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longtomsilver

What's The Best Business To Setup To Fail.

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There's quite a few unsuccessful successful people that I know of who have become company directors of their own firms which have been on an almost instant downward trajectory and ultimate demise but somehow they come out the other side smelling of roses in a big house and a posh car. Rinse and repeat a few times and retire.

One of them is a carp builder I know via the wife, brought up in conversation as they sent their children to private school and the other person was/is in the feed-in tariff business (last business was a VAT carousel fraud, his partner went to prison... Business went into liquidation; he's easily worth £5million).

So high turnover, low margin. Optimum start-up capital. I.e. £30,000 in £300,000 out.

All hypothetical.

Grant Groovy (boo) eat your heart out.

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Pub Tenancy via a Pub Co.

My brother sold his moderately successful contract cleaning business to pursue his dream of running a pub courtesy of Punch Taverns.

I had worked in a corporate position for a rival and warned him against it in no uncertain terms but he never listens.

He took on the tenancy which ended in tears after 5 months. Cost him 40K overall and most of the money from the sale of his business.

He then invested in a courier business.

That lasted 6 months and cost him his house. :ph34r::ph34r::ph34r:

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In answer to the OP,

It sounds like what you actually want is a marginally profitable business that you can drive into insolvency by transferring the company money into personal money through paying yourself far too much money as an employee before screwing over your creditors and sacking off the company with all of the attached debts.

If that's how you roll, it's more about how you perform the confidence trick on your creditors than what line of business you are in. Small family run businesses would probably be more naive. It would make you a monumental ******* though.

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Actually Tom is already in exactly the best business. He's married to someone rich and has kiddies. A profitable position from which to fail.

+1 for the link. Nothing original from me - screwing people over is as old as the hills.

Succinctly put re. marrying someone rich (not originally but that's how things panned out. So she wants equality ;):D

I'm only musing. Its more of an inconvenience than anything else bit my 12 hour (0 hour contract at spoons) has been decimated with the arrival of a new pub manager. From 18 per week to 6 which is hardly worth bothering.

Lots of no shows on Saturday night after some full-time (0 hour) peeps have had their hours cut from 50 to 23 (exactly for 3 people). No phone calls to say they weren't coming in and phone switched off. I almost didn't bother myself. The new pub manager is recruiting 8 new staff week and they are all under 21 ;)

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Sounds like there's a back story on this one Mark. Spill the beans. ;-)

I've been offered partnerships/shares in lieu of development work but have always turned it down. It crosses a line that should rarely be crossed and what each party brings to the table is too unequal.

I have however watched a number of clients' businesses - partnerships - fail due to "falling out" between the directors including one comically tragic one where both directors (50/50 split) kept requesting their administrator password be reset so they could gain control of the facilities to the detriment of the other.

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In my experience as an accountant, construction workers (going from self-employed to a limited company) seem to have no comprehension that the company's money is not theirs and just extract all the cash as if it were drawings. They seem to be masters of screwing over their creditors before setting up again.

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Renting badgers out has always failed for me! :blink:

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Dog walking specialising in Whippets. Good luck getting a Yorkshireman to pay you £5 to take his dog for a stroll.

On a more serious note - any business whose main customer base are on benefits.

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Wedding car hire. A mate of mine failed with this one. :wacko:

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Dog walking specialising in Whippets. Good luck getting a Yorkshireman to pay you £5 to take his dog for a stroll.

On a more serious note - any business whose main customer base are on benefits.

So that is 90 % of the population then.

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