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PLEASE HELP! No longer have time for business I started

6 replies

pollypumpkin · 02/12/2007 16:56

Any advice? With 3 young children I started up a web-based interior design business. The children are now that bit older and I have found myself opening up a pre-school with a friend... which is completely my 'calling'. Trouble is I just don't have the time for the first business. I can't just give up on it though. Can anyone give advice?? I can't just let it go, but there are only a limited number of hours in the day and I feel like I have way too much on my plate and totally stressed

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BeeWiseMen · 02/12/2007 17:20

surely there are some rival companies who would pay for your client base?

Or could you take on a couple of apprentices, new from college maybe, who could do the bulk of the work but you could oversee them?

Depends whether you want rid altogether or would like to keep the company but be less hands on.

pollypumpkin · 02/12/2007 17:47

Thank you for taking the time to reply!! ideally I'd like to keep the business but be less hands on... aiming to sell it on at some point. Business is run from home. Not sure how that would work with apprentices, especially as I'm not home most of the time anyway! would love to get help to build it up and give said helper 'cut' of the money when it gets sold on as I can't afford to pay anyone at the moment, but I guess that's asking quite a lot. I just feel I'm not giving my dds enough time & attention anymore

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BrummieOnTheRun · 02/12/2007 18:55

Normally involving new people in a business initially demands more of your time than doing it yourself. Is that feasible?

Is your time-management good? Is there time you could 'find' from somewhere else?

Partnering/merging with a similar or complementary firm is a good suggestion.

Alternatively you could sell the business and retain an interest. www.businessesforsale.com is a good site if you decide to sell and / or it may give you an idea of value. A buyer may value your involvement as long as your role is clearly defined.

Finally, is it franchisable?

pollypumpkin · 02/12/2007 19:30

thanks for that Brummie.... no time to be found unfortunately, hence this problem in the first place. BUT the partnering/merging idea sounds good, if I could just find someone, and yes, I think potentially it is very franchisable. My business advisor has also suggested this. But I need help to get it to that stage - it's not exactly 'turn-key' at the moment; but it could be. I will check out the website you mention, thank you so much!!

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BrummieOnTheRun · 02/12/2007 19:47

I hope you find something/someone. It might also be worth looking for like-minded WAHMs amongst the facebook WAHM UK group, and Giant Potential (another WAH network). Bit of a long shot, but you never know!

pollypumpkin · 05/12/2007 20:20

Thanks Brummie. Have looked at GP and looks useful, in fact I have joined it - so thanks for that! Generally feeling more positive about the whole thing now.

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