Won't sell out

I

imported_turbomangt

New member
When I returned from Scottsdale this weekend for some well needed R&R I had a suprising message on my voice mail. It was from a business realitor. When I called I was stunned to hear that he had an offer from a client of his that wanted to buy my business. The offer was well beyond my dreams. After talking to the realitor I could tell his client wanted more than my small shop and my equiptment. He wanted the rites to Perfect Auto Finish. He saw and realized the true potential in what I have been building. While it may be true that the Oprah gig helped my name recognition, he was impressed by my marketing concepts. By selling out, even taking the capitol gains, I would be giving up everything that I worked for. Detailing has become a passion, a labor of love. I just finished reading the book "Good to Great" and I now realize why my company is great enough to be noticed. I took an idea, (consumer education) and elevated the concept to new heights. I can't sell out myself for any amount of money. (although a million might sway my thoughts. :up )If you give up on a dream then all is lost. Gary
 
turbomangt said:
When I returned from Scottsdale this weekend for some well needed R&R I had a suprising message on my voice mail. It was from a business realitor. When I called I was stunned to hear that he had an offer from a client of his that wanted to buy my business. The offer was well beyond my dreams. After talking to the realitor I could tell his client wanted more than my small shop and my equiptment. He wanted the rites to Perfect Auto Finish. He saw and realized the true potential in what I have been building. While it may be true that the Oprah gig helped my name recognition, he was impressed by my marketing concepts. By selling out, even taking the capitol gains, I would be giving up everything that I worked for. Detailing has become a passion, a labor of love. I just finished reading the book "Good to Great" and I now realize why my company is great enough to be noticed. I took an idea, (consumer education) and elevated the concept to new heights. I can't sell out myself for any amount of money. (although a million might sway my thoughts. :up )If you give up on a dream then all is lost. Gary
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That's quite a story. Obviously if it wasn't at least a million it wasn't enough.:) However, another viewpoint... You wouldn't necessarily have to "give up" the dream. If you were offered enough you could conclude that you've achieved your dream and then substitute another dream to persue. But hey, if you're happy, why change.
 
Would anything stop you from taking the money, spending a year in hawaii, and then starting over? I'm going to have to guess that you are the business and without you the business isn't worth that much.
 
~One manâ€â„¢s opinion / observations~



I admire you for not â€Ëœselling outâ€â„¢ your dream, detailing is a very personal business and if you started from the ground-up and have made it as success I see your reasoning. Although the â€Ëœbusiness headâ€â„¢ would tell to sell the business, take the profit and start again.



Having said the detailing is a very personal business, would Perfect Auto Finish be a viable proposition without Gary Kouba?



~Hope this helps~



Knowledge unshared is experience wasted [each one / teach one]

justadumbarchitect / so I question everything/ JonM
 
I understand the business sense of all the viewpoints posted. I guess I'm not that hungry for the money. In any event my lawyer doesn't like the clause regarding giving up my rights to my product line, and detailing clinics. If it were just the detailing end of things, I'd seriously consider it. My classes and products are doing too well to give that up. Heck, in a few more years when I'm too old to work on cars, teaching and selling will be all I have. Besides I enjoy the heck out of it. Gary:xyxthumbs
 
dont do it.. obviously he sees the potential in your business and wants to buy it from you before you realize it.. but im guessing you have realized it right? id never sell my own business just because of the pride and dedication that went into it as well as the hard work to get if off of the ground... kinda the same concept why i would never buy anyone elses car that was already hooked up... i rather start my own, than buy something that was good to begin with...
 
Have you thought about franchising, Gary? Obviously you have a system that works. It will probably be a lot of work (and require a ton of research that you may or may not be willing to undertake), but that way, you get to stay in control of the business, yet still expand the business and increase your time-leveraging ability. Just a thought.
 
92mx83/ I alrwady looked into the Franchising, and you are correct about the research and work, you forgot one other thing lots of up front cash. Maybe in the future if I go crazy in my old age. I'm already half way there. (crazy that is) Gary
 
TOGWT said:
~One manâ€â„¢s opinion / observations~



Having said the detailing is a very personal business, would Perfect Auto Finish be a viable proposition without Gary Kouba?
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That's a great point. I debated that withmy father when it came down to paying him for his half of our company. I could do everything that he did at the company if he left but he could not do any of the technical things that I am trained to do if I left the company. Another good point is that a company is only worth what you can sell it for - not what it is valued at. Detailing businesses are tough to sell because people just think "I'll just start my own" rather than pay someone for their established company.
 
Could consider selling but add a clause that will give you a percentage of any profits and/or if they decide to franchise. That way you will always have some income but none of the business/investment risk. You still have your customer list, so you can continue to detail cars, maybe go mobile instead of a tar and brick business.
 
Now that I know their is interest in my business, I will continue to impliment marketing ideas that will make my position even stronger, then when I feel the timing is right, see ya in Scottsdale.
 
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