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Previously on "Never ever hire people Full Time!!!!"
Well MF, still impressed that you had the spuds to crack on with something like this and come out ahead over all the years, puts all the (surprisingly quiet) BTL flat buyers to shame.
Remember seeing a business start-up thing with a couple of IT bods opening a bar. It was dreadful and in the wrong place. 9 months of hell later and despite the best efforts of the host (who DID have a clue unlike the 2 lads) they had basically paid a thousand a week to work 60+ hours in a bar, it was terrifying but a wake-up call for anyone thinking a Plan B is easy. I clutched onto my ISA's (my low-input plan B) a bit tighter that night !
This was a new shop that opened in May 2008 for my missus who wanted to quit her job as she didnt like it.
So it worked well to start with, until the missus wanted another child, got pregnant and then pretty much fcked up the whole situation.
I pay £27K a year out in wages to other people and at the end of the year profit = £0 for a whole load of hassle. My other two from 2003 used to clear about £30K profit.
The cost of just closing the door and running the lease out will lose me £25000 or I can bite the bullet and run the bloody thing until May next year and then close which is going to lose me maybe £2-£3k.
Its annoying, because for someone like the missus it's a good opportunity for a job. It worked out with one child at £50 per day childcare, but now there is two and it's £100 per day = £25K per year!!!
Only regret I have is jacking my Perm Job in the end of last year as I couldn't balance everything. I should have closed and taken the hit as the shares options I had in perm company would now be >£50k
Why do you put up with so much aggro for £100 per day?
Let's face it - your real business failed utterly and you should just accept it and stick to your employment in disguise.
Better go harass poor permies with outsourcing questions - you know you love it
This was a new shop that opened in May 2008 for my missus who wanted to quit her job as she didnt like it.
So it worked well to start with, until the missus wanted another child, got pregnant and then pretty much fcked up the whole situation.
I pay £27K a year out in wages to other people and at the end of the year profit = £0 for a whole load of hassle. My other two from 2003 used to clear about £30K profit.
The cost of just closing the door and running the lease out will lose me £25000 or I can bite the bullet and run the bloody thing until May next year and then close which is going to lose me maybe £2-£3k.
Its annoying, because for someone like the missus it's a good opportunity for a job. It worked out with one child at £50 per day childcare, but now there is two and it's £100 per day = £25K per year!!!
Only regret I have is jacking my Perm Job in the end of last year as I couldn't balance everything. I should have closed and taken the hit as the shares options I had in perm company would now be >£50k
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