I sold the business to Jack and retired
If I could not sell the business to him, then I was going to have to close down the doors for good.
I was thinking about retiring for 5 or 10 years before I actually decided to sell the business. I wanted to make sure that I sold the heating and AC repair and installation business to someone that would keep the name going. I didn’t want to sell all of the customers and have my business name thrown out. I’ve been in the residential and Commercial AC and heating repair and installation business for a very long time and I’ve managed to do very well during that time. I had one technician that’s been with me for 10 years and the guy’s name is Jack. I told Jack that I wanted to sell the business to him and retire. A couple of years ago I brought it up and he said there was no way that he could buy the business. Last year I went back to Jack and told him that it was time for me to retire. If I could not sell the business to him, then I was going to have to close down the doors for good. I offered Jack a good deal so he could buy the business without a lot of money up front. I only needed enough money up front to make sure that all of my bills were paid and I actually had quite a bit of money that was already saved up. After Jack agreed to the plan, I retired, bought a boat, and moved out to the water. Once a week I meet with Jack so we can discuss business until all of the fees for the business have been paid.