Well i'm totally on my own. No partners or employees! No finance!
My rent is nearly £2k per quarter, this includes service charge as its a council unit!
Insurance is nearly £3200 includes Road risk, Contents and public liability!
My contract is based on a 6 month notice period so basically if I wanted to give up the garage I would still have to pay the council for 6 months rent which is £4k!
In the first 6 months I turned over nearly £6500 but outgoings have been £6200 so only a profit of £300!!! No wage yet. But now the work has really dried up!!! It was never good but at least in the summer I had some work coming in!!
So far 98% of my customers have been family, friends and recommendations but NOTHING through advertising! Plus its always pre-booked work and so far nothing off the streets!!
The trouble is now my father has passed away recently and I now have 2 lots of bills as
the household costs etc are now my responsibility as well as paying for the garage!!
My only options as I can see are to find a Full Time job and somehow try and run the garage part time and after hours!! OR maybe get a Partner in and split the cost of the garage so it doesn't eat up all my own savings!!
I can just about survive for another 6 months to a year at a push at this rate before Im out of cash!!