TommyP

BRAND NEW to the game.... bit of advice with VAT.

33 posts in this topic

23 minutes ago, Mark101 said:

So, you have 2 valeters.

My daughter gave birth to my second (her first child) grandchild at 3pm today :D and my other daughter is due her second child, my third grandchild in August this year.

 

Congratulations !!

I always wanted children, it never happened. Then... I met a new lady and BANG I had two boys when I was 45 .... There's 11 months between them to the day...... they are 4 & 5 now... My priority is being with and enjoying them growing up, that's why I now operate the way I do... having children, putting them and the wife first is my priority.

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1 hour ago, Mark101 said:

The unit next door is 4 times the size of mine - I am considering filling that with stock (hold 25 without having to move any cars to get one car out).  It is about £3,000 a month + £1,000 where I am now.

Not sure whether to stay as I am, move into the bigger one or keep both and use one as a prep, workshop and take a spanner on or keep things light

The landlord is happy for me to open a workshop despite them not liking motor trade, he says I keep the place spotless and I am unlike any other trader he has met/dealt with (and since banned motor trade) or of course, he could just be blowing smoke up my arse.

The other option is, we sell all properties and cash in to one big pad and revert to trading from home but one like TV talks about (about £600-700k) with land, easily achievable where I live (before all the S Easters pipe up about property prices and how that wouldn't buy a 1 bed flat :lol:).

I am committed to making this work, balls in etc - the past 2 months (I know it isn't really long enough to form a true picture) has made me realise how scaleable the business is.

 

That's a huge opportunity Mark...... But, don't let history repeat, ... what an opportunity though... your call mate. Full of enthusiasm because of a flying month could be killed by 3 months of nothing.... If you can soak up a year or two if it does work no probs.... depending on your gut....

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Posted (edited)

‘Scale-ability’ is a strange thing. Just because something works in one place or at a certain smaller size, doesn’t in my experience always equate to working at bigger scales. I find that you can end up with more stickers /dead stock and the quiet months hurt a lot more obviously. 

Mind you: nothing ventured, nothing gained Rodney.. 

Congrats on grand-sprogs mate! You don’t look old enough! 

Edited by NOACROSS

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12 minutes ago, NOACROSS said:

Congrats on grand-sprogs mate! You don’t look old enough! 

I’m not (I’m younger that you :P) I lived my life in a mirror (as in reversed) image to Simon - divorced with 2 kids by 24 - kids then lived with me.

21 minutes ago, Arfur Dealy said:

That's a huge opportunity Mark...... But, don't let history repeat

Exactly what goes through my mind every single day and the reason I haven’t already.

Someone once said to me, if you’re unsure do nothing and I might just do that. Trouble is I am a risk taker, always have been.

Thanks for the advice chaps.

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20 hours ago, Mark101 said:

The unit next door is 4 times the size of mine - I am considering filling that with stock (hold 25 without having to move any cars to get one car out).  It is about £3,000 a month + £1,000 where I am now.

Not sure whether to stay as I am, move into the bigger one or keep both and use one as a prep, workshop and take a spanner on or keep things light

The landlord is happy for me to open a workshop despite them not liking motor trade, he says I keep the place spotless and I am unlike any other trader he has met/dealt with (and since banned motor trade) or of course, he could just be blowing smoke up my arse.

The other option is, we sell all properties and cash in to one big pad and revert to trading from home but one like TV talks about (about £600-700k) with land, easily achievable where I live (before all the S Easters pipe up about property prices and how that wouldn't buy a 1 bed flat :lol:).

I am committed to making this work, balls in etc - the past 2 months (I know it isn't really long enough to form a true picture) has made me realise how scaleable the business is.

 

I wouldnt sell property to then build the car sales. I would hold the property assets tight as long as they cashflow well long term this will pay you more. If anything i would be trying to grow the car sales organically and keep investing in property as an end game.

Each to their own though of course.

 

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28 minutes ago, Max Branning said:

I wouldnt sell property to then build the car sales. I would hold the property assets tight as long as they cashflow well long term this will pay you more. If anything i would be trying to grow the car sales organically and keep investing in property as an end game.

Each to their own though of course.

 

Very wise advise.... The properties are your pension income

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Id love to find vans with no VAT. A no VAT van means VAT margin for me which is a fair difference in my favour to what the VAT man takes.

 

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On 26/04/2019 at 9:07 PM, Mark101 said:

I’m not (I’m younger that you :P) I lived my life in a mirror (as in reversed) image to Simon - divorced with 2 kids by 24 - kids then lived with me.

Exactly what goes through my mind every single day and the reason I haven’t already.

Someone once said to me, if you’re unsure do nothing and I might just do that. Trouble is I am a risk taker, always have been.

Thanks for the advice chaps.

I am a big beleiver that we learn a lot more from our failures than our successes and I don't think you would let history repeat for a second.  Just go gradually. 

Mark101 likes this

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