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Life moves on (ish)!!
Sooooo, I’ve not been about much of late and I’ve been meaning to say something for a while!
I’ll keep it fairly brief, but those of you that know me well will know that still means a badly edited version of War & Peace!!
2023 was pretty catasrophic for me, business-wise.
2021 and 2022 were two bumper years, they saw turnover increase 40%, saw the workspace double.. creating two proper fitting bays and the workshop looking really sharp; subbies helping maybe 8-10 working days a month, more work than I could manage properly! After 16-17 yrs of hard slog it all seemed to have finally come together!! Almost 80% of our work was now vehicles… I guess a result of all the bounceback loans etc.
2023 started off well, leading up to my family holiday in June I did about 4 weeks work in the space of two – allowing for the fact we’d be closed for ten days, and merrily went on my hols… absolutely shattered! Upon returning, the first week or two was busy but I realised it was just mopping up the left-overs and pre-booked stuff. The phone wasn’t ringing, email enquiries were dry.. I even called BT to check averything was ok.. all fine..
The wife begins to panic, and me being me, say meh, there’s £30K+ in the various bank accounts, no worries, it’ll pick up.. By late september I was beginning to worry too, and there was even talk from the wife about me getting a ‘real job’.. a shiver ran down my spine! We’ll be good I said… there’s still £20k in the bank… £15 she says, we just paid the vat.. ok, that’s cool.. Mid october we get a flurry of enquiries and some prety good work booked in, but it didn’t make much of a dent and several big ticket jobs kept getting postponed… We’ll be good I say! Mid november I start ringing around the dealerships who I’d throw a a drink to for every client that came my way with a card, they were pooping themselves as they gone from selling 600 vans a month in the group in July, to just 80 in october,
I’m still thinking things will be ok, we had a £10k warehouse job coming up in Jan, and before that in december, an £8k wallcovering job in an IT Tech building over several floors.. but, the deposits still hadn’t landed and now, mid december, a few days before the xmas break, I called the client to chase the deposit, explaiing that if they wanted this done over the xmas period, I needed hat deposit today. The lady was really concerned as this was her baby, she’d signed off everything and had no idea why I’d got no deposit. An hour later she calls back and tells me that her queries to the top floor resulted in a call from the MD… a large corporate architechts in London had just gone bust, 60 days after taking delivery and installation of £130k worth of IT, and 30 days before the invoice was due to be paid. Not only had they lost the £130k but the £18k a month retainer fee for support etc… the wallcovering job was cancelled. F@#k. not good and only a couple of grand left on the £5k overdraft, where the hell does £30k go?
I hurriedly called the warehouse client to say the job could be moved forward, we just needed the deposit… no answer… two days later and several emails / calls I get the email to ay the job is indefinitely postponed due to a massive budget overspend by the building contractors… double F@#k F@#k F@#k…. £4800 in the red, nothing in the in book of any substance…
Called the accountant, What can we do, help!! Don’t panic Hugh, you can do X, Y and Z… Yeah.. John, you’re missing the part where I said we’re broke… literally.. OK Hugh, you can legit fold the company and it’s only £5k, her’es there number… err John… dead ass broke..? Ah well then Hugh, you’re f@#ked … thanks for that John!
This middle bit is a little murky so we’ll just skip over. essentially I sold all the equipment to someone for its expected 23/24 accounts value and sold the van’, the funds paid all the supplier accounts, the bookkeeper, the banks’ overdraft and basically cleared the decks, except for vat and about half of the bounceback we had taken out. I’d also paid the rent up to the end of feb to give me time to sort things out and informed everyone who needed to know that we’d ceased trading.
The end of an era as I took down the signs. 🙁
I looked for work during Jan and there was nothing, or nothing I wanted at least, with the end of feb fast approaching I decided to try again, spoke to the landlord who reluctantly let me stay on as long as I paid the costs of splitting the unit – I did, and did it largely by myself during a 6 week battle with flu and pneumonia!! I rented back my old print equipment, – handy! and tried again.. Ultimately it never really picked up as well as hoped, partly me, partly useless promises from marketing people, but mainly me, I think I’d lost something inside when I closed the old business. In august I’d pretty much given up triyng and spoke with a couple of the large co’s local Both invited me in for a chat over a coffee and within two days I had two pretty reasonable job offers on the table… bugger… that wasn’t my plan!!
