Thinking of selling, moving and perhaps buying a business!

iVillage Member
Registered: 03-15-2012
Thinking of selling, moving and perhaps buying a business!
8
Thu, 08-09-2012 - 9:40am

DH and I have a dream to move to interior BC (Canada) and are starting to think outside the box. Yesterday we started talking more about and looking on the internet for businesses for sale.  Where we want to live - the population is small, hence not a lot of jobs in the area. At least not ones that could replace dh's current income (I am a stay at home mom).  We currently live in the pairies and we want to live where there are trees, and big lakes etc.  We don't want to wait any longer as we are only getting older. 

Does anyone have suggestions on ways to make income?  Online?  I am not creative in my thinking when it comes to stuff like this.  I am the one who usually says "now, why did I not think of that?"   LOL

We would sell our current home, most of our "stuff" (things that are not worth moving) and are willing to rent a house for awhile so that we could use our equity in the home to start a business.  Are we nuts?  Of course, we would do our research, go over the paper work etc.  It is exciting and scary at the same time.

We are open to many types of business except restuarants.  Neither of us are interested in owning/operation one of those, other than that, we are game to look at almost anything. 

Does anyone else own their own business and what advice or tips can you give us?

 

Sandra

iVillage Member
Registered: 10-17-2010

Is there something that you enjoy doing or are really passionate about?? That can sometimes evolve into a home based or online business.  

I don't actually have a business but a friend of mine got her start that way.  She loves cake decorating and runs her cake business out of her kitchen.

iVillage Member
Registered: 03-15-2012

The one thing that I am passionate about it "life coaching".  I get a few clients now and then but have not actively marketed myself due to my tiime be taken up with homeschooling.  I would eventually like to do more of that on a regular basis to create extra income.  DH, however, would still like to have some type of work regardless of what I would make as that is the type of person he is.  He cannot "not work".  LOL

I keep thinking I need to do jump into it more but wonder about the timing (do it now or wait a year to two when my boys will be more self sufficient in their learning - one may even go to public school full time in 2013-14 school year).  Decisions, decisions. . .

 

Sandra

 

iVillage Member
Registered: 04-16-2008

Another thing to do is actually visit a few towns that you consider moving to and see what is "lacking".  For example, I was vacationing in one town and went to the farmer's market (was really enjoying myself and not thinking about business) and noticed that there were all kinds of stands but nobody was selling wool/yarn.  So it may not be a bad idea to sell wool.  Likewise, look at the stores.  If there are tons of cafes and bakeries but no hardware store, it may be a good idea to open up a hardware store.

Of course, these are just examples, but I am sure you get the gist.  Good luck in your plan!

 

iVillage Member
Registered: 05-15-2001
Here is what we did; we visited towns that we thought that might be interesting to us. We drove around making note of whether the town looked properous or dying on the vine. We visited several counties in Georgia, which is our home state. Of course, my DH was beginning his professional career (veterinarian), therefore, we could make no mistakes. There would be very little chance of turning back. We finally picked a town, where we still live. I began to write letters to each Chamber of Commerce to ask specific questions about animan population, number of veterinarians, human population, average income of the households etc. This is part of the real reason for the Chambers, so we got some good answers. All of the towns were still in the running, because we didn't know what answers we would get. Then we traveled around again a few months later to see which of the towns were propering or just holding their own. We decided on this one, because of the information the Chamber had sent us. They gave us information about everything that we asked, even how many other practioners were located here. Then came the property hunt. My Daddy was selling real estate as a second occupation, so he came here to look around for us, when we couldn't because of obligations for DH to get licenses in the state and the National Board Exam. Daddy stopped by an old house on the main highway, and asked if it would be for sale. The home owner was not interested in selling the house at that time. We came here and had an agent show us around the properties that were available. None of them were quite suitable ( too expensive, too much land to clear or bulldoze). This is where the world moves in misterious ways. We came down one Saturday, with Daddy and Mother, and stopped at one of the best restaurants in town. We had ordered, and were just sitting there waiting for the food to arrive, when I looked out of the window; lo and behold, there was nothing but a chimney standing where the house had stood! I was so shocked t hat I stood up and loudly exclaimed: "The house is GONE!"

We found the name of the owner and he worked at a local filling station. We went there, and asked about his willingness to sell now. Of course, he was anxious to get a pile of rubble and burnt trees off of his mind. He said to my DH, "Well, fella, I guess I'm going to have to ask $2,000. for it." Our travels around the town gave us many clues as to how much we should pay for property. Before the fella could give it a second thought, I was drawing a $10 bill from my purse as 'earnest money'. I sat down at the desk and begin to write out a Bill of Sale, complete with the pertinent information. I wasn't certain what I was doing, so I got the five witnesses who happend to be standing by, to sign as witnesses to the verbal contract. Then we went to a lawyer who happened to be a friend of a friend. He told us that we should have called him (which I knew would have been better), but I told him I didn't want to give the man anymore time to think about the price. The lawyer admitted that was a good point, the the seller later did try to back out of the deal, but since I had given him $10 cash that sealed the deal.

We then began to look around town for a contractor who would build what we could use as a 'starter' building, for a price we could afford. We were so lucky! We found a good, honest man, who built the building at cost plus 10%. When he was finished, we had $500. left over to begin to buy medicines and equipment.

Therefore, if you pick the right town, there will be people willing to help you.

Good luck, and happy new home hunting!
pinchpenny2000
iVillage Member
Registered: 05-15-2001
Oops! I mis-typed the word animal.
pinchpenny2000
iVillage Member
Registered: 10-17-2010

Wow, what a great story pinchpenny!!

iVillage Member
Registered: 03-15-2012

Pinch penny - what an inspirational story!  Thanks for sharing!

iVillage Member
Registered: 03-15-2012

Just wanted to add as well PinchPenny that DH and I just decided that we are going to try and go in Sept to look around the area, various towns  and smaller cities.  I will make notes as you suggested!  I will keep you posted!

We have been discussing various ideas.  I found a website that promotes businesses for sale in the area we want to live.  I have registered (for free) and already have received an update on a new business for sale in the area.  We are even talking of selling our current home and renting where we are so that we can be ready to jump if and when we see the right business come along (or decide to start one). 

We have been brainstorming almost daily!  It is exciting and yet scary at the same time!

 

Sandra