Exit Plans?

[courtg9000]

Jumping in here firstly sorry to hear about your health issues!
Out of interest what sort of businesses did your magazine list? I've always got my eye peeled on an exit but never really took it anywhere normally because getting another contract is easier. But I'm aware I've got a fair bit of capital mainly in a number of mortgage free BTL's which I always think can be earning me more elsewhere. Everytime I check the big websites all I ever see being sold is cafes, pubs hotels and franchises which all look more like buying a job than taking over a business. I'd really like to find something I can invest some big money in and with some effort get a fair rate of return on the investment.

We had all sorts. The last ever issue is here, please help yourself: https://courtg9000.wordpress.com/wp-...1123182554.pdf
(Admin: Please advise if not acceptable and I will remove the link and accept the b*ll*cking)
Please note that the content is no longer active and is 6 years old. Links to my old courtguinness.com site will definitely not work!

Yes, Franchising can be a bit like buying a job. It does depend on the franchise, some are better than others.
Master franchising can be interesting, but the start up costs can be mega. Pubs, hotels and cafes can be money spinners, the right offer in the right location is key.
Googling for specialist brokers is better than going for the very large brokers.
Take your time looking for something, build up relationships with brokers.

I'll repeat these lines from by reply to willendure
Take time. Do not rush on buying a business. Ever. If you feel like you are being put under too much pressure to finalise a deal, walk away, there will be others.

The actual things especially in our age bracket is that you can cope with the change, you can be engaged with the business and make it work and also be happy. That might be artisan cheese making for one person, it could be car leasing or running bin lorries for other people. Only you know the sort of thing that will make you tick. You may also need to think about your family. Apologies for "prying" but it is important. Feel free not to answer this bit but do consider any family in this.

To be fair everything else in that post probably applies to you and your situation/outlook too.
I know quite a bit about this subject so happy to add more and try and help, just ask.

[willendure]

What about a garden centre? I like being around plants and a business with a mix of indoor/outdoor appeals to me. I also notice that these places always have plenty older customers that seem fairly well off (who else has a garden and time to work in it) as well as charging eye raising prices.

Finding the right location would seem essential for success.

[courtg9000]

What about a garden centre? I like being around plants and a business with a mix of indoor/outdoor appeals to me. I also notice that these places always have plenty older customers that seem fairly well off (who else has a garden and time to work in it) as well as charging eye raising prices.

Finding the right location would seem essential for success.

If it appeals then look into it and try and find one. Mystery shop other garden centres, see what works and does not. The customer mix is always good. You find one that dosen't have a good food offer, put one in if you can, extra profit, the much older market, love stopping for food and drink at these places and don't mind paying a reasonable price for it. Depending on locality make it a semi premium/premium offer. Location is paramount with any Business to Consumer business where the customer visits you.

[willendure]

Another option that I have always wanted to explore is to create some kind of software product - so move from contracting and writing software for other people, to having my own product. I think doing that as a one man band is doomed to failure. Contract one before the current one, I spent 3 years working for a start up that was developing an innovative product from scratch. From the headcount alone I estimate they must have put > £3 million into it and that is with £0 in sales during those 3 years.

Any thoughts on going down this route? Try and find a local or national level entrepeneurs group and see if I can find a few others that I could combine my more technical skillset with business, marketing and fundraising skills. Doesn't seem quite the right time to be launching a startup right now, maybe 2 or 3 years down the line conditions might be better.

[willendure]

We had all sorts. The last ever issue is here, please help yourself: https://courtg9000.wordpress.com/wp-...1123182554.pdf

Thats a fascinating publication you have there, shame you are not still doing it, but I guess the health issues muist have forced to give up? Feels a bit cheeky to ask because maybe you might be upset about it, but has someone else taken this area over with a similar set of listings?

[courtg9000]

Another option that I have always wanted to explore is to create some kind of software product - so move from contracting and writing software for other people, to having my own product. I think doing that as a one man band is doomed to failure. Contract one before the current one, I spent 3 years working for a start up that was developing an innovative product from scratch. From the headcount alone I estimate they must have put > £3 million into it and that is with £0 in sales during those 3 years.

Any thoughts on going down this route? Try and find a local or national level entrepeneurs group and see if I can find a few others that I could combine my more technical skillset with business, marketing and fundraising skills. Doesn't seem quite the right time to be launching a startup right now, maybe 2 or 3 years down the line conditions might be better.

Get out of the IT stuff!!!!! Oh and stay there!
The problem you will have with the software is selling it. Thats the hard bit
For you the easy bit will be writing the software. Everything else will push that out of kilter.
Look at everything that is being said here about the sector and its issues. I think trying to find a safe harbour in the sector just isnt feasible any more.

[courtg9000]

Thats a fascinating publication you have there, shame you are not still doing it, but I guess the health issues muist have forced to give up? Feels a bit cheeky to ask because maybe you might be upset about it, but has someone else taken this area over with a similar set of listings?

Yep, health got so bad I was publishing late (worst thing you can ever do in publishing) and other things were slipping. It was a fantastic thing to do and much more fun than other work I have done.
In other news there is a replacement in the pipes. Someone will be starting work on it very soon.

[Smartie]

I'd be very careful about moving into leisure - pubs, restaurants etc. at the moment.
Many of them are having a very difficult time of it with fewer customers and higher costs for staff and produce.
Brewery owned pubs are even worse - they'll take your money, force you to buy their high cost products then boot you out when you can't turn a profit and start again.

[courtg9000]

I'd be very careful about moving into leisure - pubs, restaurants etc. at the moment.
Many of them are having a very difficult time of it with fewer customers and higher costs for staff and produce.
Brewery owned pubs are even worse - they'll take your money, force you to buy their high cost products then boot you out when you can't turn a profit and start again.

Depends on the terms of the agreement with pubs for your last comment. There are different ones available. The retail agreement/franchise agreements are probably the worst of the lot. Various agreement types are available and PubCo's are often not tied to breweries any more and have been less so since the 1989 Beer orders.
Your previous two comments have some merit. but a well run market appropriate site in a good location should be profitable.

[fatJock]

52 in November - only been contracting 8 years. All outside until this one which is 18 months in and likely to extend till end October and possibly beyond.

When I ended perm took pension (contribution based - no benefits of leaving there) and put in a SIPP which I've been putting a couple of grand a month into since I've been contracting. Plan is to retire at least partially in five years or so and I'll hopefully be able to keep finding work until then.

Divorce in 30s set me back so still got £180K on mortgage but paying that down faster as well as paying into pension. 4 bed house is too big for me as originally planned as BTL so plan would be to downsize and relocate which will reduce costs. Having had a year out through choice a couple of years back I know what I would need to live on so am factoring that in with some inflation and am on track.

Basically don't want to be working into 60's [full time anyway] and being single and kids all grown have fairly predictable costs.