Hello,
(I have put this in chat but haven't had any replies yet and am desperate for advice - hope that is ok?)
Sorry if this is long but I am desperate for a solution. I have got myself into a terrible problem workwise and would be grateful for any advice.
I had been doing my previous job for 15 years, it was a job that I had mainly enjoyed and was good at but the last year became intolerable, there was a major restructure at work and the work I had always done was taken away, my post deleted and I was ring-fenced for a job I didn’t want - being managed by someone who I didn’t like. I got the job but really didn’t want it and left. Not before I had sorted something else out though. A year or so earlier my Dad had died and had left me with a significant amount of money, enough that I could have left my job without anything to go to and taken my time finding something else. Instead I listened to a lot of other people including my boyfriend (none of whom knew the full story such as how much my Dad had left me) who advised me to have something to fall back on. So I did what they advised me to do and got something else.
What I did was buy into a franchise, it only used a small part of my Dad’s money and was related to my previous field so I thought it would be good. I now realise that I have made a terrible mistake. I don’t like doing it, there are parts of it I hate, I miss working with other people and I am not making any money yet. I know that businesses take a while to grow and I think this one would/will eventually become profitable but I just don’t like it.
The problem is I can’t get out of it easily. I have signed a five year contract and if I want to get out of it the only options are: to sell it – but it hasn’t been going long enough to make this likely, to pay the franchisors £20,000 to get out and lose my initial investment, to employ someone to manage it (retaining enough from the profit to pay my franchise fees of £10,000 per year) or to employ someone to do the bits I hate. My boyfriend (who now knows my full financial situation) thinks I should either employ a manager or someone to do the bits I don’t like – if I do even some parts of the business though it would be difficult for me to find another job as the business is very time-consuming.
I just don’t know what to do, I want out – but I will have wasted a lot of my Dad’s money if I throw the towel in. I also feel that my boyfriend, much as I love him is skewing my judgement. We are meant to be buying a house together and are due to put our houses on the market in a month or so. The initial idea was that I put in more than him (as I could afford it due to my Dad’s inheritance), I don’t feel comfortable with this as I want the money to potentially cushion me from this situation. He is ok with that but encouraging me to keep at the business for at least another year.
I am tempted to just pay my way out – I wondered what people think – I know it is a crazy situation but how can I get back to a similar job to one I was doing else? And in what order can I do it? If I pay my way out of the franchise I won’t have a job to go to but if I get a job first, it could take ages to sort out the franchise which would be difficult to manage with a new job and how can I deal with potentially moving house with all this on my plate? I just want to bury my head in the sand and make it all go away…
Mumsnet has not checked the qualifications of anyone posting here. If you need help urgently or expert advice, please see our domestic violence webguide and/or relationships webguide. Many Mumsnetters experiencing domestic abuse have found this thread helpful: Listen up, everybody
Relationships
help - desperate work situation
changedmyname12345 · 05/07/2015 23:13
This reply has been deleted
Message withdrawn at poster's request.
Don’t want to miss threads like this?
Weekly
Sign up to our weekly round up and get all the best threads sent straight to your inbox!
Log in to update your newsletter preferences.
You've subscribed!
To comment on this thread you need to create a Mumsnet account.