Selling my business

[riggergreg]

At the end of the month, The business I've spent the last 5 years setting up, will belong to someone else. I'm taking some time off and taking a nice leisurely trip across the US to find another place to live and start up a new business of some kind. I have no idea what or where. I figure I'll know when I find it.

Anybody else ever just say screw it and find a place to start over, and how did it turn out??

I have done this before, so I'm really looking forward to it

[Jupiter Beach]

What kind of business are you in?
My advice is to pick somewhere warm (ie: not Canada).

I did something similar a few years ago.

I graduated high school a semester earlier than the rest of my class, and went to live in Florida for a few months.
It was definately an adventure... I went down there with about $100 in my pocket and no real plan. I stayed with friends for a few days, then I found a job (riding horses) and a place to live (sharing an apartment on the horse farm with the guys who worked there).

It was a great experience, I really miss Florida (especially Jupiter Beach). I'm planning to go back there in April when I graduate from university.

Good luck with your adventure, Greg!

[CharlieO]

I've been an independent businessman (stockbroker/booking agent) for many years. My wife and I were sick of midwestern winters, so we packed up and moved to Sarasota, Florida. I was able to relocate my business, and I've got a new venture as well.

I've made career changes quite easily in the past, but this is the first time I have made a major long-distance move. It was a piece of cake. If you are an entrepreneur, you'll have no problem.

[Anonymous]

Right after I'd graduated from high school, my brother and I had some friends who had inherited some money and had decided to move to Australia. A few drunken nights spent around their kitchen table convinced both them and us that it would be a good idea if the two of us tagged along. I went to college there for a year (U of NSW in Sydney), then wound up playing in a band that made an album for RCA, played some pretty big concert dates, and I had some experiences that I'll treasure forever. ;-)

Some years later, just after I'd gotten married, I convinced my bride that we needed to get away from the Beltway traffic and inside-the-Beltway mindset of the DC area and move to Austin, Texas. Once again I wound up playing with some amazing people, stayed there nearly seven years, made some lifelong friends, and generally had myself another "excellent adventure."

So yeah, I've "jumped ship" a coupla times. ;-) One thing I did discover, though, was that wherever I went, I took "me" with me – warts 'n' all. :-\ Or as I heard it put years ago, "Wherever you go, there you are." ;-) Have fun, CS :-)

[TheGoodTexan]

I've never owned my own business, but I would really like to do that some day. I've got several ideas, just no money. I make the really good smoked meats and BBQ, and my wife thinks that people would be willing to pay for them at a resturant. Who knows...

BUT - I have picked up and moved and started over three times in my life. Once when I was 20, I moved from Texas to Arkansas by myself, with just what I could fit into my old Honda.

A few years of Arkansas was enough for me, and me and my roommate picked San Diego off a map and moved out there for a short time.

A few months later, I packed up my old Honda one more time and landed here in Nashville.

Each move consisted of one or two guitars, a small amp, a suitcase full of clothes, and maybe a $1000 cash. I didn't know one person here in Nashville when I got here, but it didn't take long to fit in with the 40,000 other musicians in town!

[Sarge]

I did alot of that back in the 60's and 70's. It was cool just stoppin' where you felt like it. People have changed alot, be carefull. I've been thinkin' bout the Outer Banks alot lately. Who know's. Good Luck!

[telemike]

I guess because I've never done it, the only time I relocated was to move here for college and ended up staying, but that just seems like a hard thing to do. Of course, everytime I hear a song by Buffett or Kenny Chesney, I want to sell everything and pack a bag and move to a tropical location. I couldn't do it unless I left my wife though, because she has diabetes and we couldn't get by without insurance. :(

[TDPRI]

Yes!

I started my own busines in 1987 with $200 from the family check book. I sold it two years ago after grossing tens of millions of dollars over the previous 15 years. (NOTE I didn't get tens of millions the business did.) I sold it to an employee for what most folks would describe as a serious amount of money.

The next day I started a new business doing the exact same thing.

First, it was great to have the burden lifted. No more employees, no more overhead. My monthly overhead was about $30,000 so every month for 15 years I had to earn $30K just to break even. It was great to not have that burden.

But taxes took a huge bite out of the sale money, and then the lawyers and accountants took their share and it was evident that within 2 years that cash would be gone so I'd better get my tail in gear and earn some more.

It's been much harder "restarting" than I ever expected. My non-compete agreement limits my ability to get new clients and things just seem different in my market.

Looking back on it, I think I could have restructured my existing business and done better in the long run than I did selling the business. But at the time, the lump sum of cash, and the promise of relaxation (that never really came) made it look like selling was so wonderfull it was silly.

About relocating, we moved from San Antono, TX to Jackson Hole, Wyoming 4 1/2 years ago because Jackson Hole was our favorite place in the world. But we've never been happy here and are in the middle of planning a move back to Texas as I write this. We'll move back this summer.

Would I do it all over again? Well, if I knew then what I know now probably not. But I don't really have any regrets about any of this either. It's just another chapter.

Paul Green

[petebradt]

Paul, what was it about Jackson that you didn't like? I'm curious because I remember you being ecstatic at the time of the move.

[jhundt]

I just keep on doing that. That's why I'm in Holland now - painting houses again! But not for long.... I think we're gonna pack up and head for Spain next year.

I've been doing this since I got out of high school in '72. I guess I just can't seem to get settled. Moved to Spain, then England, back to California, back to England and Spain, back to Cal, back to Holland, on to LA, back to the Bay - got stuck for a while trying to raise a kid (at least we moved 7 times to keep in practice) now back in Holland.

I like it like this, but you wouldn't say I've set down any roots or established myself anywhere. I guess we're just blowing in the wind....

