We sold our family's company

billandamy

billandamy

New Member
Oct 22, 2007
3,043
Southwest CT
Boat Info
2008 205 sport. MonsterTower wakeboard tower.
Engines
5.0 mpi (260 hp) alpha one drive with 19p ss prop.
Yesterday at 3:15

I didnt post anything before this for fear of jinxing it. Details to come, but let's say for now I got my lump sum from the sale, and will be kept on as a consultant.

I have a lunch meeting shortly to discuss the details, and I will then post later the final outcome.

Wish me luck.
 
Good luck to you. Now you are going to have to go to work. :grin:
 
Best of luck. Besides consulting to the new owner, have you thought of what else you'll do? (Heading in that direction myself.)
 
douglee25 said:
Are you purchasing a bigger boat with your 'lump sum'?

Doug
Click to expand...

I was gonna say time to upgrade!

Congrats I hope it was very profitable for your family and gives them a very nice nest egg for retirement and a good boat fund too.
 
Good. Can I borrow some money to buy an Everglades center console striper fishing boat with a 350 hp 4 stroke, radar, fishinder, underwaterlights and a H1 truck to tow it with? IM me if so.
Thanks-
Aquarius
 
I cant believe I now have a boss :wow: Just got back from finalizing my role over lunch.

Well, all is done and I am quite happy with the result. My parents are now completely and fully retired with not a bill in sight, and now will go off into the sunset to do what retired people do. They started the company in 1983, I took over in 1999, and thus a new age begins!

I have all of my bills gone except mortgage and half the boat left (low percentage rate, so thats fine), and some cash in coffee cans buried around town.

The other side of the coin now is I have a boss. This is the first time I am truly working for someone else since being a teen. very odd, but now a LOT less pressure!

I have been contracted for 5 years to be the VP, and will basically be "client relations" whereas I will continue working with my existing clients, and will also continue my emarketing (newsletters etc.) and general overseeing the transition.

The company is going to be expanded greatly, as the new owner is coming from another which also did marketing/advertising, but in promotionals, print, web design, some light media etc. My "old" company is ad/marketing specializing in trade show display design and production, rentals of displays, point of purchase, retail environment, graphic design and production. So it will be a good addition to the business being able to be a complete, comprehensive entity for everything.

I am excited, tired, scared, tired, ecstatic, and tired. I have slept a total of 5 hours in the last 3 days.

Tonight, I will lay down and fall asleep in about 27 seconds :)
 
Last edited:
tmhudson2 said:
Best of luck. Besides consulting to the new owner, have you thought of what else you'll do? (Heading in that direction myself.)
Click to expand...

No, not yet. I think I will actually be working a bit more hours :-(
No more coming in at 930 and leaving at 4 when I want!
However, I did add another week vacation, some personal days, and some "no pay" days to take at my discretion.
As well, I am now officially on a <gasp> salary with commissions! Odd.
 
douglee25 said:
Are you purchasing a bigger boat with your 'lump sum'?

Doug
Click to expand...

lol...no, happy with what we have! My main concern was having no more bills, and putting away some money for several things: adding to the kid's college funds, our savings etc...

I have 5 years to decide what, if anything to do next. I will have to do something, as this is not enough to retire on, but I will cross that bridge when I get to it. For now, I am going to sit back, relax, and let someone else worry how the vendors, salespeople, bank, electric, taxes get paid...:grin:
 
quality time said:
I hope your new boss will let you play on CSR all day. :smt024
Click to expand...

I was up front on my internet playing, as if I am staying, then I need to know life wont be upside down.

He is a good guy, I have known the new owner for 10 years, and in fact he was an employee of ours 6 years ago :)

Now I am working for him! lol...love it!

He will be a good owner, and I trust his leadership. He is also a "guy's guy". He is planning to bring his pacman arcade game and this big juke box down. :lol:

I feel like I am working in the dot com era again!
 
I forgot to metion.

Obama want's you to spread the wealth.

You can send my share to:
PO BOX 357
Odessa, FL 33556

Thanks
 
Thank you for the well wishes once again.

According to many, we got out just in time, in reference to the O to the A possibly taking the Oath.
 
Congratulations, sounds like a good deal.
 
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