So essentially you have purchased on a deferred consideration. Good structure,.. did you try and spread the payments over a longer term or they wanted the money more quickly? Great video, appreciate the transparency!
That’s it ☝️ I could of potentially pushed it back yes but to be honest I would sooner get the payments boxed off so we can push on Getting through the summer period may get tough but we will make it work 👊🏻
Love the videos Ryan, can I ask what office roles you have, at the moment we have 4 engineers and my wife in office answering calls, and me running everything else, jobs, parts, vans, social media etc etc everything else to do with running a heating business and team of engineers. I’m thinking of getting someone else in to run the phones and move my wife onto running accounts etc. Thank you and keep up the great work
Cheers pal 👊🏻 I have always been been big on understanding the numbers A bookkeeper would be a good move if your wife is comfortable and efficient at what she is currently doing, I would be training the bookkeeper to also take calls. We have X2 Ladies in the office running the diary, service plans and a long list of other stuff X2 Ladies on account’s
Alot of overheads mate! You seem chilled out about it all... love the videos showing the different side of business.. keep up the good work and try not to over stress yourself
Some decent figures there Ryan and a great way to squash the big numbers into monthly outgoings. I’ve not a clue about VAT but sounds like you have a good idea on how to best balance everything. Just one thing, how much are new vans !?!?!?!? Crazy money these days but hopefully, the new ones will be worth substantially more than £3000 in 48 months, just like yours in currently. BTW, yours is well smart, not only seen you on the road, I saw it outside the Gym when I was walking my dog.
Cheers SI, I did clock you last min the other day 👊🏻 The vans are expensive now especially when you add the kit to the back and the wrapping! I’m sure we will see you buzzing about pal
Thanks for the video Ryan, great as always. Quick question on your service plans. If a customer calls wanting a service do you put them straight onto a plan and go service the boiler and if so does that not hit your cash flow up front, ie not getting paid in full for 12months but you have to cover costs of van/employee? Do you think anyone would pay for a service then go onto a plan, ie they’ll be pre paying for next years service which sorts the cash flow issue?
You're a braver man than me. You seem to have a nice business model going on. Generating quick cash not relying on being paid by main contractors or builders. Fair play. We do massive jobs with impressive numbers but cashflow is a headache
Deferred consideration is definitely one of the best ways to buy businesses. We have done it 3 times (so far) all in this way. Might worth seeing if BHE have any tangible assets without finance. Could be another way to cover the initial deposit on the purchase of BHE. Keep up the good videos 👍
@@rjmartindaleltd Not plumbing 🤣 We manufacture slush syrups, supply slush machines etc. pretty much all b2b. Seriously impressed with your channel so far bring on 1k subs, you’ve earnt it. 👍
So essentially you have purchased on a deferred consideration. Good structure,.. did you try and spread the payments over a longer term or they wanted the money more quickly? Great video, appreciate the transparency!
That’s it ☝️
I could of potentially pushed it back yes but to be honest I would sooner get the payments boxed off so we can push on
Getting through the summer period may get tough but we will make it work 👊🏻
Great vid
Cheers pal 👊🏻
Heavy
Cheers pal
That’s a hell a lot of expenses each month.. makes me wonder how much work you have got to make profit! Salute to you mate
Pressures on mate 👊🏻
Just remember. The bigger the beast, the more it will eat. OK when there is plenty of work but if it dries up…… Nightmare
Im all in now pal 😬
Fantastic site which is original very helpfull informative, nothing quite like this on the web...keep it coming good health and prosperity.
Thanks mate
Love the videos Ryan, can I ask what office roles you have, at the moment we have 4 engineers and my wife in office answering calls, and me running everything else, jobs, parts, vans, social media etc etc everything else to do with running a heating business and team of engineers. I’m thinking of getting someone else in to run the phones and move my wife onto running accounts etc. Thank you and keep up the great work
Cheers pal 👊🏻
I have always been been big on understanding the numbers
A bookkeeper would be a good move if your wife is comfortable and efficient at what she is currently doing, I would be training the bookkeeper to also take calls.
We have
X2 Ladies in the office running the diary, service plans and a long list of other stuff
X2 Ladies on account’s
Alot of overheads mate! You seem chilled out about it all... love the videos showing the different side of business.. keep up the good work and try not to over stress yourself
High pressure now Brendan but we are ready for it 👊🏻
Know your numbers mate, another great video and insight into business operations 😊
Cheers Cuzzy 👊🏻
Some decent figures there Ryan and a great way to squash the big numbers into monthly outgoings. I’ve not a clue about VAT but sounds like you have a good idea on how to best balance everything. Just one thing, how much are new vans !?!?!?!? Crazy money these days but hopefully, the new ones will be worth substantially more than £3000 in 48 months, just like yours in currently. BTW, yours is well smart, not only seen you on the road, I saw it outside the Gym when I was walking my dog.
Cheers SI, I did clock you last min the other day 👊🏻
The vans are expensive now especially when you add the kit to the back and the wrapping!
I’m sure we will see you buzzing about pal
@@rjmartindaleltd 👊👍
Thanks for the video Ryan, great as always. Quick question on your service plans. If a customer calls wanting a service do you put them straight onto a plan and go service the boiler and if so does that not hit your cash flow up front, ie not getting paid in full for 12months but you have to cover costs of van/employee? Do you think anyone would pay for a service then go onto a plan, ie they’ll be pre paying for next years service which sorts the cash flow issue?
Yes we do pal
So yeah you do lose short term but it’s hard to tap into the market when BG and others are so prominent
You're a braver man than me. You seem to have a nice business model going on. Generating quick cash not relying on being paid by main contractors or builders. Fair play. We do massive jobs with impressive numbers but cashflow is a headache
Cheers pal, we used to do work like that and it drove me nuts!
We keep it simple now 👊🏻
Brilliant video - though you’re looking tired mate 👍
🤣 I filmed this at 5:45am - 6:45am
Takes me 2 hours to wake up !
@@rjmartindaleltd 🤣🤣
Brilliantly video,you should have a word with my boss on finances😂😂😂👍👍👍👍
Cheers Luke 👊🏻
Paying a premium just for the ford badges on these vans,
What do you recommend pal?
Good content mate 👍🏻
Cheers Chris 👊🏻
Deferred consideration is definitely one of the best ways to buy businesses. We have done it 3 times (so far) all in this way. Might worth seeing if BHE have any tangible assets without finance. Could be another way to cover the initial deposit on the purchase of BHE.
Keep up the good videos 👍
Deferred Consideration - I didn’t know they called it that, thanks !
What line of work are you involved in ?
I will look into that, thanks 👊🏻
@@rjmartindaleltd Not plumbing 🤣 We manufacture slush syrups, supply slush machines etc. pretty much all b2b.
Seriously impressed with your channel so far bring on 1k subs, you’ve earnt it. 👍