I Give Up! (an update)
- Thread starter Brenton
- Start date
cwcad
New Normal
Gosh, I am really sad to hear this. My thoughts and prayers are with you in your hour of decision.
It's never a good feeling to have to give up on something, but it isn't the end of the world, either.Just an update: we've run out of money and steam. We may be folding up shop by Christmas. It's a tough go, but we'll see how it goes. We may have an employee who will carry it on and at least take care of obligations (rent & contracts & yellow page ad) as well as gift certificates, etc.
We'll see.
Over the years, I have been involved in two less than ideal business situations.
The first one, I did what you have been doing, battled it for a couple of years before having to give up on it. By hanging on, I managed to lose about 5 years of my income at that time.
The second one, I realized things weren't working out and managed to get out before dumping a bunch of money in it.
In both cases, I was able to get out with a clean slate and not owing anyone a bunch of money I couldn't come up with.
I did learn a few things.
After the first one, I learned to take your lumps and get out rather than stick it out that long.
After the second one, I learned that being in business for myself was not my thing.
Working for someone else didn't turn out to be all that bad.
Charles
Brenton
aka PEI Detail
Thanx for the comments folks. I appreciate all the support.
I think I've found a guy to take over, on of the guys that works with me some. I think he'll help mitigate the damage, but it will take a few months to make the transition. He would take over Dec 1, but I think I would still be helping him do books and marketing until May.
I'd love out sooner, but I just want out.
brenton
I think I've found a guy to take over, on of the guys that works with me some. I think he'll help mitigate the damage, but it will take a few months to make the transition. He would take over Dec 1, but I think I would still be helping him do books and marketing until May.
I'd love out sooner, but I just want out.
brenton
Troy@Protekt
a.k.a. Troy@DetailCity
I hope your making the right decision. What are your plans once you're free of the shop?
One more thing to throw out there. You could raise your prices and down size a bit making the business more manageable. If you're just tired of dealing with details all day long. You could start offering clear film treatment or accessory installation to spice things up and break the monotony. Seems a shame to let go of a business that is busy unless you are making good money to sell it.
One more thing to throw out there. You could raise your prices and down size a bit making the business more manageable. If you're just tired of dealing with details all day long. You could start offering clear film treatment or accessory installation to spice things up and break the monotony. Seems a shame to let go of a business that is busy unless you are making good money to sell it.
Brenton
aka PEI Detail
Thanx for the comments Troy.
In the long run, we were increasing prices and narrowing our demographics. But it isn't the work--I only do about 10-12 hours/week of actual work. I run it, and I teach quite a bit.
That's what I'll do when I'm done the shop, I'll teach. I have f/t till April 25.
After that, we may spend the summer up north to catch some $$, and then keep teaching in the fall (if it comes).
brenton
In the long run, we were increasing prices and narrowing our demographics. But it isn't the work--I only do about 10-12 hours/week of actual work. I run it, and I teach quite a bit.
That's what I'll do when I'm done the shop, I'll teach. I have f/t till April 25.
After that, we may spend the summer up north to catch some $$, and then keep teaching in the fall (if it comes).
brenton