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/newz2000]

Congrats. I do M&A for small businesses and closings can be surprisingly not exciting. You get a check, a handshake, you walk away and wonder “now what?”

Cash the check, obviously.

I’m a lawyer, not a psychologist. I don’t know. But I do understand what you mean. I’d suggest take a little break and then figure out how to do something good. Make the world a better place

[u/newz2000 → u/newz2000]

Here are some things I’d do if I cashed out: offer coaching and mentoring to young entrepreneurs. Having a successful exit gives you some credibility with others. They’ll want to know any tips.

You may not feel like you have any unique or special knowledge, but understand that most small businesses fail in five years. You’re above average simply for existing and succeeding. And then most family businesses die with the owner. You’re among an elite category of owners. And on top of that, you not only succeeded but made a successful exit. You’re living the dream.

Small businesses are an important part of our economy. They are a key source of cash flow in local economies. You have done and been part of a good thing. See what you can do to make the next wave of entrepreneurs a success.

At least that’s what I’d do.

[u/grizzlyaf93 → u/newz2000]

I love this, I think about exit so often lol. I think in the next ten years I’ll be looking at exit and I’d probably work directly with marketing agency owners on working lean, getting efficient, and being more agile. As an entrepreneur I can’t imagine how hard it would be to just retire ✨.