Gone very quiet
Discussion
BEP said:
Just having a look at our first two quarters in Motorsport retail and there’s become a definite pattern.
For the last three years we were busy across each month with a dip during the summer. What I’ve seen this year is sales spike last week / first week of each month which coincides with payday fir lots of people.
April was an utter disaster as it seems it was for so many, however May/ June have been ok.
I think it’s showing people are now only buying just about what they can afford rather than the scatter gun approach we e seen for 2-3 years.
We always felt Motorsport would start to see money related issues once grants / furlough had been spent , I just didn’t think it would be an economy wide issue.
The real looming problem, IMHO, is this winter. If people are cutting back now and just buying on payday then what happens in December? (FWIW we are seeing similar, busy for a few days around the end / start of the month the v quiet the rest of the month)For the last three years we were busy across each month with a dip during the summer. What I’ve seen this year is sales spike last week / first week of each month which coincides with payday fir lots of people.
April was an utter disaster as it seems it was for so many, however May/ June have been ok.
I think it’s showing people are now only buying just about what they can afford rather than the scatter gun approach we e seen for 2-3 years.
We always felt Motorsport would start to see money related issues once grants / furlough had been spent , I just didn’t think it would be an economy wide issue.
We have always operated with a reasonable buffer but the last 3-4 months have eroded that to the point where when we get into the winter we wont have that buffer built back up again. I would say in years gone by we would have been able to survive 1-2 years if a major recession. However COVID has caused this to be reduced to pretty much nil as we lost the best part of 2 years of trade.
We are now left with a choice, pump more money in - which we are never likely to see back or call it a day now and retire a bit earlier than planned.
The standing costs of the business are around £20k a month, so its a case of find £100k+ personally to get us to March next year in the hope we might make that back next summer or call it a day now and not take that risk.
Its not how I wanted to end things but frankly I don't think that's a gamble I am willing to take.
Not easily and honestly its not really worth a great deal. Owner operated makes it worth less. Plus we have a lot of competition and the last few years profits have been way down. The main asset of the business is the commercial property but thats held outside the company thankfully.
If thats where you are then just remember if you leave it till the last minute its possible a lot of other people might be doing the same things. Thats not said to teach you to suck eggs as I am also in the same position and I have come to the conclusion its better to get out now than in 6 months.....
Its been a while since I updated.
A lot has been happening so I cant really say too much at this stage but we will likely close at the end of the month.
Its already been quite a strange couple of weeks selling off a lot of the assets and running the stock out etc. Staff all took it very well tbh, I think some of them were pretty happy as they will get redundancy. Some have already found new jobs, I have been helping with that where I can with our partner businesses.
Will update further when I can.
A lot has been happening so I cant really say too much at this stage but we will likely close at the end of the month.
Its already been quite a strange couple of weeks selling off a lot of the assets and running the stock out etc. Staff all took it very well tbh, I think some of them were pretty happy as they will get redundancy. Some have already found new jobs, I have been helping with that where I can with our partner businesses.
Will update further when I can.
Amazon sellers using their back end but they list on ebay then their system fires it out of Amazon - you normally find the prices on ebay are higher to cover the ebay fees plus a cut.
Means you can sell the same item on two platforms but only have to deal with one supplier for fulfilment
IYSWIM.
Means you can sell the same item on two platforms but only have to deal with one supplier for fulfilment
IYSWIM.
I think we really do have to have a bit of a reset in the UK now. The idea you order something at 11am and it arrives by 2pm is great but its just unrealistic on the workers and also on the competition. Which is why they do it I guess. Who ever can deliver quickest wins I don't think that's a great road to be going down I mean how much energy is wasted in that sort of system ?
Aventador 700 said:
DSLiverpool said:
Aventador 700 said:
thxMaybe another thread then..
Seriously, I am a +1 on dont bother. The market is tight and the charities are getting in big time now with the likes of ebay.
They dont care its not their money.
Phooey said:
We've noticed a lot of tradesman are almost getting to point they are unaffordable -
When I started out (mid 2000s) a subbie gang (1 qualified grounds worker and 2 labourers plus van and tools) was IRO £300 per day.When i finished this year the best I could get was £500 a day. Thats mates rates too. I had a couple of other gangs I could call on but rates were anywhere from £600 to 800 a day.
Most general labourers want at least £120 a day now and from what I hear if you actually want someone reliable its more like 150.
Tipper drivers are on £16/hr+ pretty much everywhere now. I know of a few places paying closer to 20.
Hiab drivers a bit more.
The whole building industry is going to suffer big time when / if there is a big pop in the market. Personally I think its coming by Q2/3 next year.
I know more and more landscapers with M3s, AMG Mercs etc. I also know a few who have ditched regular landscaping and have gone down the maintenance route as its less risk in materials etc and they can keep good cash flow.
It all just feels very toppy right now.
Run up to Christmas now, I think anything B2B will be staying steady.
Stuff like Amazon and the like should start to pick up at the end of the month.
Trafford Centre was absolutely rammed on Saturday. Xmas shopping has started.
Busiest I have seen it since Dec 19.
