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so i sold the shop

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  • #1

    so i sold the shop

    as some of you may know i own(ed) a shop specializing in classical music.

    whilst we were turning an OK profit, we were not doing massive numbers - last year for example we did about $2500 in profit. good numbers, but as i said not exceptional.

    i was contacted a little while ago by another retailer wanting to know if i was interested in selling.

    i was a hard decision, as i have put alot of time, effort and money into the store, as well as being friends with alot of the regulars. as a plus i was starting to stress quite badly about turning profits and paying the bills.

    i have also wanted to get out of retail for a while and follow my passion - child care

    the money they offered though would be enough to cover all the debits outstanding of the shop, plus net me a good profit (7 figures ) - on the condition i don't open a competing retailer in the next 3 years

    as part of the deal i have guaranteed part time employment for the next year whilst we transition to the new owners

    so i will be slowly phasing myself out of the company, and taking my big fat cheque with me. i plan to have a nice holiday and than study child care form the middle of the year
    Last edited by Casino Jockey; 01-07-2013, 02:47 PM.
    The mere fact that we have the flamethrower means that someone, somewhere once said "You know, I'd really like to set those customers over there on fire, but don't possess the means to do it"
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  • #2
    Congratulations! That must've been hard but I'm sure you will be happier in your new profession. Good luck!

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    • #3
      Congratulations and good luck!

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      • #4
        I'd say any profit that involves 7 figures is pretty damn good. Depends on what your salary was as owner of the store, but that should give you quite a cushion to study without specifically needing to work and find a job without rent hovering over your head.

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        • #5
          Quoth Hanzoku View Post
          I'd say any profit that involves 7 figures is pretty damn good. Depends on what your salary was as owner of the store, but that should give you quite a cushion to study without specifically needing to work and find a job without rent hovering over your head.
          well i'm lucky in the fact the majority of the profit was for the goodwill - the name and reputation of the business.
          i spent a number of years cultivating the business and getting known through the classical music community of Australia.

          i plan on buying a new car, flying to london to finally see my team play live (Go the baggies!!) and taking my wife and daughter to disney before i study in july.
          The mere fact that we have the flamethrower means that someone, somewhere once said "You know, I'd really like to set those customers over there on fire, but don't possess the means to do it"

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          • #6
            Quoth Casino Jockey View Post
            well i'm lucky in the fact the majority of the profit was for the goodwill - the name and reputation of the business.
            i spent a number of years cultivating the business and getting known through the classical music community of Australia.

            i plan on buying a new car, flying to london to finally see my team play live (Go the baggies!!) and taking my wife and daughter to disney before i study in july.
            Sounds like you have a good bit lined up, enjoy!
            EVE Online: 99% of the time you sit around waiting for something to happen, but that 1% of action is what hooks people like crack, you don't get interviewed by the BBC for a WoW raid.

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