Selling our Business – The Aftermath

On the 8^th August we worked the morning, then put on a barbeque lunch for our staff and customers. And by 5pm it was all over. The sale was complete, our bank balance was a bit higher, and a group of people all entered a new phase of their lives.

The sale and handover of our automotive workshop went very, very well. The new owners spent about a month working along side us, and we tried to impart every morsel of knowledge that we possibly could. Every discussion with staff and customers was focused on “business as usual”. And two months later, I’m thrilled to say that the handover process and the efforts of the new owners achieved that aim. All of the staff have continued in their roles, and from what I gather are pretty happy with their situation. I regularly drive past and the daily buzz I remember seems ever present.

It is really satisfying to see a small business continue to thrive after you’ve spent year after year working to build it up. It’s also a good to see that the future of the business is probably better off in new hands. Younger, more energetic, new ideas. We were good at what we did, but we were tired. It feels like we passed the business along to new owners at the right time. I’m optimistic about it’s future success.

Some may recall from previous episodes that my Dad, now 77, is having his second go at retirement. At 68 he was clearly not ready. Being a long term business owners does not always fit well with having a healthy range of activities and relationships outside of work. Fortunately this time he was down to 3 days a week, so had a softer transition into retirement life. I think that he also had a better sense of being “ready”. I think there was probably a feeling that by 77 he had truly done enough, contributed enough. His physical stamina, despite being excellent for his age, was declining further each year. I think that sometimes he needed the full 4 days to recover from his 3 days of work!

I’m pleased to report that his second stab at retirement seems to be going very well. He appears to not being annoying Mum too much. He is keeping active, but without the constant sense of urgency that our business demanded. I think this time he will be OK.

As for me, I’m in the “what next” zone. I worked for a about 3 weeks in my old field, but quickly realised that ship had sailed. So I politely excused myself, with no hard feelings. I really look forward to working again – feeling like I’m contributing, the daily routine. Based upon the maths we could probably retire, but I just don’t want to yet. I want to continue being someone that adds something to society. I’ll continue in volunteer roles that I’ve already got, but I still have an insatiable urge to pull my boots on every day and get out there.

Not sure what that might be…. I’ll keep you posted!