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?
[ Business For Sale: If you are interested in buying Penny’s online business, www.How-To-Quilt.com,
including 3 accompanying websites, contact us here.
What would you do?
If this was your business what would YOU do? Hold, sell or grow it?
{ 2 comments… read them below or add one }
Wow. That really takes guts. Penny is a bad*ss!
I would definitely hold onto it. I’m sure there are millions of people that would happily run it for her for a Fraction of the profits. Or if she she could use her successful business as an opportunity to teach young grads about creating online success or something. There are a thousand great things she could do with it that don’t involve chucking out her sweet cash cow. That being said, she sounds like a woman whose mind is made up and I wish her much continued success.
Yes, Penny is a “bad ass” quilting entrepreneur, Catherine.
Penny just likes to shake things up and make a change every 5-8 years after she’s mastered a field. It takes passion to build a business and she sees greener pastures over the next hill.
Nice business though. Maybe I should put in an offer?!