Sticky work situation - what would you do?

Small update, we have 3 pallets of stock from MG arriving on Wednesday / Thursday - got to try and find somewhere to put it.
We now rent 3 small storage spaces in warehouses local to us - one is a supplier of my old business I'm still good friends with, and the other two current suppliers we're friendly with. Just corner stack of boxes in each. Bit of beer money their way... :)

The bits and pieces that are landing will hopefully turn a market of 'oh, that's not available anymore' or 'blimey, that's expensive' to 'here you are sir, and here's your change'. That's the aim, anyway!
 
Going to throw some bad in there, for anyone considering the same - today has been absolutely hellish.

All of our suppliers closed over the holidays - tried to stock up as much as I could, however with limited space I had to be quite picky. Turns out that it was mad busy over the holiday period, to the point where we had nearly 200 orders outstanding.

135 picked and packed today, the rest are back-orders for custom items we only order on requested. 18 hours from when I started, I'm getting ready to drop the last few parcels off at the local depot, and then will head to bed.

Being self employed is great, but remember you get some absolutely crazy days chucked in too.
 
Just a quick update, hit a milestone today.

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Just over 4 years in, estimated there's another few years left yet - I haven't quite taken as much as I'd like for myself, but hopefully that'll be good when it comes to the next few years - selling all the goodies I've accumulated. :)
 
To be honest, I've invested most of it back in - that helps with the tax side of things too, meaning over the next few years I can slowly release the money I have tied up in the stock I've stored.
Profit on the whole is very good - there's a lot of work, testing and whatnot involved (mainly 12-14 hour weekdays at the moment) but it pays off well enough.
Just about to buy my first home in cash, so that's something to take with me when it's all done.

The plan going forward is to crack on for another 1-2 years, including keeping buying parts to stockpile - and then to start working our way through it all, slowly removing products as they sell out.
I've put this down as another 3-4 years realistically, so in theory I'm half-way there now.

I always knew this was a limited-time deal, and I'm fine with that - I feel absolutely worn out, and can't wait to have a sabbatical after I'm done.
I won't be doing anything similar for Mazda bits - I've been incredibly lucky with this, and don't fancy my chances again!
 
Thanks chaps.
After this I'm done, I appreciate I could probably do something similar - but it's an absolute nightmare.
Not being able to take decent length holidays, always having work on your mind - I've done over 4 years, in another 4 I'll be insane. :D

I'm planning to use the money left at the end purely for investments - spread over a few different areas to make sure I always have something coming in.
It won't be a champagne lifestyle, but means I'll be able to live in relative comfort while having a bit of time to do things I enjoy.
 
Just another update, completed on the house on Friday with the proceeds from the business.
If you're debating going self employed in something you KNOW you can do, I'd recommend it.

It's been very difficult, but I'm glad I did it. I have a Cornetto and a beer while working right now, so it can't be all bad!
 
Hello all,
Just popped on this thread by chance - of course if any of you have any questions / would like advice from my own experiences, you're more than welcome to message me in trust :)
 
ci_newman said:
Give us an update then :p Have you wound the business up yet, or moved into supplying something else?
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Far from it - we now import a lot of the spare parts for the cars, have started our own successful line of parts (focusing on quality) and hopefully at the end of July there'll be a rather large deal on the cards that will certainly change how the business operates.

Can't say too much, but I'll come back in August when it's all settled (with any luck) and spill the details.
 
Okay, so I feel it's at a stage where I can disclose.
I'm in the process of selling the business to another enthusiast - a chap who's keen on taking it to the 'next level' and has plans in place to double the already eye-watering turnover in the next 3 years.

5 weeks until it all goes through - I'm going to be heading to Southampton for a 2 week handover period, then jetting off with the family just 5 days later to Florida (I offered a 'sweetener' on the price if we completed the sale before the holiday).
If anyone in Southampton fancies a beer, I'll be in Hythe and Lyndhurst for the first 2 weeks of August and free most evenings.

Going forward I'll be investing the sale proceeds in a couple of cheaper rental properties (I'm up North, so it's all fairly cheap) and also doing a 'big decorate' of my own house as it desperately needs it.
I won't go into exact figures, but it's enough to keep me ticking along for a few years and should help support a slightly more laid-back lifestyle. Not sure it's 'retire immediately' money though!
I'll also still be working part time for the business, producing their promotional material and pushing within the enthusiast fields (forums, Facebook etc) as that's my forte :)
 
Just a final update, all has been handed over now and the reins are firmly in his hands.
I'm staying on for the foreseeable to advise and help with customer contact, but for the most part I'm going to be stepping back from the day to day stuff.

It's bittersweet, the business will go from strength to strength I'm sure - but it's always hard letting go.
Off to Florida on Wednesday, so hopefully 2 weeks of screaming kids and nightmare humidity will take my mind off it!

Thanks again for all the help and advice OcUK gave in my hour of need.
 
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