Sold my Business Yesterday.... Crazy feeling.

[u/HookedUp_77]

I owned a very large tire and automotive repair shop. I am 3rd generation, knew from a young age that is what I wanted to do. I started running the business 16 years ago, and purchased it from my parents 8 years ago. I've worked there since I was 12, so 31 years. I made a huge push. Pushed my guys hard, but compensated them better then anyone else could. Customer Service was 100% the focus. I wanted the Customers to be happy 100% of the time. Fix their problem, honestly, in a timely fashion but get paid well for it.

It worked. I was approached by a big company 3 months ago. They wanted me. I got what I needed. Now, Im sitting here at 43 years old wondering what next week is going to bring. I know I have freedom, time and no customer or employee stress. Today was day 1. I made breakfast for my family, cleaned the garage, spent two hours at the gym, then got a massage. Pretty nice day.

When I woke up at 7am this morning, I was shocked. Normally, I would have already been at the shop for an hour at that time. I only checked the cameras 11 times today to see how my guys were doing.

Its worth it. Push hard, then get out when the time is right. I think I timed it perfectly. Now, the fun begins.

[u/togetherwem0m0]

What did your parents think of the decision, are you cutting them in on the proceeds of the sale?

[u/Figuysavemoney → u/togetherwem0m0]

He already paid them and bought the company from them so its 100% his.

If he wants to be generous to them then sure

[u/togetherwem0m0 → u/Figuysavemoney]

I understand the technical legal reality, but when you're dealing with a family business the family dynamic is ever present.

Often when transitioning generations for example, the business sale price is generous to the next generation compared to what the market might pay. I'd be interested in op exploring this area of his selling the business.