CONNED
Part 5
All four boys were still unsure where to start when they gathered in the bedsit the next day. Nick busied himself making snacks and getting drinks while they all settled down. Then he jumped in first. He had given his father's proposal a lot of thought and made notes.
"Here is my thinking guys. We find out the cost of leasing next door. The cost of conversion and all the new equipment you will need. Feed in a percentage to take care of expenses while you get off the ground with the new facility. Think about training new staff, and cost involved. Take 50% of that and find out what interest rate the banks will want to service the loan, then we can check your books for present turnover to make sure you can cover all your outgoings. Then you will be able to make a decision about whether to take advantage of my dad's offer."
The boys looked stunned.
"Ok, it's a lot of work. We can do most of it and then engage a quantity surveyor just to check our figures."
Darren was the first one to think it through and speak.
"Let's do it. Provided you and Eddie will help and advise, Nick."
"Of course we will."
"You say that now, but if we go ahead we are going to need most of this area for stores, so you might not have enough space to live."
Nick looked at Eddie before replying.
"Let's worry about that when the time comes."
The next few weeks just flew by. Nick didn't have time to think anymore about moving home. College, study, the data entry job, (Nick decided to keep that one in fairness to the boss who had looked after him), contacting realty agents concerning the property next door, specialist installers for the spray shop and equipment. The list seemed endless. Then they had to sit down and work on a business plan. All done and the next step was Darren and Kenny taking their audited accounts, business plan and accounting details for the new set up to their bank manager to see what could be borrowed and at what rate of interest. The end of the semester came before it was all finished and Nick and Eddie started going to dinner with Nick's parents again.
"We're sorry we've neglected you the last few weeks, but it's your fault Dad," laughing as he said it to take the sting out, "Because we have spent all our free time working on the plans for Darren and Kennie's extended business. We should have the plans already to present to you in the next couple of weeks."
Parents were pleased, Nick and Eddie were pleased to be given the chance to prepare something like this and Darren and Kennie were delighted to think they were going to be serious businessmen with a business angel to guide them in the form of Nick's dad.
Nick's parents warmed to Eddie when they realised what a thoroughly nice person he was, and importantly, how happy he made their son. Yes, they would always be disappointed he was gay, but he was making them proud the way he was studying at college, the loyalty he showed to friends and his boss. The energy and aptitude he appeared to have to put into the garage business. Malcolm checked all the figures they came up with, looked over the business plan and gave his verdict at dinner one night.
"I can't fault your figures and business plan Nick. It is almost text book perfect. We don't want those two boys to go too much in debt so I am going to suggest that you stick with you present borrowing figures but let me guarantee another 100 thousand as a contingency fund."
Eddie's jaw dropped, `how the fuck much money did Nick's dad have', was his thought.
"How soon are you going to start this project Son?"
"The boys have delivery times on all the equipment, Dad, and the specialists will be available then. We have managed a deferred payment schedule so we probably won't have to use any bank money until we are almost ready to advertise the new services. We want another hydraulic lift for the main garage as well to accommodate the extra servicing we expect to do as the body shop generates more business. Eddie and I have friends in college doing media and marketing degrees and we have used them to do a plan for that side so we won't be incurring any expenses apart from the actual advertising. What we have seen so far is pretty dynamic, we think it will generate a lot of business."
"A lot of we's here, how deeply are you involved?"
Nick laughed. "Up to our eyeballs I think. Darren and Kenny take all my advice without query. Eddie works with them as well. I think that until they are generating a load of money we will be the administration and general management business side of operations while Darren and Kennie run the technical side. They will need to think about a permanent general management team then."
"So you will be losing your accommodation quite soon. Where are you and Eddie going to live?"
Nick blushed. He knew what his mother and father wanted.
"We aren't sure yet Dad. There will still be enough room for us to put a bed but not much else."
"Our offer is still open Son. Your mother and I would very much like you both to come home."
Nick could see the longing and love in his mother's eyes. She had been almost too much showing Eddie that he was a welcome addition to the family, it seemed silly to slum it when they could live in luxury. He looked at Eddie who gave him a nod.
"The week after next would be a good time Lover, don't you think. The new equipment could go straight into the storeroom until it's needed, and it would give us the time to make the unwanted space into a small conference room. A table and six chairs in there with a small filing cabinet would probably be enough for ages."
The parents beamed, "I think your mother would like that Nickolas so I guess, Eddie, you had better start calling us Mum and Dad."
