Clean It Up

UK Window Cleaning Forum => Window Cleaning Forum => Topic started by: ftp on November 09, 2008, 09:22:16 am

Title: Have you made it yet?
Post by: ftp on November 09, 2008, 09:22:16 am
How do you know when you have made it to the end of the tunnel?
 When your busy most days? When you earn X amount per week? When you employ staff? or just when you are in a position to dump some of your crap customers? Or is it when you have no need to canvas/advertise or take on any more?
Title: Re: Have you made it yet?
Post by: ftp on November 09, 2008, 09:40:15 am
Well for me it's simply not having the need to look too hard for more work. I don't want to employ, run another van or expand so i'm happy for now.
Title: Re: Have you made it yet?
Post by: *frank cannon on November 09, 2008, 10:05:39 am




Well for me it's simply not having the need to look too hard for more work. I don't want to employ, run another van or expand so i'm happy for now.

similar thoughts to you ftp and also..

The freedom that breeds confidence that the job gives ...you can go on and achieve  personnel ambitions in life..ie if you fancied going abroad to  live  if things didn,t work out you would have  peace of mind in knowing  you can soon drop back into self employed w/c on your return....Llandudno here I come :P

Title: Re: Have you made it yet?
Post by: Londoner on November 09, 2008, 12:18:07 pm
In a sense you never make it to the end of the tunnel. There is always more you can do.

Being able to pay the bills and have a little left over is the turning point where the worry and stress stops and thats a nice stage to reach. 
Title: Re: Have you made it yet?
Post by: Tosh on November 09, 2008, 12:33:19 pm
Being able to pay the bills and have a little left over is the turning point where the worry and stress stops and thats a nice stage to reach. 

I've reached and breached this stage, just within the past few months; and it is a truly nice place to be.

Every-now-and-then I tot up how much is in the bank, how much I've got in cheques waiting to be banked, and I just can't quite believe it.  All my bills for the end of this month were covered by Friday just gone and we've another three weeks of this month 'in hand'; which tax and expenses deducted; is all ours!

We've also opted for a months payment break in December for our mortgage; just as a one-off treat; so no pressure at all for the month after that too.

We could take a month off if we wanted; we won't though; it's time to start some serious saving (though we have got some put away from an inheritance; but all my savings went when I started window cleaning, on boring stuff like food and bills).

I can hardly believe it, but's it's been a struggle to get here mind.

And we've still plenty of spare capacity; if next year is as good as this year (credit crunch or no credit crunch); we'll have arrived at 'that place' we want to be.
Title: Re: Have you made it yet?
Post by: AuRavelling79 on November 09, 2008, 12:45:40 pm
I'm pleased for you Tosh - just don't go living up to the new income level and getting yourself on the hamster wheel again! And when your Army pension kicks in it'll get even better!

As for me, I don't think I'll ever earn enough having 3 daughters to "help"  ;D - but it's very rewarding and I'm quite content. At the mo' we're all healthy and Mrs Gold and I still love each other (shucks :-[) so what more do I want?


Well, she might just be a good liar of course! :)
Title: Re: Have you made it yet?
Post by: Tosh on November 09, 2008, 01:32:56 pm
I'm pleased for you Tosh - just don't go living up to the new income level and getting yourself on the hamster wheel again! And when your Army pension kicks in it'll get even better!

Thanks Malc,

I've got a degree in being skint; I even flogged my army medals on e-bay about five-years-ago to pay for some car repairs; we didn't have a 'bean' no access to credit; and there was no way I was going crawling to parents.  That was a tough time; it's stressful being skint and worrying about bills.

So just paying the bills comfortably, without working your guts out is a nice place to be.  I started window cleaning because I thought it would be great not having the stress of a truly demanding occupation; I wanted nothing more than to get the bills paid, some savings for emergencies, and have a bit left over; but I didn't think it would be such a difficult route to get to here from where I began.

It's probably why I like this forum so much; if it wasn't for the help and support I've received from it, I'd be working... well who knows - but not as a window cleaner.

I've had a little bit of correspondance with Alex Gardiner on another site; I thought he had the impression that I was having a personal 'dig' at him with regards to my DIY pole posts, with regards to his product; but I wasn't.  Im just trying to give a little back, after all the help I've received. 

