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February 04, 2012, 05:36:17 PM
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Author Topic: How would you give away this home based business?  (Read 1039 times)
joychild24seven
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« on: July 15, 2010, 08:43:14 PM »
Hi Everyone,

I started a cleaning business a few years ago as a single girl living with my parents. When I married my husband, we kept the business going, and it was very nice to have when my husband lost his job last summer. I have invested a lot of time and energy in growing this business as a way to honor my husband and benefit our family, and it has become increasingly successful. In september of this last year we discovered we were pregnant, and in January I took on an employee to keep the business running until I could figure out what to do with it. Now, I have two employees (both collage age girls) and the business is running well, however I cannot afford to raise my prices any further (due to the rural area we live in) and while my employees are making a fair wage for their work, I have made about $30/week in profit for the 10 hours/week I've worked in managing, scheduling, etc. Some weeks I've worked a lot more. My husband has released me from running this business, and we both feel it would be sad to let this relatively successful business die when someone could take it on and build on the already established foundation and reputation in this community.

My plan is to give the business away - transfer the business name, website, etc. and sell any tools or supplies if whomever takes it on, otherwise I'll sell them separately. As I see it, the only way for someone to take this business on and succeed with it would be for them to work it themselves (as I did pre-baby).

I have offered it to one employee, however both girls are very much in a state of transition in their lives, and I don't know that it is a good fit for either of them. I don't really know how to go about finding someone who would benefit from this. I would hate for my clients who have trusted me to come into their homes and care for their belongings, to be taken advantage of by someone disreputable.

My question is: what type of person would you look for to give a business to, how would you go about finding this person, and are there any other thoughts or considerations that you would keep in mind?

Jamie
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Every Day You Save My Life
herbalmom
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Posts: 2965
« Reply #1 on: July 17, 2010, 07:58:50 PM »
How about talking to your local homeschooling group & see if they know of a family, single mom or widow that can use the business to help support their family. Also, HSLDA (Home School Legal Defense Association) has a Home School Foundation that assist widows, families with special needs children, and other homeschoolers in difficult situations. They may know of someone in your area that would be blessed by the business. HTH Blessings ~herbalmom
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SC lady
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Ephesians 5:2
« Reply #2 on: July 19, 2010, 10:53:19 PM »
J, one of the thoughts that occurred to me is that you may want to check with your local hospice organization to see if they have a worker that is looking for another line of work. Hospice work can be hard on the emotions, and I would think these are individuals that are comfortable going into homes. Also, they would have to be a certain kind of person to qualify for hospice work, already familiar with how to work with a variety of people in their home environment.

. . . . just a thought.  Undecided
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In Christ
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Posts: 262
« Reply #3 on: July 20, 2010, 05:07:47 PM »
Wish you lived in my town Cheesy
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provided4
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Posts: 187
« Reply #4 on: July 25, 2010, 06:49:13 AM »
Quote from: joychild24seven on July 15, 2010, 08:43:14 PM
My plan is to give the business away - transfer the business name, website, etc. and sell any tools or supplies if whomever takes it on, otherwise I'll sell them separately. As I see it, the only way for someone to take this business on and succeed with it would be for them to work it themselves (as I did pre-baby).

Selling or giving away the " business" as in the customer base, equipment, etc. is one issue.
I would be careful about  selling/giving away  your name, website, etc. because your reputation goes with it . If the buyer does not run your business as well as you (did) your reputation could suffer. It might be better for them to have their own business name/website etc. Just a thought.
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joychild24seven
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« Reply #5 on: July 26, 2010, 09:20:33 AM »
Quote from: provided4 on July 25, 2010, 06:49:13 AM
Quote from: joychild24seven on July 15, 2010, 08:43:14 PM
My plan is to give the business away - transfer the business name, website, etc. and sell any tools or supplies if whomever takes it on, otherwise I'll sell them separately. As I see it, the only way for someone to take this business on and succeed with it would be for them to work it themselves (as I did pre-baby).

Selling or giving away the " business" as in the customer base, equipment, etc. is one issue.
I would be careful about  selling/giving away  your name, website, etc. because your reputation goes with it . If the buyer does not run your business as well as you (did) your reputation could suffer. It might be better for them to have their own business name/website etc. Just a thought.

I was just thinking about this today... definitely something to consider!
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Every Day You Save My Life
provided4
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Posts: 187
« Reply #6 on: July 29, 2010, 11:19:04 AM »
I was also thinking that you could come up with a price that YOU want for all that you have invested...that weeds out the interested parties. Later, if you find the perfect person and want to change that price to accomodate them that would be your decision.
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