Eddie teared up, after a rough start with his lover's family he was getting more acceptance and affection than he ever dreamed of from this rich white family. He had tried to get his own family to accept his sexuality but they wouldn't even talk to him. He knew Nick's dad had ratted on him but he thought his sexuality would have come out eventually so no extra damage had been done, it had just happened earlier than expected.
The summer vacation appeared to fly by. The new spray shop was finished. Darren and Kennie had faced the situation and used the old spray station to install the second hydraulic lift. Nick had been wicked and used some of the extra income he had been saving to have a makeover done on the front of the enlarged premises and paid for an eye-catching sign that couldn't be missed.
"I'll be taking the money out of petty cash soon, or maybe buy shares in the business. We should have the front concreted as soon as possible so that we have good parking for client's cars."
The move into the Adams family home had been accomplished with no trauma and Eddie found himself a full member of this generous and loving family. Transport was never a problem because the two boys were almost joined at the hip so Nick's car was always enough.
Darren and Kennie were reeling under the action, but business was already climbing, even while all the conversion work was going on. Another young West Indian mechanical wizard had joined them to help with servicing and all other mechanical work. Meeting their bank repayments hadn't even started because of some clever deferred payment plans that Nick had negotiated. Then they had to go back to college. Nick gave up the data processing job because the garage needed all of their free time. He also monitored income and expenditure like an old mother hen. Every Sunday morning they sat down in the little conference room and went over the figures. Nick had insisted on payment before collection so they had no bad debts making cash flow very positive.
Only a couple of weeks into the new semester and Darren brought up the subject of Nick and Eddie's hours.
"Kennie and I have discussed this Nick. We would like you or Eddie to set up a payroll system for us. We need to put Swagger on salary to pay all his social security commitments, the same for Kennie and me, not that we take out any more than living expenses. We have also decided that you two should be on salary for the amount of work you are puting in."
Nick and Eddie protested vehemently but Darren won.
"Without you two we would be where we were six months ago, now look at us, in debt up to our eyeballs."
Everybody laughed.
"Seriously Nick, you know better than us how well the business is doing, you have to be paid, it's not fair for you to work for nothing."
Nick thought about this and went to talk to his dad about it.
"If we set up a corporation proper, Dad, and issue shares we could take shares instead of money couldn't we so that the boys don't have to deplete the cash reserves."
Malcolm looked at his son and smiled.
"Double benefit there right?"
Nick looked bemused.
"Come on Son you can't have missed it. You take shares instead of money, as the company becomes more profitable the share value increases so you get more money."
Nick blushed, "I hadn't thought that far Dad, I was just trying to save the boys money now."
The upshot was that Nick put it to Darren and Kenny and told them they would refund some of the shares if they took off in value.
"No you bloody won't. If we are successful it will be down to you and Eddie in good part so you deserve the reward, and you are gambling on us succeeding, if we fail you dip out."
The set up was completed with a lot of help from Malcolm. Darren and Kennie kept 60% of the stock. Malcolm took his chunk based on valuation and using the same valuation Eddie and Nick were paid in shares.
Nick and Eddie were into their last year before getting their degrees. Darren and Kennie had built on the back of both properties to make room for offices and a new conference room as the old one became more and more necessary for stock. A secretary/receptionist was taken on and she very quickly organised a filing system that dovetailed into Nick's working practice.
"I'm going to go for the Bar, Nick. I think the boys will need an attorney in the near future so I'll specialise in company law, your MBA will be invaluable, so we can continue to help the boys."
Nick knew he would have to think about a proper job soon, and Darren and Kennie would need a general manager. The problem would be finding one who would work for a low initial salary, about the same as he would be getting as a new graduate. But the boys couldn't afford much more. Also, whoever took the job would have to give it his all because the business was still in its infancy. He explained all this to Darren and Kennie who went away to talk about it.
"If we offer it to Nick straight away he'll refuse to take the money. Let's advertise the job and co-opt Eddie to make sure Nick sees the advert. We'll get a proper agency to interview him and tell them Nick is to get the job regardless of who else applies. He needn't know it's us until he has agreed to take the position."
Kennie laughed, "Devious bastard, you reward Nick at the same time as you get Malcolm's input for free because Nick will consult him."
Darren grinned, "Never thought of that."
The plan worked, when Nick saw who his new employers were he grinned as well.
"Ok, you crafty bastards, you win, but don't blame me if I bankrupt you. You need an experienced manager.'
"Yes Nick, you're right. One who knows this company inside out and has nearly two years of running it successfully."
Successful was what it was. Nick was 25 when he declared at a board meeting that the company needed to expand.