Is this year my last year in business? (1 Viewer)

[jezport]

During the show season when its all rush and push I keep saying this is my last year, but when its all over and Im just trading online I look at the photos and think "Wasnt it fun!"
I am really considering selling up though this year due to health issues and the fact that I am holding the business back. Ive got product ideas in my mind that I just dont have the time or energy to take forward. So if you fancy running your own business around motorhoming and taking my business forward please give me a PM.

 

[nicholsong]

During the show season when its all rush and push I keep saying this is my last year, but when its all over and Im just trading online I look at the photos and think "Wasnt it fun!"
I am really considering selling up though this year due to health issues and the fact that I am holding the business back. Ive got product ideas in my mind that I just dont have the time or energy to take forward. So if you fancy running your own business around motorhoming and taking my business forward please give me a PM.
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I have never quite worked out the range of things you do sell and even what the company name is.

You simply pop-up and say we can supply that for xxx.

When you do decide to stop make sure you check with your accountant as to the best date to do it and take advantage of 'closing years' tax benefits.

Good luck with whatever you decide.

 

[TUCANO]

Just do it mate, as I have said previously you cant buy life, no matter how much you have/earn.
Time to have some FUN

 

[John n Jinny]

Just do it mate, as I have said previously you cant buy life, no matter how much you have/earn.
Time to have some FUN

Ditto ,sold my 2 companies over 2 years ago now .You cannot buy years for enjoyment .Sell it, dont just close its less tax more for you .Hope everything goes well .

 

[CaptainPaul]

I've retired on and off now since I was 40 (now 59) but get bored then go back to work again then retire again, trouble is I enjoy work too much so now I spend half the year in the motorhome 3 months away then home for a couple of months then a few months away again and so on So spend just under half the year at home working and just holiday when I feel like it, I think I've found the happy medium but good luck with whatever you decide to do

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[jezport]

I have never quite worked out the range of things you do sell and even what the company name is.

You simply pop-up and say we can supply that for xxx.

When you do decide to stop make sure you check with your accountant as to the best date to do it and take advantage of 'closing years' tax benefits.

Good luck with whatever you decide.

I have regular lines but buy in some bargain clearance lines also. Ive got some great contacts that dont let other people share some of their lines. Generally I do motorhome accessories though.

 

[Lenny HB]

Good luck Jez, hope you find a buyer.

 

[bigwood]

I was pushed out of full time work in my mid fifties and did little jobs until my work and army pension started. At sixty being told I was too old to do parts delivery driving I took the leap and as our daughter said I stopped working.
It was strange but I felt like I had given up but also glad to be away from the agro and stress of work.

 

[nicholsong]

I've retired on and off now since I was 40 (now 59) but get bored then go back to work again then retire again, trouble is I enjoy work too much so now I spend half the year in the motorhome 3 months away then home for a couple of months then a few months away again and so on So spend just under half the year at home working and just holiday when I feel like it, I think I've found the happy medium but good luck with whatever you decide to do

Bit like me then - I retired at 45 (1987), bought a boat and sailed off to Greece, but first return to flying was a year later after the stock market crashed.

I then dipped in and out of various jobs till 2011, but holidaying on the boat and then in the MH between working.

Why not?

 

[Wanders from Glos]

I've retired on and off now since I was 40 (now 59) but get bored then go back to work again then retire again, trouble is I enjoy work too much so now I spend half the year in the motorhome 3 months away then home for a couple of months then a few months away again and so on So spend just under half the year at home working and just holiday when I feel like it, I think I've found the happy medium but good luck with whatever you decide to do

Me too, exactly the same.

Just have a couple of jobs I can do when I like, although one of them is a bank paramedic. But then I really enjoy that. I have found being fully retired almost stressful as I look for things to do. that said my wife tells me the days of full retirement are coming soon.

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[GMLS]

During the show season when its all rush and push I keep saying this is my last year, but when its all over and Im just trading online I look at the photos and think "Wasnt it fun!"
I am really considering selling up though this year due to health issues and the fact that I am holding the business back. Ive got product ideas in my mind that I just dont have the time or energy to take forward. So if you fancy running your own business around motorhoming and taking my business forward please give me a PM.
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Thanks for flagging this up. You must have passed your marketing exam with flying colours. I'm, tempted but might find myself too close to the wind

Good luck.

 

[Tony50]

Thanks for flagging this up. You must have passed your marketing exam with flying colours. I'm, tempted but might find myself too close to the wind

Good luck.

My wife and I are retired when I was 59 , I put the key in the Garage reception door, looked the other way as I locked the door, we got in the car, didn't even look in rear view mirror, and since never ever regretted a day about retirement, now 77 , blo-dy lovely .