Anyway, I'm not 'rolling in it' yet - give me another year-or-two - but I know plenty of window cleaners who could benifit from a few equipment/money saving tips.

And, it's good that you've got a happy family life; don't you think you can strike a good work/home life balance being a window cleaner?  Not many of us work the long hours expected of some office workers. 

Wor Lass is currently running some cross-country race in Bath; she's upped her training because she's been asked to run for East Wales in some other cross-country thing.

So I'm skiving on the internet!  ;D
Title: Re: Have you made it yet?
Post by: Kevin R on November 09, 2008, 03:07:08 pm
For me its all about resetting the goals every now and then then striving for the new targets.

I get bored and like a challenge so my business is that challenge.  I once enjoyed being sole-trader and making a lot of money each week for myself doing residential  - then after having a fall and being off work for a fair while than having a heart attack (congenital defect no one spotted combined with years of smoking) the goals changed. I grew my business with loads of commercial work and took on subbies to help and continue grow.

I have a couple of kids and I am getting older. Working at my current rate physically for as long as I can is no security as I am my business - Sure I have sub contractors for some jobs but the bread and butter I would struggle to do if something happened.

So my goals are to build a business - not a job for myself. Then if something happened it would still continue to work for my family and my family work for it or at the worst sell it.

I have just taken on my first employee - on a trial basis. For now they will be getting a training hourly rate whilst I work out the details but Its a step in the right direction. I will order my second vehicle if he is suitable and then start training the next one in March if all goes to plan.

I have just been awarded a service contract for a very large company so the money from that will cover all our wages whilst I grow some other parts of my business. The good thing is they pay us in monthly installments so that makes the wages easier.

My plan is to be supervising and marketing only by 2010.  So the light at the end of the tunnel for me keeps moving as my business evolves, grows and changes.

Personally I would like to be able to spend a bit more time with my family - hopefully my business will provide this opportunity.  ;)

As to have I made it? Well do you ever is possibly the answer?
Title: Re: Have you made it yet?
Post by: ftp on November 09, 2008, 05:17:08 pm
Interesting replies that some have taken a lot further than what i was asking. Really i only meant in the windowcleaning sense as far as starting it as a new career. But thanks very much for the answers. Some of you have had quite some tales to tell. 
Title: Re: Have you made it yet?
Post by: Clive McDonald on November 09, 2008, 06:08:07 pm
Yes they were interesting replies. To take what Tosh said first, well done, i was skint for a lot of years and trapped in a nightshift job I hated. As regards Tosh's correspondence with me, alex, or squeaky, he always takes as well as dishing it out and never shows a mean streak even when replying to racial comments.

Then Kevin R, again it's easy enought to indentify with what he's saying. What may surprise him is that in moving over to the marketing and admin he have to learn new skills and this could become the new challenge he enjoys the most. The money's only a way of keeping score. Besides even if you make a million there's allways someone who's made two million, and is ten years younger.

Window Cleaning didn't save me from poverty, I was pretty well set when I started, but i have given this job everything. About 14k in startup and then some very hard work, and a lot of time spent on this site. I know i come across as a bossy argumentative know all at times but this is my way at arriving at solutions and thinking things through.Bear in mind that I was the first on here to rig a hot on demand system and mine is still streets ahead of anyone else's; I cracked the electric reel problem; and I have developed dry remote access gutter cleaning and unblocking techniques and tools that no one else has.

So I suppose my goal was to be the best technically, and I succeeded in this for about five minutes, but more and more are going hot now and I expect that with time pretty much everyone will have an electric reel too.

So where does that leave me? Looking for a new challenge, and at the moment it's earnings.

Title: Re: Have you made it yet?
Post by: dai on November 09, 2008, 06:51:35 pm




Well for me it's simply not having the need to look too hard for more work. I don't want to employ, run another van or expand so i'm happy for now.

similar thoughts to you ftp and also..

