The Year After I Sold My Shop...

[gemsmom]

It has been almost a year since I sold my shop.

What I have been asked most is "Do you regret doing it?" and "What do you do with your time?"

answers: "NO" and "Whatever I want!"

I worked for a short time during the transition period. The new owner did not know how to frame, so I stayed a month to teach him. He has turned out to be quite good. I had some time off, then went to fill in for a shop that had lost it's full-timer. I worked two days a week from Nov. until the end of May. They finally found a new full-timer, which was perfect timing, as I was hired by a gentleman to help him open a shop and train people. He has left all decisions up to me as to what equipment to have and what distributors to work with. It is quite a responsibility, but it is a challenge for me, which is what I like.

I learned a few things working for someone else. I got to see things from a different perspective. The experience was an eye-opener for me.

Other than that, I have done alot of work around the house. I have taken up sewing again, which I used to do all the time, but gave up years ago. I am designing and making some really cool Arabian costumes for showing, which I will post if I ever get some good pics. This has been a great outlet for me creatively. We showed last weekend, and the two costumes we used were a big hit. Lots of complements, and we won both classes we were in.

I also now have a 10 year old "Little" from the Big Brothers/Big Sisters org. I have been treating her to horseback riding and she loves it. Her parents have told her caseworker I have been a positive influence on her, which makes me feel good. My own daughter is almost 18, and doesn't need me so much anymore. It is nice having someone fill that void.

We re-did a couple of rooms in the house, so I spent alot of time picking out new stuff. The new kitchen is making the family room look shabby, so I guess that will be next.

I had planned on going to the movies more, but I haven't found time for that.

Now that the nice weather is here, sort of, working on the garden is added to list. The rain has been making it difficult.

I love not having the stress of shop ownership. My husband seems happier now that I am home more.

[Cliff Wilson]

Glad you're enjoying things!

I learned a few things working for someone elseCould you share what you learned?

P.S. any chance you and the Spencer framer (I forgot his name! :( ) will be coming to the PPFA meeting next month in Taunton?

[puttyboy]

So there is life after framing! Good for you Pamela.
Maybe you should approach PFM about writing some articles?

[stshof]

I'd love to hear how you found your buyer or how he found your business? How did you advertise? Was he a customer? They(the ones who write the books on how to sell a business) always say don't let your customers know you're selling. I have a problem understanding that - they could be the best prospective buyers! graemlins/icon45.gif

[gemsmom]

Cliff, Robert hasn't joined PPFA yet, so I don't have the info on the meeting. I might go. Is Brian Wolf the speaker? I would like to see him.

I will get back to you privately on some observations I had with working for someone else.

puttyboy, one of my thoughts was after the sale to perhaps do PPFA classes. I approached Bill Parker, and he was interested. I have found since then that the more removed I am from framing, the less interested I am in it. I haven't framed a picture in almost a month now. It is going to be tough going back to it next month. I am staying active in a small way because I know alot of people in the industry. I don't want to be totally "forgotten" yet, just in case I wish to get more involved in the future. I am also thinking that my experiences as a former business owner in the framing work force might be of interest or use to others in the future. Maybe that could be my seminar or article subject matter!

stshof, I went through a commercial real estate broker. He did all the work. Who I was was kept confidential until he had someone who, after providing financial statements to be sure he could afford to buy the business, was brought in for a showing. He was not a customer. He was someone who wanted to quit what he was doing (accounting) and work for himself. Customers were not informed of the sale until it happened. I wrote letters to my best customers. The rest found out as they came in. I am sure there are plenty who still don't know!

[Jay H]

Pam, I wish you well and congrats on the new life.

Listen, do I understand your situation correctly?

You started your business and during your reign you grew a bunch and shrank a bunch trying to find out what you wanted as a business owner. You decided that a smaller 1-3 man shop was what you were happy with. You managed to knock down some good coin and have fun while operating a successful business. When you decided you were ready to move on, your business was profitable enough that you brought home some more coin on the sale of the entire business. So you ran full circle. You started, thrived, and sold.

Honestly, I think your scenario would be as desirable to framers as the backgrounds that many of the educators we currently have. Please don’t misunderstand me. Of the classes I have taken, most have been great. Some just blew me away. But I’m not going to have 3 to 10 locations. I’m not gonna pay 1-million in rent in a year. I don’t want 600 employees. But those are the guys that are teaching classes. I would love….no I would pay to hear what you have to say as your model was both successful and practical. That’s a winning combination if you ask me. Because you operated the size of business that I can picture myself running successfully I would certainly consider you an “industry leader”.

You may have diminished interest in making frames and that’s understandable. But I know from posts you’ve had in the last year that you haven’t lost your love of the industry or studying business. By actually working at other frameshops you find yourself in a VERY unique situation to truly understand the problems many of us face. For purely selfish reasons I hope you act on your feelings and soon.

[Cliff Wilson]

Yes Pam, Brian is the speaker. The flyer hasn't come out yet, but he will be doing the CMC "seminar" in the morning and something "non-techie" in the afternoon, and of course speaking in the evening. I believe the date is June 21. (or the nearest Monday to that date smile.gif )

[gemsmom]

Jay, the history you have is correct. Your assumptions are correct, also.

I love the industry, love the people, but the "fire" is gone.

I agree that I may be able to offer something in the future. We will see what the future brings.

[Patrick Leeland]

I wish I was in your area. As someone looking down the road and hoping to do my own thing one day, you are (like Jay has said) a huge resource. Maybe something like a small business group would be neat for you. You could be a mentor, it is neat to hear someone do the thing that you dream of doing. If you ever take 95South several hours let me know...I might be willing to get you a free value meal.
Patrick Leeland