Below is a link to a true story about a shop owner who is retiring after 28 years, working 7 days a week. He is 64 years old. Read it and let me know what you think...
My business partner started our shop in 1972, thats 38 years ago. In that time, he built an empire and lost it all, and had to start all over again from scratch. It was nearing his 28th year, just like Ken Volland, that everything changed. It was the year he figured out how to finally run his shop profitably, and the year we started our huge leap in sales -- from under $1 million gross to $3.5 million gross three years later.
What I'm trying to say is, there's no reason to have to get out of the game after 28 years. It's one thing if guys like Ken Volland are ready to retire, but it certainly doesn't read that way. It seems like he's too tired of turning wrenches and has been hit too hard by the sour economy. How long would he keep going if he was managing remotely and making good money? It seems like he genuinely cares about his community and would go on if he wasn't there turning wrenches by himself.
Joe, you said tomorrow's shop owner may be different, but Terry (my business partner) isn't part of the next generation. He just didn't want to have to turn wrenches or struggle anymore so he decided to find a way to run his shop from home so he could spend more time with his grandchildren.
Ultimately, I'm trying to say that even if it's been a hard 28 years or working 7 days a week like Ken, it's still not too late to turn things around. You can spend time with your grandchildren, pursue your hobbies, AND run a successful shop at the same time. I've seen it happen in Terry's life.
True story of a shop owner, Retires after 28 years
in Exit Strategy, Retirement, Selling Your Repair Shop
Posted
My business partner started our shop in 1972, thats 38 years ago. In that time, he built an empire and lost it all, and had to start all over again from scratch. It was nearing his 28th year, just like Ken Volland, that everything changed. It was the year he figured out how to finally run his shop profitably, and the year we started our huge leap in sales -- from under $1 million gross to $3.5 million gross three years later.
What I'm trying to say is, there's no reason to have to get out of the game after 28 years. It's one thing if guys like Ken Volland are ready to retire, but it certainly doesn't read that way. It seems like he's too tired of turning wrenches and has been hit too hard by the sour economy. How long would he keep going if he was managing remotely and making good money? It seems like he genuinely cares about his community and would go on if he wasn't there turning wrenches by himself.
Joe, you said tomorrow's shop owner may be different, but Terry (my business partner) isn't part of the next generation. He just didn't want to have to turn wrenches or struggle anymore so he decided to find a way to run his shop from home so he could spend more time with his grandchildren.
Ultimately, I'm trying to say that even if it's been a hard 28 years or working 7 days a week like Ken, it's still not too late to turn things around. You can spend time with your grandchildren, pursue your hobbies, AND run a successful shop at the same time. I've seen it happen in Terry's life.
-David