Start up business

[Will C]

So most/half of the crew is unqualified? And half of what is left is only part time?

 

Apart from the kit and stock the only other thing that holds any value is any fixed contracts that pay £x for x period of time. By selling these you are in effect subbing the contract out and this can bite you down the road of the work is not up to standard/on time etc. Check your contract carefully first and seek advice from a legal pro if your not sure.
 

unfortunately your reputation is just, that it’s yours not mine, not Dave’s from the pub and ultimately not who ever buys your name.

 

A limited company that can operate with you or a different director at the helm has a value but putting a value on that can be hard, I have been told some work on 10% of turnover (plus assets) to value a company that could carry on with any owner but don’t quote me on that figure.

 

I didn’t mean to come across harsh but reality can be just that unfortunately.

 

Edit: the climber coming from London will have no digs when you go so is next to useless to a new owner -sorry.

Edited July 1, 2021 by Will C

[PeterThetree]

Well I do think that is harsh, the tree surgeon is full time and travels back to London Saturday and Sunday and is back at 7.30am Monday morning. He is also fully NPTC qualified and insured. The groundsman had also got all his qualifications to use the saws and the chippers. Plus he is also fully insured. So I don’t know what part of my last post, you thought I said they were un-qualified. And again I was not asking anybody to place a value on my business. You don’t know anywhere near enough to even start doing so. 

[PeterThetree]

I will add also that I was not intending on ‘ selling’ the people i employ! That is totally not my decision to make! 

[gand]

2 hours ago, PeterThetree said:

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 

I think you said unqualified here, guessing you meant not to climb? 

[doobin]

2 hours ago, PeterThetree said:

is also fully NPTC qualified and insured. The groundsman had also got all his qualifications to use the saws and the chippers. Plus he is also fully insured.

Ah, so you mean they have their own insurance? 

[Moose McAlpine]

10 hours ago, PeterThetree said:

I’m also not selling the employees with the business.

 

But then there's no business. There's all the required equipment, and some potential contacts to start a business, but with no staff to do the work there's no business.

 

You're trying to sell a going concern but with no contracted and employed staff, only equipment.

 

2 hours ago, PeterThetree said:

And again I was not asking anybody to place a value on my business. You don’t know anywhere near enough to even start doing so. 

 

Well it's quite understandable that they'd do so. Bear in mind that there are many seasoned professionals on here, who've run their businesses for years and as such know the internal workings very well.

 

You're trying to sell something with quite hazy details and not given a price so of course everyone will try to estimate its value. Really it seems you just don't like what you're hearing.

 

It may seem harsh but everyone's being up front and honest in their opinions and input.

 

What is the reason you have them all self employed and not PAYE?

Edited July 2, 2021 by Moose McAlpine

[Will C]

8 hours ago, PeterThetree said:

Well I do think that is harsh, the tree surgeon is full time and travels back to London Saturday and Sunday and is back at 7.30am Monday morning. He is also fully NPTC qualified and insured. The groundsman had also got all his qualifications to use the saws and the chippers. Plus he is also fully insured. So I don’t know what part of my last post, you thought I said they were un-qualified. And again I was not asking anybody to place a value on my business. You don’t know anywhere near enough to even start doing so. 

Full time but self employed with there own insurance?  When the sticky brown stuff hits the spin you thing on the ceiling your going to get well covered in it!

[MattyF]

Your business IMO is worth 10% of any work you have booked up ,half the value of your predicted log pile and the second hand value of your equipment..that's what I sold mine for 7 years ago ..

My father got around 10k 20 years ago but then he had staff on paye , council, housing association and numerous other contracts as well as a good company name.. completely different from our set ups of self employed groundies and a just good reputation to go by.

 

[Mike Hill]

Sell up and move on.

 

If you made enough to hire a manager,I suppose you would have one already?

 

Unless you gave said manager absolute control over the entire business in effect expecting him to run it as if it was his own.Had enough profit quarterly to cover twice the managers salary I would forget it.

 

I have seen what can happen to a business after just a couple of weeks absence by the boss. Let alone months or years.

 

Ships have one captain for a very good reason,he is also expected to go down with his ship. The chief petty officer is not.

[Paddy1000111]

It doesn't sound like it has a lot of inherent value. If you had a yard, a lot of equipment, lads on PAYE and an existing foreman you would have a business with value. A business with value worth selling should be able to run day to day without you. It sounds like you are the business which means if you go, it's some kit and a couple of lads who want work. 

 

What you really have is some kit and a few jobs lined up. You may find someone to buy it off you for equipment value and a bit of good will money but selling it like you would sell a shop/business is unlikely. If it were me, I would stop booking in work, warn your lads and see what they say.

 

If you were going to take on a manager/foreman you have to ask if it's worth it to him, and you. He would need to be on PAYE and he will need proper staff not contractors. If you get a decent foreman who can actually run the whole business by himself there's no reason why he wouldn't just work for himself, especially as you aren't around. Why do all the work of owning a company for you to skim off the top?

 

The fact that your climber would need digs means it probably won't be worth it for him anymore too.