It's done! (Sold my business)

[TT Eric]

Just sold my sport store!

I started it from nothing in 95 and it became a very successful sport store, one of the most specialized in-inline skates store in all the Quebec, I had (and still has) the biggest choice of Merrell footwear in the Quebec, second biggest choice in Canada (225 different models).

It was a tough choice, my wife got a great job 2.5hrs away from our last home since last year! We bought a place there last year cause it was too far just to travel. So we were seeing each other much less as I was going there when I could and she was coming back the week-end, it was hard on my son too, so for the greater good I decided to sell everything so we can be together all the time.

Plus we are actually selling our place in Montreal too next week.

I'm taking a little break right now since I kinda didn't see any summer and week-end since 16 years, but I find it hard to go from 50-75hrs/week to 0. I'm will look for new opportunities as I mostly always been on my own since I'm 16 years old (I had my own apartment and business then).

This store I had it for long because it was going very great, but usually I build business then I sold them after a while, I kinda like building project from scratch!

It's a big piece for me, so I kinda feel like sharing! Thanks for reading!

Eric

[UTRacerX9]

Congratulations! I hope your next venture is as successful as your last. :)

[TT Eric]

Thanks I hope too!

Eric

[j2k4]

Looking forward to hearing about your next successful venture, Eric.

Best to you and yours.

[Emilie@GZP]

Congrats! :) Enjoy your time off!!! :)

[beepbeep]

Wow. I bet that was a tough decision, but good for you and for your family. I hope that the new owners will continue to grow your business and help it flourish. Best wishes on your next venture as well as have a terrific time with your family while you rest!!!

[TT Eric]

Thanks you very much it's kind of you.

I hope too the business will go on! But I'm not sure, I was selling lower then everyone else so I had a great volume and annual's sale were rising from year to year (20% augmentation in sale from this year to last year, while in 'recession'), I was giving A+ customer service, I was on the floor doing the extra miles for everyone even when the floor was full of people! Now because the business make a nice left over after the year, they (the 3 new owners) don't want to work on the floor, they want to just put cheap employees and collect every years what's left! + They raised the price! + They already have destroyed the personal look of the store, that was very unique, now they are making a plain store like every other one... :(

Ah well... they are still talking about making a franchise out of it and have plenty more. Those guys seems to have $$$. We'll see.

For now we plan to take 3-4 weeks of vacation this summer, I will do a lot of rollerblade and hiking this summer, camping with my son, visit plenty of friends/family, go the local events I was missing!! :D

Eric

[ChargerX3]

Bittersweet i bet. Did you get a good price for it?

[HilbillyHomeboy]

Sounds like you made the right move. :) Very well done.

Jeremy

[TT Eric]

Bittersweet i bet. Did you get a good price for it?

Yeah it took me long to accept the idea of 'selling my job', mainly because I liked it and it was paying good $$. I did not get the initial price I wanted but I would say I got a fair price. Many people wanted my business but had no money, the bank doesn't loan money for inventory and good will. I was blessed to find peoples with money, so I kinda accepted less that I would, if not I could have waited way longer.

Eric

[AgentOblivious]

Nice!






...although you know what they say about rollerblading...

[ChargerX3]

Sorry you didnt get what you wanted, but like you said its a tough economy and the market isnt friendly to seller atm.

[AgentOblivious]

Sorry you didnt get what you wanted, but like you said its a tough economy and the market isnt friendly to seller atm.

Definitely not as bad up here at the moment as it is down in the US.

[Oyyci]

Congratz man! Time to move to where your wife is and start a Canadian 3S business :w00t:

[TT Eric]

LOL I would like!

Eric

[TT Eric]

Sorry you didnt get what you wanted, but like you said its a tough economy and the market isnt friendly to seller atm.

Well maybe I got it out wrong, I still got a good price, not what I asked, but this is how negotiation goes! All in all it's ok, there is a portion of the inventory that they low balled me, but before the transaction get done I had 2.5 weeks to sell everything I could and it went very well, some publicity in the newspaper and the store was full, I mean really full, I remember one day we sold 138 pairs of footwear in 6 hours, that's without the rollerblades, camping stuff, clothes, winter stuff...

Eric

[green-lantern]

I didn't even know you had a business. Like you, I've been on my own at a very young age and I've always worked hard. It seems to really help people grow the hell up quick when it's work or starve lol.

[UTRacerX9]

I hope too the business will go on! But I'm not sure, I was selling lower then everyone else so I had a great volume and annual's sale were rising from year to year (20% augmentation in sale from this year to last year, while in 'recession'), I was giving A+ customer service, I was on the floor doing the extra miles for everyone even when the floor was full of people! Now because the business make a nice left over after the year, they (the 3 new owners) don't want to work on the floor, they want to just put cheap employees and collect every years what's left! + They raised the price! + They already have destroyed the personal look of the store, that was very unique, now they are making a plain store like every other one... :(
Eric

That could be a very good thing. My uncle sold his restaurant business to Discovery Zone for several million in cash and stock options... and then they promptly ran it into the ground. He ended up buying it back for about 1/3 what they paid him, turned it back to profitability, and sold it again for more money.

[TT Eric]

LOL yeah that's a scenario but I would need to move back to Montreal, not sure it will happen. Next move will be in Europe maybe.

Eric

[GTO Assassin]

...although you know what they say about rollerblading...

??? That it's an awesome thing to do, hard to do and requires some kick ass balance? ;)

It's been years since I last bladed on my (at the time) top of the line Salamons. I miss it every day. But I'm hell happy for you and the next stage of your life. :)

Scotty

[J-Groove]

Sounds like you made the move for the right reasons.

Good luck and enjoy the time off while you have it. :)

-John

[Lugnut]

Well now you have no excuse .. See you at ECG on Friday .. Just GPS Ocean City MD :)

[TT Eric]

Haha we move out Monday, so I am pretty much in boxes!! But thanks for the invitation, maybe another time!!

Eric