The freedom that breeds confidence that the job gives ...you can go on and achieve  personnel ambitions in life..ie if you fancied going abroad to  live  if things didn,t work out you would have  peace of mind in knowing  you can soon drop back into self employed w/c on your return....Llandudno here I come :P

Why Llandudno? I have never seen so many start ups in the last 15 years.
There is one guy who rents work out to benefit recipients, he takes 40% off the top, eventually these guys, either through getting caught or falling out have started up on there own.
Llandudno now has loads of window cleaners.

I think I am where I wanted to be financially, I wish I didn't have to work so hard for it.


Title: Re: Have you made it yet?
Post by: Sir Squeaky on November 09, 2008, 06:55:59 pm
Being able to pay the bills and have a little left over is the turning point where the worry and stress stops and thats a nice stage to reach. 

I've reached and breached this stage, just within the past few months; and it is a truly nice place to be.

Every-now-and-then I tot up how much is in the bank, how much I've got in cheques waiting to be banked, and I just can't quite believe it.  All my bills for the end of this month were covered by Friday just gone and we've another three weeks of this month 'in hand'; which tax and expenses deducted; is all ours!

We've also opted for a months payment break in December for our mortgage; just as a one-off treat; so no pressure at all for the month after that too.

We could take a month off if we wanted; we won't though; it's time to start some serious saving (though we have got some put away from an inheritance; but all my savings went when I started window cleaning, on boring stuff like food and bills).

I can hardly believe it, but's it's been a struggle to get here mind.

And we've still plenty of spare capacity; if next year is as good as this year (credit crunch or no credit crunch); we'll have arrived at 'that place' we want to be.
Pretty much the same as me Tosh.

I know what my bills equate to per week, and most weeks I've passed that by wednesday.
Last week I'd made what I needed to by tuesday.
3 days to line my pockets.
As you say, nice.  :)
Title: Re: Have you made it yet?
Post by: seandyer2003 on November 09, 2008, 08:30:12 pm
My plan too, i am currently earning just what i need each month so not alot spare, but every job i pick up now is money in my pocket, cash in my hand, scrilla in my wallet :)
Title: Re: Have you made it yet?
Post by: bwoofie on November 09, 2008, 11:42:35 pm
Good to hear some positive stories cos it aint all bad out there, but aint it true that the more hardship you go through in the earlier years makes you appreciate the good times after all the hard work?
Title: Re: Have you made it yet?
Post by: gary evans on November 10, 2008, 08:22:42 am
I,m in the niddle at minute have invested loads of, time effort & money. But, sometimes feel i am just chasing the wages as they say. Today monday i have 4 vans sitting outside doing nothing, yes reasons for it, but 2 of them could have been out.

We have bad debtors, late payers & reduce price or frequency syndrome. I still continue but, times are hard for small business,s & are going to get harder. We have 2 choices downsize or invest to grow, both, come with problems.

By 12 today i know if i have a job to save my company as it stands, it will be the biggest job i,ve ever done, if i dont get paid i will be bankrupted, c/pickers & equipment alone is approx £2,000 per week, then, labour to be added on.

On the other hand I downsize at 12, lose employees & put rest on short week & hopefully, with  a couple of small jobs reach xmas.

Last week i did 14 hour days starting at 4 to get organised for this quote & others, i,ve worked all day sat & sun with one job we got, & i am in at 6 this morning, one employee who didnt work the weekend has not come in so the other lad has been sent home, it doesnt rain it poors, we had loads booked on that van today.

I,m in office trying to keep them in employment, with loads to do & quotes to keep us a float, so unable to go on van, is it worth it. Yes????

Gary
Title: Re: Have you made it yet?
Post by: Alex Gardiner on November 10, 2008, 09:00:14 am

I've had a little bit of correspondance with Alex Gardiner on another site; I thought he had the impression that I was having a personal 'dig' at him with regards to my DIY pole posts, with regards to his product; but I wasn't.  Im just trying to give a little back, after all the help I've received. 

Hi Tosh,

Never thought you were having a dig at me, you were just showing an alternative option. I did then post some info as you were asking about early day SL development.

As far as having made it yet - The road to success is always under construction.
Title: Re: Have you made it yet?
Post by: Londoner on November 10, 2008, 02:14:49 pm
"The road to sucess is still under construction"     I like that, it might explain why its still got some naffing great potholes in it along the way.

