What to do? Sell my business?
Wow, how things can change in just a short amount of time. I thought running my craft business full-time was what I wanted to do. I was following my dream while making extra time for my kids, but there were some important things I didn’t take into account, like paying quarterly income tax and health insurance. I also didn’t take into account both kids moving back home and the extra expense of supporting them. So I guess you could say I leaped before I looked and got surprised along the way.
I think this would have been much easier for me if I had another person to help out with family responsibilities and unforeseen expenses, but that’s not the way it is. I think I pushed myself too hard for too long (working 8 hours a day, then coming home and working another 2 to 3 on the business every day). It’s really hard balancing your family’s needs with your own needs both emotionally and financially. I’m glad I gave it a shot, but now I know it isn’t for me.
Now here’s where it gets tricky. In order to go back to work, I can’t keep up with my Suncatcher Craft Eyes business. Then again, it has grown so large that I really don’t want to just close it down. So I’m not sure what to do about it. It may be because I’ve run the business on the side while working full time at the same time for so long, but I’m actually ready to be done with it. I love making the eyes, and I love working with customers. I’m just over working 8 hours a day and then coming home and putting in another 2 to 3 hours on the craft eyes business as well as providing support to my kids. I’m burnt out. I’m at the age where I just don’t want to do it anymore (I’m 47). I’m ready to find a job I can stick with for the next 20 years and save up a nice retirement.
I think this is the struggle for many successful small business owners. It’s so tempting to go out on your own and try to be an independent business owner, but sometimes it just doesn’t work out, especially with a lot of life challenges. Suncatcher Craft Eyes is more suited to someone who can spare 3 or 4 hours a day. If I didn’t have all my current challenges, it would be perfect.
So here’s the plan: I’m in the process of finding a full-time job. I’ve already got some interviews coming up. Believe it or not, I’m actually excited about it. In order to do this, I’ve decided that I need to give up my business.
If you or someone you know may be interested in owning their own craft business, here’s what I am offering:
1. The Suncatcher Craft Eyes copyright.
2. The Suncatcher Craft Eyes website, blog, Etsy, YouTube, Flickr, Twitter, and all other social media accounts.
3. The Suncatcher Craft Eyes website and hosting account, which is paid up for the next 11 months.
4. The Suncatcher Craft Eyes email addresses.
5. The Suncatcher Craft Eyes Amazon seller account, which is very successful and drives almost as much revenue as the website itself.
6. Training how to paint the craft eyes in the different styles and designs.
7. Unlimited email and phone support.
8. Supplier information for craft eyes, shipping supplies, paints, inks, etc.
9. All product on hand, which includes 1000s of each size clear and black eyes and budget craft eyes with organized storage boxes, 1000s of poly bubble mailers and shipping labels, etc.
I am interested in selling my business for 1 year’s gross revenue, which means it will pay for itself after 1 year. This is roughly the mid 5-figures. If you are interested in making Suncatcher Craft Eyes your own, please contact me at email@example.com for more information.