Plans B

[Gonzo]

errr I wouldn't want to run the pub myself, I'd hire a manger - same thing if I invest in any other business, I'd hire a manger who knows about the business for at least one year

OK but I think you would find the economics of running a country pub would mean that hiring a manager would not be viable. There is not that much money to be made out of them

[Diestl]

Anyone ever tried online trading or spread betting on shares/markets? Im sure you could make an extra 1k a month doing it.

[SandyDown]

Anyone ever tried online trading or spread betting on shares/markets? Im sure you could make an extra 1k a month doing it.

I think MF does a bit of online seeling using e-bay

aaaahhhhh shares, reminds me of the good old nineties when everyone was a millionaire till the shares collapsed

[Ardesco]

You do not want to run a pub Sandy - that is HARD work. Although on the plus side any money that you do make just accumulates in your bank account because you will not have the time to spend it.

Assuming you don't drink your profits.....

[SandyDown]

Been just looking at some businesses for sale on the net, it seems the best net profit goes to resturants inc fish&chips shops(town centres) - but heck that is really really hard work, and lots of hassle !!

[Gonzo]

Anyone ever tried online trading or spread betting on shares/markets? Im sure you could make an extra 1k a month doing it.

House prices rise £1000 every month - see this news item from the bbc http://news.bbc.co.uk/1/hi/business/6307239.stm

So, just buy a house - you can't lose

[MarillionFan]

"MF what do you think? I know you still have to contract to compliment the losses made from your shops?"

Sandy, you cheeky mare.

Business was in operation for 3.5 years. Posted a 30k loss on the first year (setup + stupid mistakes like having a partner), 40k profit year 2(extra pt shop in windsor), 25k profit year 3 and then had my rent up by 15k for year four which would stil have shown a 10k profit. (one shop)

Problem is to make 25k profit I had to effectively take out 4-6 months of my available contracting time. Doesnt make a genius to work out.

Everybody I have met who has these small business dont make anywhere near what you can do contracting.

Remember. We are at the top of IT Salaries. Anything else is poor by comparison.

[SandyDown]

"MF what do you think? I know you still have to contract to compliment the losses made from your shops?"

Sandy, you cheeky mare.

Business was in operation for 3.5 years. Posted a 30k loss on the first year (setup + stupid mistakes like having a partner), 40k profit year 2(extra pt shop in windsor), 25k profit year 3 and then had my rent up by 15k for year four which would stil have shown a 10k profit. (one shop)

Problem is to make 25k profit I had to effectively take out 4-6 months of my available contracting time. Doesnt make a genius to work out.

Everybody I have met who has these small business dont make anywhere near what you can do contracting.

Remember. We are at the top of IT Salaries. Anything else is poor by comparison.

MF - didn't mean to cheeky, just really wanted to know the story in retail, I agree looking at some businesses for sale - net profit is very very low compared with all the effort and capital required ..

thanks for the infor though

[Spartacus]

House prices rise £1000 every month - see this news item from the bbc http://news.bbc.co.uk/1/hi/business/6307239.stm

So, just buy a house - you can't lose

Remember, not price is too high to avoid missing the boat.

[shoes]

Surely the massive difference between IT contracting and other small businesses we might try is the scalability factor. If you are selling your time there is obviously a limit on how much you have of that to sell. If you own and run a shop for example that makes 25k a year that is something that can be built on. Couldn't you have offered a management role to someone making the demands on your time less so that you could start up another one? and then another one? Surely a collection of income producers that require little day to day effort to keep going is better than the 9 to 5 of a typical contract role? Both in terms of lifestyle and possible income.