New job time!

C

Chris142

Joined
Jun 5, 2003
Messages
28,028
Location
Apple Valley, California
My boss has decided that this is the last summer. He is ready to retire and is burned out from rude customers. He offered me a chance to buy the business. I do not have the $$$ and do not see how I could make it work with rent,payrol ect. We No longer get friendly folks that
understand the cost of auto repairs. Now they call you names,threaten you ect.

Now that the news is out I have been approached by several shop owners in the area as well as the chain auto parts stores. Autozone seemed real interested in me but I have not heard back from them. Plus working there would be dealing with the same rude goons we already deal with here.

Now the crane place next door seems to have an interest in me. They need someone to do basic repairs and maintenance on their equipment. They also need someone with a CDL that can drive the trucks loaded with the crane counterweights to the jobs.

This is intriguing me for sure! Fix something one day then drive the next. Break up the monotony that way.

I have known the owners for the 18 yrs that I have been working at the Radiator and Ac shop so transitioning over there may be easier than being thrown to the wolves @ Autozone. Plus no customers breathing down my neck. Just the new boss lol.
 
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If your boss doesn't have a lot of buyers the business is not worth much. Perhaps he would seller finance it to where you could own it in 3-5 years. If you wanted that. Good luck either way!
 
Can you sit back for a bit and decide what you want to do? Sounds like the ball is in your court. Not sure if trying to buy the business from your boss will be the best option IMO. The crane opportunity sounds interesting to me. I don't think AutoZone will be enough of a challenge for you.

You'll be fine in whatever you decide. Keep us posted and best of luck!
 
You know, if you're young enough you should find a way to buy that business. It'll be a big change, but win and you'll be proud to look back at it. Lose, and any future employer will have a higher opinion of you than the other people they interview.
 
If there is demand for the business a new owner will likely appraise and value the human capital there. You might get a bette boss and better pay out of it.
 
Also, is it a business for sale or a job? A business can make money with little to no owner involvement. I personally own my own job, not a business as it wouldnt make a lot without me there. I like what i do but i can’t easily quit. I would have to sell or liquidate when leases are up. It could take years to get out.
A repair shop business might be worth 3-5x the annual profits. If you have to run it day in day out for it to make significant money it is not worth that much.
If this is a job for sale, the owner has to keep running it or lose money each month to the lease. If this is the case, it should sell cheap to someone qualified and willing to keep it going and assume liabilities.
 
If you haven’t had a vacation in 18 years, do NOT buy this business. It seems like it’s mainly you so the value is in what, some equipment and a business name if he doesn’t even own the real estate? It’s basically worthless. Run away.
 
Chris142 said:
My boss has decided that this is the last summer. He is ready to retire and is burned out from rude customers. He offered me a chance to buy the business. I do not have the $$$ and do not see how I could make it work with rent,payrol ect. We No longer get friendly folks that
understand the cost of auto repairs. Now they call you names,threaten you ect.

Now that the news is out I have been approached by several shop owners in the area as well as the chain auto parts stores. Autozone seemed real interested in me but I have not heard back from them. Plus working there would be dealing with the same rude goons we already deal with here.

Now the crane place next door seems to have an interest in me. They need someone to do basic repairs and maintenance on their equipment. They also need someone with a CDL that can drive the trucks loaded with the crane counterweights to the jobs.

This is intriguing me for sure! Fix something one day then drive the next. Break up the monotony that way.

I have known the owners for the 18 yrs that I have been working at the Radiator and Ac shop so transitioning over there may be easier than being thrown to the wolves @ Autozone. Plus no customers breathing down my neck. Just the new boss lol.
Click to expand...

Is your boss just looking to get the most $$ from selling the business or looking to help you grow into the business. If #2 then I am sure you can work out a deal to gradually take over the business. If #1 then take your time and let the best job offer come to you. You may want a job with more responsibility since you have been doing what you are currently doing for 18 yrs.
 
dareo said:
Also, is it a business for sale or a job? A business can make money with little to no owner involvement. I personally own my own job, not a business as it wouldnt make a lot without me there. I like what i do but i can’t easily quit. I would have to sell or liquidate when leases are up. It could take years to get out.
A repair shop business might be worth 3-5x the annual profits. If you have to run it day in day out for it to make significant money it is not worth that much.
If this is a job for sale, the owner has to keep running it or lose money each month to the lease. If this is the case, it should sell cheap to someone qualified and willing to keep it going and assume liabilities.
Click to expand...
He ownes the building. Has the busisness for sale only. Not the building. We are the only shop around that does Radiator repairs. A lost art but still plenty of it coming in. My boss does the radiator repairs himself

I am the AC guy as well as general repair,grunt etc.

He put it up for $210k,then dropped to $190k and now is down to $80k. The new owner would be renting from him.

Oct 31 will be our last day if nobody buys it by then.

Our slow season starts in October. We are lucky to see 1 car a week from october to april. I do not think that buying a busisness right at the beginning of the slow season will work.
 
Ok real estate has value. Other than real estate if he leaves and you leave its literally nothing. Maybe some used equipment. If he sells the property it could change into something else, so i suggest bailing asap.
 
So many questions. Why all the animosity from customers? Callbacks on work or communication issues? That crane company might offer some necessary time off. Who would be doing the radiator repair if you bought the business.
 
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