talk bout heavy shit dumped on my shoulders!

[Hauntd ca3]

sitting down having my lunch today and my boss comes up and has a word in my ear.
my boss has terminal rust and prob has a year left just to bring you up to speed.
anyhoo, in short he offered me various some options.

option 1) i buy the business lock,stock and barrel for nigh on 400k, this involves half an acre of real estate in the middle of town which is prob worth 400k alone
option 2) i buy the business,stock and plant at 130K and lease the building
option 3) i go halves in the business with his son, who is a fucking awesome auto electrician and a bloke with whom i get on with well with.
option 4) his son buys the business and i stay on
option 5) neither of us buy it and he sells it on the open market.

what a fucken awesome way to spend an already busy day, wondering what the hell my future holds.

[Legend_master]

If the business is profitable, and your can get $400k I'd say buy him out!

[Vanilla Sky]

Absolutely. Get the funding together and buy him out completely.

[Hauntd ca3]

have talked to my father in law, who is a multi millionaire business man in the civil and structural engineering field and i pick up that he maybe wanting to bank roll me into this.
my problem is that my bosses son, who is also my supervisor is an awesome trades man and without whom i'd be fucked.
i wouldnt want to go into this without him as a shareholder in the business, which would at least guarentee that i wouldnt have to worry bout him leaving me in the lurch.
i know i'm a capable trades man , but he is better than i'll ever likely be in many areas of the field.
we work well together and are able to run ideas of each other and have similar ideas on how to build and run the business.
i'd never make it in politics , i have a horrible habit of being truthful

[Oldblueaccord]

Id look over the books for the last five years or have some one look at them for you.

[Delta Cam]

Keep the son on payroll, I'm an only son who could have gotten my fathers company alone, however, I opted to ask my cousin ( employee of 26 yrs ) to be a partner. Now I can leave knowing the company is running when Im away because its his company also. Been at it for 6 yrs now and have had minimal issues
Delta Cam is the name of the company

[Dr_Snooz]

What has the boss discussed with the son?

[Hauntd ca3]

i wont go into it without the bosses son, its his families business and is best to have someone there that has the name above the door.
my brother in law is an accountant and has offered to go over the books etc and will prob get a valuation done as i think its slightly over priced.
the boss has given the son the same speech he gave me, the bosses son and i have discussed this before, so we have an idea what each other is thinking.
the bro inlaw is going to talk to the boss over the weekend bout things, so i dare say i'll be hearing from him or the dad inlaw fairly soon.
you know, its strange that when you are given an opportunity like this, how you look at everything in a whole new way.
i've been walking around the shop going, this needs replaced or painted or gone.
been talking to suppliers in a whole new way.
is bloody exciting and fucking scary at the same time

[Dr_Snooz]

It sounds like a wonderful opportunity. I don't know the exact situation of course, but you should expect that your choices above are going to be limited by what the son decides to do. If he decides he wants the business for himself, then that will narrow down your options quite a bit. Blood is thicker than water, after all. Spend a lot of time feeling him out and learing what he has in mind. Don't assume anything until the contract is signed.

[Hauntd ca3]

i dont mind if i do end up working for him, we do work well together, and he and his dad must trust me to leave me in sole charge on a fairly regular basis.
if he can find the backing to do it by himself, good stuff, at least i know i'll still have a job.
but i dont think he could find anywhere near enough $$ to do it himself, hence why i've suggested a 50/50 deal.
that way, its easier for him to get in, neither of us needs a huge loan and i'd pretty much be guarenteed he'd be there for a fair while

[Hauntd ca3]

Well, what a great way to end the weekend!
friday arvo, got a phone call from the dad inlaw saying papers are signed and on the way to the realo agent.
wicked! i think, going to be a business owner!
start looking at new equipment and other bits and pieces
dad inlaw asks me to go into work and get some pics and measurements for new signage etc etc.
cool as, go in and do as he asks.
get a phone call from the boss a wee while ago, and he's doing his fecking nut at me, wondering why i'm at work on a sunday .
dont care if he's on morphine or not, its not what i need.
turns out his butt fuck brother ( who has power of attorney) hasnt told him a deal has been done and paper work is on the way.
tell him why, and he still keeps going off his nut.
if he does his nut at me tomorrow, swear to god he's getting both fucking barrels!
dont give a shit if he has rust or not, its not my problem his butt fuck bro and the real estate agent havnt talked to him.

[2oodoor]

Dammit gandi! Cluster muck, I hope things go well

[Hauntd ca3]

things have calmed down today. he finally got notification from the agent and sort of said sorry for yesterday.
take over 1st april , which is start of new financial year here.
time to spend crap loads on new gear

[Hauntd ca3]

didnt realise how much shit was involved in taking over a business!
i'll be doing another 40 hours a week on top of my normal work load just to have everything organised to open on time.

[A18A]

geez how many hours do you normally do

[AccordB20A]

is that why all business owners are wankers cause they work 800 hours a week haha

good luck with the venture.

[MessyHonda]

This is a good opportunity. I still want to go visit NZ.

[Hauntd ca3]

geez how many hours do you normally do

only do 40p/w
but since the bosses son quit mid january, i've been doing prob 2/3 of the work, plus taking customer quieries, booking work and all the ordering,debt control etc.
the newbi that started mid jan, even tho he's a trades man with 20 years experiance, is slow as a wet week and fucks things up , which i then have to fix to keep customers happy.
have soooooo much to organise, i'll be bald by the end.
at least i will have the $$ to get the Si going, without having to do it on the cheap.
$1100 dollar pistons, here i come! might get a different ecu as well

[Vanilla Sky]

Yo, what's the immigration process like there? Job market?

[Hauntd ca3]

job markets good for skilled tradies.
especially for building and related trades in christchurch doing the rebuild after the quakes a few years back.
not sure on the immigration though, but with the amount of indians, asians etc, coming here, cant be to strict.
nothing against indians etc, but they are bloody everywhere, and they still try to haggle on prices like they would at home.
that dont work here, and never will

[Hauntd ca3]

woo hoo! off to buy a nice work ute today!.
2 weeks to go!

[Hauntd ca3]

oh well, first day of being self employed.
spent more time organising computers,suppliers etc, and arguing with my old boss over stock prices than actually working.
hope it gets better soon, only a 12 hour opening day

[Dr_Snooz]

only a 12 hour opening day

Slacker. Small business owners are supposed to put 18 hr days at least.

[Legend_master]

Keep on pushing on!

[Hauntd ca3]

cheers guys, actually got home after only 11 hours today. only 43 hours for the week , with 2.5 days to go.
is a bit slow being the start of the financial year here, but have bout 2.5k turnover so far.
even tho the hours are long, i still feel great after a long day, the removal of the stress caused by my old boss has been so relaxing.
i,ve only charged 12 hours myself, and prob 20 odd for my worker out of an a chargable 48 hours, but i think i'm not doing to bad