[j.v. price ltd]

Yer will do, no probs on the lift just let me know

[Clive McDonald]

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.

[Steve CM]

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

[Steve CM]

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

[Moderator David@stives]

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"

[j.v. price ltd]

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

[j.v. price ltd]

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..........

[Moderator David@stives]

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.

[Steve CM]

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 while my wife kelly brook sits at home waiting for me!!

[Steve CM]

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?

[Moderator David@stives]

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.

[Moderator David@stives]

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

[Steve CM]

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   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?

[Steve CM]

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  pass it down the chain and take your profits

 i don't know the way out. i just know i can do this and build it big. who knows where it will lead?

[j.v. price ltd]

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.

[Moderator David@stives]

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.

[Moderator David@stives]

Steve cm

Dont forget the equity growth along the way as well

[Steve CM]

on what? 1 house, 1 unit? and on 1 large house/yard?

[j.v. price ltd]

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

[j.v. price ltd]

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.

 

Please explain more, it must be getting time for some shut eye!!!!!!!!!!!