I read recently that it takes 18 to 24 months to sell a business. Our store has been on the market for 20 months, so that makes it a sure thing, right?
In those 20 months, I have received several offers, low ones asking for ridiculous amounts of financing. In fact, I've been asked to finance hundreds of thousands of dollars by people offering me no credentials, no resume, no business plan, no references, just, hey, what do you think, can I run your store and maybe pay you for it later? I thought not.
We waited, because it's what we do.
About two months ago, I started noticing a change in the inquiries. It was my personal barometer on the health of the economy, my first sign that there was some life springing up out of the darkness. The prospects who contacted me were more serious, moving at a faster pace, and, perhaps most encouraging, they were more financially qualified. Several even grasped the philosophy of the store, and understood the steps we had taken to build and solidify the brand.
And so, I got hopeful.
And then I got an offer that was not low and was not asking for financing.
We are nearing a deal, but we are tiptoeing around like we've stumbled upon a deer in the forest, afraid to move or speak lest it gets spooked and runs away.
Will the deafening clacking of my typing cause it to bolt?
Nevertheless, here I type, quite loudly: We are about to sign a contract to sell the wine shop.
And guess what? It entails more waiting. The buyers must be approved for a loan. We should know in two weeks, three weeks, maybe four?
Life in the balance.
In those 20 months, I have received several offers, low ones asking for ridiculous amounts of financing. In fact, I've been asked to finance hundreds of thousands of dollars by people offering me no credentials, no resume, no business plan, no references, just, hey, what do you think, can I run your store and maybe pay you for it later? I thought not.
We waited, because it's what we do.
About two months ago, I started noticing a change in the inquiries. It was my personal barometer on the health of the economy, my first sign that there was some life springing up out of the darkness. The prospects who contacted me were more serious, moving at a faster pace, and, perhaps most encouraging, they were more financially qualified. Several even grasped the philosophy of the store, and understood the steps we had taken to build and solidify the brand.
And so, I got hopeful.
And then I got an offer that was not low and was not asking for financing.
We are nearing a deal, but we are tiptoeing around like we've stumbled upon a deer in the forest, afraid to move or speak lest it gets spooked and runs away.
Will the deafening clacking of my typing cause it to bolt?
Nevertheless, here I type, quite loudly: We are about to sign a contract to sell the wine shop.
And guess what? It entails more waiting. The buyers must be approved for a loan. We should know in two weeks, three weeks, maybe four?
Life in the balance.
3 comments:
We will quietly cross our toes, our fingers and legs in hopes that this is the one. Oh we so hope this is the one!!!!
Pete & Suzanne
Though it's hard to type with crossed fingers, I'll do it too!
On another note, I'm bringing my 8-year-old to Roanoke Island next Friday to tour and take photos (I need an author photo for the back cover of my novel and couldn't think of another boat nearby!). If you're around, I'd love to shout hello from the dock.
By the way, I meant we'd be taking photos at the Roanoke Festival Park's replica ship. You're welcome to contact me directly, laura att Wharton Communications dot com if you want.
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