Start up business

[PeterThetree]

Hello, 

 

I have the opportunity to work abroad and have therefore for got a couple of options for my business. 
 

1. Hire a Manager to do what I do now.

2. Sell all my equipment, trucks, Firewood to somebody who wishes to start their own business. 
 

We are a tree surgery business in Norfolk and have built up an excellent reputation around East Anglia, with 100% positive feedback on chekatrade and my builder. 
 

if you might be interested and want more information, please get in touch.

 

Many Thanks 😊 

[Retired Climber]

How many full time employees do you have? 

[PeterThetree]

Everyone we have is self employed, we have a very good groundsman, and another climber. I’m not sure if the other climber will stay or go. We also have another groundsman, but he’s looking to go to uni to finish his law degree soon. There is another climber in need of work not far from here also. We have never struggled to find people that want to work.
 

Many Thanks

[Retired Climber]

Makes it a bit tricky everyone being self employed. Are they actually self employed, based on HMRC's definitions? If not, nobody is going to want to touch the business as a going concern. 

Have you spoken to your self employed guys about your plans? Is there no possibility that they might want to buy the business from you? That's how I got rid of mine; sold it to an employee. 

[Steve Bullman]

1 hour ago, PeterThetree said:

We have never struggled to find people that want to work.

You must be the only tree surgeon in the country who can say that 😂

 

good luck with the sale or finding a position, and also with your relocation 

[PeterThetree]

There seems to be a few people around here looking for work. We have had a couple tree surgeons actually call us for work. Thank you, we are looking forward to it, which ever route we take. 
 

😊

[PeterThetree]

In reply to ‘retired climber’. All the employees are officially self employees they do their own tax returns etc.  One of them want to buy the business, a couple of them are fairly young and not ready for the stress. Our climber, again says that he isn’t ready for the commitment. They can see that I work 7 days a week and they are all still enjoying life and their weekends. I’m not necessarily selling the employees. I’m selling the set up, we have a very good reputation and regular work. Plus all the equipment to get someone started. Then to do what they please with. 😊

[doobin]

The business is worth the secondhand total of the equipment, and that’s about I’m afraid.

[PeterThetree]

23 minutes ago, PeterThetree said:

In reply to ‘retired climber’. All the employees are officially self employees they do their own tax returns etc.  One of them want to buy the business, a couple of them are fairly young and not ready for the stress. Our climber, again says that he isn’t ready for the commitment. They can see that I work 7 days a week and they are all still enjoying life and their weekends. I’m not necessarily selling the employees. I’m selling the set up, we have a very good reputation and regular work. Plus all the equipment to get someone started. Then to do what they please with. 😊

I don’t think that it is only worth the second hand value of the equipment, we have contracts and work booked in, plus a very good reputation. Which will come, plus a contract that pays £15 a tonne for wood chip and a yard full of wood for log deliveries. I think it is a shame that more people are not positive on this forum. I was not asking for a valuation of my business, that will ultimately be discussed with whom ever is interested. 

[Lowestoft Firewood]

How much of the business is about you, and how much have you systematised so that it can run without you?

 

Do you have the confidence to get the employee who wants to buy the business to become the manager and you look at splitting the profits?

 

The good will in a business is often hard to measure, but things like a good spread of customers, rather than 1 or 2 contracts bringing in majority of revenue, and multiple streams, like firewood and woodchip sales all help to drive the value up.

 

If the business relies on you as a person to be there to make money then its not worth much at all.