What to do??

Well i had a bloke come into the shop today who has been sacked by the company his family sold about 6 yrs ago and he was wanting to know if my business is for sale as he would like to keep doing work in this business, i had a chat and he needs financial backing from the family to be able to do it but i am contemplating selling up as in a couple of yrs i will be looking to retire, i said to find out about the money side and we can talk turkey, i would be willing to stay on for a while prior to hooking up a caravan and heading off but part of me says yes but part says wait as i feel responsible for the other staff and jobs etc. I would love to be able to head off and its what i have been working towards but i still have reservations, i guess i just need to do it if the money is right.

Sounds exciting Stropp,

Opportunities like this dont come along every day, so there is a bit to think about......

I dont want to sway you either way, but there is a lot of good driving to do in Victoria.:hpfredgeorge1:

Mic

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Originally Posted by happygtu

Sounds exciting Stropp,

Opportunities like this dont come along every day, so there is a bit to think about......

I dont want to sway you either way, but there is a lot of good driving to do in Victoria.:hpfredgeorge1:

Mic

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X2 the hardest part about selling a good business is finding a good buyer with the right money! Will the business be worth more in 3 years than it is today? (I have no idea) if not then selling now is early retirement and happy days!!

Do it Stropp. If the monies right. You won't regret it. There is a lot of beautiful country to see. I'm currently travelling Australia and am living every minute of it. I sold my business to do it. I'm only 32 so can't quite retire yet. Lol

Yer a LONG TIME dead Stropp !! no caravan parks and 4x4 tracks where we end up mate!!
Cheers, the ferret.

Sometimes opportunity only knocks once.
Anyway, who doesn't want to retire early. Lol

I'm sure you will make the right decision mate after thinking this throughly through. As the guys have said, when opportunity knocks....

IMHO it is a no brainer.

If the money sorts out then do it, mate...

One thing I have always tried to live by is "Never die not knowing" so whenever an opportunity is there I grab it with both hands.

On rare occasions over the years it hasn't been the right decision but 99% of the time it has and I've only ever learnt from the ones that went pear shaped anyway so I've never had any regrets... maybe some ups and downs but no regrets.

A very hard decision to make but if you can retire and have enough to survive on then do it
Retirement only lasts a short time as does health and if you have a dream to do things do them now
I retired a couple of years ago and have found that time is flying past and some of my dreams on the bucket list wont happen due to health and other unsuspected problems.
I understand your thoughts about your present staff but you will be forgotten when your gone.
If I could go back I would have retired 3 years earlier than I did but I like you felt responsible for my customers as I was a 1 man show.
Remember We are here for a good time not a long time
Think long and hard and good luck with which ever way you go.

Gut feeling, They are generally right

you've got to do what you've got to do old mate, just wait until I can get myself organised for a wood fired heater first!!!! hahahahaha

dont worry about your staff Stropp, either they will get on with the new bloke or not everyone runs a business differently and you have to look out for number 1 nowadays so if it all looks good then do it if not then something else might come along or one of your workers might want to take it on who knows...

if it were me if the moneys good and your happy then do it

Early retirement Stropp,gotta be lovin that,nothing feels right when your not sure so you may just have to do it,ya never know unless ya give it a go.

Good luck mate.

G'evening Strop,

Our moto in the Commandos "STRIKE SWIFTLY"

Just do it mate and enjoy your life!

Kind regards,

RLI

Without a doubt if I was in a position to retire early I wouldn't think twice like shit off a shovel I'd be gone ...........unless I really really loved my job so much that every day I was up early champing at the bit to go to work

Part of my parents retirement plan was to sell there very successful small business. They found it very difficult and took many years before doing a deal. It actually almost got to the point of closing up and just walking away.
If you have interested parties already only a few years early, I would be jumping at the chance.

I guess you never no what the future holds my dad retired at 55 spent the next 10 years doing volunteer work through his lions club and sail ability for the disabled , which he has no regrets , he and mum got themselves a new van and ready to travel , at that same time mum was diagnosed with alzimers , which has accelerated quickly in the last couple of years and while they still get away for a couple of weeks here and there it becomes a lot of work for him , like I said you never know what the future holds and if the right opportunity comes up at the right time in life , run with it

Steve

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Originally Posted by the evil twin

IMHO it is a no brainer.

