Selling a micro business - ideas?
Discussion
Having got more and more into working on my own career (turning around a GP practice), a business I helped start up for my missus (whose own career is now going from strength to strength) is taking just too much of our time to do it any justice.
So I think it is time to sell up, if that is possible, and ideally I would like to retain a bit of a nominal interest in the business, even if this means not receiving any direct payment for the business, providing someone is prepared to put a bit of capital and time into developing the business (which basically means I know the business has the legs to start to make a load of money with the right people at the helm and I'd be prepared to forfeit money now for the almost certain prospect of a good return later on).
First the good things:
- it hasn't burned up capital like it is going out of fashion.
- the dresses don't go out of fashion every two months any one of a number of designs can stay in production provided it is selling.
- it is aimed towards ladies of sizes 18 right up to size 36 [a growing market :-)]
- it has been established since August 2004 and older web domains are good for the search engines.
- it has real potential for the wholesale market, especially where shops don't cater for plus size women, a good brochure with reliable
- the manufacturer has been ultra-reliable
- customers have been pleased with their dresses and we have had good feedback on some plus size orientated websites.
- they are high margin products with the potential for higher volumes to bring per unit cost down dramatically.
- the business can easily be run from home.
Negative things:
- it needs more money to be spent on stock and marketing channels
- it needs more exposure (needs money or time - preferrably both)
- it needs a better website with a bit more polish and for it to be search engine friendly.
- it needs someone available to receive deliveries and take telephone enquiries.
- a shop would lend itself to added legitimacy and confidence for people to order online without necessarily visiting the shop.
In effect anyone could set up this business themselves, but we have a wealth of experience over three years of what to do and not to do, we have the contacts, the mature website address, quite a few productive weblinks, an unsullied reputation, a bank account, a credit card facility and the prepareness to do a good handover.
What do you think? Am I asking too much to think anyone might be interested in a dotcom these days? Am I likely to get ripped off or put off potential buyers, if I go for a stake in the continuing business?
So I think it is time to sell up, if that is possible, and ideally I would like to retain a bit of a nominal interest in the business, even if this means not receiving any direct payment for the business, providing someone is prepared to put a bit of capital and time into developing the business (which basically means I know the business has the legs to start to make a load of money with the right people at the helm and I'd be prepared to forfeit money now for the almost certain prospect of a good return later on).
First the good things:
- it hasn't burned up capital like it is going out of fashion.
- the dresses don't go out of fashion every two months any one of a number of designs can stay in production provided it is selling.
- it is aimed towards ladies of sizes 18 right up to size 36 [a growing market :-)]
- it has been established since August 2004 and older web domains are good for the search engines.
- it has real potential for the wholesale market, especially where shops don't cater for plus size women, a good brochure with reliable
- the manufacturer has been ultra-reliable
- customers have been pleased with their dresses and we have had good feedback on some plus size orientated websites.
- they are high margin products with the potential for higher volumes to bring per unit cost down dramatically.
- the business can easily be run from home.
Negative things:
- it needs more money to be spent on stock and marketing channels
- it needs more exposure (needs money or time - preferrably both)
- it needs a better website with a bit more polish and for it to be search engine friendly.
- it needs someone available to receive deliveries and take telephone enquiries.
- a shop would lend itself to added legitimacy and confidence for people to order online without necessarily visiting the shop.
In effect anyone could set up this business themselves, but we have a wealth of experience over three years of what to do and not to do, we have the contacts, the mature website address, quite a few productive weblinks, an unsullied reputation, a bank account, a credit card facility and the prepareness to do a good handover.
What do you think? Am I asking too much to think anyone might be interested in a dotcom these days? Am I likely to get ripped off or put off potential buyers, if I go for a stake in the continuing business?
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