You never know when you talk to another window cleaner what he has had to live through or the road that has brought him to this point.
Some of the stories on here over the years have been very moving and I feel sad that some of the former posters have gone now because there were some  that I still wonder about.

I'm sure Tosh remembers them better than me.

Title: Re: Have you made it yet?
Post by: gary evans on November 10, 2008, 05:38:35 pm
Usual no answer this job is waiting to start & no response.

Gary
Title: Re: Have you made it yet?
Post by: ftp on November 10, 2008, 07:08:47 pm
and i thought windowcleaning was stress free.  :o
Title: Re: Have you made it yet?
Post by: Clive McDonald on November 10, 2008, 08:20:08 pm
Some really good replies to this- gary evans shows the reality of even moderate success. Some of the posts make me feel a bit humble and embarrased when I am always sw***ing on here, but it's my way of trying to think my way through this maze and I think that some of you catch that.
Title: Re: Have you made it yet?
Post by: j.v. price ltd on November 10, 2008, 08:37:43 pm
How do you know when you have made it to the end of the tunnel?
 When your busy most days? When you earn X amount per week? When you employ staff? or just when you are in a position to dump some of your crap customers? Or is it when you have no need to canvas/advertise or take on any more?

What a fantastic question.

I think the answer will be different for each person, I know with me that everytime i reach one of my business goals, i set another one and have started setting the goals higher and higher.
If you work for someone else they will set you targets, when you work for yourself i think you have to set the targets yourself.

My current goal is to double the size of my business in the next 12 months

Good luck with everyone else and there targets

Charlie
Title: Re: Have you made it yet?
Post by: seandyer2003 on November 10, 2008, 08:41:14 pm
How do you know when you have made it to the end of the tunnel?
 When your busy most days? When you earn X amount per week? When you employ staff? or just when you are in a position to dump some of your crap customers? Or is it when you have no need to canvas/advertise or take on any more?

What a fantastic question.

I think the answer will be different for each person, I know with me that everytime i reach one of my business goals, i set another one and have started setting the goals higher and higher.
If you work for someone else they will set you targets, when you work for yourself i think you have to set the targets yourself.

My current goal is to double the size of my business in the next 12 months

Good luck with everyone else and there targets

Charlie

I wanna double my turnover again, but that aint alot, for you that must be millions  :o however you must have sales people, and staff to do it etc so i suppose it is relative , still i know which id rather be  ;)
Title: Re: Have you made it yet?
Post by: Steve CM on November 10, 2008, 08:47:22 pm
i don't have an end goal. just a 10 year plan. so far so good but i'm sure the goal posts may move along the way ;)
Title: Re: Have you made it yet?
Post by: seandyer2003 on November 10, 2008, 08:52:52 pm
When you lads have ten years plans, are they all money - turnover based or are they "i want to be doing nothing but earning x amount etc, or have x amount of commercial contracts etc....what do you plan your goals to ?? Mine are they i want to be living comfy on 3 1/2 days a week, which i can, from there i am going to spend other 1 1/2 days hammering commercial properties to get contracts and slowly but surely ween off the domestic to a higher % of commercial, but i am happy not to take staff on, maybe in 20 years when i am getting on (41 :) ) But just wondered what you goals are specifically when you say "ten year plan" if you dont mind spilling the beans :)
Title: Re: Have you made it yet?
Post by: Steve CM on November 10, 2008, 08:55:28 pm
its all about profit! ;D ;D
Title: Re: Have you made it yet?
Post by: j.v. price ltd on November 10, 2008, 09:00:06 pm


It is relative for sure.

Some days i think it would be great to be just me and one of my Bronto's out earning a pretty penny every day, no staff issuse it would be great but for all the bad I LOVE IT.


My Dad lost all interest in a business that he had started and run for 30 years from his dinning room, with my mum doing the books. He started with nothing and grew the business to a turnover 600k and it stayed there for 6 years, guess this was the time when he decided he had made it.


