Contractor Side Businesses

[Mr Eadman]

Hi All,

It's my first post here so it's good to meet you all.

I was curious about the number of contractors that also have side businesses run by management alongside their day job. In my contractor circles this seems to be a growing trend and can offer greater returns than the more popular buy to let property side line.

In 2012 I purchased a coffee shop, re shaped things and put in a manager and this has proved very successful for me so far. I'd love to hear stories of similar success stories, what other businesses are contractors investing in? Is there a forum topic for buying and selling businesses amongst contractors?

Thanks

[cojak]

Hi Mr Eadman,

Have you been a contractor in a past life?

[Mr Eadman]

Hey,

I am still a contractor, just have a coffee shop sideline. It would be good to chat to other contractors with side businesses, although I think the majority invest in property instead of businesses.

[northernladuk]

Selling franchises in coffee shops are we?

I can't believe for one minute a coffee shop with a manager returns much at all. Hit him with ban hammer Cojie

[Mr Eadman]

Selling franchises in coffee shops are we?

I can't believe for one minute a coffee shop with a manager returns much at all. Hit him with ban hammer Cojie

Not selling franchises or anything like that, just wanted to meet like minded people. Looks like I've met someone quite uneducated in the topic that feels the need to attack and comment on anything he feels like. Quite a broad brush statement that no coffee shop with manager makes any money, without knowing location, turnover, margins etc.

[vwdan]

I can't believe for one minute a coffee shop with a manager returns much at all. Hit him with ban hammer Cojie

Really?

[Scruff]

I am interested in investing in a mobile coffee wagon. High end coffee and competitive prices. The crap that you buy in High Street so called coffee shops for £2.50 is astonishing in its mediocrity.

[Mr Eadman]

I am interested in investing in a mobile coffee wagon. High end coffee and competitive prices. The crap that you buy in High Street so called coffee shops for £2.50 is astonishing in its mediocrity.

Mobile coffee shops could be a money spinner if you can get a unique location with plenty of footfall, there are franchises available for these or you could fit out a van yourself. I'm not sure if the franchise would tie you to their brand of coffee.

Hire someone to operate it for you then get another one!

[cojak]

Isn't there a regular on here with a coffee shop sideline?

Platypus maybe?

[Scruff]

I don't want to get involved with a franchise. I ran the financial side of a franchisor in South Africa and know how franchisees pay for the caviar eaten by the franchisor! I would go the DIY route and buy someone else's failed wagon. It's the "machine and bean" that I would select.