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Just signed the papers turning over my business to two employees. Dirt cheap deal for them but I wanted to give them the biggest chance of success. Alternative was auction. Then all my employees would have lost their jobs, unacceptable. This has always been a tough racket. They will be paying rent and I get a corner for my hobby metal & woodwork.
Congrats, coming up on 5 years retired for me.
Congratulations on your retirement, and on your loyalty to your employees. I hope you will be able to mentor them for a while yet. I have seen it happen too many times that co-workers and or friends who become business partners shortly are no longer friends or business partners. In any case, all the best to you and them.
Congratulations. Having met the 2 guys you sold it to, I have no doubt they will carry on the tradition you started there.
You may say you're retired, but I'm having a hard time believing you'll be able to stay away from there and IWF as well.
Wishing you the best,
Thanks for the responses guys. My little corner of the shop is 25 x 33' to putter about in. Don't have full access to it yet until the old office area gets torn out so a few tools can be moved to better locations.
Larry - Congratulations on the achievement! So few survive intact in this business, it is gratifying to se someone do well, pass it on, and still be sane and sound.
You have set an example for the people you sold to, and many others. Allowing them to continue in their careers does more for your Karma than anything else I can think of.
Once a woodworker, always a woodworker, so don't forget to post some things and/or some thoughts. While I am 2 years away from retiring (still to be defined...), I can still benefit from what my peers have learned and care to share.
Congrats once again.
Don't be a stranger
Congratulations! Sounds like a win/win for you and your employees.
Larry - congratulations on retirement and have fun in your "little" shop.
do you mind sharing some information on the sale of your business? i'm still in for another 10-20 years (wow, that sounds like a ton of time when i write it down), but am planning on selling my business when i'm ready to retire. this is going to be easier said-than-done, i know. selling to your employees sounds like the best approach these days and i'd like to get your take on it (whether it was your only real option, or best for all involved, etc.).
Congratulations on your retirement. I know this post is old, but I just wonder what some of the things you want to do in your "fun" shop. We probably all tell ourselves that when we slow up we're going to do this or make that but never get around to doing it.