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    4 Replies Latest reply on Oct 27, 2009 8:25 AM by benthere

    Selling my business but still want to manage it

    benthere Newbie
      I am thinking of selling my business to an owner that can invest the time and money that I don't have. With the right owner it could be very profitable. Unfortunately we grew so fast that we don't have the money to pay off 6 vehicles, pay the enormous staff that it would take. because we borrowed instead of saving up first we are "hand to mouth" We have a large client base that just loves us and would hate to see us go under, that is why we would still like to manage it... We also don't want to pay the high cost of a broker. does anyone have suggestions on how to find someone who would be interested in buying a business. I thought I heard once of a website of people with money just looking to buy/invest but I can find it...
        • Re: Selling my business but still want to manage it
          UncleLeon Scout
          If you sell your business, you'll have no right to manage it.

          May I suggest that what you are really looking for is somneone to buy "an interest in" your business, while you also, retain an interest..

           

          Please forgive my directness. What I'm about to say, I don't say to be rude, or to hurt your feelings, but you need to be told this (if you don't really, know it already). Respectfully, I also submit (and I know you won't want to hear this, but it's the truth), you have mis-managed your business. It is YOU who has gotten yourself into the predicament you are in. Why would a new owner wish for you to continue?

          However, you have obviously created an excellent customer relations atmosphere within your business. Therefore, it would appear that you would continue to be an asset to the business in a CR / Sales capacity.

          As to the "high cost" of a business broker, they are (at the right choice of one is) a bargin. but, I won't go into the elaboration of all the "whys" in this post
            • Re: Selling my business but still want to manage it
              benthere Newbie
              Thank you for your fair comments. The fact of the matter is we had no capital to invest so our profits are spent on paying back vehicle and buiness laons so if someone had money enough to buy the business we would pay off all the loans and the new owner would have everything paid for and could reap the profits. He could regain is investment in a short period of time and could even turn it into a county wide franchise. We have clients calling from all over the USA that we can't accomadate. We are booked for work into next year and are overwhelmed. And your idea is a good one "However, you have obviously created an excellent customer relations atmosphere within your business. Therefore, it would appear that you would continue to be an asset to the business in a CR / Sales capacity."
            • Re: Selling my business but still want to manage it
              LUCKIEST Guide
              Selling my business

              YES I have suggestions. Tell me more. Go to Members page and share some info.

              Do you have an accountant?? Have you developed a business plan??
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