Why would anyone sell a lifestyle business that automatically earns the founder $200,000 to $300,000 per year?
- Cashing out to fund retirement
- Building the war chest to fund new ventures
- Distraction & focus. Although a business my “run itself” they often need care, attention and some upkeep…just like a home or car. If the founder is busy with other projects “upkeep” can distract from their other goals.
- Finally, boredom. Some business owners just get bored with their market and/or business and want to move on to other challenges.
So, why is Penny Halgren selling How-To-Quilt.com, the website she founded 8 years ago that now generates $200,000 – $300,000 per year while she kicks her heels up? Sounds like a pretty awesome cash-cow to me…Has she lost her marbles?
Peek inside the mind of a successful entrepreneur and find out why.
Penny shares HER reasons for selling her golden cash-cow in the video below…
Why Would You Sell a $250,000/yr Lifestyle Business?
What would you do?
If this was your business what would YOU do? Hold, sell or grow it?