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General => General Discussion and ??? => Topic started by: Sbrem on April 04, 2024, 03:49:03 PM
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We have sold our shop to someone looking to expand, and as of end of day tomorrow, I will be retired! 52 years as a screenprinter, 49 doing t-shirts. From stapled mesh to Roller and Shur-loc frames, tray developing films in a darkroom to PMT to inkjet onto film, and all the other stuff in that time, it's been a great ride. Though the last few years have been an ass kicking between being forced to move in 2018 and Covid in 2020, I still love the work, but it's time. I'll be 72 at the end of the month, and my wife needs me to be home. I need me to be home too, lol.
This group is about as fine a group of people as I've ever had discussions with. I've been given help on countless projects, and have given help a few times as well. Never a contentious argument (I stayed out of the hot zone) and always pleasant and respectful. So thank you ladies and gentlemen, may your futures be bright, happy and fruitful.
Steve
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Congratulations Steve!
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Congratulations! It’s time to enjoy the good stuff!
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Best to you and yours............tp
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Another friend sold his shop and ain't look back, talk with him just the other day, and he was telling me the people that purchased his shop is already wanting to get out the screenprinting side of it LOL good luck Steve and catch all the fish you can or hit all the golf balls you want!!!!
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In my case Darryl, it will be deciding which of my 19 guitars to play. Thanks brother...
Steve
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Congrats and well deserved
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So happy for you! Really!. I hope I make it living long enough to actually retire. :) and I'll also probably be in my 70's when I do.
Good on ya.
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Yep, good for you.
As folks on the forums along with many of my clients know, I've been talking retirement for ten or so years now, but with me, it's been a gradual thing. I kinda' like it at the level I am at now. Plenty of extra time, but still an income to fund my interests and vices.
I like the fact that you treated it as one sudden jump into the water, or perhaps in your case, more like one sudden push!
Enjoy!
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Congrats!
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Congrats Steve!!
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Congratulations!
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Congrats Steve, One hell of an accomplishment......Crank the Marshall up to 11, and let'r rip!
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Congrats!!!
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Woot! Congratulations. It's always Happy Hour somewhere...
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Enjoy! :)
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Congrats!
What was your revenue and what did you get for the business if you don't mind? I've been asked 2 times in the last month to sell. Im always curious what it might be worth.
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Congrats Buck!
Enjoy your time playin!
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Congrats!
What was your revenue and what did you get for the business if you don't mind? I've been asked 2 times in the last month to sell. Im always curious what it might be worth.
Unfortunately, in our case, it was a bit of a fire sale, as I mentioned, the last few years have not been kind. It wasn't great, but I'm satisfied, as I was already set for retirement. I really can't divulge the amount. We were a little under 700K last year, with just 4 people doing everything. The best part is, no more worrying, or having the burden on our shoulders anymore of all the myriad details that stay in your head night and day. Still, there is a touch of sadness about it being over, but only a touch. My partner and I have been working 60 hours a week together for 32 years, and are still good friends, brothers almost.
Steve
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My partner and I have been working 60 hours a week together for 32 years, and are still good friends, brothers almost.
This above is how business with a partner should go, but we all know a lot never make it that far!
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Congratulations!!
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Congrats! Enjoy retirement, you've earned it.
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Every single person I've ever asked if they missed being involved in a screen printing shop has said no. Enthusiastically no.
So I'd give that touch of sadness a week or so and see how you feel haha.
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Badass dude! I know this is a dream for many of us. Its great you were actually able to sell your business. This begs the question, how do you value a screen print shop? A multiple of gross revenues, just asset based, or a mix? Curious to know more. Its something we all need to think about. What type of exit planning did you do? Did you do any prep work with your CPA in advance of the sale or is this just something that popped up and you took advantage of?
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Congratulations!!! Run for the hills and enjoy life. You can always come back and nothing will have changed. Except people will want to pay even less and the cost of equipment and inks will be even more! Get out while you can and be happy above all else. You did your time.