Since I bought the company three years ago i have had the goal to have one of the biggest window cleaning companies in the uk oh yer and also want to drive past my old school teacher in a Lambo shouting I'm gonna be a nobody window cleaner like my dad hey ha ha

LIVE THE DREAM

Charlie
Title: Re: Have you made it yet?
Post by: matt on November 10, 2008, 09:00:30 pm
my goals have been reached and its been fairly easy, did i set them too low ? ? ? ? i know my outgoings are fairly small ( ive been lucky in that aspect ), should i be doing more to have more money saved in the bank ? ? ? ? ? ? after my holiday i dont know ? ? ? ? ? what would i do with the extra money, save it ? ? ? ? ? spend it on enjoying life ? ? ? ?  i have a sneaky feeling it would be the latter option

on the drive from gatwick today i thought on the idea of doing a little more and having more holidays a year, but to do more work i would have to  sacrifice family time and work in it

Title: Re: Have you made it yet?
Post by: seandyer2003 on November 10, 2008, 09:01:41 pm
i suppose that is the main reason we do it eh, although many psychologists disagree i have been reading alot recently on motivation and many who have done research into it feel money is a poor motivator and rather the desires to be great, or to have sense of accomplishment are better, i think ITS ALL ABOUT THE BENJAMINS BABY, SHOW ME THE MONEY :)
Title: Re: Have you made it yet?
Post by: seandyer2003 on November 10, 2008, 09:05:38 pm
its good to set achievable goals, if you never reached them - how long would you strive for, usually i try have a main goal, and little stepping stone ones there, ie right now im trying to double turnover, how? 1000 leaflets a week, 200 letters, a few hours canvassing, and aiming to bring in £50 a week, eventually i will hit my main goal, but every week i also feel a sense of achievement in hitting the latter goals too,

I think time off is good though :) i am hoping to take a week off every 3 months and go away on 1- 2 of them abroad, and the other couple of weeks spend one with in laws in norwich ( a couple of days anyway) and the other with my family in ireland, so i will be getting away 4 weeks a yr, yippee, and i am working 4 days so im of 3 days a week, so dont need to stay here when im off work  a week :)
Title: Re: Have you made it yet?
Post by: Clive McDonald on November 10, 2008, 09:14:17 pm
At the minute i'm working on 'the perfect' set of books, laying out my expenses on three excell pages. This is my second year and I'm starting to get a feel for this as a business.

I copy a lot of the ideas on here, not so much with charlie (he's too big), but I certainly look at what steve cm, ian l,dave stives, and some of the other ambitious people are up too.

Most successful people are passionate about what they do, and many of us share this with people like Charlie. The contradiction is that if you admitted you were passionate about window cleaning you would be laughed at.That's one of the reasons this forum gives us common cause.
Title: Re: Have you made it yet?
Post by: seandyer2003 on November 10, 2008, 09:22:46 pm
My missus laughs at me for talking about it all the time lol, until i remind her how the food was paid for, and her new handbags lol, then she seems to almost be interested at least for a bit :)

But i agree, you have to find something to make you enthusiastic or else you wont get out there and find the work, and more important - DO IT, my trouble is the latter, i am great at finding ways out of work trouble is i dont earn then, so i am doing better now but have to keep on top, but i really enjoy marketing my business online, leaflets, door to door, etc, and i think its a great product - i have sold a few things in previous jobs but none are as easy a sell as window cleaning, nor do they bring as good a return ie if you sell a mobile you might get a one off commision, but we get a continous income for years, at a high rate of pay per hour equal to that of many professionals who have been uni for years!! Cant beat that, and that keeps me going :)
Title: Re: Have you made it yet?
Post by: Moderator David@stives on November 10, 2008, 09:24:55 pm
Be careful what you wish for, if you dont watch it you could end up sat in a office in your home all day answering calls, counting money and having 3 hour lunches.

I wouldnt wish that on anyone
Title: Re: Have you made it yet?
Post by: Steve CM on November 10, 2008, 09:25:54 pm
Be careful what you wish for, if you dont watch it you could end up sat in a office in your home all day answering calls, counting money and having 3 hour lunches.

