I think its time to sell/close, Need some help.

Elite M.D

Elite M.D

A.K.A. 02Silverado
Just wondering if any of you have any advice for me. I would really like to sell the business but I have no idea how I would do that or is it just best to sell all my stuff and close up? I really need to focus on school and trying to run a full time company makes it nearly impossible without getting burned out, especially when I cant have a normal schedule with the rain now. Any advice would be great thanks.
 
First of all, why do you want to give up the business? If you really want to get rid of it, selling to a worthy party would be the best option. If you liquidate you will probably take some big losses. This makes me think about my own goals of owning a detailing business.
 
I guess some things to think about are:
1. Do you rent a building to work out of?
2. Will you need to find another job?
3. You you have any loans against the business?
4. Do you like detailing cars?
The reason for asking is this; You might want to just scale down the business during school time. You could be selective about which clients to keep. The other thought is to find someone you can trust to help you out, so you can dedicate more time to school. If you really want out, selling the entire business would give you the most return. You will need to establish a value for the company (inventory, tools, sales potential, existing customer base, etc.) and that is not always easy. Then finding someone with enough capital to purchase it is another issue. It is usually more expensive to purchase an existing business than it is to start from scratch, so that will narrow the field somewhat.
Good Luck and keep us posted!
 
I see a lot of fine cars that you have detailied. What are you going to school for? A little life experience for you I received my B.S. degree 12 years ago and I am grateful. I started a janitorial/detailing service 4 years ago and its doing fine for a part time service and I'M always hoping to grow. My point is this if you have a successful business stick with it. Unless your going to law school or med school there is no security working in coperate America. Just something to think about.
 
tooklean said:
I see a lot of fine cars that you have detailied. What are you going to school for? A little life experience for you I received my B.S. degree 12 years ago and I am grateful. I started a janitorial/detailing service 4 years ago and its doing fine for a part time service and I'M always hoping to grow. My point is this if you have a successful business stick with it. Unless your going to law school or med school there is no security working in coperate America. Just something to think about.
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Not to be a jerk, but i wouldn't listen to this guy.
Get your degree, if you don't like what you do youll already have a solid product knowledge etc. to do detailing work. But later in life you might not have the money or willpower to spend in school and end up miserable just detailing cars (gasp never!) but its true.

I'm going to school to teach english, and i'm still doing detailing as best i can, because i hope to do it during the summertime when school is out to make some side cash, and because i enjoy it as a hobby.


annnnyway.
if you do end up getting out, i'd be more than willing to buy some of your product from you at a good price.
 
Josh said:
Not to be a jerk, but i wouldn't listen to this guy.
Get your degree, if you don't like what you do youll already have a solid product knowledge etc. to do detailing work. But later in life you might not have the money or willpower to spend in school and end up miserable just detailing cars (gasp never!) but its true.

I'm going to school to teach english, and i'm still doing detailing as best i can, because i hope to do it during the summertime when school is out to make some side cash, and because i enjoy it as a hobby.


annnnyway.
if you do end up getting out, i'd be more than willing to buy some of your product from you at a good price.
Click to expand...
Well it looks like Im not going to sell out. For one I couldnt think of something else for me to do and make enough money, the only places I could think to work at would be fastfood or the grocery store and I cant do that lol. So I just let my employee go. One of my problems was I was working so much but wasnt making any money because of to much expensise. Im just going to work solo again and lower my client base. Im just going to work 3 days a week. Thanks for the help.

Josh, I have product that I would like to get rid of if you are interested.
 
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