One step closer to selling out and moving provinces!

iVillage Member
Registered: 03-15-2012
One step closer to selling out and moving provinces!
14
Tue, 08-21-2012 - 4:16pm

I wrote in Family Finance about dh and I thinking of moving.  He has loved his job the past 15 + years but the last 6 months or so he has not been as happy there.  We started brainstorming about moving to BC (to an area we both love).  It would be hard for DH to find work there (we would live in a more rural location - not near a big city)  that pays what he make now so we started throwing out all sorts of ideas.

I have been researching various towns, Chamber of Commerce and websites that promote businesses for sale in the area.  We have come to the conclusion that owning a business would be the way to go rather than look for employment.  DH and I area seriously looking at buying a franchise. 

Our plan is to sell our house in 2013 (we would list in Feb/March).  Also, in the spring we would sell our holiday trailer which, with regular payments we make to our car loan now, would come very close to paying off that loan if not completely.  We would use some of the equity of our home to pay for the franchise and I am plan to research grants and business loans etc to help with cost of setting up the business.  Compared to many franchises, the start up is relatively low and it is in the same industry my dh currently works.  We both are very excited about it and scared too.

We have talked off and on for about 4 or 5 years about moving to BC which we fell in love with on a family vacation.  At some point we just need to take the plunge.  It is a business that we could work right away and hire employees as we grow the business which appeals to both of us (not having to hire a bunch of people right away).  DH would do the work and I would manage the books/office managment side of things. 

I still have lots of research to do (including taking a trip to the area and get to know the towns, etc)  and this is has gotten us even more motivated to pay off our car faster and save more money!!  We owe just over $17k on our car right now.  I feel very empowered by taking these steps (even if only in research and planning stages).  I have always wanted to live lakeside where there are trees and this will get us closer to the dream. 

Mostly likely we would rent a house and build up our down payment towards another home while we build our business. 

If anyone has advice (how to's and where to research etc) would be greatly appreciated!

Sandra

strivng to be debt free for the big move!!

 

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iVillage Member
Registered: 03-15-2012

Update:  I contacted the franchise we are thinking of opening and up and sent in preliminary info about ourselves.  They just got back to me and said they would be sending us more info about the franchise which means they are interested in doing business with us.  If they had not liked what they saw on the papers I filled out they would not be sending me more info!

DH has also booked some days of in Septmeber and we are going to spend 5 days in the area looking around and will contact a realtor a few weeks before we go so that we can look at businesses for sales as well as housing to get a taste for what is in the area.

This is so exciting and very scary at the same time!  ONce I get the info from the company it will be some serious number cruching time.  Makes all the more committed to pay of our car loan asap!!

One more thing to add is that I contacted an organization in the area that will assist me with research, business planning etc!  She gave me valuable info about the area. 

Sandra

iVillage Member
Registered: 03-15-2012

And to add - I didn't or don't feel like you are stomping on my dreams.  You are pointing out things I need to consider and I appreaciate it! 

Thank you!

iVillage Member
Registered: 03-15-2012

galstorelady,

 

The cost of living will be a factor in my research.  One thing that is cheaper is rent!  We will most likely rent first before buying a place and rent is signifigantly cheaper than where I live in Alberta!  At least what i have seen so far on the net.  I want to research heating, electrical costs, insurance etc.    I am a big picture person so I want to know all that kind of stuff.  I already know cost of living is higher just how much I have no idea at this point. 

DH has now confirmed some time off in September and we plan to take a trip and look at homes, buinesses for sale, communities in general. 

We are both excited and scared at that same time.  We could possibly going into debt again!  We plan to use some of the equity of our home to finance the business and perhaps we won't need to borrow at all.  If we do, hoping it is not a big amount! 

I have a call today with an organization in the Nelson area that helps people do up business plans, research etc (non profit and services are free or low cost).  They will be able to give me some info for the area as well as they hold web classes etc.  If our research shows that yes, financally we can move, than we are aiming for spring time.  Of course that could change depending on what we find out. 

