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mlscontractcleaner

  • Posts: 1483
Planning for the future.
« on: May 07, 2011, 04:18:48 pm »
As the title says really.

Who's planned for the future and how???

If you're a sole trader the moment you retire you stop earning and your business fails to exist, in your name anyway; so what are you going to arrange for a future income.

I can't imagine that state pension will be worth anything, if it even exists by then, so what are your plans???

I'm planning for our business to be our future income, with myself taking a back seat in a few years time and spending much more time with the family - somewhere hot preferably ;D, and that is why we continue to work so hard making sure that's the case. I'm 42 now and don't really want to be out " on the tools " by the time I reach 50 :-[, so what are you lot planning to do in your old age???
Come and talk dirty to us!!!

Wc Solutions

  • Posts: 1829
Re: Planning for the future.
« Reply #1 on: May 07, 2011, 04:20:24 pm »
sell the business and semi retire i suppose.

always fancied running a country pub with the other half in the kitchen  8)

mlscontractcleaner

  • Posts: 1483
Re: Planning for the future.
« Reply #2 on: May 07, 2011, 04:22:57 pm »
What, perminently in the kitchen???

Will she not be allowed upstairs at night???

That's a bit harsh mate, and I can't really see her going for it to be honest ;D
Come and talk dirty to us!!!

Wc Solutions

  • Posts: 1829
Re: Planning for the future.
« Reply #3 on: May 07, 2011, 04:25:08 pm »
What, perminently in the kitchen???

Will she not be allowed upstairs at night???

That's a bit harsh mate, and I can't really see her going for it to be honest ;D

ah it will be ok mate.

ill let her walk the dog twice a day and water the hanging baskets etc ...

getting married in june so still time for her to run for the hills i guess

NJWindowCleaning

  • Posts: 521
Re: Planning for the future.
« Reply #4 on: May 07, 2011, 04:58:36 pm »
As I have four son's I am planning that one of them or all of them to take over and do the round and for me to collect all takings and explain to them that you dont have friends in business  ;D ;D ;D

State Pension + personnel Pension + Collecting from Business meaning the easily life for me ;D ;D ;D

mlscontractcleaner

  • Posts: 1483
Re: Planning for the future.
« Reply #5 on: May 07, 2011, 05:02:23 pm »
We've already tried going down thr route of having sons working for us and it failed miserably :-\

They just don't take the job seriously; time keeping was the main culprit. Bang on time on pay day though ::)

In all fairness my wife told me it wouldn't work but I didn't want to believe her; having the kids working with me sounded great - Damm those women; why are they always right ;)
Come and talk dirty to us!!!

Helen

Re: Planning for the future.
« Reply #6 on: May 07, 2011, 06:49:56 pm »
We've already tried going down thr route of having sons working for us and it failed miserably :-\

They just don't take the job seriously; time keeping was the main culprit. Bang on time on pay day though ::)

In all fairness my wife told me it wouldn't work but I didn't want to believe her; having the kids working with me sounded great - Damm those women; why are they always right ;)

 ;D

Ian Lancaster

  • Posts: 2811
Re: Planning for the future.
« Reply #7 on: May 07, 2011, 10:45:36 pm »
As the title says really.

Who's planned for the future and how???

If you're a sole trader the moment you retire you stop earning and your business fails to exist, in your name anyway; so what are you going to arrange for a future income.

I can't imagine that state pension will be worth anything, if it even exists by then, so what are your plans???

I'm planning for our business to be our future income, with myself taking a back seat in a few years time and spending much more time with the family - somewhere hot preferably ;D, and that is why we continue to work so hard making sure that's the case. I'm 42 now and don't really want to be out " on the tools " by the time I reach 50 :-[, so what are you lot planning to do in your old age???

Already done it ;D ;D

Retired 17 months ago - just do quotes now and the missus keeps records.  I spend about 2-3 hours a week working and my wife does a couple of days, but then she is 8 years younger than me ;D

dave0123

  • Posts: 3553
Re: Planning for the future.
« Reply #8 on: May 07, 2011, 10:53:12 pm »
Quote
As the title says really.

Who's planned for the future and how???

If you're a sole trader the moment you retire you stop earning and your business fails to exist, in your name anyway; so what are you going to arrange for a future income.

I can't imagine that state pension will be worth anything, if it even exists by then, so what are your plans???

I'm planning for our business to be our future income, with myself taking a back seat in a few years time and spending much more time with the family - somewhere hot preferably , and that is why we continue to work so hard making sure that's the case. I'm 42 now and don't really want to be out " on the tools " by the time I reach 50 , so what are you lot planning to do in your old age???

So if your kid's working with you didnt work what are going to do whent taking a back seat? have a manager or partner or just workers or of course Ian Lancaster's route for franchise
Dave.

boshravie

Re: Planning for the future.
« Reply #9 on: May 07, 2011, 11:44:52 pm »
As the title says really.

Who's planned for the future and how???

If you're a sole trader the moment you retire you stop earning and your business fails to exist, in your name anyway; so what are you going to arrange for a future income.

I can't imagine that state pension will be worth anything, if it even exists by then, so what are your plans???

I'm planning for our business to be our future income, with myself taking a back seat in a few years time and spending much more time with the family - somewhere hot preferably ;D, and that is why we continue to work so hard making sure that's the case. I'm 42 now and don't really want to be out " on the tools " by the time I reach 50 :-[, so what are you lot planning to do in your old age???

