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  • I'm a mix of emotions right now.

    Well, it's a crazy emotional day for me. I'll try to explain over my beer.

    I've been in the restaurant business for a long time, and have turned it into a very profitable business.

    Back in 2007 we bought the gas station attached to the restaurant. If you remember correctly, that's when the shit hit the fan with the economy and real estate prices. Gas prices also went through the roof. we busted our asses. I took a 25% pay cut in 2010. Business partner pumped in a metric shit ton of money into the gas station. we've struggled, but ALWAYS, paid our employees on time. And if you've read my Lazy Ass thread, you know the shit that one really bad employee did.

    Well, things finally reached a head this year - if we continued to operate the gas station, it WOULD bankrupt us. I might have been able to pump some money into it by selling off a family herilum that's been in the family for over 150 years. That would have killed me, and my dad, who gave it to me several years back would have, rightfully so, been totally pissed at me.

    We had to give up ownership of the station to the former owner of the station. tonight we did the inventory. busted our balls to get it done. now it's all over.

    I'm a mix of emotions. I feel like a total failure for not being able to make it work. I'm sad. I'm also happy in a way. the future could be very bright. the personal debt I've already accumulated could be gone in a year or 2 if all goes ok. I might be able to afford a house in a few years.

    As I sit here at the bar, finishing my beer I'm trying to not put a teer in my beer.

    Thanks for your patience with my rant.
    "Life is tough. It's even tougher if you're stupid" Redd Foxx as Al Royal - The Royal Family - Pilot Episode - 1991.

  • #2
    Please don't think of yourself as a failure. You did make it work for a good while, and the fact that it eventually hasn't is no reflection on you. Yes, you could have maybe sold the heirloom and boosted things that way, but there comes a point when you're just throwing good money after bad. You didn't screw those who worked for you, and you have had the good sense to let it go before it dragged you under.
    There's a lot of millionaire businessmen with more than one 'failure' under their belt. Next time you get an opportunity, you'll have plenty of experience and valuable lessons learned. Good luck.
    Engaged to the sweet Mytical He is my Black Dragon (and yes, a good one) strong, protective, the guardian. I am his Silver Dragon, always by his side, shining for him, cherishing him.

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    • #3
      The way to avoid failure in business is to know when to walk away. You did so before it ruined you. Therefore, you did not fail-the business just didn't support itself.

      Over the years, I have run a graphic and web design firm, I had a concert production company, I owned a watch kiosk in a mall, and I ran a catering business. While none of them were the runaway successes I had hoped for, I don't feel like they were failures; the businesses made enough money to support themselves for a while. I just recognized when they were no longer doing so, and chose to walk away from them instead of running them into the ground (and having them drag me down with them).

      Good for you for recognizing this, and doing the same.
      "She didn't observe the cardinal rule: Don't F**K with people who handle your food"
      -Ryan Reynolds in 'Waiting'

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      • #4
        congratulations you made the decision to not bankrupt yourself on a failing business, you made the decision to not sell off your family history.

        You are officially smarter than most people on dragon's den.
        Interviewer: What is your greatest weakness?
        Me: I expect competence from my coworkers.

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        • #5
          I echo what everyone else has said. Definitely not a failure. You made a good run of it and I'm sure employed several people in the time you had it. You helped all those people support themselves and their families. If your company goes bankrupt and has to close think of all the people that would be hurt. It's better to do what you do best and be a good strong company so your employees can continue to rely on you.

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          • #6
            If anyone was a failure it was your partner. Keeping a useless employee to drain your budget. You did everything you could, you worked yourself to the bone, now let go. Accept the gas station wasn't meant to be yours forever. And congratulate yourself. You made it work for longer than I believe most people would. You learned a lot more about what you can do, and what to look for in employees. And you would most likely not stand for another Lazy Ass. So imo, you came out a bit ahead.

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            • #7
              Sorry, had to link this.

              Anyhow, you failed nothing. Your business partner failed you. All selling the family heirloom would've done is delay the inevitable.
              Knowledge is power. Power corrupts. Study hard. Be evil.

              "I never said I wasn't a horrible person."--Me, almost daily

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              • #8
                Thanks everyone. I really appreciate the good thoughts.

                Today was surreal. I was driving into work at the restaurant, and saw that the gas prices were higher than across the street. I thought "well, better get in there and get the prices changed..... oh, yeah, not my station anymore."

                Called the new owner and changed the prices for him. It's going to be a very weird transition indeed.
                "Life is tough. It's even tougher if you're stupid" Redd Foxx as Al Royal - The Royal Family - Pilot Episode - 1991.

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                • #9
                  It's hard pushing toward impossible for anyone to make money selling gas - that's why you see so many big c-stores with 16-32 pumps these days. This business may not have made money under your direction, but you got out alive and without a bankruptcy.

                  You win.
                  Life: Reality TV for deities. - dalesys

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                  • #10
                    You didn't fail, the business did. And it had nothing to do with you. No crying!!!

                    "All I've ever learned from love was how to shoot somebody who out-drew ya"

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                    • #11
                      My parents owned a gas station starting in the early 60s into the 70s. They didn't make money from gas; they made money from car repairs and the mini-mart. The gas brought people in, almost a loss leader.

                      So don't feel bad. The system is set up for the companies to make the money, not the franchisees or independent sellers.
                      Labor boards have info on local laws for free
                      HR believes the first person in the door
                      Learn how to go over whackamole bosses' heads safely
                      Document everything
                      CS proves Dunning-Kruger effect

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                      • #12
                        Today was my first shift at the station as an employee, and I did what I always did as an owner - clean. The only thing I don't have to do anymore is the accounts. That's no longer my job Saturday morning. It was kinda strange not doing them, after doing them since 2007.
                        "Life is tough. It's even tougher if you're stupid" Redd Foxx as Al Royal - The Royal Family - Pilot Episode - 1991.

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