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Holydiver View Drop Down
Vanorak
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Baxters Chocolate Star Boy

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    Posted: 13 Apr 12 at 13:53

I’ve now worked for the same company to 20 years and I’m the only original person left since the company was started, for most of these 20 years it’s been a good company to work for and the people were great, a couple of years ago we were taken over and since then it’s changed and it’s no longer the same company to work for.

 

I feel the only reason I’m still here is: a) The cost of making me redundant. b) the knowledge I hold c) I work hard and give a 100% everyday and never off sick.

 

I believe that I have enough knowledge and experience to go it alone but lack the finances to do so because I can’t afford to just leave and start a new company plus I would need to employ a couple of people from day one.

 

So my question is has anyone been in this situation and how did you go about raising funds? And do you have any tips?

Wedgewerks@btinternet.com
www.wedgewerks.co.uk
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gok wan

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Points: 201623 		Post Options Post Options   Thanks (0) Thanks(0)   Quote DOGSBREATH Quote  Post ReplyReply Direct Link To This Post Posted: 13 Apr 12 at 19:12
We would need to know what your new business is going to be. Generally I would say go for it. If you don't give it a go, then you will never know if it would work.
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I have not long started up on my own full time. I managed to get some work subbing out to another company before I went full time, which helps with a constant income. I am not earning loads but I am having a really good time doing what I am.
Jrp automotive welding, servicing and repair.
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Holydiver View Drop Down
Vanorak
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Points: 1506 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Holydiver Quote  Post ReplyReply Direct Link To This Post Posted: 14 Apr 12 at 11:47

The issue I have is it wouldn't be starting on my own as from day one I'd be starting a company and manufacting units, when we started the one I work for now the directors started with £750K which was a big help and why we became a market leader very quickly.

As adviced on 80-90 it's all about having a good business plan
 
 

Wedgewerks@btinternet.com
www.wedgewerks.co.uk
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vw venom View Drop Down
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i was having the same problem with no funding or help 
start small on the side and build yourself up that will put you in a position to quit the day job 

do see if you can get goverment help to start up ,i couldnt but others have
never give up ,if you go to bed at night still thinking about it ,its what you should be doing

im still in the early stages and havent got the new website on line yet, but im still busy 
any help as your local pm me 
T3/t4 Elevating roof specialists ...based in wiltshire 01985851232
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jim painter View Drop Down
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Originally posted by vw venom vw venom wrote:

i was having the same problem with no funding or help 
start small on the side and build yourself up that will put you in a position to quit the day job 

do see if you can get goverment help to start up ,i couldnt but others have
never give up ,if you go to bed at night still thinking about it ,its what you should be doing

im still in the early stages and havent got the new website on line yet, but im still busy 
any help as your local pm me 
 
Pretty much the same story as me. Started part time and built it up from there. I'm not making loads (less infact than when I was working for someone else) however we knew it wouldnt be easy to start and the work is really starting to come in now so I could possibly up my pay a bit. Big smile
Jrp automotive welding, servicing and repair.
Cheshire
07854516387
Face book page. http://www.facebook.com/profile.php?id=100002268471342
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vw venom View Drop Down
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and you cant beat doing something that you enjoy doing
T3/t4 Elevating roof specialists ...based in wiltshire 01985851232
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Points: 649 		Post Options Post Options   Thanks (0) Thanks(0)   Quote jim painter Quote  Post ReplyReply Direct Link To This Post Posted: 14 Apr 12 at 20:08
Originally posted by vw venom vw venom wrote:

and you cant beat doing something that you enjoy doing
I couldnt agree more. Doing something you enjoy and seeing your business grow is so satisfying. As of monday my unit I have will double in size.
Jrp automotive welding, servicing and repair.
Cheshire
07854516387
Face book page. http://www.facebook.com/profile.php?id=100002268471342
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Baxters Chocolate Star Boy

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Thanks
Not sure I can start part time as I'd be indirect competition with my present employer, if I do it I need to a fresh, It's sad to see a business I worked hard to help build up slow go down hill.
 
Now if I had the money already I would go down a different road and set-up a T3 garage / workshop here in the southwest.  

