Start up business

[PeterThetree]

41 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. 😊

yes, I agree. It depends wether the person interested was to continue to trade under our name. Our business name is what sells us. We have very good 100 % feedback on chekatrade and my builder. And some contracts. For somebody fairly local, it would be worth a fair bit. 
 

we are also looking down the route of employing a manager, to pay a a salary (to be discussed) and potentially split some profits etc instead of selling. 
 

we have everything somebody starting up would need. 😊

[doobin]

Goodwill is worth a lot less than people think it is, especially as that goodwill is almost certainly towards you, the face of the business who is no longer there! 
 

Anything a startup would need can be bought individually secondhand. The only way that would be attractive would be as a bulk buy- ie, a discount. 
 

Let’s talk figures. How do you value it? 

[Mick Dempsey]

1 hour ago, PeterThetree said:

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. 

Not sure it’s lack of positivity, more a healthy amount of pragmatism coupled with experience.

 

If you can get someone to part with real money for your name, well done.

 

Good luck.

 

 

[josharb87]

5 hours ago, PeterThetree said:

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 😊 

How much would you earn with a manager in charge per month/year
 

How long would it take to earn, under the manager’s management of the company, what your kit is worth 2nd hand? 

do you plan on returning to the uk? 

 

unfortunately IMO the goodwill gesture on top of the kits value is canceled out by the self employed staff. 
If they want, they can leave without notice, their replacements perhaps not as effective or knowledgeable of your pricing/work methods could lead the work booked in as a loss maker.

plus the little issue that they should really be on the books could be a very expensive journey for the new owner… 

[PeterThetree]

2 hours 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. 😊

Hello, I’m not worried about making a massive profit. I’m also not selling the employees with the business. That would be entirely up to the new owner. I just don’t want everything I have worked for and built up to go to waste. 
 

I just thought giving someone the opportunity to buy everything they need and build plus some guaranteed work would help someone start out.  
 

Many Thanks

[Retired Climber]

It's not that anyone is being negative, just realistic. If you don't have any staff on the books, you don't have a business; you have a group of people who work together to make a living. If you are in charge (tell them what to do, and when to do it), they are not legitimately self employed and sooner or later that is going to bit you on the arse. Just because you all agree they are all self employed, doesn't mean they are. 

 

Anyway, I agree with much of the above. Your equipment and any stock is obviously worth money, but your name and reputation are only possibly of worth to the self employed guys you currently work with. Anyone else would see the going concern as more of a liability than an asset. 

[Chris212]

What is the name of the company and what location are you at???

[doobin]

And... what's to stop the self employed guys from poaching your clients?

[Steve Bullman]

31 minutes ago, doobin said:

And... what's to stop the self employed guys from poaching your clients?

That wouldn't be the first time that happened. I know of a couple of instances where companies were taken over. The guys had no allegiance to the new owners and after setting up themselves approached some of the clients that they had built up a rapport with over time. I expect that happens across all industries though.

[PeterThetree]

9 hours 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. 😊

The tree surgeon we have lives in London and stays at our house and goes back at weekends, the groundsman is not a qualified tree surgeon and is 23 years old. The other groundsman is doing a law degree and is my brother in law