I sold my shop - Woodworking Talk - Woodworkers Forum
 
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post #1 of 14 Old 03-29-2012, 11:28 AM Thread Starter
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I sold my shop

Several weeks back I was 'just talkin' to one of the guys that works for me and mentioned that I would like to sell my shop around the end of the year. He asked, out of what I thought was idle curiousity, how much I wanted for the business - website, box truck, tools and all. Off the top of my head, I just shot out a price.
The next day he said that he could make it happen. I asked "When?".
His reply....."How about in a few days".
My reply....."Done !!!!"

In will still pop in and out of here from time to time.
I enjoy the crowd.

Tony B

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Retired woodworker, amongst other things, Sold full time cruising boat and now full time cruising in RV. Currently in Somerville, Tx
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post #2 of 14 Old 03-29-2012, 11:43 AM
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Now, what are you going to do?

I cut it 3 times..... and it's still too short.

Dont go ninja'ing anybody that dont need no ninja'ing...
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post #3 of 14 Old 03-29-2012, 12:03 PM
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I'm a bit stunned... Seems like you were getting some good traction under you... Why get out now?

Interested in my woodworking, workshop and whatnot? See http://daves-workshop.blogspot.com, want to see my other interests such as hunting, fishing, off roading, and camping? See http://wildersport-outdoors.blogspot.com
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post #4 of 14 Old 03-29-2012, 12:11 PM Thread Starter
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Originally Posted by Fishbucket View Post
Now, what are you going to do?
Actually, I had 2 full time businesses.
I work Offshore on the rigs 2 weeks and home 2 weeks. My 2 weeks off at home was actually 2 weeks full time in my shop.
Over the past 6 months, my offshore work picked up dramatically. Instead of 2 weks on and 2 weeks off, my new sched has been 2 weeks on and 1 week off. Also, offshore work is usually 100+ hours per week with no days off.
Work picked up so much that the company I sub-contract with is crying for help. I was sent on a 1 week short assignment 2 1/2 weeks ago. I stayed 2 weeks and the day before yesterday instead of flying home, they had a supply boat pick me up and take me somewhere else. I will be here till April 15. Then I will go home for my week off and continue a 2 on/1 off sched for the rest of then year.
Given a choice between the 2 full time occupations, offshore won, mainly because of the money.
As for woodworking, I am paying the new owner 1/2 the rent every month for some small storage space and a place to play.
Also, I plan on semi-retiring next year and work offshore 1 or 2 weeks at a time 3 or 4 times a year. Travel the inland waterways by boat the rest of the time. Maybe even run into some of you guys along the way.

Tony B



Retired woodworker, amongst other things, Sold full time cruising boat and now full time cruising in RV. Currently in Somerville, Tx
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post #5 of 14 Old 03-29-2012, 12:17 PM Thread Starter
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Originally Posted by dbhost View Post
... Why get out now?
David

I just turned 65 and just started receiving pension from AT&T from when I 'retired' from there after 20 years. And that was over 25 years ago. Next year I collect full benefits from SS. We have our sailboat up for sale and are looking for a trawler style boat or a small Motoryacht. We are giving up the open water and want to do the inland waterway thing. Got to do it while we can. Being 'homeless' is fun.

Tony B



Retired woodworker, amongst other things, Sold full time cruising boat and now full time cruising in RV. Currently in Somerville, Tx
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post #6 of 14 Old 03-29-2012, 12:56 PM
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Good for you Tony. Not everyone gets time to retire and have a little enjoyment. If you can You should.
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post #7 of 14 Old 03-29-2012, 01:16 PM Thread Starter
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.............. If you can You should.
Thanks Rich
I can and I will.

More than likely, we will be taking the ICW to Mobile Bay.
We are planning to leave as soon as weather permits right after the 1st of the year.
I will get in touch with you when I get close to BR. At 6 MPH we will not be in a hurry.

Tony B



Retired woodworker, amongst other things, Sold full time cruising boat and now full time cruising in RV. Currently in Somerville, Tx
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post #8 of 14 Old 03-29-2012, 01:41 PM
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Well good for you Tony. I hope you and your wife have a
really great time together.

Kevin.

“There are no secrets in woodworking, and everything should be shared.” Sam Maloof
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post #9 of 14 Old 03-29-2012, 01:53 PM
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Congratulations Tony. We don't get to read about that happening. In fact I can't remember ever reading about a deal as slick as yours. You're lucky to be able to do that and still survive. Daily shop work can really play on your mind and your health.

Just think...no dealing with the public. No more petty complaints, no more competing for bids. No more sweeping, cleaning guns, globs of glue on your jeans, hearing a router after it's been off for 10 minutes, no splinters, or any more sanding.

And, with all that we don't like about the work, you'll probably miss some of it. I'm thinking you'll miss finishing a project and backing up taking a good look at your craftsmanship with a grin on your face.