Anyhow, after a little negotiation and a lot of thought, I went with the company that, while offering a bit less in renumeration, was 100% the right choice as far as atmosphere and work life balance was concerned, I accepted the job and then spent the next month dis-assembling 18yrs of detritus that one accumulates in a large space, espcially when there’s a lot of roof storage space and your wife wants the outbuuilding at home for her catering business… bikes, fishing gear, kayaks, camping gear, you name it, it was all up there and had to go!
I still managed to fill an entire removals truck when I left the unit of 6years, and half the luton too! moving from 900sq ft into a small 300sq ft workshop near my home took some doing for sure, but it allows me to continue with my branded products and to still do trade-print for local guys, the odd job as and when I feel I want to do them.
So, I now work full time for Graffiti Design, a national retail signage company who’ve been around for nealry 50 years, I recall how the late owner helped me several times in my early days, both selling cut panels and offering advice to a young upstart who thought he could be a sign maker! It’s quite an interesting change and especially so to see how a larger firm operates; ust what can be done when you have the right tools, the right people and the right kind of clients. Some of the things I’m quoting for are so out of my ordinary that my mind often boggles! I think the biggest change is being around people who give a s##t, people who ask how your weekend or evening was, ask how you are, not just demanding to know why the job they only confirmed two days ago hasn’t yet been installed! They’re a really good bunch of guys and in some ways I’m glad things are now the way they are, I’d never have voluntarily given up everything I’d worked for – you know, the feast and famine, rather lonely and often stressfull existence / lifestyle of a small sign people!!! I genuinley didn’t realise how stressed out and run down I was most of the time!
Anyway, I’ll still be around, I’m still doing my own thing and taking on jobs I want to do with a small but awsome group of people to install / fit.. Anything thats too big for my little workshop can be fed through Graffiti, anything that is even remotely a conflict of interest, just gets the “sorry, we can’t help, try Graffiti” response! I can also continue offering trade print to local sign firms or help print short notice for larger firms them when their print schedules are full or machines are down.
Life, I think, is good!
Bloody hell, that was the brief version! If you’ve read this far, Please contact Phill Fenton for your free bottle of single malt scotch as a reward!!
I suppose, to summarise, things can go from “this is great” to “isn’t this just f###ing great” in a very short time, keep your eye on the ball.
If you are struggling, don’t be ashamed to ask around larger companies nearby, they’re crying out for experienced staff. I genuinely thought I’d be unemployable, but as much as I can’t build what the guys in the workshop are building, nor do drawings to the technical standard of our scribblers, I have a wider, over-all experience of the industry that not many have, and that is very valuable to other companies, they actively seek the experience that I didn’t even know I had. The feeling of receiving two decent job offers, after barely a chat over a coffee and in less than 48hrs, was a pretty big boost to my personal moral, whch I didn’t even know was so low until… you get the picture!
I only came here tonight to be nosey, and ask if anyone knew a rough ink usage per sq mtr for a 365 Latex 🤣
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8 Replies
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Hi Hugh,
Thanks for sharing your story. I’m glad you’ve landed on your feet. Owning a small business is such a challenge. If you haven’t done it, you have no way to relate. Good on you for putting family first. Our passion for our business often comes with a set of blinders and a do or die attitude. There’s no shame if the time comes to move on.
Cheers from 🇨🇦
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Hi hugh, sad and good news at the same time. I can imagine how the last year or so has made you feel and it must be a relief to be on the other side of it now with a fresh slate, (and more importantly the wife is off your back).
Being a one man band myself everything you have described is constantly at the back of my head and mostly the wife just tells me to stop worrying. Having taken an interest in your growth over the years you assume that everything is great and obviously its only upwards but as often found out its not always the case. My own circumstances are much the same with the business growing 15% year on year over the past 8yrs and then stop……….this year i am treading water turnover wise and will be just under last year. It seems my growth has plateaued and its a worrying feeling. Also hit a slow period where actually only had 1 call and 1 email in last 10 days, something that has never happened. Maybe i get to write my own version of your book very soon (no copyright), hopefully not. Luckily my business is very flexible costs wise so hopefully its just a storm that i can sail through.
