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  • Shortest time between installation and bankruptcy

     NeilRoss updated 1 year ago 8Members · 11 Posts
  • John Lacey

    Member
    January 23, 2020 at 11:36 am

    I put up a sign and applied window graphics for a local barbers at the beginning of December – i have just removed the lot and he has handed the keys back. Poor nipper, spent the inheritance from his grandad and came away with nothing. Thats the shortest amount of time I’ve installed/removed signage


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  • David Wilde

    Member
    January 23, 2020 at 1:47 pm

    Christ!

    We rebranded an entire office (2 floors) twice in the space of 6 weeks once. Head office changed the logo almost immediately after the oringal rebrand. Didn’t even ask for a discount 2nd time round. But no, never installed signs so bad that my customer went bankrupt before! [emoji38]

  • Colin Crabb

    Member
    January 23, 2020 at 4:13 pm

    Delivered ‘urgent’ siteboards & scaffold banners on the Friday before a Bank Holiday for a builder – the builder was declared bankrupt on the Tuesday…..

  • Chris Wilson

    Member
    January 23, 2020 at 4:31 pm

    Fitted a sign once and I think they were open for 1 day.. maybe 2.

    Think a lot of people do there cash flow best case (fairyland) get a loan and then spend the cash. I know my landlord once rented a unit to a guy who immediately went and bought himself a top of the range Audi.. then couldn’t pay the £400 rent and was put after 3 months.

    It’s a shame. Business is a tough gig.

  • NeilRoss

    Member
    January 23, 2020 at 5:49 pm

    Painted a sign for a local joiner – poor fella died a couple of days later!

  • Phill Fenton

    Member
    January 23, 2020 at 8:31 pm
    quote NeilRoss:

    Painted a sign for a local joiner – poor fella died a couple of days later!

    Some people will do anything to avoid paying the bill :awkward:

  • David Hammond

    Member
    January 24, 2020 at 1:13 pm
    quote Chris Wilson:

    Think a lot of people do there cash flow best case (fairyland)

    You’d think some people would do a cash flow forecast, although many look at you with a blank face if you asked :rollseyes: Some, if not most, start up on a hope and prayer. "how hard can it be?" attitude.

    We’ve had a few customers go bump over the years, never, ever, ever, got a penny from a liquidator except from one – We got a cheque for £00.09p 😆 it’s pinned on my noticeboard, cost more to pay it in!

  • John Lacey

    Member
    January 24, 2020 at 1:56 pm

    In the 13 years that we’ve been going i’ve only ever had 2 non payers and only one of those was because of bankruptedness. Whats worse, i had a long standing relationship with the customer, he had bought many thousands of pounds worth of signs from me over the years. He knew he was going under and still ordered the signs! My wife always tells me there’s no such thing as friends in business – Luckily it was only a couple of hundred quid so i count myself lucky…

  • Kevin Mahoney

    Member
    January 24, 2020 at 2:44 pm

    I have to hold my hands up & admit that in over 30 years in this industry, I’ve NEVER done any sort of cashflow forecast, its a wet finger in the air. I could never guess what kind of business will walk through the door at any time. Normally it’s not worth turning our lights on in January but here I am drowning in vans.
    If any of you have any secrets in forecasting how much work comes your way, I’d love to be a bit more informed

  • David Hammond

    Member
    January 24, 2020 at 2:53 pm

    It’s not a case of forecasting the work, but what your expenses are over.

    Overheads are a given, but supplier payments etc.

    When starting up, it’s worth doing, to see if it’s viable. No point setting up if you need to sell 10,000 bacon barms a day to break even.

    @John – I think I can just about top that.

    We had a customer, who was more of a friend. Considering my Uncle had bought out his previous business and paid off their debts, and employed him. Working alongside my uncle and dad for years. Before the company was sold (another story) and he ended up setting up again.

    Must be going on 30+ years he’d had a relationship with my uncle, dad, and then me. I knew there was trouble at the mill, and it all came to a head when a former landlord issued court papers. Having paid £1000’s in legal advice already he folded the company. (i don’t blame him, I’d have probably done the same in the circumstances) but what got my goat, was the fact he went to ground, no word, no warning, no apology, nothing. Didn’t even tell his own staff (some of whom were family) who all found out when the liquidator walked in one day.

    I only heard from him again because he didn’t like that I’d called him an unpleasant word to a few people, he also didn’t like the response when I said it to him myself 😆 £4000 out of pocket :bangshead:

  • NeilRoss

    Member
    January 24, 2020 at 4:31 pm
    quote Phill Fenton:

    quote NeilRoss:

    Painted a sign for a local joiner – poor fella died a couple of days later!

    Some people will do anything to avoid paying the bill :awkward:

    Joking aside, I had to wait six months or more for the estate to be settled :awkward:

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