Already done it ;D ;D

Retired 17 months ago - just do quotes now and the missus keeps records.  I spend about 2-3 hours a week working and my wife does a couple of days, but then she is 8 years younger than me ;D

Thats great sir  :)
Thats the way to go  ;)

groundhog

  • Posts: 1806
Re: Planning for the future.
« Reply #10 on: May 07, 2011, 11:54:26 pm »

Already done it ;D ;D

Retired 17 months ago - just do quotes now and the missus keeps records.  I spend about 2-3 hours a week working and my wife does a couple of days, but then she is 8 years younger than me ;D

Thats great news!! I take it the Ian Lancaster franchise is working well!? How many franchisee's do you now have? Perhaps this is the route to take??

Danny Guest

  • Posts: 545
Re: Planning for the future.
« Reply #11 on: May 08, 2011, 08:21:46 pm »
Im not planning on being in the window cleaning business for any longer than two years.

I have another business in property development and with the fantastic deals on the market and amazing borrowing rates im spoilt for choice.

Im not looking to retirement yet but i honestly cant see myself retiring. Im having a great time with my businesses and i have a real passion for property. I hope that when i get older i will have some kids to pass the business on to but i cant imagine ever taking my fingers off the pulse. I just love it!

Danny
Guest Cleaning Services

Ian Lancaster

  • Posts: 2811
Re: Planning for the future.
« Reply #12 on: May 08, 2011, 09:28:47 pm »

Already done it ;D ;D

Retired 17 months ago - just do quotes now and the missus keeps records.  I spend about 2-3 hours a week working and my wife does a couple of days, but then she is 8 years younger than me ;D

Thats great news!! I take it the Ian Lancaster franchise is working well!? How many franchisee's do you now have? Perhaps this is the route to take??

Very well, thanks.  Currently there are 6 "direct" franchisees, one of which is a Master Franchise for an adjoining area and he has 2 further franchisees and is interviewing for his third.

andy1975

  • Posts: 93
Re: Planning for the future.
« Reply #13 on: May 08, 2011, 10:03:00 pm »
hi, im 36 years later this year and planning to either retire or work part time and have a worker before im 40.i invested in another property and started breeding dogs.by the time im 40 the dog business would be really up and running with bulldogs and chihuahuas.then i will start doubleing my mortgages and try to finish them before 50.long term would love to buy property in florida and live,but this is difficult to do.my wife has £250,000 worth of property in moscow which we can rent for good money later as well.working has been tough but i can see the future will be bright.

bobby p

Re: Planning for the future.
« Reply #14 on: May 08, 2011, 10:11:55 pm »
use the people skills iv learnt along the way to  make this biz work long term with 2 or more workers with me contributing less effort on the squeegee . 

Gav Camm lammy 283

  • Posts: 7520
Re: Planning for the future.
« Reply #15 on: May 08, 2011, 11:27:20 pm »
We've already tried going down thr route of having sons working for us and it failed miserably :-\

They just don't take the job seriously; time keeping was the main culprit. Bang on time on pay day though ::)

In all fairness my wife told me it wouldn't work but I didn't want to believe her; having the kids working with me sounded great - Damm those women; why are they always right ;)

surprises me m8 most wc sons are all keen
seen as they see how much dollar dad makes  ;D ;D ;D
LET YOUR PANES BE MY PLEASURE

"If CALSBERG did WINDOW CLEANING
 it would be C.C.C  Probably the best WINDOW CLEANERS IN THE WORLD ..........."

mlscontractcleaner

  • Posts: 1483
Re: Planning for the future.
« Reply #16 on: May 09, 2011, 07:53:39 am »
Oh they were keen on the dollar alright; it was having to get out of bed to earn it that put them off ;D
Come and talk dirty to us!!!

AuRavelling79

  • Posts: 25404
Re: Planning for the future.
« Reply #17 on: May 09, 2011, 05:31:22 pm »
Well - I'm still on the tools at 50 plus!  ;D

But this year is my change to "part time" year - and by this time next year my plan is: (health and other good luck variables willing!)

To have a full time assistant on the tools 4 days a week with his own vehicle. Me on the tools 2 and a half days a week plus half a day managing and pruning and cultivating the round.

Another small income stream should be ticking over too.

In another life I have employed and I realise that if you aren't careful you start breathing life into a monster that has a life of its own and you spend lots of time building a higher turnover but not very profitable business.

If it works then I think that will suit me because if  I can drop back to 2 or 3 half days on the tools and another half day managing then that will suit me until I'm 60 or  health is a concern.

Then I'll review it.
It's a game of three halves!

groundhog

  • Posts: 1806
Re: Planning for the future.
« Reply #18 on: May 09, 2011, 08:00:03 pm »

Already done it ;D ;D

Retired 17 months ago - just do quotes now and the missus keeps records.  I spend about 2-3 hours a week working and my wife does a couple of days, but then she is 8 years younger than me ;D

Thats great news!! I take it the Ian Lancaster franchise is working well!? How many franchisee's do you now have? Perhaps this is the route to take??

Very well, thanks.  Currently there are 6 "direct" franchisees, one of which is a Master Franchise for an adjoining area and he has 2 further franchisees and is interviewing for his third.

Good to hear, where did you learn the ins and outs of franchising? Is it complicated? I just keep thinking.. whats to stop a franchisee deciding he no longer wants to pay you his monthly franchise fee, but would like to continue cleaning his customers windows!! How do you stop this from happening?  ???  Cheers Ian

mlscontractcleaner

  • Posts: 1483
Re: Planning for the future.
« Reply #19 on: May 11, 2011, 01:36:58 pm »
You sit outside his house and when he opens the door you shoot the buggar :o

Extreme but effective ;D
Come and talk dirty to us!!!