.
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post #10 of 14 Old 03-29-2012, 02:20 PM
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Originally Posted by Tony B View Post
Thanks Rich
I can and I will.

More than likely, we will be taking the ICW to Mobile Bay.
We are planning to leave as soon as weather permits right after the 1st of the year.
I will get in touch with you when I get close to BR. At 6 MPH we will not be in a hurry.

Sounds good, let me know.
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post #11 of 14 Old 03-29-2012, 04:01 PM Thread Starter
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Mack thanks for the well wishing.

C-Man: He got the whole deal for a really good price. I really didnt think he was serious when he asked so I just made up a price. When he said "Yay", I said to myself "self, you can just walk away" and I took advantage of that situation. Yes it was quick and easy and that in itself is worth a lot of money.
I think I mentioned before that I was turning down work ever since the summer. All I was taking in was repeat customers and my 2 decorators. Even at that I was overwhelmed since my other career picked up. As many have noticed, I had been gone a long time without posting, just been too busy.
I have been trying to work on my current boat for the last 6 years and I recently finally found the time. The last time I was home was the first time in years that I woke up in the morning with absolutely nothing to do. What a great feeling. Not only that, but my offshore work was at a standstill since right before X-mas. Waiting for construction crews on platform to make room for us. Stayed home most of Jan and Feb on 8 Hrs/day Standby Pay. Seems like the last 6 months of my life, I can't do anything wrong. Everything is falling into place too easily - very scarey.
I'll miss it a lot, and so......I made an agreement with the new owner to rent me storage space and unlimited access to my old tools and the shop for 1/2 the rent every month. I can still play if I want to which includes working on my current boat and hopefully my new boat if sailboat sells. With my luck lately, I can't lose.
I called the new owner yesterday and he said he is running out of space already. He needs to hire help. He is a really nice guy - our age, just making a living like everyone else and enjoying it too.
Maybe next year I can finally make the videos I always wanted to. The woodworking videos that is. LOL. As for the 'other' videos, well, at our age, 2 naked people on cam ought to be illegal.

I am trapped offshore now for another 2 1/2 weeks and will try to get on here a little more often.

Tony B



Retired woodworker, amongst other things, Sold full time cruising boat and now full time cruising in RV. Currently in Somerville, Tx
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post #12 of 14 Old 03-29-2012, 06:55 PM
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Quote:
Originally Posted by Tony B View Post
David
We have our sailboat up for sale and are looking for a trawler style boat or a small Motoryacht. We are giving up the open water and want to do the inland waterway thing. Got to do it while we can. Being 'homeless' is fun.
So, it sounds like you need to collect a few handsaws, drills, chisels and planes. Keeping everything level while on a boat may be a bit of an issue, but I'm sure it's something you'll be able to adapt after a wee bit.

My wife doesn't like the idea of taking a few years to sail around the world when we retire. But that's okay, still have 35 years of drum beating for
that.
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post #13 of 14 Old 03-29-2012, 07:17 PM Thread Starter
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So, it sounds like you need to collect a few handsaws, drills, chisels and planes......... Going inland, I figure I will never be very far from someone on this forum. Tony B

My wife doesn't like the idea of taking a few years to sail around the world when we retire. But that's okay, still have 35 years of drum beating for
that.
As for the sailing part, do what I did about 14 years ago.
Just wake up in the morning and announce that you are moving on the boat and just move on the boat. We still saw eachother almost every night and spent the night together in one place or another - usually the boat. About a month later she asked me "how come you never asked me to move aboard". I told her the truth..."It never occurred to me that you would". Anyway from then on, you cant get her off the boat with a come-a-long. Every place we settled, we rented a small mini-storage unit for storage and also part shop. Some how or another, the 'shop' part kept expanding. She will miss it as much as me. BTW, where do you live?

Tony B



Retired woodworker, amongst other things, Sold full time cruising boat and now full time cruising in RV. Currently in Somerville, Tx
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post #14 of 14 Old 03-29-2012, 07:27 PM
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Great news, congratulations. You are a bright light amid the gloom.

I have had a similar experience to yours, sort of, yours sounds better, but mine was good. About 20 years ago I tried to sell my very successful cabinet shop but could not find a buyer that didn't require me to go along with the deal, so I liquidated when my lease was up. I hired an auction company to do everything. They advertised for about a month and then the Saturday of the auction the were 400 eager bidders chomping at the bit. By the end of the day the 6000 sq ft space was empty and the floor swept clean. They bought everything including cardboard boxes filled with scrap wood and sawdust. Anything a home hobbyist might use went for top dollar whereas the real deals were for anything three phase. What a load off my shoulders. When I left the shop that day I felt like I weighed 3 pounds.

The reason I sold was because I too had another business that had become stronger than the cabinet shop and I just couldn't do both any longer.

But I have experienced that free feeling before, it feels great. Good for you.

Bret
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