A couple of things have happened in the last few days that have got me reappraising my immediate future in my business.
Firstly, it looks like the whole industrial area where I have my shop is going to be redeveloped in the next year or so. I'm going to have to find new premises for my shop.
Secondly, my assistant has left, leaving just me and my finishing guy.
So, what to do?
I really don't want to have to find a new guy and train him up only to have to relocate the shop in a couple of years. What I'd really like to do is cut back and work by myself. The reason I've been an employer is to give my business the critical mass needed to cover my overhead and turn a profit. Out of choice I'd lower my overhead to the point that I can support it alone.
One solution is to move my business into a friend's shop and share the costs. It is something we have discussed at length and the sums stack up. We wouldn't be partners - we'd each be working independently but splitting the costs of a workshop between us.
Has anyone any experience of this kind of arrangement? What pitfalls should I be looking out for?
If I were to move into my friend's shop, I would be forsaking my finishing room. At present I do his finishing in my dedicated sprayshop - his place doesn't have the space. I'm thinking that by moving onto water-bourne finishes we could manage without the specialist spray facilities that I currently have. What does anyone think?