If the money sorts out then do it, mate...

One thing I have always tried to live by is "Never die not knowing" so whenever an opportunity is there I grab it with both hands.

On rare occasions over the years it hasn't been the right decision but 99% of the time it has and I've only ever learnt from the ones that went pear shaped anyway so I've never had any regrets... maybe some ups and downs but no regrets.

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Yes ET that's why I ended up with the business in the first place, gave up a very well paying mining supervisor job to take it on.

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Originally Posted by Clunk

you've got to do what you've got to do old mate, just wait until I can get myself organised for a wood fired heater first!!!! hahahahaha

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Don't worry mate If I do sell I will be there for 6 to 12 mths on wages training him or the new manager up so will be able to do you a deal, ps if you are in the position I do have one Saxon Blackwood that I can do a deal on, I get one to cover costs of going to Sydney each year and sell it to recover costs only to a good customer.

Thanks guys I had all but made up my mind to sell if the money is right and has been said when I'm ready the sale may take up to 3-5 yrs so if he is not all talk I may be heading east, north, west and south sooner rather than later.

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Originally Posted by Stropp

Don't worry mate If I do sell I will be there for 6 to 12 mths on wages training him or the new manager up so will be able to do you a deal, ps if you are in the position I do have one Saxon Blackwood that I can do a deal on, I get one to cover costs of going to Sydney each year and sell it to recover costs only to a good customer.

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Cheers Stropp, will be in touch. Just working on something at the mo :D

DO IT, TAKE THE MONEY AND P!SS OFF...
Mate as soon as my youngest son leaves home I am gone as well, keep dropping the hint but he is still here..LOL

You are in business so everything should be for sale at the right price.
Yes, the responsibility you feel to staff is commendable and you can take steps give them adequate notice or transition them to a new employer.

At the risk of being negative. I would not rush to show someone my books without a bit of legal paperwork in place. They may be a competitor or considering becoming one.
That doesn't stop you from naming a price and seeing how serious they are though.

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Originally Posted by Figjam

You are in business so everything should be for sale at the right price.
Yes, the responsibility you feel to staff is commendable and you can take steps give them adequate notice or transition them to a new employer.

At the risk of being negative. I would not rush to show someone my books without a bit of legal paperwork in place. They may be a competitor or considering becoming one.
That doesn't stop you from naming a price and seeing how serious they are though.

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thanks for the advice Ewan. cheers

Well, youngest son may be moving out in a months time Stropp....................we may both retiring this year mate
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Originally Posted by Doggy

Well, youngest son may be moving out in a months time Stropp....................we may both retiring this year mate
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Lol doggy.

Hi Stropp,

Just read this post, I can't wait to retire but can't afford it. As I work for an employer the decision may be made for me shortly.
If the price is right go for it, you never know what's around the corner. My brother in law built up a successful business with a view to early retirement, unfortunatly he had an unexpected heart attack and died at work at 49. Other brother in law has seen his business deteriorate and reduce due to cheap imports to now be worth 25% of what it was 10 years ago. He worried about his staff and kept many on well past a realistic time due to loyalty. Now he's unwell with a business that isn't worth selling when he should be enjoying retirement.
All the best with whatever decision you come to.

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Originally Posted by Apollofish

Hi Stropp,

Just read this post, I can't wait to retire but can't afford it. As I work for an employer the decision may be made for me shortly.
If the price is right go for it, you never know what's around the corner. My brother in law built up a successful business with a view to early retirement, unfortunatly he had an unexpected heart attack and died at work at 49. Other brother in law has seen his business deteriorate and reduce due to cheap imports to now be worth 25% of what it was 10 years ago. He worried about his staff and kept many on well past a realistic time due to loyalty. Now he's unwell with a business that isn't worth selling when he should be enjoying retirement.
All the best with whatever decision you come to.

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Thanks mate, I haven't heard from the bloke so I think he was just wishfully thinking, I'm not going to chase him as he will think he has me on the ropes and want the business for nothing. If he comes good well all the better but I'm not counting on it.