I wouldnt wish that on anyone

you only get 3 hours for lunch? ;D :P
Title: Re: Have you made it yet?
Post by: j.v. price ltd on November 10, 2008, 09:27:31 pm
I must be doing something wrong i'm lucky if i get a lunch!!!!!!
Title: Re: Have you made it yet?
Post by: Steve CM on November 10, 2008, 09:28:45 pm
I must be doing something wrong i'm lucky if i get a lunch!!!!!!

whys that to busy counting your cash?  ;D
Title: Re: Have you made it yet?
Post by: j.v. price ltd on November 10, 2008, 09:31:08 pm
ha ha  ;D ;D ;D

Hows it all going in MK?
Title: Re: Have you made it yet?
Post by: Wayne Thomas on November 10, 2008, 09:33:02 pm
After 10 years I still haven't made it. Customers die, move or cancel. Prices need to keep up with inflation. Always need to find new customers to replace lost ones. Even with a full round, still need to replace poor prices with better ones so the answer is no not yet and probably never will until it's time to sell up or retire. :)
Title: Re: Have you made it yet?
Post by: Steve CM on November 10, 2008, 09:33:35 pm
all good! you? got a steady stream of com coming in and still pushing on the houses. can't complain ;)
Title: Re: Have you made it yet?
Post by: j.v. price ltd on November 10, 2008, 09:39:23 pm
all good! you? got a steady stream of com coming in and still pushing on the houses. can't complain ;)

Got any good guys i can have ha ha, just got the two shopping centres so will have some work for you when I have the contracts up and running
Title: Re: Have you made it yet?
Post by: Steve CM on November 10, 2008, 09:43:10 pm
just give us a bell if you ever wanna talk. i think i may need some advice/hire of a lift on a big glass canopy i have to clean once a year. something you could do on a day rate/hire?
Title: Re: Have you made it yet?
Post by: j.v. price ltd on November 10, 2008, 09:45:17 pm
Yer will do, no probs on the lift just let me know
Title: Re: Have you made it yet?
Post by: Clive McDonald on November 10, 2008, 09:52:46 pm
One thing though (trying not to think of all the glass at midsummer meadow) all of the really successful people -branson, bannantyne, maybe not dyson, but nearly all of the dragons den type over achievers usually have an exit strategy. They start a business, make a pile of dosh, and then flogg it for a kings ransom and then start something else.

The only exit strategy i've seen has on here is Ian's.That does seem to be the big unsolved riddle; how to get out of this game with a few bob in your pocket.
Title: Re: Have you made it yet?
Post by: Steve CM on November 10, 2008, 09:53:24 pm
if your ever up in mk soon give us a bell as i can show you the canopy. you can let me know the cost as i need to get a quote together for it
Title: Re: Have you made it yet?
Post by: Steve CM on November 10, 2008, 09:54:14 pm
The only exit strategy i've seen has on here is Ian's.That does seem to be the big unsolved riddle; how to get out of this game with a few bob in your pocket.

that will be the review in 10 years. to build or to move on
Title: Re: Have you made it yet?
Post by: Moderator David@stives on November 10, 2008, 09:57:38 pm
Discount

My plan is to use the profits from window cleaning to persue other more lucritive goals, one way of building up an asset is use some profit to purchase a business unit, if you buy something big enough , you could rent out space to someone else.

Then if you pay the mortgage over 10 years which your business has helped to pay for, you will have another income stream when you retire.

Dont always look for the obvious, you have to think "outside the box"
Title: Re: Have you made it yet?
Post by: j.v. price ltd on November 10, 2008, 09:59:19 pm
Discount

My plan is to use the profits from window cleaning to persue other more lucritive goals, one way of building up an asset is use some profit to purchase a business unit, if you buy something big enough , you could rent out space to someone else.

Then if you pay the mortgage over 10 years which your business has helped to pay for, you will have another income stream when you retire.

Dont always look for the obvious, you have to think "outside the box"

Sounds like a plan to me
Title: Re: Have you made it yet?
Post by: j.v. price ltd on November 10, 2008, 10:01:11 pm
My exit strategy is a managment buy out, or to sell to a large national cleaning/window cleaning company, then set up again and do it all over again..........
Title: Re: Have you made it yet?
Post by: Moderator David@stives on November 10, 2008, 10:07:29 pm
J.V

A business  like yours could attract a big national buyer who would pay big money, but what about most of the guys on here, where are there buyers going to come from.