Sandra

 

iVillage Member
Registered: 11-14-2008
I don't want to stomp on dreams. I just wanted to point out that we kid around here that BC means bring cash. The cost of living there is higher for sure so when you are budgeting please keep that in mind. A franchise is exciting! I often wonder how much Tim Horton owners make. That place is always busy! I love small towns. They are a great place to raise kids. Good luck with your plans.
Community Leader
Registered: 08-25-2006
If I ever win the lottery, I want a house on the beach and a cabin on the river. :smileyhappy: Not that I don't like lakes. Heck, if I win the lottery why not...a cabin on the lake, too.
Serenity
iVillage Member
Registered: 03-15-2012

We really like the Kootney lake area.  I love the west coast too.  All those HUGE trees!  Right now in the prairies. .not alot of trees happening! LOL

For whatever reason we love it there.  We spent 4 or  5 days camping in the area and left to travel elsewhere.  We spent one night away and looked at each other and both wanted to go back and camp in the same area so we did! 

We both want to live there now and so do our boys.  They both say they would miss their friends but would love to live near a big lake.  We don't have big lakes where we live now.

My dream ultimately would be to have a home lakeside.  The vision I have is to be able to pour my morning coffee, walk outside a few steps to the beach and sit down in a chair, sink my toes into the sand and sip my coffee as I look out over the lake :smileyvery-happy:

iVillage Member
Registered: 03-15-2012

Marie,  I didn't mention it before but when I said my dh works in the industry he actually works for an existing franchise owner.  My dh started from the bottom up and is now in management (it is a cleaning company with various divisions - from janitorial franchise, commercial cleaning (floors and carpets for businesses), house cleaning, residential carpet cleaning etc and each division is a seperate franchise.  We are interested in the janitorial and commerical cleaning division (we can buy both together and save $$)

He knows a lot about how the company (head office) operates, certainly knows the how to's of the actual work side, customer service etc.  We would only need further training on the managment side of things as DH has all the other training and qualifications he needs (believe it or not there are many couses on how to clean carpets - lol). 

To add to- when I say we are one step closer - is because we both have a sense of commitment to make it happen.  Before it was a"dream" but not a concrete goal.  Now, it is goal - to move to the area - and we will investigate other options. 

Sometime in Sept (if dh can get the days off we want) we are going to go to the area, contact a realtor to see some houses and businesses for sale in the area.  Check out the neighborhoods and towns in the area etc to get a feel for the place.  We already know we love the area where we go camping but not the same as living there.  There is a lot of research to do for sure!

I appreaciate everyone's advice.  Also, to add we have two sons ages 9 & 11.  I like the idea of helping out a elderly couple as you suggested but with two active kids don't think that would work but I would certainly be open to any ideas.  We are trying as much as possible to think outside the box.  DH even threw out the idea that we move (sell our house and buy there) and he rent a room here and keep working until something comes up to buy the right business.  He could arrange to work 3 weeks on,one week off (putting in more hours so make up for the week off).  Logistically we both know that is NOT what we want but we have thrown out lots of ideas at each other.

Sandra

iVillage Member
Registered: 03-15-2012

Good to know about asking about franchise territories!  We feel confident in the company but still have LOTS of reserach to do for sure!

Sandra

iVillage Member
Registered: 04-08-2008

I am born and raised in BC - I know this province quite well. I have mostly lived in the greater Vancouver area but spend a large amount of time in the Okanagan.

I believe the BC housing market (and AB) is in for a market correction in the next year or so. If you'd like info on that, I can forward some research and local news. Obviously places like the Caribou and Kootneys had less expansion and thus will have a much smaller contraction.

The film industry has been stagnant with a small contraction as CA starts to become cheaper and BC's tax cuts are making less of a difference. The natural resources are pretty steady - I was pleasantly surprised by this as much lumber is used in the US and I would have thought the recession in '08 would have had more of an impact. Communications industry has been stable as well - with most of the layoffs for those companies in ON. Radical just went out of business, but the larger ones like EA & Disney in the OK still expanding slighter.

Tourism has grown with a new sport tourism industry showing a 34% increase in revenue of the last 5 yrs.

I guess I could ask - what specifically are you asking? Yes, owning a business is way better than trying to find a job. Smaller communities are very difficult to find DECENT paying jobs. DH and I are considering moving to the OK-Silkameen region - our only concern would be the opportunities for our children as they are young. We are positioned for his work to be transferrable and possibly mine - tho I could downgrade my position if need be.

Good luck and definitely keep us posted!!! This is super exciting!

Dee

 

iVillage Member
Registered: 10-01-2009
Hi Sandra...

I too adore BC and plan to retire there for six months a year and the other six months in New Mexico.

I love Vancouver Island best and am thinking of Ucluelet or Campbell River. Whereabouts are you thinking?

I have sixteen years before i retire at 57 but I can't wait to move there. I try and get there at least every two years.

Duke



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