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Sold my business - was a good run.

Reveal1

New Member
At the tender age of 66 and after 10 years since start-up, I recently sold my graphics business. Not firm on what's next, but it won't be running a graphics business due to the purchase terms. S101 is the only social media account where I regularly participate, so I'll at least lurk for a while. Thanks to all of you for the many good tips, advice, laughter, and even the occasional disagreement (usually offered with good intentions). After a recent health scare with my spouse, decided running a business was less a priority than spending some quality time in retirement (well maybe semi-retirement).

Blessed to have networked with two serious purchasers and was able to get a fair price from one local businessman who was already in a graphics-related business. Started my business from scratch in 2010 with no customers but a reasonably well-thought out business plan that focused on several market niches I perceived as potentially profitable at a small scale. My goal was to focus on unique creative projects, build a reputation for delivering a premium high-quality experience, allowing me to keep it small, fun, but very profitable. Took five years to reach my three-year plan, and at several points came close to giving up. Something positive always seemed to happen just as I reached those low points. My faith in God helped along with my natural stubbornness combined to keep me at it. I also feel blessed to live in a country where an entrepreneurial spirit still exists and is valued. Feeling lucky to be wrapping it up now as my children and grandchildren are growing up in a world where fear of risk, failure, and dwelling on past weaknesses is increasingly overtaking freedom, optimism and pride in achievement.
 

White Haus

Not a Newbie
Wishing you all the best in your retirement/next venture, and I'm glad to hear you achieved a successful exit.

Hope to still see you around here!
 

Andy D

Active Member
Best of luck on your new beginning!
Have you thought of making and selling a product that has graphics incorporated into it?
I doubt that would be a conflict of interest that would violate any terms.
Let us know what you decide.
 

Reveal1

New Member
Thanks all for the comments. Whatever I do will likely channel my creative side. Basically, my business was my creative outlet and my social life, so need to replace both with something less stressful and perhaps with more purpose :)

Regarding the process of exiting; my experience was similar to starting my business and probably influenced by my sales background. First thing I did was set a goal by which I wanted the business sold and a rough idea on sell price. Made a list of potential contacts (sellers or influencers) and started discretely reaching out. Spent a lot of time researching valuation methods so when I started talking $ there was not much debate on a value range. Your hard assets are not really all that important in our business; demonstrable cash flow is key. Really helped that my business wasn't viewed as a typical sign company. We built a recognizable brand and often, had contracts or exclusive relationships with several larger local companies, and awards/recognition on numerous high visibility and unique projects. That 'secret sauce' is what people pay extra for, and I stayed on for several months (at a rate commensurate with my earnings) to help train the purchaser and introduce clients. The whole process is a lot of work and no shortcuts.
 

FireSprint.com

Trade Only Screen & Digital Sign Printing
Good luck and don't leave butt marks on the door!
But truly, it's great to hear you made it out ahead, of your own free will, with your health intact! Not often one of us willingly parts ways with their company! Enjoy the retiredish life and keep your creative side sharp.

Love this!!
 

Stacey K

I like making signs
Congratulations! Good luck in whatever you do and never stop being active!
I hear there's good money in painting these days or learning a new language like Arabic could be helpful to translate Gino's emails.
 
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