I was Branch manager for 3 different national companies in succession over a number of years and I hated every minute!
OK, the salary, expenses, car etc. gave us the lifestyle we wanted but at a cost. I worked very long hours, saw little of the kids growing up and was always stressed. Looking back, the price was a bit high I think.
I always wanted to work for myself but the more you have to gamble, the harder the decision and I guess in the end I was too cautious, until my last company went bust and the opportunity was thrust on me. That was 15 years ago and and the best thing that could have happened to me. Granted I worked even longer hours at times, earned a lot less at first and couldn't replace the prestige car for a while but the pressure was different and the stress melted away. Despite the problems, I've never been happier.
That said, it isn't something to enter lightly and my advice would be research, research and plan and prepare it properly. Work out the worst scenarios possible and how to avoid them then expect the best and work to that. Additionally, monitor and analyse the business continually against your targets. A business can easily fail due to the owner being too busy to keep his eye on the ball.
An aquaintance a few years ago was doing very well pushing out a couple of kitchens a month at a decent return when he got the chance of a contract with a builder. He cut his margins, took on 2 guys and worked 6 days a week. Over a 12 month period his private work almost disappeared. He didn't realise he was making virtually nothing and when the builders started taking 3 months credit he went under. It broke his spirit and he never recovered.
I learned a very long time ago to concentrate on quality work at the right price to reliable customers and to walk away if it doesn't feel right. I get paid on time, make a good living and nowadays work a 3-4 day week though it helps when the other half has a decent job :wink:
As far as OZ / NZ is concerned. I have a brother in Sydney, left a position as production director of a very successful company in the UK. he found it challenging for a few years but his life/work balance is fantastic and there is absolutely no way he will come back.
We visit both countries and I wish I'd made the jump when I had the opportunity.
Appologies for the essay - got nowt better to do this afternoon :roll:
Bob