Can anyone help,
I've a round comprising of 201 customers. I've approximately 80 customers in one area and 121 forty invoicesy. Im retraining and I won't be able to work for several months. I'm unsure exactly how long, id say 5-9 months and im thinking of renting out my round. Its worth about £2350 and completed approximately every five and a half weeks.
I'd like to take the business back when I've retrained.
Is this possible rent out my business and not be ripped off. I can provide uniforms equipment and van. Id also want my invoices used so it remains my business.
Is this possible?
Any help appreciated.
Stu
Yes it is possible if you can trust the subbie. I've subbed work from people before supplying my own vehicle and water. I did it on a percentage basis. It only stopped because the contractor moved the goalposts. It wasn't his fault though - nor mine. A change in circumstances meant he had to start doing things differently which meant a bit less money for me. I felt that I couldn't drop any more. We ended the arrangement on good terms and stay in touch.
Which percentage to aim for is hard for me to say as my arrangement was different to yours. However, from experience, it's the hidden things that you don't anticipate that can trip you up. e.g. how long before payment made, what happens if customer cancels, who takes the hit on a bad debt, do you withhold some money until the very end, what happens if the subbie acquires new work while he's doing yours (e.g. whose is it?, what arranmgement for paying him for it if you want it?) All of these were potential obstacles at some point but they often aren't things you think of beforehand.