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Hello Marc,
I am aslo thinking along your lines, property investing has been brilliant at creating wealth but also now looking to use that equity to purchase more business's as the cashflow can be amazing and complete the jigsaw.
Unusual question for you, don't feel obliged to answer.
I had a friend show me a business plan last week about tyre recycling and ask for my opinion as he is thinking of investing. I have absolutely no idea about the industry. I am not considering it but would like to provide some feedack to him.
The plan basically involves charging tyre business's less than they currently pay to have the tyre's removed. Apparently for outer melb the normal charge is $2 per tyre but they believe due to their whiz bang system of "coiling the tyres" and carrying more per truck they can charge $1 per tyre and hence get quite a few contracts. They also believe that they can extract more from the tyres than others, fuel, gas, black carbon and some metal thing as well plus get big environmental grants.
As i said I know nothing of the industry however the business plan was not written very well and the expected wages for staff were way below reality so that put me off a little but some feedback on the concept would be very helpful.
Any words of advice I can pass on?
Cheers
BT
Marc, out of interest, is it the case that you don't know how to trim quotes (in which case I'm happy to give a lesson ), or that you can't be bothered?
It doesn't bother me excessively, but I do notice it, and your practise of quoting the entire post when most of it is irrelevant conflicts with my perception of you as an organised and competent person.
Trim quotes? I usually add 50% if the work is "urgent".
Marc, out of interest, is it the case that you don't know how to trim quotes (in which case I'm happy to give a lesson ), or that you can't be bothered?
Hey Marc,
Hows about an update on the buisness??...
As summer is quickly approaching, as well as Christmas, are you expecting a massive rush from customers, especially to get their cooling systems checked/serviced etc...
Bet its been a massive learning curve so far! Good luck, hope it all runs smoothly for you.
Boods
I just read the whole thread, awesome!!!
i'd like to know a little more about how and where you search for business.
the advertisements on realcommercial.com are quite brief, how do you go about requesting more information and what would you typically ask for?
Bayview well done on all fronts
I recently went for a trip to Adelaide and one night getting back to the hotel we noticed a mechanic shop open. Next day we went for a stoll to check the place out.
This mechanic opens at 4pm[i think] and operates into the night. bookings weeks in advance.
This made a lot of sense to us as no body wants to be without their car wether its mum, dad or a business vehicle.
How many small businesess struggle to get their vehicles serviced/tyers check/changed during business hours?
I would imagine you would pay a bit more for this night service.
Probly have to be a bit of security involved?
I thought it was a great example of value adding to a business.
Now if only l was a mechanic
cheers
G'day Tone,
we currently pay $1.38 for car tyre removal and $3.25 for 4WD tyre removal.
If you can get it to $1.00 and keep it near that for the forseeable future, then I'm yer first customer!
Our guys come around every fortnight to collect, and I pay them C.O.D by cheque.
Yes.So what happened to BayView? still in business i hope?
He was retiring after being in the business for 40 years or so...has since died of melanoma in his big toe, of all places.geez, i was reading the whole thread all night.
so do you think the previous owner knew this was going to happen so he offloaded it, did you atleast make back the money that was put in already? i take it's been about 3 years owning it?
Ted;969980 I sometimes wonder about a purchase of a business looking at one my self but i only look at business's that can pretty much run on auto even with less return and maximum of 10 hours per week to look after said:Thats the mistake most people make , Not saying Bayview made this mistake, I have spoken to him years ago and he knows his stuff!
Most inexperienced people think business' run them selves, in reality 99% of them dont. Im a hands on person and I ask myself, would the business survive if one day, the entire team decided that they had enough or you had a big fight, and walked out, which does happen, especially a small business.
Imagine you had a restuarant/cafe where the food reputation was good, and you couldnt cook if your life depended on it, and one day head and only chef walks out! you have to either do it yourself or replace him. There goes your business, a slow undignified death!