The decision

[shaper]

For some time now I have been thinking of selling out my powder coat shop. It isn't that I have to or even want to. Next month I will be 73 and there are a lot of things I want to do yet. I haven't brought home a deer in the last three years. I have done some smelting but haven't reloaded one single bullet yet. There seems to be way too many things that take up all of my time.
This past Saturday a man came in and asked if I would sell him my powder coat shop and teach him how to do the work. I told him I would think it over. Mostly I thought he was just a tire kicker and I wouldn't see him again.
The next day, Sunday afternoon the same thing happened again but with a different person. Now I learned a long time ago if I were to come into some extra cash, I should hold onto that money because The Lord sent it to cover some need I will have in the near future. So now is the time for me to drop what I am doing and find a quiet place and say, Ok Lord, I'm listening, what would you have to do?
A little help from other listeners would be appreciated.

[shoot-n-lead]

Based on your disclosure of things "not done"...I would let it go.

However, I realize that is easy for me to say.

But, whatever your decision, it is nice to have the option.

[M-Tecs]

Taking care/helping others has great rewards, but remember to take care of yourself first.

[trails4u]

Shaper, if you love what you do....by all means, keep doing it. If you miss the other things in your life more than you love your work, then maybe it's time, assuming you're financially able to hang it up.

I'm a young man, with a lot of years working ahead of me....so maybe it's easy for me to speculate, I don't know. The one thing I have learned in my forty-few years, however, is that I've never met a man who said, gee...I sure wish I'd worked more. We can't get our days back on this rock, so spend them doing what makes you happiest....seems you've earned that.

God Speed, and may The Lord lead you to peace in whatever decision you make.

Trails.

[No_1]

You have thoughts of getting right with yourself and folks are knocking on the door. Sell the gear then use the funds to enjoy what The Lord puts in front of you.

[merlin101]

If you do sell be very careful! Most likely the buyer will want you to hold the paper. I've seen where the buyer puts a little down and offers a fairly high interest rate and then rapes the business for everything he can and then defaults on the loan. The seller then goes in and finds missing equipment, no stock of materials and worse is the fact he now has no customer base because of the poor work the buyer did! DON'T LET THIS HAPPEN TO YOU!

[Handloader109]

Yes, first of all, set a price that is fair, but realistic. Get some help from others that sell businesses. Next, absolutely do not finance it yourself. I'm totally with Merlin on this. Seen it several times. If the buyer needs financing, he has to go get it. You want cash! Nothing else.....
I think that you should start thinking about this seriously. There is a reason why two have walked in in a short time. I want to get out of my work also, but I know that I have about 5 to 10 more years to go. You should move on to the next phase of your life at 71....do it while your health is good....

[TenTea]

2 days + 2 offers = a sign (I guarantee, this doesn't happen often)

I would consider selling for cash on the barrel head and move on to other *personally fulfilling* work.

Best to you in whatever you decide.

[Blackwater]

The good Lord often sends us clues about what He wants us to do. Personally, I'd take those "coincidences" as a clue that He's got something in mind for you, if you'll just answer His call. I'd do as you say, and just let Him reveal His plan to you in His own good time. Meanwhile, you can cast and shoot and just have a good time playing for a while. Maybe that's what He wants for you, after all. And there's always somebody around who doesn't yet know they want to get into casting if they just had a mentor like you.

No way to know what all God has in mind for you. Best thing to do is probably just sell it to the guy you like best and who'd carry on much as you would have. Then just let whatever will be, be. Good men tend to attract opportunities to serve and have fun. And don't let not having a plan make you hesitate. In business, you've always got to have a plan. When you retire, not having to plan out everything is, for some, hard to adapt to. Don't let it bother you. Sometimes a drifting boat bumps into more stuff than one that's driving fast with a big motor on it. Just let it happen. You don't always have to MAKE things happen. Learn that, and you'll have one heck of a fine time being retired.