I can see construction and F&B slowing down a little though.
Stuff like Amazon and the like should start to pick up at the end of the month.
Trafford Centre was absolutely rammed on Saturday. Xmas shopping has started.
Busiest I have seen it since Dec 19.
I can see construction and F&B slowing down a little though.
Mezzanine said:
gotoPzero said:
@ clockworks do you repair pocket watches?
Not sure where you are located but Bill @ Bold Timepieces might be able to point you in the direction of someone who might be able to help.There is no where in the U.K. that would be long term survivable for 99% of people in the event of a full blown nuclear exchange.
The blasts would only kill a chunk then another chunk with the radiation over a month or so, but the long nuclear winter would take most people.
We are just not in a good geographical position.
We would not see temps much above freezing for several years and for winter we could see -30c in the U.K.
Best solution would be to head to South America or a pacific island but transport would be virtually impossible, the only people with a chance who are not in government would be someone who could sail a boat. Easier for people in the US and Asia as they could drive etc.
The blasts would only kill a chunk then another chunk with the radiation over a month or so, but the long nuclear winter would take most people.
We are just not in a good geographical position.
We would not see temps much above freezing for several years and for winter we could see -30c in the U.K.
Best solution would be to head to South America or a pacific island but transport would be virtually impossible, the only people with a chance who are not in government would be someone who could sail a boat. Easier for people in the US and Asia as they could drive etc.
Quattromaster said:
Alloy wheel refurbisher here.
Usually do 140 to 160 wheels per week.
Last week we did 28, the week before 45.
Just over 20 years I’ve been doing it, never ever seen it this quiet, I’ll be closing the doors in the new year as I can’t see it improving anytime soon.
Can you do magnesium speed lines?Usually do 140 to 160 wheels per week.
Last week we did 28, the week before 45.
Just over 20 years I’ve been doing it, never ever seen it this quiet, I’ll be closing the doors in the new year as I can’t see it improving anytime soon.
If yes please post back as I am thinking of doing mine.
Frimley111R said:
loafer123 said:
10 year gilts today down below 3%, GBP over $1.20.
I don't know what that means, is that good?We might see a bit of a bull run for the next couple of months then as earnings weaken (i.e corporate values) we will see the markets either go down a little or stay flat for a year or two.
OR
We might be about to enter another downward leg for 2-3 months with a possible 20-30% fall from where we are now. Which in turn might force a deeper recession. Which might force the markets down again later on in the year. But then followed by a recovery. I.e double dip.
Its very hard to tell. I think if job numbers stay as they are and the recession is shallow we might end up in the first situation, which is much better.
Just my 2ps worth. There are a lot of moving parts and things are so fragile right now it would only take for an escalation in Ukraine or for one large bank to have a wobble and its going to be a long way down!!
Meanwhile, went to Tesco yesterday. About 930am. It was empty, and by empty at one point I just stood there thinking is something happening I dont know about. Got to the tills and up and down the entire till line there was me and an old lady buying 2 bottles of vodka.
Shocking really. Around that time its normally quiet but not that quiet.
Conversely stopped at Aldi on the way back and it was pretty busy. Not packed but the normal level of shoppers.
I have a feeling Tesco, M&S, Sainsburys might not come out of this very well.
Shocking really. Around that time its normally quiet but not that quiet.
Conversely stopped at Aldi on the way back and it was pretty busy. Not packed but the normal level of shoppers.
I have a feeling Tesco, M&S, Sainsburys might not come out of this very well.
singlecoil said:
If people are shopping at Lidl and Aldi because stuff is cheaper there, I wonder how those firms are managing to do that? Are they trading at a loss deliberately, or are they somehow able to make money selling at prices that the other companies can't match? If the latter, how are they doing that?
Lots of variables from buying power to store running costs.Most Aldis are quite small compared to Tesco. The 2 I am talking about are within 300 yards of each other and I would say the Tesco is at least 10 times the size of the Aldi.
Frimley111R said:
Regy53 said:
Yeah im of the opinion of early 2008. I dont think there’s long left. However as a lot of posts here im amazed at the amount of spending in the shops ‘ pubs etc.
We're going for a weekend away in Stratford Upon Avon. Mrs 111R phoned 5 restaurants on Wednesday and all were fully booked on Saturday evening. We went to the local Christmas lights swtich on last week and it was packed too. If you ignore the news/facts it looks like nothing is wrong at all.I actually think we are going to see (or are in the middle of) a repeat of the .com crash from 2000.
That lasted about 2 years. We are 12 months in. So we have another 12 months of pain, maybe a touch more.
Just look at tech stocks. They are down bad, FB down 60% YTD. Google 32% YTD. Amazon down 45% YTD.
There is massive sums of money invested in these companies.
A lot of markets have been see-sawing all year but they have in general been making lower lows and lower highs since the new year, so whilst short term traders have seen the chance to make money the long term investors (which is the vast, vast majority) have seen a reduction in their valuations.
I think the first proper dip we see in the market we might see panic thats when the S will H the F.
Gassing Station | Business | Top of Page | What's New | My Stuff