[Dana]

If I ever get the courage I'd like to chuck it all and move to Europe.

[Jakedog]

I moved around alot in the past, it keeps you from getting bored, that's for sure. I only lived in another country when I was small, (my dad was military) but I lived all over this country from the time I left home at seventeen, until I was twenty six. The wife and I are in the beginning stages of planning a move to Austin, and until I can buy my island, that will probably be my last stop for at least 20 years. My dad and mom raised me moving all over the planet, and in retrospect it wasn't that cool. Every time I made a friend I had to leave them behind a few months later, and I never really learned how to be part of a group of friends or other community setting until I got married and moved to Cleveland 6 1/2 years ago. I have two kids of my own now, and want them to grow up with some feeling that they have a "home". If it weren't for them though, I would definitely still be out there in search of new adventures. You can bet that once they're old enough, I will highly encourage them to do just that! Good luck to you, and have fun.


Jake

[Michael R]

Originally Posted by riggergreg

Anybody else ever just say screw it and find a place to start over, and how did it turn out??

Twice and each time it got better. I have not made long distance moves though, after years of traveling all over the place I pretty much know where I want to live.

[Kingtone]

This place is in my home town (Syracuse), the food is amazing the music straight ahead blues, and its packed every night. http://www.dinosaurbarbque.com/

[LarryR]

I was living in Manhattan and needed to get away (from myself mostly) so I sold a 62 strat and a 71 twin for $500 (there's something to lose sleep over these days) packed up a suitcase and moved to Los Angeles to find fame and fortune.....still looking. But what I did find was a way of life to be able to live with myself, a beautful Son and the greatest Wife on the planet(IMHO) so all in all it was the "Best Move" ever. Having said that me and the MRS. are looking at new places to go and slow down a bit, as we slow down.
Also did a year in Woodstock,Vermont, 3 years in the mountains of UpState NY near Woodstock, NY and a year in Tucson,Az. All with fond memories.

[e-merlin]

Well, I took over a business and soon found out I was a poor people manager. If I ever have another business it will be one where I can do it all myself.

After about 6 months of nothing but bad experiences (I worked for the guy I bought it from for 3 years and enjoyed every minute of it) I shut her down and moved the family up here to Sioux Falls for several reasons, mostly there was no suitable work for me back home and a friend up here offered me a job.

Several jobs (and 3 years of part time employment and unemployment) and 8 years later and I finally feel like I'm going somewhere. It took a while, but I feel more like I've found my place in life.

So, yeah, I've chucked it all before. Just took me a while to get where I was going.

[e-merlin]

Oh, yeah, good luck in your new adventure, whatever it may be!

[grito]

My wife and I had a great opportunity to start new in Phoenix, Arizona. We converted our Cali house into a rental, the wife could stay at home, we had the child we always planned for but never thought we could afford to raise the way we wanted to... Best decision we've ever made.

[moondoggie999]

You already have the right attitude. Enjoy! Smile, relax, take a guitar with you and have a look around and see what you can see.

I quit a union job with benefits etc that was sucking the life outta me. My wife was furious but I couldn't take one more flippin day with the way those people treated me.

I had no idea what I was going to do. But then it was of course right under my nose. I had been teaching guitar part time and after a few days of sitting around the house, I decided to go full steam ahead on the guitar lessons business and it has turned out beautifully. Rocky at times for sure, but one of the best things I ever did. For me and for my family.

Quite an adventure working for yourself and supporting a family at the same time!

Keep your eyes open for things and places you haven't thought of yet, but also be aware of what might be right under your nose.

:-)

[Rob Rent]

I was 22 or so and living with my parents (in Baltimore, Maryland) when a temporary job came along in Texas....I went for the fun and adventure...while I was there I was offerred another temporary situation...and another and another...I met this little blonde girl and she somehow got pregnant....almost 20 years flew by...during which the little blonde girl and I had gotten divorced (shortly after our 3rd child was born)...at 32 I decided to go to school and become a lawyer...even though I was making a great deal of money at the freelance artist situation I had been in all my life....Just before I turned 36...one year to the day after my Dad died...My second wife was killed in an automobile accident..and EVERYTHING changed.....I bought a new motorcycle and just sort of drove around for about a year or so......when I started to get myself together again I just gave away a bunch of stuff and loaded the rest in a truck and came back to Baltimore......But I hadn't been in Baltimore very much in all those years and it really wasn't my "home"....I went to work for a friend a mine in his tattoo shop and after about a year I opened my own place which I kept for a few years (until I got tired of my landlord)...now I'm back to freelance cartooning and playing guitar like I was when I lived about 15 miles away from here 25 years ago with my parents......I'm currently very happy with my other half here and we're thinking of leaving the area....why?....why not?

[Scotland]

All the very best of luck, I hope it all works out for you. I'm pretty sure it will, you seem to know what you want and how to get it.
Good luck.
John

[TELEJACKER]

While I've never really picked up and moved a long distance away(too much of a home body), I too own my own business and I have thought several times about selling and finding something else to do. I'm an exterminator so what I do is pretty repetitive and gets a little boring. And while I am a pretty good people person, I do get a little tired of dealing with the public sometimes.

But then I stop and think, man I've really got it pretty good. I own my own business, have a beautiful wife and 4 year old daughter, nice home, and I play in a band. When I look at it from that perspective, life ain't too darn bad.

Guess I should say that even though I do get tired of dealing with the public, I try never to forget that without them, I would have none of these things that I mentioned above, so they get treated with the utmost respect.

Well, time to go take my daughter to a Halloween carnival. Life is pretty good!!!

Good luck in whatever you do!!!