[lightman]

Without knowing your financial picture or your health, any advice is mostly opinion. At 73, you have certainly earned the right to sell out and retire. With 2 offers in 2 days I wonder if there is something going on in the industry or your local that we don't know about. If you are financially able to retire I believe I would consider selling out and plan to enjoy the rest of your life. As others have stated, get cash don't finance it. Maybe you can get those 2 guys to bid against each other! Good Luck with this decision! Let us know what you decide.

[jcwit]

I have always told friends to retire as soon as they can afford to.

I retired at 58 and have spent 14 years enjoying it to the fullest.

Yesterday I went to see a renal specialist and found out my kidneys are only at 30% and failing. So the options are dialysis, or transplant. At 72, man am I glad I retired at 58 and had thos years of enjoyment.

[ncbearman]

In my mind you'll be fine no matter what decision you'll make. He is aware of you and is sending you opportunities to do what you choose. On that note.....ask yourself what you would like to do now. At 73 you've only got 20 or 30 years left :) time to decide what your gonna do with the rest of your life! God speed brother. Those who search out the good and righteous things in life walk hand in hand with the Lord.

[shaper]

Thank you all for your comments. I guess I should have added more information in the first post. I was a aircraft inspector for Delta air lines and retired in 2000. We were able to buy the little 10 acre farm we have always wanted and love being in the foot hills of Lookout mountain in north west Georgia. Our son n law is a family practice doctor and he takes good care of us. My wife is having some health problems and is using a walker to get around. The Lord has blessed me with having enjoyed good health. I can out work men years younger. And I dislike sitting and watching tv all day. My on line name is shaper because I am a metal shaper. I build things like aircraft engine cowlings and antique car parts by hand, I also teach metal shaping. I started the powder coating in my shop which is an old chicken house 30x86. With the proceeds from powder coating I have been able to make purchases on the S&S without touching he household account. So I now have all of the molds and dies for all calibers I want to reload. I am now looking to turn my hand to blacksmithing.

[Half Dog]

I wish you the best of luck with your decision. I would suggest to be cautious because there are many that are not honest. I would also like for you keep us updated with your ventures.

[Boaz]

It's really hard to advise a man what to do . I have a small business also and have thought about selling . Don't want to ever quit working entirely but it would be nice to have a little time off instead of working 6 days a week . Finding help , increasing governmental regulation , paperwork , dealing with the public , etc is getting worse all the time .
Think and pray on it , check your options . I agree with many others on the point of cash only , no financing . Good luck !

[KAF]

I'd sell. It seems when you want to sell nobody bites. As soon as the money was in my account in full, I'd hand the buyer the keys and have a contract on the teaching part, with a time limit on it. You seem to have plenty of stuff to stay busy and you could keep an eye on your Wife. Have a signed agreement the new guy keeps the employees. Cover them like they have covered you.

[JonB_in_Glencoe]

SELL SELL, why the second thoughts ?
you said you've been considering it...It looks like you have two people, who could possibly be partners? ...two people, twice the chance they have enough cash,,,or twice the chance they can get a loan to cash you out.

[Smoke4320]

2 people in 2 days .. someone is sending you a message !
I would sell but make sure you get a iron clad contract (go thru a lawyer VERY familiar with business sales ) to cover you in the handoff and payments

[Mk42gunner]

Thank you all for your comments. I guess I should have added more information in the first post. I was a aircraft inspector for Delta air lines and retired in 2000. We were able to buy the little 10 acre farm we have always wanted and love being in the foot hills of Lookout mountain in north west Georgia. Our son n law is a family practice doctor and he takes good care of us. My wife is having some health problems and is using a walker to get around. The Lord has blessed me with having enjoyed good health. I can out work men years younger. And I dislike sitting and watching tv all day. My on line name is shaper because I am a metal shaper. I build things like aircraft engine cowlings and antique car parts by hand, I also teach metal shaping. I started the powder coating in my shop which is an old chicken house 30x86. With the proceeds from powder coating I have been able to make purchases on the S&S without touching he household account. So I now have all of the molds and dies for all calibers I want to reload. I am now looking to turn my hand to blacksmithing.

