We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

Advice on selling sole trader business

2»

Comments

  • Mistral001
    Mistral001 Posts: 5,397 Forumite
    Part of the Furniture 1,000 Posts Name Dropper I've been Money Tipped!
    soolin wrote: »
    I'm not sure that 27K is a reasonable turnover and there is no indication given as to costs and profit?

    No indication of costs?

    The original poster said that there were £4000 on parts.
  • Mistral001
    Mistral001 Posts: 5,397 Forumite
    Part of the Furniture 1,000 Posts Name Dropper I've been Money Tipped!
    edited 6 January 2019 at 3:32PM
    OP I would not minimise your husband's achievements. Such a business is very difficult to make money from as repairing goods is a declining market. However, I think it can be a growing business in the future as reuse is gathering momentum.

    £27k less costs of £4k for parts and other overheads for a part time business is reasonable in my opinion.

    I wish him all the best in his retirement if he does decide to quit, but I would not like him to think, that he has not had a successful business.
  • Pennywise
    Pennywise Posts: 13,468 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Mistral001 wrote: »
    £27k less costs of £4k for parts and other overheads for a part time business is reasonable in my opinion.

    Depends on the overheads. The van purchase and running costs can easily amount to a few thousand per year, plus advertising, plus tools, plus insurance, etc.
  • soolin
    soolin Posts: 73,384 Ambassador
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Mistral001 wrote: »
    No indication of costs?

    The original poster said that there were £4000 on parts.

    Running a vehicle, workshop costs or even home office costs, insurance etc- there are more to costs than just parts.
    I’m a Forum Ambassador and I support the Forum Team on the eBay, Auctions, Car Boot & Jumble Sales, Boost Your Income, Praise, Vents & Warnings, Overseas Holidays & Travel Planning , UK Holidays, Days Out & Entertainments boards. If you need any help on these boards, do let me know.. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.All views are my own and not the official line of MoneySavingExpert.
  • Mistral001
    Mistral001 Posts: 5,397 Forumite
    Part of the Furniture 1,000 Posts Name Dropper I've been Money Tipped!
    soolin wrote: »
    Running a vehicle, workshop costs or even home office costs, insurance etc- there are more to costs than just parts.

    All supposition. What is not supposition is that clearly the OP mentioned some costs and you got it wrong when you said that there was no indication of costs. Next time when you quote me and basically say I have got it all wrong, get your facts right.
  • Pennywise
    Pennywise Posts: 13,468 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Mistral001 wrote: »
    All supposition. What is not supposition is that clearly the OP mentioned some costs and you got it wrong when you said that there was no indication of costs. Next time when you quote me and basically say I have got it all wrong, get your facts right.

    There was no indication of overheads. The parts are cost of sales, not overheads.
  • Mistral001
    Mistral001 Posts: 5,397 Forumite
    Part of the Furniture 1,000 Posts Name Dropper I've been Money Tipped!
    edited 6 January 2019 at 8:12PM
    Pennywise wrote: »
    There was no indication of overheads. The parts are cost of sales, not overheads.

    Yes you are quite correct. There was no indication of overheads. But there was an indication of costs, namely parts. That was my point.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 348.2K Banking & Borrowing
  • 252.1K Reduce Debt & Boost Income
  • 452.3K Spending & Discounts
  • 240.7K Work, Benefits & Business
  • 617K Mortgages, Homes & Bills
  • 175.6K Life & Family
  • 253.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture