New business ideas please

[rs48635]

Hi Geoff

I got chatting to the guy who does the railway parking at Huntingdon, so do know this works. He used to commute into London, and even recruited a retiring city guy to collect the cash £££
Pretty sure it now uses ticket machines, no idea if he has other sites. Not just for grim north, ideal for london commuter routes.

 

[GeoffCapes]

Hi Geoff

I got chatting to the guy who does the railway parking at Huntingdon, so do know this works. He used to commute into London, and even recruited a retiring city guy to collect the cash £££
Pretty sure it now uses ticket machines, no idea if he has other sites. Not just for grim north, ideal for london commuter routes.

Don't know about the grim north I'm from Essex!

 

[hoyin]

Bugger. I typed out a long reply and then lost it.

Anyway. I said that I had two examples to give of the money making opportunities of a nursery and care home.

My parents neighbour gave up his city banking job to open a nursery.

I think there was an accident or something anyways the bailiffs came in and took his house and put it on the market.

Then one of my schools friends married into a family that ran care homes. They had a whole group of them and he was helping his father in law manage them. Again not sure what happened I think the bank called in theirs loans and they couldn't pay and they lost everything. So now he is retrained as a teacher.

So to balance things out you have winners and losers.

Surely if you want quick money you just make one of those million pixel webpages and sell each pixel for £1.


Sent from my iPhone using Tapatalk

 

[rs48635]

seems that many of us enjoy a Maserati lifestyle by dint of our skill / hard work / business acumen.
I too now want to live the maserati life while being paid to do it.

My own friends suggest similar advice already heard. Carry on with the easy consultancy / office work but take more time to indulge the car world. If things progress with the cars , do less of the office whizz.
Oh and get another high earner in the household too Good luck, to all!

 

[Wack61]

Surely you'd need planning to open a car park , probably studies to show the environmental impact of cars bumping up the kerb then the noise of the engines revving when they don't make it

Was the other car park started in 1974 , all you needed then was a hut and some trainers to leg it if something went wrong

 

[Felonious Crud]

A well-heeled mate of mine advises to marry a BWA*.

*Bird With Acres.

 

[conaero]

Surely you'd need planning to open a car park ....

If said land was being used as a dumping ground, which one would you rather live next to, the dump or a car park?

And there in lies the reason he got planning....saved the council a major headache.

 

[Wack61]

A well-heeled mate of mine advises to marry a BWA*.

*Bird With Acres.

good plan, I know a guy that married a farmers daughter, for a wedding present her dad gave them a derelict cottage on his land, they knocked it down built a nice house, lived in it for a bit then sold it for a tidy sum

 

[hoyin]

Or do what some guy did. I think it was in Leeds?? Not to sure. But the story goes there was a car park there and the attendant managed it for 20 years. It was very well managed. Then one day the attendant disappeared and it was chaos. The locals went to the council and said hey you need to supply an attendant to manage the car park. To which the council replied ... what car park?




Sent from my iPhone using Tapatalk

 

[philw696]

Don't know if its true or not but car parking at Bristol Zoo was on the wide verges adjacent to it and the same guy for years taking the money didn't turn up one day.
The Zoo thought it was the Council and vice versa.
Made a fortune allegedly.
Peter Safrane might be able to verify

 

[midlifecrisis]

Car parks do need a planning application and these days new car parks have to comply with a lot of environmental legislation. It was the basis for a previous employer to get rid of rogue airport car parks on what was farm land.

Sent from my D5803 using Tapatalk

 

[hoyin]

Don't know if its true or not but car parking at Bristol Zoo was on the wide verges adjacent to it and the same guy for years taking the money didn't turn up one day.
The Zoo thought it was the Council and vice versa.
Made a fortune allegedly.
Peter Safrane might be able to verify

That was it Bristol Zoo.

Same story. Not Leeds.


Sent from my iPhone using Tapatalk

 

[hoyin]

Surely something like car storage with facilities to work on your car as well that can be hired out has some legs?

Needs some capital outlay to rent a warehouse and security and insurance.


Sent from my iPhone using Tapatalk

 

[Wack61]

Bristol zoo is a made up story, funny though

There's a long running thread on PH about a guy that started a warehouse parking operation , didn't pay anybody , the roof blew off in a storm , sold a car that was being long term stored, a lot of PH members lost money with him , he's still a member and up until recently was posting saying he'd be paying them back



https://www.pistonheads.com/gassing/topic.asp?h=0&f=10&t=1635401

 

[Team GCR]

Also if you do it commercially you will pay tax on your profit whereas if you do it privately you can restore 6 cars a year and not pay tax on the profit but you can't write the costs off either.

Personally I would see if you can flip 6 cars in a year and make £5k a car. You will be amazed what detailing can do to an unloved car.

You can live comfortably doing this and combine it with buying a few that might appreciate and selling them on once the values have increased.

There is one downside that I didn't think I needed to worry about though which is worth considering. You can make good money doing this and as you rightly say there is no tax to pay on the profit. As I said I didn't think this would be a problem but recently as my house has taken longer to sell than expected, combined with the fact the house I wanted dropped substantially in price I have been trying to raise a mortgage to buy the other house. This is where having a low taxable income can be a problem and has made it far harder than it really should be to arrange the finance to buy the other house. I am nearly there (fingers crossed) and should hopefully know in the next couple of days if it will come off. I am lucky though to have a friend who is a very able mortgage consultant and luckily, although I have been tempted recently, I hadn't moved from my private bank as the name of the bank reassured the lender I have the assets to cover the borrowings etc.,..

As I said I thought I wouldn't need to apply for another mortgage or similar but you can't always foresee every circumstance so this downside is worth bearing in mind.

 

[Wack61]

I hadn't moved from my private bank as the name of the bank reassured the lender I have the assets to cover the borrowings etc.,..

In the 80s I took a cheque from a woman from a bank I'd never heard of , viewed it with much suspicion but she had a bank card and it was under £50 so I thought OK

I took it straight round to pay it in and expressed my suspicions to the elderly assistant manager

He just gave me a wry smile and said I think you'll be OK with this one

Coutts Bank

 

[GeoffCapes]

In the 80s I took a cheque from a woman from a bank I'd never heard of , viewed it with much suspicion but she had a bank card and it was under £50 so I thought OK

I took it straight round to pay it in and expressed my suspicions to the elderly assistant manager

He just gave me a wry smile and said I think you'll be OK with this one

Coutts Bank

It's only a posh branch of Nat West! lol!

When I left school I got a job with Coutts, but didn't want to work in a bank (just like any other high street bank to be honest).
When I declined their offer they actually wrote to me asking why? as they don't get job offers turned down very often.

 

[Felonious Crud]

You look like a man that would suit a bank job, Mark. Don't forget yer shooter.

 

[GeoffCapes]

You look like a man that would suit a bank job, Mark. Don't forget yer shooter.

View attachment 42634

 

[Team GCR]

It's only a posh branch of Nat West! lol!

Mark,

Sadly that is more true now than ever which is why I have come close to moving my banking elsewhere. They have closed all their branches except the one in The Strand and although they have offices in a number of places there is as far as I know no counter service apart from The Strand. So basically I now end up doing most of my day to day business in my local Natwest branch who to be fair seem to be pretty well briefed on the situation.

It used to be far more personal and in the days when I worked in London W1 the service I got from my local branch in Cavendish Square made it in those days much more worthwhile!