[Mike Halliday]

Ages ago B&Q were in the news because of all the OAPs they employ, there is a need by the retired to 'keep busy'  they don't want to sit in the house they wasn't to be involved and keep thier minds active.

I bet all those that want to retire at 55-60 still want to be actively involved in some activity.

To be honest my plan to work until I die is not totally my main choice, 50% of that decision is neccesity, I can live in basic/moderate comfort on the provisions I have in place or work very part time ( even just 1- 2 days a week) and enjoy a much better lifestyle.

Plus...... If you make your vocation your occupation you will never have to work a day in your life.....

At the moment I love what I do and really enjoy my work, I'm as enthusiastic about my work as the day I started hopefully this will not change

[William Sharpe]

Iv'e got 2 more years to 65 and rertirement,  my wife and i have spent our profits on property here and  abroad so will rely on rentals to boost our pensions both private and state so plan to live 8 months a year abroad. The business has been good to us lots of hard work as you all do but is enjoyable in the most part. Having a plan and sticking to it is crucial planning for your retirement is a must do. When you retire and hopefully fit and have interests factor those interests into your retirement plan.
I do have a plan for the business in 2 years time (i think) still working on it

[Teddycare]

Same as you Mike, I have enjoyed my carpet cleaning for well over 30 years obviously I have slowed down a little bit but not much.
Will reach the government's idea of retirement age this time next year, but would like to think I could go another 5 years full-time, and then Just the odd job here and there,From old customers plus recommendations, and possibly treble or even quadruple my pension each week, this is assuming no bits of me fall off by then ha ha.

[neil 47]

Ian are you still doing the leather?

Neil how many jobs do you do in a week? The reason I ask is that I didn't understand how many you were doing for the £1500 or so a week, the reason I ask is that if you change the way you do things or add on it's better to understand the question, Ian May be able to add his experience and help you add value to your business.

Shaun

I have found that due to my condition I can only manage about 2 Jobs in one day 3 would put me on my back for a week a while ago i did in one day a 4 bed barn conversion with lounge study kitchen and large h/s/l and the did a  3  bed house and a rug   then went swimming but even that made me tired is that Normal ?

[Ian Rochester]

It's good to see that many are still going strong into their 60's with no perception of the "When its all over"!

I still intend to be occupied later in life, I'd be bored poopless otherwise, but I don't want it to be a necessity in order to put food on the table.

[Shaun_Ashmore]

Neil I'm sorry you are struggling health wise is it not possible for your business partner to do more cleaning and you do all the paper work? The 2 jobs a day would have to be good payers to pay for 2 people to survive if I can help out give me a shout.

Shaun

[neil 47]

cheers Shaun

I will

Thanks

[Kinver_Clean]

I will be 72 next month.
I have let things run down for several years now and have a reasonable income from investments.
On Tuesday I let someone else have my phone with the 0800 no on it and letters of introduction to estate agents that I have worked for. This is for a financial consideration that both of us are happy with.

I will now play with my steam engine and make things on my woodturning lathe in the shed. In between that I will visit all the friends I meant to see over the years, touring with the caravan. Unfortunately all on my own nowadays. Hopefully I will not get too decrepit too soon.
I have just bought a bigger van for the engine and insured it with no problem at all. £310 fully comp for a 3 1/2 tonner.

[neil 47]

I will be 72 next month.
I have let things run down for several years now and have a reasonable income from investments.
On Tuesday I let someone else have my phone with the 0800 no on it and letters of introduction to estate agents that I have worked for. This is for a financial consideration that both of us are happy with.

I will now play with my steam engine and make things on my wood turning lathe in the shed. In between that I will visit all the friends I meant to see over the years, touring with the caravan. Unfortunately all on my own nowadays. Hopefully I will not get too decrepit too soon.
I have just bought a bigger van for the engine and insured it with no problem at all. £310 fully comp for a 3 1/2 tonner.

Best of luck mate you have worked hard , enjoy .

if your over Barnsley way pop in for a drink

[Hilton]

Every business should have an exit plan of sorts and they should not be working until your knackered out and are forced to retire, of course many want to work on but it does not have to be at the rock face,  that's for the younguns.but can mean in building and growing the business until such time the exit arrives.....
The question is how do you build value in the business to be able to exit..
Carpet cleaning on its own will not in 'most' cases do that

[Kinver_Clean]

This is the problem- most CC businesses are not worth much unless there are some good contracts. That's why I said to put as much away as possible and invest wisely while you can.

[Mike Halliday]

In the end we are not just selling equipment we are selling an almost  guaranteed  income,

Example: If I was selling my business I would ask £50k.

£25k   Paid up front   6 months before I leave the company, the balance as I leave.

During the 6months I would offer full training in our business,  the buyer would receive 25% of the profits during the 6 months (he would earn back half his initial investment during the training period) during the 6 months he can walk away but forfeits half the initial investment plus any wages he has been paid

As I walk away he pays the balance but is safe in the knowledge he has seen for real the earning potential of the business not some cooked up books.

[Carpet Dawg]

Good post Mike. I have thought about it before and thought pretty much the same strategy.  Just would ask for more.

Remember, your not selling to an established carpet cleaner. If the franchises can sell a territory £30k+ just for their name and a bit of training, surely you can get something for your already established business making money from the get go.

[Susan Dean (1stclean)]

I retied at 40 and was the best thing to do . bugger working until your bent over double , it was very easy a few years ago to make lots of money on houses . all the bank wanted to see was cash flow , while other cleaners were on here banging on how good they were trained and how much they were changing I was in the hit them cheap market and running 7 vans lots of cash in the bank everyday which I turn ment I could borrow what I liked

even got cleared for 1.4 million to buy a plot of land to build 11 houses once to where I am so glad I didn't gamble on that

in 2008 I sold ten houses and paid the other 11 off so I know have no morages , all rented out and guess what ive still not done any training corses nor will I clean a carpet again , at the end of the day I wasn't self employed to be the best nor charge the most I was in it for the cash , and profit    

[Teddycare]

Susan, if I was wearing a hat I would take it off to you, I remember when you came to Hydramaster And had That 2nd hand Truck mount fitted in your new van, and hearing what you were charging for carpet cleaning using your many portable machines, a few of us said you can charge a lot more with the truck mount, and you did slowly creep up your prices.
But what we didn't realise Is what a business woman you are and I think I should put in brackets (shrewd) And basically farsighted, I certainly wish that I and I'm sure a few others had followed your example, so basically Susan bloody good luck for the future, and the only depressing thing I can think of is that you said you would never clean another carpet, which is a great pity because I'm sure you are bloody good at it,
 

[Simon Gerrard]

Well said, Sir.

Simon