RE: Vox market pod cast27 Jul 2018 10:35
I will tell you a story that happened me me many years ago. Ok different industry and financial scale but the principal is the same.
30 years ago I was a taxi operator in Stratford upon Avon, I was a sole trader up against the larger companies. I owned 7taxi licenses and it was a real struggle to find work for them all. Whilst on holiday one summer in the Peak District I met the owner of the largest taxi Co. in the area and we got together for a BBQ on the camp site that evening. As the only thing we had in common was the industry we started talking taxis and as the wine flowed we both dissuade our different views on it. His business was purely about miles, the more his cars did the more he earned and so did. his drivers, mine was more to buy licenses as they came up , run them and sell up one day. He needed another taxi on the fleet but had no license for it, I had a spare license but no work for it. He could not afford to buy mine as I did not wish to sell. He offered to lease the license from me,supply the car,driver,meter,radio and cover all running expenses. For this he would pay me 6p (remember this was 30 years ago) for every mile the car went. The taxi rate at the time was if I remember was 80p a mile so this deal did not sound so good. As the evening went on and more wine was drunk we decided to try it for a 12 mont period. This turned out to be the best deal I had ever done, a regular weekly income with no expense and a guaranteed weekly minimum payment. It worked very well for both of us. This gave me the ability to further my side of the business with far less risk until I sold up and followed my dream.
You never know who reads these boards so if Bob who moved to Canada to follow his dream to be an ice road trucker, thanks.