I sold the corporation to Jack and retired
I was thinking about retiring for 5 or 10 years before I entirely decided to sell the business, then i wanted to make sure that I sold the heating and AC repair and upgrade corporation to someone that would keep the name going.
- I did not want to sell all of the purchasers and have my corporation name thrown out.
I’ve been in the residential and Commercial AC and heating repair and upgrade corporation for a unquestionably long time and I’ve managed to do unquestionably well during that time. I had one professional that’s been with me for 10 years and the guy’s name is Jack. I told Jack that I wanted to sell the corporation to him and retire, then just a handful of years ago I brought it up and he said there was no way that he could buy the business, and last year I went back to Jack and told him that it was time for me to retire. If I could not sell the corporation to him, after that I was going to have to close down the doors for good. I gave Jack a enjoyable deal so he could buy the corporation separate from 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 entirely had quite a bit of money that was already saved up… After Jack agreed to the plan, I retired, purchased a boat, and moved out to the water, once a week I meet with Jack so my buddy and I can discuss corporation until all of the fees for the corporation have been paid.