IMAGINE quitting your high-powered job to launch a thriving enterprise that turns over virtually £80,000 a 12 months – sufficient to be financially impartial?
Properly that’s precisely what mum-of-three Vicky Quirk, 43, did when she ditched her position at a finance agency to promote pies from a transformed caravan.
She had labored within the business for six years total – together with three years at worldwide agency KPMG – when she determined she needed to be her personal boss.
Although Vicky, from the Isle of Man, admitted her highway to success has encountered just a few bumps.
She instructed The Solar On-line: “I simply hated working in an workplace. However I had a snug wage, a non-public pension plan and personal healthcare after I left.
“So, I did really feel like I used to be risking rather a lot financially.”
A passionate cook dinner, Vicky admitted that she at all times liked the adrenaline of being within the kitchen.
She stated: “I labored as waitress after I was a young person. I feel there’s simply one thing particular about individuals who work within the kitchen.
“I like the truth that you’re employed tightly as a crew to tug one thing unimaginable off in a brief house of time.”
Tips on how to get a start-up enterprise mortgage
IF you want monetary assist in establishing your corporation, you will get loans of as much as £25,000 to assist alongside the way in which.
- Virgin Begin Up affords government-backed loans from £500 to £25,000 to assist entrepreneurs launching or rising a enterprise that’s below two years outdated in England or Scotland. It has a fee of six per cent curiosity.
- The Begin Up Loans Firm, which lends authorities subsidised loans of as much as £25,000 at a fee of six per cent.
- The Prince’s Belief additionally affords loans of as much as £5,000 at a fee of 6.2 per cent.
She began Betty Pies with a £3,500 grant from the government-backed Begin-Up Loans Firm, which affords a six per cent fastened fee on borrowing as much as £25,000.
And enterprise has grown significantly since she first launched it 5 years in the past, with turnover growing from £18,000 in 2014 to a snug £76,000 final 12 months.
Vicky now makes round 300 pies every week, promoting them for £4.50 to £eight a pop, and caters for occasions together with the TT races, which sees 45,000 individuals descend on the island for the 2 week interval.
The pie fillings are made utilizing native substances, together with meat from the six-horned Loaghtan sheep that are native to the island.
The cheese within the macaroni cheese pies is Manx Cheddar from the island’s creamery.
Vicky stated doesn’t remorse the choice to launch her firm – although she’ll most likely by no means handle to match the wage she had in her earlier job.
“I don’t earn as a lot as I used to, however I’m in command of my very own life,” she stated.
“I’ve extra flexibility and I’m at all times dwelling when my children are again from college.
“Final 12 months, we simply went 4 weeks in Bali. We’re planning on doing one other huge journey this 12 months. This is able to have been inconceivable in my earlier job.”
Companies on the island pay zero per cent company tax, zero per cent stamp responsibility and nil per cent capital positive factors tax – an vital consideration for a younger enterprise proprietor seeking to begin up one thing.
The Isle of Man Authorities additionally launched a scheme price £300,000 of grants for small artisan meals companies.
Vicky stated: “Quite a lot of new producers are popping up across the island, which is thrilling, however it additionally signifies that I’ve much more competitors!
“That’s why I’m discovering the choice to increase so tough. I wish to progress, however one step at a time.”
The Solar On-line additionally spoke to cousins who give up their high-flying jobs in London to launch their very own popcorn enterprise.
We additionally interviewed Mechelle Clark, who launched her personal toastie enterprise after being made redundant twice.
Bored of your present job? This dad-of-two give up his banking job to arrange youngsters’s hairdressers and it now makes £650,000 a 12 months.