Thread: Sand paper man is closing

I got an email this morning. It is a shame another good business is closing.

Originally Posted by Mountain Ash

I got an email this morning. It is a shame another good business is closing.

Same here.

Always god to deal with.

I would have thought a business like that could be sold

Originally Posted by double.d

I would have thought a business like that could be sold

Make an offer.

Perhaps they would consider a sale.

Yes, a sad day.

Kerry and Ruth provided a service that no other business could. I am in the process of putting together an order for some things that are not easily obtained elsewhere or are of inferior quality.

Kerry’s knowledge is second to none. On many occasions he has suggested alternate methods or materials to get particular jobs done.

Truely a champion individual.

Originally Posted by Mobyturns

Make an offer.

Perhaps they would consider a sale.

I thought It was actually up for sale a few years ago?

And the list grows for those retiring though not being able to sell their businesses and wanting to see the greener pastures.
It just gets to the stage where you are unable to sell so best shut the door , sell of what you can and move on.
In our case we are in our 29th year, it has been a great ride. But time to have some time for ourselves.
If you look at the ages of most business owners they are closer to or over 70 years of age, so have done their time in the industry.
Most are mum and dad businesses so the industry losses a lot of knowledge about a lot of different things.
When Fords did their first closures they called it the brain drain as the ones that were left did not know all the nuances about the machines and their jobs like the older fellows did.

U Beaut.
Gifkins Dovetail
The Woodworks Book & Tool.
Carrolls Woodcraft Supplies.
Woodturning Supplies.
Sandpaper Man
Gregory Machinery

Sorry to hear, Jim. Enjoy your retirement.

Thanks, not quite there yet but getting very close.
These winter days in the shop make it harder.
Still hopefull of a sale but buyers are thin on the ground.
As most of these business are mum and dad business most buyers want to buy a business with staff so they only have to manage it and have others with the knowledge do the leg work for them

Originally Posted by AlexS

Sorry to hear, Jim. Enjoy your retirement.

Another one to add to the list is Get Woodworking in Altona. Roy has retired so another shop closed and a wealth of knowledge gone with him.

We get a lot of that down here - cashed up Sydney people looking for a small business to keep them occupied in retirement. They buy a small clothing boutique/coffee shop/specialty shop* (delete as applicable), keep the existing staff on.............then realise the business is only profitable if they work full time themselves and don't employ ANY staff. Then they realise what long hours they are going to have to work to break even. The turnover in coffee shops in particular is spectacular; one closes, someone buys it, does an expensive refit, lasts about 12 months, then it's up for sale again. People don't realise how much time and effort goes into running a small business, even it it mostly online.

Originally Posted by Mr Brush

We get a lot of that down here - cashed up Sydney people looking for a small business to keep them occupied in retirement. They buy a small clothing boutique/coffee shop/specialty shop* (delete as applicable), keep the existing staff on.............then realise the business is only profitable if they work full time themselves and don't employ ANY staff. Then they realise what long hours they are going to have to work to break even. The turnover in coffee shops in particular is spectacular; one closes, someone buys it, does an expensive refit, lasts about 12 months, then it's up for sale again. People don't realise how much time and effort goes into running a small business, even it it mostly online.

Mr. B

That is exactly the reality. If you are lucky, you can work hard and be profitable. If unlucky you can work hard and barely make wages.

The classic is the coffee shop that you referenced. A coffee shop in the main street looks as though it has a good customer base and somebody comes along and says "I can do that." They set up the new shop, but have not expanded the customer base. Consequently, two businesses share the same market and at least one of them is going to fail.

Regards
Paul

Originally Posted by Bushmiller

Mr. B

That is exactly the reality. If you are lucky, you can work hard and be profitable. If unlucky you can work hard and barely make wages.

The classic is the coffee shop that you referenced. A coffee shop in the main street looks as though it has a good customer base and somebody comes along and says "I can do that." They set up the new shop, but have not expanded the customer base. Consequently, two businesses share the same market and at least one of them is going to fail.

Regards
Paul

We are having that situation happening in town, there are two Hairdressers one is a community based set up, we’re the hairdressers rent a chair for half a day or full day, maybe a couple days a week, an everyone is happy who used them(Sally being one of them), an prices are reasonable mostly under well under the $100 mark.

4 months ago a sparkling brand new Hairdresser opens up a new Hairdressing salon with Champagne for the first night an all the bells an bling, with most ladies haircuts being well above the $100 mark, with all the young ladies flocking in.

I don’t think personally we have the democratic or the Numbers to sustain two Hairdressers time will tell.

An young ladies can not afford $100 plus cut every 4/6 weeks, an there certainly not getting Champaign with every cut now [emoji849][emoji849].

Cheers Matt.