away from your fiancée and make sure she never gets near this PUBLIC forum!
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err......whos getting married?not me mate.....im engaged to my missus but defo no plans to get married......separate houses and separate bank accounts! :D
I'll be moving in with my missus when we get married....shes got a 4 bed house and earns more money than me.....shes not got many years left on her mortgage now.....🙂👍
Brilliant ;D ;D ;D
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Thing is when you get caught on the BS, you don't half loose credibility, it leaves me wondering if the talk of heated seats ,big earning ,5* bla bla is all Just a load of BS too
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Or even a girlfriend ;D
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err......whos getting married?not me mate.....im engaged to my missus but defo no plans to get married......separate houses and separate bank accounts! :D
I'll be moving in with my missus when we get married....shes got a 4 bed house and earns more money than me.....shes not got many years left on her mortgage now.....🙂👍
Lol caught out well and truly 😂😂😂😂😂
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Daz - and they say 'romance is dead'! ;D
Spotfree - I have to say you sound like a decent chap; in the face of adversity, you're still looking to be fair and reasonable for yourself, your wife and your kids. Personally, I would say sod solicitors and lawyers, find an agreement between you and your wife that suits the pair of you. And hopefully you'll save a bit of money in 'fees as well. That is, of course, providing she's not a complete nut job!
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lets hope shes not a bunny boiler........... :)
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Tell you what is insane, spending a load on an engagement ring, proposing to get engaged with no intention of ever getting married, it makes no sense , pure nonsense
it was £900.....hardly a fortune.....ive always been a commitment phobe......who knows maybe i will get married eventually in another 20+ years when im 70......im too young yet at 49...... ;D
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.dont ever get married and certainly dont go 50/50 in a business and NEVER have a joint bank account...keep everything separate....
so plan to fail right? ;)
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Another twist- our little boy was rushed into hospital for emergency surgery tonight, bought everything into perspective for us.
I think our disagreement seems insignificant now.
Been sat here dangling on a shoe string for the last hour but the wife's just called and he's ok.
He was complaining of a saw teste this morning and again after school, the doctors sent him to hospital and they operated on him right away as they thought it could be twisted and will die within hours if so.
Luckily it was a cyst, poor lad. second op for him since September.
Life's been a flipping roller coaster lately, what next...
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Another twist- our little boy was rushed into hospital for emergency surgery tonight, bought everything into perspective for us.
I think our disagreement seems insignificant now.
Been sat here dangling on a shoe string for the last hour but the wife's just called and he's ok.
He was complaining of a saw teste this morning and again after school, the doctors sent him to hospital and they operated on him right away as they thought it could be twisted and will die within hours if so.
Luckily it was a cyst, poor lad. second op for him since September.
Life's been a flipping roller coaster lately, what next...
Geez poor lad, I can attest to the pain of an emergency op due to a twisted testy, have never experienced pain like it, but apparently it’s very common for teenage lads.
Hope he’s on the mend.
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A twisted bollock. That’s what Daz’ll be getting when his
fiancé missus reads this thread.
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Another twist- our little boy was rushed into hospital for emergency surgery tonight, bought everything into perspective for us.
I think our disagreement seems insignificant now.
Been sat here dangling on a shoe string for the last hour but the wife's just called and he's ok.
He was complaining of a saw teste this morning and again after school, the doctors sent him to hospital and they operated on him right away as they thought it could be twisted and will die within hours if so.
Luckily it was a cyst, poor lad. second op for him since September.
Life's been a flipping roller coaster lately, what next...
Geez poor lad, I can attest to the pain of an emergency op due to a twisted testy, have never experienced pain like it, but apparently it’s very common for teenage lads.
Hope he’s on the mend.
Thanks ,
He's 8 and it wasn't twisted after all just a cyst which they removed whilst open.
He's high as kite right now but he'll get the day off tomorrow.
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A twisted bollock. That’s what Daz’ll be getting when his fiancé missus reads this thread.
;D ;D ;D
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I can’t believe that you get married do anything for each other and then years later do anything to leave each other with nothing lol,my Mrs is a one off she would give me her last Rolo every time if you don’t start off as best friends marriage never works long term if you have the right partner you don’t need anyone else.
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it was £900.....hardly a fortune...
Agreed, you could get 3 or 4 oil changes for that.
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it was £900.....hardly a fortune...
Agreed, you could get 3 or 4 oil changes for that.
11 oil changes with £20 left over actually mate....... ;D....local garage charges £80
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You would have been better off booking your van in for a service for next 11 years than tossing off £900 on a useless trinket for your missus/fiancée's finger Daz ;D