schmoopie Posted February 7, 2012 Share Posted February 7, 2012 We bought a new house. No basement, so no room to run business. Anyone else have this situation before? Quote Link to comment Share on other sites More sharing options...
blacktieaffair Posted February 7, 2012 Share Posted February 7, 2012 (edited) I didn't do this, but for a while it looked like it was going to be an option... Get one of those portable metal buildings. They have them that look like lil houses now, have different size doors from a real house looking door to ones you can drive a lawnmower or even a car in . I guess ya'll would have them wherever you are. They are rent to own, no credit check, and come in some pretty dang big sizes. I was looking at getting the monster one and it was only 5k. That's a lot, yes, but with only 200.00 down it was like 100.00 a month and that included the tax and insurance on it. They are studded in them, and it would be EASY to run electricity and insulation. I know it's a lot of work, but it might be your only option since you will probably put out about 1500.00 to level the land, get the downpayment, delivery is free, have electricity and insulation ran and probably about another 200 for drywall ( do that and the insulation yourself , its super easy, trust me, I am useless when it comes to home repairs and even I can tape off drywall and spackle it in lol ) Then, when you get ready, put up paneling if you want. It would be a lot easier to do this, than build either a shop, or a room on the house. Running water to it can be as complex and expensive or as simple and cheap as you want it. It depends on what you're willing to do for a while to make ends meet. I have never have running water in my shops and although I wish like crazy I did have it, I figured it was worth having a shop, and the room... without the water, than having my entire house destroyed with all the stuff I have for work. I have my son tote water out when i need it, and I also have a huge vat I keep water in in the garage to replenish what I need. Yep, its a pain... but it's what I have to do for now Oh one more thing... keep a check on various places that sell these.. a lot of times when they have ones that haven't sold ( especially in this economy) they drastically reduce the end price the one I was looking at, was originally 10k, but it had set there for over two years so they cut it in half Edited February 7, 2012 by blacktieaffair Quote Link to comment Share on other sites More sharing options...
schmoopie Posted February 7, 2012 Author Share Posted February 7, 2012 I am really thinking, after 7 years, being done may be a good thing. I got the kids through school, Company has been successful, we have a ton of wholesale accounts. I think the question really is, have any of you sold your companies and if so, how is the best way to do it? Quote Link to comment Share on other sites More sharing options...
blacktieaffair Posted February 7, 2012 Share Posted February 7, 2012 To that, since I am just starting out really, all I can say is this. I've talked to quite a few over the years, that sold their business, and later regretted it. They missed it as doing a business, but they also missed having the tools to make things for themselves, friends and family. Good luck with your decision and I hope you get some more constructive advice than mine LOL Sorry I misunderstood what you were asking in the beginning Quote Link to comment Share on other sites More sharing options...
Kimb Posted February 7, 2012 Share Posted February 7, 2012 (edited) No good answer for you. Before we moved there were nights they we had to choose between candles or food since I had taken over the kitchen. We ordered alot of take-out food. Now with a bigger space we get to cook/experiment with food again. Can you schedule time to take over the kitchen and maybe store your stuff in a closet out of the way?I just thought of one more suggestion. What about a heated storage unit? You know one of those places you can rent by the month? You might be able to make candles there also. I know one place where a guy used to do wood working in a storage unit.Kim Edited February 7, 2012 by Kimb Quote Link to comment Share on other sites More sharing options...
schmoopie Posted February 7, 2012 Author Share Posted February 7, 2012 We started the business so I could stay home with the kids. My youngest is now a senior in high school. I think I am ready to get out of the basement. It's been great. We have had years that we made $40k but I think I am ready to explore other things. Quote Link to comment Share on other sites More sharing options...