 

[The Wino]

Ditto ,sold my 2 companies over 2 years ago now .You cannot buy years for enjoyment .Sell it, dont just close its less tax more for you .Hope everything goes well .

If you sell the buisness make sure you use entrpeneurs relief to make sure you don't pay too much tax.

 

[jezport]

If you sell the buisness make sure you use entrpeneurs relief to make sure you don't pay too much tax.

Thank you, please tell me more. BTW I have sold the business and am going through the process of transferring to the new owner. The new owner is a funster and all will be revealed in good time.

 

[Feltwell]

Well, now seems like a good time....the new owner is me!

Jeremy's wish to sell on his business came at an opportune time, I'm not ready to retire yet but I wanted to do something very different to being on the corporate treadmill - something that will be more rewarding, with a better work/life balance and more flexibility. I can chose what I want do with this and avoid an "all or nothing" retirement option in the future if I wish, by running the business at different levels.

Jeremy has done a great job of building up his business - my early priority is taking over what he's already done, so for those with any favourite products - the polishes seem popular with Funsters for example - rest assured they will be carrying on, exactly the same as they are now. I'll be looking to bring new lines in, but I'm not looking to turn a small business into a large one - I want to do something that I enjoy, dealing in quality products and offering great service, as Jeremy has done.

We've got a gradual handover as Jeremy will be clearing his existing stock through. Early days yet but current plan is that we will be together on a stand at Peterborough, so I hope to meet some of you then!

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[CaptainPaul]

Fantastic! well done and I wish you every success

 

[Sheddy]

Hope it all goes well.
Cheers Ed.

 

[The Wino]

Thank you, please tell me more. BTW I have sold the business and am going through the process of transferring to the new owner. The new owner is a funster and all will be revealed in good time.

You probably need a proper accountant but basically when you retire and dispose of a business you pay a flat 10%on the proceeds

 

[DerryW]

Feltwell, good luck with your new venture. If I can pass on one peice of advice that was given to me by a very very successful businessman when I started out on my own a few years ago.

"you only need two books, one for paying in and one for paying out, as long as you have more going in than going out you'll be fine"

 

[Feltwell]

"you only need two books, one for paying in and one for paying out, as long as you have more going in than going out you'll be fine"

Absolutely!

Slightly scary moving away from what I've done for the last 30 years, but - carry on with something that I was finding increasingly frustrating and unfulfilling, or try something new? Nothing ventured, nothing gained, and buying an existing small business does help mitigate a lot of the risks compared to undertaking a complete "cold start".

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[DerryW]

Another peice of advice, get yourself a good accontant. not necessarilly one that works from his/her kitchen table, but just as important not one that when you pull into their car park it's like you're visiting a BMW or Mercedes car show room.

 

[tonka]

"you only need two books, one for paying in and one for paying out, as long as you have more going in than going out you'll be fine"

I was told the 2 books where : one for me, the other for the taxman.

 

[wiljoy]

Think very carefully before you take the retirement jump. I always treated my job as a paid hobby as I loved it. In 2001 I was approached with a very good offer to sell and I did. After 6 weeks insanity began to set in so I went back to work and 22 years later I'm still enjoying my hobby.

Good luck with whatever you decide.

 

[The Wino]

Think very carefully before you take the retirement jump. I always treated my job as a paid hobby as I loved it. In 2001 I was approached with a very good offer to sell and I did. After 6 weeks insanity began to set in so I went back to work and 22 years later I'm still enjoying my hobby.

Good luck with whatever you decide.

I enjoyed my job too but in the end decided I didn't enjoy it enough to spend the time I have doing that rather than something else!

 

[Carpmart]

I don’t get this whole, you’ll miss work thing! I absolutely loved what I did for work, but I fallen more in love with doing what I’m doing post work!

IMHO Work for as long as you feel your circumstances dictate, then stop and start working at living a fulfilled life for you and the one’s you love. Work just sucks time, time is finite (I accept money is too) but start working at life as soon as you can.

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[Feltwell]

Thank you all for the good wishes!

Just finishing off a bit of building work at home to accommodate the stock - luckily my house has a suitable cellar which wasn't really being used - and then get it all up & rolling by Easter is the plan. Onwards & (hopefully!) Upwards!!

 

[Riverbankannie]

Thank you all for the good wishes!

Just finishing off a bit of building work at home to accommodate the stock - luckily my house has a suitable cellar which wasn't really being used - and then get it all up & rolling by Easter is the plan. Onwards & (hopefully!) Upwards!!

Wishing you the best of luck going forward.

 

[Fulham Dave]

Good luck Feltwell, hope the new venture is a roaring success for you!

Good luck in your retirement too Jezport! Enjoy your travels! I hope beer stays cool and the sun warm wherever you may be