Selling my business

When I first decided to retire, it didn't take me long to also decide to sell the business. I put up signs in the store and I'm also discussing it with customers. I am amazed at the reaction.

I'm surprised that several people have just asked what my asking price is, probably out of curiousity rather than a real interest in buying. My standard response is that I'll set up a meeting with anyone who is seriously interested and go over all the details.

I have a five-page document which outlines what is included as well as the estimated replacement costs (primarily fixtures and display items), what is not included (primarily decor and things given to me as gifts), what the fixed and variable expenses are, and the store's income and expenses for 2007. The latter is something I've never shared with anyone before, but certainly something that a prospective buyer has to be aware of.

So far I have had four meetings with three very interested people. They all remain interested after hearing the specifics as to price, what's included, etc.

It's very exciting to think that I may get an offer soon. I wasn't planning on leaving until the end of the year, but I'm thinking it's going to happen much sooner than that. I've been furiously organizing "behind the scenes" and cleaning thoroughly.

I am pumped!