My advise is to put a realistic price on the business, then sell for cash. I would agree to work with the buyer for a short while to show him how to operate the equipment, no more than a few weeks. It won't be yours anymore so you will have to let him make the decisions.

Is the powder coating business still in the chicken house on your ten acres? If so I would sell the equipment and name, with the understanding that it will have to be moved to the buyer's building.

You really don't want to be the landlord of a business that you started, but no longer own. You also don't want to try to get the business going again after you carry the note and have to repossess it because the buyer doesn't pay and has ran it into the ground.

Robert

[MaryB]

If you enjoy what you are doing and the equipment has paid for itself maybe hire one of those young guy on part time and teach him the business. Can then take some time off while still collecting some income...

[ncbearman]

If you enjoy what you are doing and the equipment has paid for itself maybe hire one of those young guy on part time and teach him the business. Can then take some time off while still collecting some income...
Great idea Mary! You can go to the local high school make contact with the vocational dept. and see if they have a young man (or girl) that would be interested. I bet there is one out of that bunch that would be interested.

[shaper]

Here is where I stand right now. The second man that came here has the cash in hand. He doesn't want to take delivery of things just yet. He has to find out which house he owns to put everything in. He wants a full inventory of everything that would be sold to him. ( daddy deep pockets want to see it ) This will take a while because I have over 140 boxes of powder on the shelf. I will also have to teach him how to do the work. I had him here Monday evening doing some work on a job I had to get out and he loves it. I guess you could say I set the hook on him.
After talking to family I have decided to let him have it. I did, and still, do enjoy doing the work, it was some of the people that came here that got to me. I will build another much smaller oven so I can do some hobby stuff for myself and family. I have a 1981 Chevy truck that came from the factory with ever option available ( outside eye brow, side mounts, custom interior, wire wheels) that is begging for a restoration. It had been sitting in one spot for 8 years before I got it. It doesn't have a gun rack , yet.
So I am content with my decision and look forward to the new things the Lord has for me to do.

[lightman]

It sounds like you are living the dream, My Friend. If you are drawing a pension from Delta you have more options than you would have if you were trying to survive on Social Security only. Consider selling the business and work for the new owner part time long enough to get him started. Take the money from the sale and set up your Blacksmith shop. I agree with you about staying busy. Hope your Wife does ok. And Good Luck!

Oh yeah, I'm thinking that a 30 x 86 building would make a great pistol range!

[Crash_Corrigan]

It appears that you already learned: Prov 3: 4 thru 6. When in doubt pray it out.

[popper]

I started the powder coating in my shop which is an old chicken house 30x86. On your property? No way. Sell the equipment & customer list for cash only - let them get the loan.

[shaper]

OK, the deal has been struck . He will pay me up front and I will hold everything where it is now until he can either find another house to put it in or build a steel building in town. He did ask for a inventory so I put one together for him. But I got a shock, it came to 10 pages. I have 156 boxes of powder, which weighs 746.62 pounds. If I multiply that by the price of $15.00 per pound that comes to 11,199.30. I think he is getting a deal.

[TenTea]

Your updates are appreciated and it sounds to me like you made good decisions, pleasing to you and your family.
Best to you with the transition and hope things move smoothly.

[lightman]

Well, now that thats done you can start the next chapter of your life. I hope you enjoy it as much as you have the other things that you have done. When you get your blacksmith shop up and going I want a Damascus bottle opener!

[Plate plinker]

Get out and enjoy the world. Before it is to late to do the simple things.

[varmintpopper]

Will You wake up the morning after and wish You had not sold ? Think about it !

Good Shooting

Lindy