Say Joe Bloggs builds up a £250k turnover business which produces a net profit of £100 k, which is a big sum and also not a big sum to others.

Question is ... if this business was a restaurant or a shop, i can see someone paying £100k - £200k for it, but who is going to pay that sum for a window cleaning business.

Who has £100k to buy such a business, reality is you wont get more than £40 k for it unless you split it up , then you will only get a bit more.

Title: Re: Have you made it yet?
Post by: Steve CM on November 10, 2008, 10:08:39 pm
Discount

My plan is to use the profits from window cleaning to persue other more lucritive goals, one way of building up an asset is use some profit to purchase a business unit, if you buy something big enough , you could rent out space to someone else.

Then if you pay the mortgage over 10 years which your business has helped to pay for, you will have another income stream when you retire.

Dont always look for the obvious, you have to think "outside the box"

similar to my own thoughts although i would like to buy a big property to live on and have a yard as the business rates in mk are huge. if i don't get away with that and have to pay the rates which hopefully i shouldn't  ;) i would still prefer to have all my business run on my doorstep as i found there is nothing worse than constantly running out to the office to get things and not having everything around me. then at the end of building my empire i can sell it all and play lots of golf right by my villa on the costa del sol ;D while my wife kelly brook sits at home waiting for me!! ;D ;D ;D
Title: Re: Have you made it yet?
Post by: Steve CM on November 10, 2008, 10:10:33 pm
J.V

A business  like yours could attract a big national buyer who would pay big money, but what about most of the guys on here, where are there buyers going to come from.

Say Joe Bloggs builds up a £250k turnover business which produces a net profit of £100 k, which is a big sum and also not a big sum to others.

Question is ... if this business was a restaurant or a shop, i can see someone paying £100k - £200k for it, but who is going to pay that sum for a window cleaning business.

Who has £100k to buy such a business, reality is you wont get more than £40 k for it unless you split it up , then you will only get a bit more.



then why sell it? get someone to run it, build it up more and keep taking the profits?
Title: Re: Have you made it yet?
Post by: Moderator David@stives on November 10, 2008, 10:12:36 pm
Steve

If you were buying it for the business the payments and running costs are tax deductables, so if you are 40 % tax payer,even better.

If you were doing as an home/ light industrial empire you would still need some of the tax relief to make it profitable or else it all comes out of your own pocket.
Title: Re: Have you made it yet?
Post by: Moderator David@stives on November 10, 2008, 10:14:26 pm
Steve

I think we will all get to a day where we just want to get rid and not have any worries from it anymore, maybe sell a big share and just be an invester.

After 10 years i am getting a bit weary, the thought of another 10 sounds quite daunting in any capacity
Title: Re: Have you made it yet?
Post by: Steve CM on November 10, 2008, 10:18:30 pm
i have shown my in experience in my thoughts on this subject ;) to be quite honest. i haven't looked into it yet as i'm way off being able to afford what i want but a industrial unit is within reach of purchase. i never really thought of the tax implications so maybe i was speaking out when i should of known more  :-X but the idea is still there. i would prefer to live where my business is. maybe theres ways round it, i've seen a guys setup round here to the spec i want to build, but i don't know all the ins and outs ...yet! ;)...anyone know?
Title: Re: Have you made it yet?
Post by: Steve CM on November 10, 2008, 10:19:53 pm
Steve

I think we will all get to a day where we just want to get rid and not have any worries from it anymore, maybe sell a big share and just be an invester.

After 10 years i am getting a bit weary, the thought of another 10 sounds quite daunting in any capacity

you need to start producing babys then  ;D pass it down the chain and take your profits ;) ;D

 i don't know the way out. i just know i can do this and build it big. who knows where it will lead? ;)
Title: Re: Have you made it yet?
Post by: j.v. price ltd on November 10, 2008, 10:21:33 pm
J.V

A business  like yours could attract a big national buyer who would pay big money, but what about most of the guys on here, where are there buyers going to come from.

Say Joe Bloggs builds up a £250k turnover business which produces a net profit of £100 k, which is a big sum and also not a big sum to others.

