decisions decisions

[richardable]

i recently passed my 60th..i’ve been working as an idependant since 1999.
recently i took on a trainee…great lad and a boon given my advancing years..in a few years, wife permitting i hope to retire. NOW..i am thinking should i grow a bigger business? should i stay as i am as i manage to keep the bank happy and the inland revenue or should i expand? if i expand what is the best way..buy or rent commercial property, advertise more, spend the banks money via a loan??
any experience out there…any advice?
all replies will be held in the strictest confidence..
ps donations will be most welome
richard

[timdowning]

Re: decisions decisions

I’m half your age and wouldn’t dream of expanding from a one man band set-up.

I would say stay as you are and retire gracefully!!!

😀

[electrofix]

Re: decisions decisions

i am fast coming to the conclusion this trade is doomed have struggled for years and dont know how much more i can take with cheaper macnines it means throw away dont repair and the manufacturers will replace u/g faults because it is cheaper so stay as you are if you get bigger you are into vat and all that happens is you make less profit as all the customer cares about is the cost

Dave (clapped out van and run down shop )

[Madmac]

Re: decisions decisions

Depends how you see demand for your services in your area in the future. I think the customer profile in general is going through big changes . Most work in the future will be from people who are aware of the utter waste of throwing major whites on a skip at 3 yrs. I intend to stay a one man operation so i can survive the lean times, most of the failed whites repair business around here have had high overheads. Its horses for courses though.

[clivejameson]

Re: decisions decisions

We take the opposite view…i think there is a good living to be made and will be for the foreseeable future too. Like most businesses these days the big key IMO is flexibility, being prepared to do what others don’t and doing it well.

We are a small company with no shop premises (just two partners and a bookeeper) but we are looking to take on an employee later this year. We score against many of the local opposition because we sell new machines as well as repair, something that simply can’t be done by a one-man band. As a trusted repairer we do contract work for some of the WP’s which itself is not overly profitable but the spin-offs are better, and of course when we are in a house declaring an appliance to be beyond economic repair we are in a prime position to sell a replacement.

As to the future?….well we see ourselves doing much of the same but in a bigger way, higher work volumes generated from WP’s and publicity in various forms, and maybe even a shop premises too although i suspect the latter will depend on the usual estate agents three criteria (location, location, location) 😆

Yes tough times, but isn’t any business like rolling a ball up a hill?

[Lawrence]

Re: decisions decisions

Approx 5 yrs ago I had 5 engineers and lots of headaches ,most of our work came from WP’S.
Now I am back on my own ,working from home ,advertising in our local paper ,I kept the best WP’s ,reduced my area drastically ,I think it was the best thing I ever did .
my cashwork is through the roof ,I also sell new products including ISE , I advertise that I specialise in integrated appliances as all the other eng’s in our town don’t want to know them.
But It is horses for courses as I firmly believe that each demographic area has it’s own make up that determines the amount of money around
Lawrence

[maltheviking]

Re: decisions decisions

richardable wrote:i recently passed my 60th..i’ve been working as an idependant since 1999.
recently i took on a trainee…great lad and a boon given my advancing years..in a few years, wife permitting i hope to retire. NOW..i am thinking should i grow a bigger business? should i stay as i am as i manage to keep the bank happy and the inland revenue or should i expand? if i expand what is the best way..buy or rent commercial property, advertise more, spend the banks money via a loan??
any experience out there…any advice?
all replies will be held in the strictest confidence..
ps donations will be most welome
richard

Happy birthday 😉 . I think by your comments you may well have made up your mind “should i stay as i am as i manage to keep the bank happy and the inland revenue” Obviousley the”lad” plays a big part in your business so you have to consider him, you should also ask yourself “do I need to work harder and have more stress?” You may be the type who strives on stress so it’s your own decision 😉 I personaly am a little younger than you and I am thinking of slowing down and giving myself a little more free time, we have a saying around here “yer a lang time deeeeeed” 😆 Good luck with your decision 🙂

[neptune]

Re: decisions decisions

to quote the words of the song “The Windmills of Your Mind”, ask yourself “Is the Jingle in your pocket worth the Jangle in your head?” I would work on at a steady pace as long as it suits you, and then sell/give the business to your apprentice. Why does Clivejameson say that a one man band cannot do repairs and sell new machines? I do, and I know of at least one other member who does. Neptune

[richardable]

Re: decisions decisions

thanks to all the above, i feel as a one man band, plus backing singer i’m doing ok…i repair machines but when i get to a BER i offer to supply a replacement. customers like this service..i promise to deliver, instal and test, in house run through of facilities and take the old one away ( machine i mean), not the partner. customers like this very much. too often i’ve heard, customers saying…can’t bear to go to cu..ys, co..et etc as they are full of glib gits who only want to sell the appliance which will get them points or bonus and then sell the extended warranty. if there are any other guys who don’t offer a replacement…try it. it does work! 😀
as of now i think i’ll stay put! 8)
richard

[iadom]

Re: decisions decisions

richardable wrote:if there are any other guys who don’t offer a replacement…try it. it does work! 😀
as of now i think i’ll stay put! 8

I shall say zis only vonce, “ISE”. 😉 you know it makes sense. 8)

Jim.

[clivejameson]

Re: decisions decisions

neptune wrote: Why does Clivejameson say that a one man band cannot do repairs and sell new machines? I do, and I know of at least one other member who does. Neptune

Yes you’re quite right it was a sweeping generalisation for which i apologise, there are some one-man bands who do sell machines quite successfully, but what happens when the customer is up five flights of stairs and no lift working? I used to be a one man band, and i used to sell machines too but would end up not offering machines to the customers with a nasty installation site…i’d end up wasting half a day and get backache to boot! 😕

From our point of view to keep it cost effective all deliveries are a two man job. This means that the machines are swapped out quickly, and any tricky built-in installations are usually done by one while the other clears off to do more repairs 😀

My hat is firmly off to the guys selling and installing on their own but for me…well, been there done that 😉

[Penguin45]

Re: decisions decisions

Always worth staying in touch with the neighbours – mine have a few teenagers alwaysready to earn a quick fiver. Last job, of course…..

Chris.

[maltheviking]

Re: decisions decisions

Penguin45 wrote:Always worth staying in touch with the neighbours – mine have a few teenagers alwaysready to earn a quick fiver. Last job, of course…..

Chris.Neighbours…………….sheep,sheep and more sheep 😆

[neptune]

Re: decisions decisions

I take Clivejamesons remarks about one man bands and sales. If its an upstairs flat, I either dont sell a machine, or get my son in law to help in the evening. Ground floor jobs are a doddle, see my article on Tail-lifts in “Off Topic”

[Author]

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