Waiting to lose my job - wwyd?

[Wifelife]

Sorry this might be ramble on a bit

For the last year the small boutique I run has been up for sale, I’ve only been working in the shop for 18 months and didn’t know the owners plans to sell prior to taking the job, had I known my decision may have been different - the sale fell through and the owner is reluctantly carrying on and I’ve been promoted as manager.

The industry is changing and the business is struggling, my boss has already said her heart is no longer in it and would sell if the right offer was made - but there doesn’t seem to be enough cash flow or enough want, to address many of the issues we’re facing so it’s not particularly attractive to a buyer nor is it bringing in the clients we so desperately need to stay afloat.

The last 6 months have been tough, putting off paying suppliers, reducing opening hours and so on - she’s said ‘we’ll be closing down soon at this rate’ several times.

I earn just over minimum wage and work part time hours as they’re the opening hours of the shop, I love my job and the industry I’m in which is something I’ve never felt previously in other jobs. Typically the business owners in this industry would run the business themselves day to day so we’re an anomaly and the idea of just finding the same position somewhere elsewhere just isn’t going to happen.

My DH and I are TTC and having issues there so I don’t want to stop until this has resolved itself, it hasn’t done for months - I feel constantly in limbo and waiting for the sky to fall and it’s on my mind all the time.

I feel pressured and responsible for the renewed success of a business that isn’t even mine all for the very low salary my DH and I rely on and the role in an industry I love. I feel reluctant to put my family plans on hold but also feel stupid going ahead with them knowing I could be laid off at any moment.

My DH is very supportive and says we’ll manage come what may and to remain positive but I worry if I do that I’m just being naive.

Wwyd?

@flumpybear

Thank you - that’s a really good idea, lots of things to consider and ways I can move forward.

TTC is so important to us and we’re both gutted that things have become so uncertain, we don’t want to be irresponsible and bring a baby into a tricky financial situation (we would manage but having us both working is the preference) but equally I don’t want to put it off any longer

@BlackrockMum

It’s the business she wants to sell including all assets - property is rented. There’s definitely room for improvement with promotions and things that I think could be done to turn it around. At the moment I don’t have the authority to action anything without her say so and she doesn’t want to put any time or money into it so it’s a rock and a hard place.

Thank you you’re right, I need to think with my eyes open and see what’s out there too.

If you are passionate about the business then buying it is a good option to consider - you will find a way through pregnancy and baby hood as other enthusiastic small business owners do

I think anything less than passionate and it’s not right for right now

If you are imagining a maternity leave free of work responsibilities this is unlikely as a business owner in my experience

@yoohooitsme

I completely agree and know that a traditional maternity leave wouldn’t be the case if I took this on, that’s something I’m happy to accept it really depends if the business is worthwhile in the first place which is what I’m going to really look into and go from there - either pursuing a purchase or moving on for now

Could you build this business up if you buy it? Is it in the wrong location?

Have you looked into finance options for buying it and do you know the figures? As in how much is owed to suppliers etc? Is the boutique, as in the premises, leased or owned?

I would put off TTC for a while and concentrate on the job/business options first.

Cross post, sorry.

The problem with bridal boutiques now are that brides come in to try them on an shop around online for the best prices. My mom owned a bridal boutique in the 80' & 90's but almost all dress were one off hand mades. Now people buy cheap from China

I don't understand why you are so committed now, when you also admit that if you had known the business was up for sale you might have had second thoughts about taking the job just 18 months ago.

You don't owe this business anything, it looks like it's going under anyway so why wait to the bitter end? IMO, it's always easier to find a job when you are already in one, so you need to start looking urgently.

If it's a boutique then it's retail, it doesn't much matter what the product is. You can learn about other products, but how to handle customers is more important.

But since you are TTC, I would look for a larger business where the impact of you joining and then promptly taking maternity leave will just be part and parcel of following corporate policies rather than a major disaster for the small private owners.

@clairethewitch70

It’s a huge problem and lots of shops are suffering and closing, some are doing it right but it’s hard. Many aren’t willing to pay the cost of a designer dress yet want the experience of champagne service in a boutique - it’s a hard area to be in at the moment

@filka

Yes agree, maternity cover and rights etc would be much better accommodated for in a larger organisation- I came from one prior to this and hated it for many reasons so going back isn’t my preference though something to think about

When I say I may not have taken it, I mean that if I knew the situation I could have made an informed decision rather than rolling with th punches, my loyalty isn’t to the shop itself but the area I work in and my desire to continue working within it - but yes sitting on a sinking ship isn’t the solution

I would have second, third and fourth thoughts about taking on a bridal boutique in your situation tbh. It's not at all clear that it's much of a viable business model for the future and a lot of them will go under. I would not want the stress and potentially the debt when I was also trying to start a family.

@CountessVonBoobs

I agree it’s not a decision I would lightly take, there’s huge risk involved especially as we grow our family

Thanks for all your replies, I appreciate them a great deal