Question is ... if this business was a restaurant or a shop, i can see someone paying £100k - £200k for it, but who is going to pay that sum for a window cleaning business.

Who has £100k to buy such a business, reality is you wont get more than £40 k for it unless you split it up , then you will only get a bit more.



Companies like mine would be interested, it all comes down to buying a business that you can make savings in operating costs.

For instance if i bought a small commercial window cleaning company that was on a patch that i was not so strong or they kept under cutting or taking work that i could be winning,

Take the business and just medge it with mine, cost savings... loose all the overheads of the business and the boss thats taking all the profit, this has just upped the proffit of the purchased company and added turnover whilst reducing overheads across the contracts of my business.
Title: Re: Have you made it yet?
Post by: Moderator David@stives on November 10, 2008, 10:28:20 pm
Charlie

That is what I have done now a couple of times, bought up the local competition just to get rid of them.

The trouble i have is being in rural area ,I am one of  the biggest operations in Cornwall and i feel i will never have anyone to sell it to at a reasonable price.

I am not ready for selling yet, I have a long way to go, I am going out all guns blazing to double each year, I have now done it for the last 2 years running.
Title: Re: Have you made it yet?
Post by: Moderator David@stives on November 10, 2008, 10:29:53 pm
Steve cm

Dont forget the equity growth along the way as well
Title: Re: Have you made it yet?
Post by: Steve CM on November 10, 2008, 10:31:31 pm
on what? 1 house, 1 unit? and on 1 large house/yard?
Title: Re: Have you made it yet?
Post by: j.v. price ltd on November 10, 2008, 10:34:05 pm
Charlie

That is what I have done now a couple of times, bought up the local competition just to get rid of them.

The trouble i have is being in rural area ,I am one of  the biggest operations in Cornwall and i feel i will never have anyone to sell it to at a reasonable price.

I am not ready for selling yet, I have a long way to go, I am going out all guns blazing to double each year, I have now done it for the last 2 years running.

I would say you have three options build it big enough to have a market share in the area and one of the nationals will be interested, managment buy out, or sell it as a going concern to a cleaning company so they can make the 10% they add to your costs + your proffit margin

The last option is happening all the time at the moment
Title: Re: Have you made it yet?
Post by: j.v. price ltd on November 10, 2008, 10:35:01 pm
I’ve been going on about cost on another thread, there’s a few here who don’t think they have any at all.

If I was you J.V. Price Ltd I would snap them up, you could bring your retirement forward as soon as.

 ;D

Please explain more, it must be getting time for some shut eye!!!!!!!!!!!
Title: Re: Have you made it yet?
Post by: Clive McDonald on November 10, 2008, 10:36:48 pm
That makes sense, as does the managment buyout where your guys lend heavily to get rid of you because they know the true value of the business.

What has always scared me though is if someone like Anglian( you know the utility that does water, conservatories, kitchens, new rooflines etc), if they bought you and a couple of others out and used their branding and marketing to clobber and hammer this business with tv ads and mass leaflet drops and mail shots.

They would be trusted enough for most people to opt for direct debit on a huge scale, and they could avoid a lot of negative perceptions about window cleaners. Their vans would be everywhere, they would be cheaper than us, and they would make a packet.

Don't ever sell to them charlie, even if they offer the most ridiculously obsene amount of money. Tell them you've got to much pride and walk away. ;D
Title: Re: Have you made it yet?
Post by: j.v. price ltd on November 10, 2008, 10:42:22 pm
That makes sense, as does the managment buyout where your guys lend heavily to get rid of you because they know the true value of the business.

What has always scared me though is if someone like Anglian( you know the utility that does water, conservatories, kitchens, new rooflines etc), if they bought you and a couple of others out and used their branding and marketing to clobber and hammer this business with tv ads and mass leaflet drops and mail shots.

They would be trusted enough for most people to opt for direct debit on a huge scale, and they could avoid a lot of negative perceptions about window cleaners. Their vans would be everywhere, they would be cheaper than us, and they would make a packet.

Don't ever sell to them charlie, even if they offer the most ridiculously obsene amount of money. Tell them you've got to much pride and walk away. ;D

Not a chance they can't fit windows let alone clean them

Charlie