Its easy to enjoy the highs too much and stress about the lows, rarely in your comfortable state of mind.
Anyways, best of luck with your new life, make the most of your paid holidays and extended coffee breaks 😁
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Hugh we’ve spoken at during during this. It was sad to hear you so deflated and demoralised, when we spoke after you accepted your new role, I could tell there was a huge weight lifted off your shoulders, and there was some excitement about a new challenge.
There’s no denying there have been times where I’ve had similar thoughts, where I question is it all really worth it, and my enjoyment fades. I’ve also spent £10,000’s on marketing and advertising, and the numbers don’t stack up.
The truth of the matter is, it appears to be getting increasingly more difficult to earn a decent margin, that reflects the time, energy and skill involved. I do fear that the signage industry is heading the same way as the Litho Industry, where it’s easier & cheaper to outsource production to companies who can run at minimal margins due to volume… the positive to that is that there seems to be many box shifters, who will supply graphics but don’t want to get involved in installations.
I’m pleased you’re enjoying your new journey… although I would have chosen something outside of the signage industry!
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First things first – anyone contacting me for their free bottle of Malt – please be advised that there is a small admin fee of £75 + VAT to enable me to process your claim…
Joking apart, I had no idea of the circumstances you were going through Hugh but glad to hear you’re though to the other side and still in the business. I know you will be a very valuable asset to any sign company given your broad wealth of experience.
Your story sounds familiar. We had been doing really well up until 2020 when covid had a big impact and sales never really returned to their previous level. However I was coasting towards retirement and providing the business wasn’t making a loss and I was still able to draw an income I was happy enough to continue on – treading water as it were. Had I been younger and not approaching retirement I would have made a supreme effort to gain new customers….
Then I made the decision to retire and put my business up for sale. We found a buyer straight away and all was set to hand over in the beginning of 2024 so everything was looking rosy. Alas the buyer pulled out at the last minute and I made the decision then not to retire fully after all but decided to give up the unit and downsize working from home on a part time basis instead. And that is where I’m currently at. Working part time from home but without all the overheads involved in running a business from commercial premises of 1840 sq ft. I also pick and choose what work I now take on and have turned down a number of re-branding opportunities as I no longer need the stress involved in some ambitious projects.
However my final piece of advice to anyone reading this and worrying about the future themselves is to bear in mind the best bit of advice I heard when I first started out….”It’s a numbers game, the work is out there, if you tell enough people you WILL get the work” .
That is something I always relied on when times seemed tough
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Sorry to hear about your sale not working out Phil.
My landlord hiked our rent by 40%, I had no choice but sign, I have a break clause (and rent review) in a few years time. Between now and then I need to do one of two things.
Make it worthwhile keeping the workshop, or move away from vehicles and work from home like you.
There is work out there, however where I am located there’s an abundance of companies fighting for it. There are lots of similar companies shouting for work, having spent £1000’s on advertising last year the ROI wasn’t there.
There seems to be more and more ‘trade’ suppliers popping up, producing questionable work too.
More importantly can I have more information the £75 bottle… I have fond memories of sampling a 25yr Bowmore at their distillery.
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The £75 is an admin fee – the Malt itself is free as Hugh has already said. The malt you receive will depend on whatever is on offer at Morrison’s, Tesco’s or Lidl’s…
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🥃🤣
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Hi Hugh
Thanks for sharing what’s been happening with you, mate. I imagine this was not an easy post to make.
It sounds like you have been on a bit of a rollercoaster, and thankfully you are off it now.
There is no shame in it Hugh. running a company is hard enough at the best of times, but throw in Covid and the carpet was pulled from even the biggest and best.It is great that you have found employment with a company that sees your worth and lets you keep doing what you enjoy. I am 35 years in the sign industry and it is not been easy, but I love it, and I learn new things and meet new people every day. I love being creative and love problem-solving, so what better industry to work in!
Anyway, never dwell on the past, just learn from it and focus on what’s next.
All the best Hugh, I’m sure you will go from strength to strength from here on, mate. 👍
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