Wedgewerks@btinternet.com
www.wedgewerks.co.uk
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vw venom View Drop Down
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Points: 1044 		Post Options Post Options   Thanks (0) Thanks(0)   Quote vw venom Quote  Post ReplyReply Direct Link To This Post Posted: 16 Apr 12 at 09:35
yeah a garage down this end of the country would be ideal,(not a lot of competition
but as for your daily job ...theres nothing wrong with doing some on the sneaky   


Edited by vw venom - 16 Apr 12 at 09:35
T3/t4 Elevating roof specialists ...based in wiltshire 01985851232
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Interesting reading this, I'm leaving the MOD at the end of May after 23 years loyal service and once I have taken some time out building my new house I'll be looking to start something up on my own, fortunately I have almost 2 years pay as part of my voluntary redundancy package so I have some money to kick something off.
 
I'm not sure what yet and I have a few ideas however as a fully qualified mechanic turned professional engineer now a project manager who has always maintained his skills his own cars and restored a few including my own T3 Westy I am considering car resto as an option, the classic car market is very bouyant and something I would love to do, either that or as mentioned above having spoken to many people at shows there is  gap in the market for a T3 specialist in the SW, and living in Frome near Bath and Bristol I am in quite a good geographical position to provide a service for the SW.
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vw venom View Drop Down
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Points: 1044 		Post Options Post Options   Thanks (0) Thanks(0)   Quote vw venom Quote  Post ReplyReply Direct Link To This Post Posted: 16 Apr 12 at 12:47
if you decide to take the leep
 please pm me as im only at warminster and would love to help you all i can
T3/t4 Elevating roof specialists ...based in wiltshire 01985851232
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Be careful of taking advice from the likes of business link and the banks, many of them have never actually done it and to be honest I found them pretty clueless - good at giving leaflets about stuff you can find online anyways.  

It depends on how you approach it.  Getting a load of investment is very very hard at the minute, if you need a load of cash to start you need to get a very good business plan, learn how to pitch it and approach investors.  Banks will want to secure against everything you own and I'd do anything I could to avoid borrowing off them.

The businesses I've started I've worked on in my own time - this one I'm doing now has been 6 months of very hard work with no income at all (have put in £1000's of my own cash just to cover expenses) but its starting to show promise now - you can pretty much assume 2 years of very little income before it starts, not something everyone can do.

It needs epic amounts of hours, there is no switching off from it, but when it all starts working from your own hard efforts the rewards are ace!
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Baxters Chocolate Star Boy

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Points: 1506 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Holydiver Quote  Post ReplyReply Direct Link To This Post Posted: 16 Apr 12 at 14:01
I sometime wonder if there's a gap in the market for a garage locally that deals with T3, someone like Brickwerks but based in the south?
Already got the name sorted Wedgewerks WinkWink

Wedgewerks@btinternet.com
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vw venom View Drop Down
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[QUOTE=monsho]Be careful of taking advice from the likes of business link and the banks, many of them have never actually done it and to be honest I found them pretty clueless - good at giving leaflets about stuff you can find online anyways.  

It depends on how you approach it.  Getting a load of investment is very very hard at the minute, if you need a load of cash to start you need to get a very good business plan, learn how to pitch it and approach investors.  Banks will want to secure against everything you own and I'd do anything I could to avoid borrowing off them.

The businesses I've started I've worked on in my own time - this one I'm doing now has been 6 months of very hard work with no income at all (have put in £1000's of my own cash just to cover expenses) but its starting to show promise now - you can pretty much assume 2 years of very little income before it starts, not something everyone can do.

It needs epic amounts of hours, there is no switching off from it, but when it all starts working from your own hard efforts the rewards are ace!
[/QUOTe
very wise words
T3/t4 Elevating roof specialists ...based in wiltshire 01985851232
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Originally posted by vw venom vw venom wrote:

if you decide to take the leep
 please pm me as im only at warminster and would love to help you all i can
 
I'll be taking a leap into something (I have to as can not afford to sit and let my lump sum burn down doing FA), it will most likely be automotive and possibly niche (like I say I have a few ideas) if it ends up being something brickshaped I'll be in touch.
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Points: 1044 		Post Options Post Options   Thanks (0) Thanks(0)   Quote vw venom Quote  Post ReplyReply Direct Link To This Post Posted: 16 Apr 12 at 22:45
that would be great i get vans in for poptops but when asked for a decent mech theres no one local and the vw van main dealer in westbury dont seem to train there mechanics in older vehicles ,(i was told when i took my old carat in they cant help because they cant plug it in to the computer)
this idea would be a bloody good one, for the van community who wont have to travel up north for a decent service 
T3/t4 Elevating roof specialists ...based in wiltshire 01985851232
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