Oceangazer1 Posted February 7, 2012 Share Posted February 7, 2012 I wish you luck with your decision. I sold my business when we moved to Florida...no basements here. I regret doing it. I had missed it so much.If you have a bunch of wholesale accounts...are you going to deal with them? I am slowly building back up. Trying to keep a place for all my supplieswithout turning my house, into a warehouse. Quote Link to comment Share on other sites More sharing options...
jenn624 Posted February 8, 2012 Share Posted February 8, 2012 I'm saving toward a building myself. First monetary hurdle is the concrete pad... I've definitely outgrown the "dining room" Quote Link to comment Share on other sites More sharing options...
number2of7 Posted February 8, 2012 Share Posted February 8, 2012 We're actually closing on a house at the end of this month, mostly because our business HAS taken over the whole house -- I'm serious!! There are either products or supplies in every room of our current house. ((Our new house has a full basement...I am so excited!!!!)) I only mention this to let you know that a business can be run in a house without a basement...you just have to be willing to walk around things, step over things, bump into each other, etc.Perhaps instead of selling your business, you could simply do a major downsizing?? Or only do your wholesale accounts?? But, then again, if you think you're really ready to be done with it all then sell it and be done with it....go read a book, knit a sweater, rearrange your sock drawer, etc. Quote Link to comment Share on other sites More sharing options...
schmoopie Posted February 8, 2012 Author Share Posted February 8, 2012 Well... I have 11- 28 pound melters alone. lol. Fully loaded basement with mass majority being business related, major heavy duty shelving, 6- 6 foot tables. Shipping supplies alone take up 25% of the basement of a 2400 sqt foot house. Quote Link to comment Share on other sites More sharing options...
blacktieaffair Posted February 8, 2012 Share Posted February 8, 2012 lmao I just read this... 11 28 lb melters.......... if you do that type of volume to warrant that , its no bleeping wonder you're ready to quit !!! (psst let me know when you get ready to let loose of some of the equipment hehehheehe ! ) Quote Link to comment Share on other sites More sharing options...
Oceangazer1 Posted February 8, 2012 Share Posted February 8, 2012 (edited) I had a very large Colonial home with a basement that I took over that was 1200 sq ft alone. Plus two other floors, a very large shed and two large attics. I MISS my other house LOL. But I had NO intentions of starting up again. I felt free when we first moved here and then I had too much time on my hands and started missing soaping, ect. So now this home with no basement is about 1900 sq ft and before a show it is a mess! LOL. But I'm trying to keep things downsized, until I see the coops run here and I can't pass up the savings. Now I need to reorganize once again. Edited February 8, 2012 by Oceangazer1 spelling Quote Link to comment Share on other sites More sharing options...
number2of7 Posted February 9, 2012 Share Posted February 9, 2012 (edited) Well... I have 11- 28 pound melters alone. lol. Fully loaded basement with mass majority being business related, major heavy duty shelving, 6- 6 foot tables. Shipping supplies alone take up 25% of the basement of a 2400 sqt foot house.Well, then, that changes things!! lol I have a new solution...buy another house JUST for your business EDITED TO ADD: And I'll be stalking the classies looking for all the stuff you'll be selling! ;-) Edited February 9, 2012 by number2of7 Quote Link to comment Share on other sites More sharing options...
schmoopie Posted February 9, 2012 Author Share Posted February 9, 2012 We are going to sell the business as a whole. Quote Link to comment Share on other sites More sharing options...
blacktieaffair Posted February 9, 2012 Share Posted February 9, 2012 We are going to sell the business as a whole. ........ And she has JUST broken the hearts of many worldwide with that statement cause I KNOW Im not the only one that was sitting here on pins and needles waiting for those classies to go up ! Quote Link to comment Share on other sites More sharing options...
schmoopie Posted February 9, 2012 Author Share Posted February 9, 2012 OMG trying to but everything we have on the classies would be a nightmare...lol. Going to start advertising in local newspapers and Craigslist. If anyone has any experience selling a corporation, let me know.... Quote Link to comment Share on other sites More sharing options...
AlwaysWondering Posted February 10, 2012 Share Posted February 10, 2012 I think in your heart of hearts, you knew you would sell the business. I'm asking this questions not expecting an answer but if you bought a house, you knew when you bought it that it would no way hold your candle making business. That's a lot of equipment to need room for. If keeping the business was a priority, you probably would have chosen a different house. Very best wishes selling the business! Selling a home based business is about the market value of used equipment/assets, the profit value of the contracts/wholesale account and expected first year total profit. The value of your "formulas" and supplier list will be hard to assess with a value unless it is highly unique. Quote Link to comment Share on other sites More sharing options...
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