We want a hands off option. I would still do figures each month (if we keep it) which I am happy to do, but the day to day running would not be by us.
Could you sell 10%-49% of the business to someone who'd be willing to manage it for an equity stake and a salary?
Thankyou all for your replies.
This could be an option, we had toyed with the idea of selling off a percentage but I like the idea that we still had controlling share.
I think we will discuss this as we have afew employees that we could offer this to.
As far as building a business, it's really long hours, dedication and sacrifice. I asked DH the other day if he know what he knew know would he do it again. He said yes. I say no.
I am appreciative that we will retire and be FI at 37 and 40, but the lifestyle, marriage and stress has been insane. I am glad we are at the end of.
We started off with 30k of our own savings and worked 7 days a week for 18 months before we took a wage. I worked a second and third job so we didn't have to ask the bank for money.
We reinvested everything back into the company. After two years we took a wage of $250 each for two years, just enough to make ends meet for ourselves, and expanded our business.
We then moved to a location far from family, friends and the area we loved to expand more cheaply.
DH continued to work days, nights and 6-7 days until 2 years ago.
He has cut down now as we have two small children; but his idea of not working as much is to only do 12 hours a day, 5 days a week.
The business has been good to us and our market is a niche market, my husband is a perfectionist. We have never advertised and turn work away.
But we have had enough of living the robotic life and want to live on our own terms now.
I think selling part or the whole will be the healthiest option for us.