Glen James
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Podcast Appearances
Why don't he try and turn up the business and hire staff within or try and generate enough money to pay for an au pair or whatever they call them.
I don't know.
It's easy to say this crap when you're sitting in a shed in Newcastle.
You can like it all you want if the economics don't stack up.
Like the fact, like this is the problem, everyone.
The fact that there is debt of land taxes and income tax and super, that is critical.
This is like breaking point and I don't know if you can turn the business around.
I would... Literally, I would be more scared of the land tax debt than the ATO debt.
Someone's being asleep at the wheel.
I've got an idea, John.
Got an idea.
If only they had a 10-acre block.
Let's sell the commercial premises.
Let's pay off that debt back, right, 500K.
Let's clear the house mortgage, flip and build a 200 grand shed on the block and work from there.
Then you can love what you do without all the overheads because then it can be more of the hobby business because I'm seeing this vehicle manufacturing custom work
There could be a lot of work and if you are in that industry, people will know who you are and they will go to you.
So, for example, next door here, Bennett Benchmark Performance, whatever it's called, he's got the dyno next door.
All day long, that's why I had to spend freaking $20,000 on insulation for audio here.
But like all day long, there's trucks that are pulling up.