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re: What would it take for you to move to the north?

Posted on 7/28/17 at 12:47 am to
Posted by soccerfüt
Location: A Series of Tubes
Member since May 2013
72875 posts
Posted on 7/28/17 at 12:47 am to
quote:

I've recently been offered to take over family business. I've never wanted to and my dad didn't either but it's been difficult for my parents to sell their manufacturing business and they want me to take over.
Sounds like from this statement your family doesn't own the business, the business owns your family.

The biggest variable in this equation is you.

Do you want to and can you run the business?

Answer honestly. If the answer is negative to either part of that question, then do everyone a favor and tell them you aren't in for it.

I've seen family relationships permanently ruined from situations like you describe.

The possiblility of your relocation to Ohio is secondary to this first point.

I'd probably give it a try personally but not everyone can pull it off.

I'd deal with the Ohio weather.

If it's the wrong type of business or it's in the wrong market, Warren Buffet couldn't make it work.

Good luck.
Posted by jdeval1
Member since Dec 2009
7525 posts
Posted on 7/28/17 at 12:48 am to
quote:

For 3 months (minimum) its dark by 6pm. Bitter cold. Windy. And there is nothing to do.Ugh just the thought of living that way again makes my stomach turn

I get it. But if I could live comfortably on 200k and save 300k per year (not taking taxes into consideration) I'd be out of there and retired young with a lot of good years left
Posted by NYCAuburn
TD Platinum Membership/SECr Sheriff
Member since Feb 2011
57012 posts
Posted on 7/28/17 at 12:55 am to
quote:

Sounds like from this statement your family doesn't own the business, the business owns your family.


I'll put it this way. The company itself started during WWII as a war effort. Before that the family business was meat packing and lard, very large, eventually sold to oscar Meyer. It's not a family need. The problem has been selling it for what it should be worth. Old school
Manufacturing just doesn't have the market. They do 30+ million in revenue a year, but trying to find offers is hard. Especially when people see Chinese production out there

quote:

Do you want to and can you run the business? Answer honestly. If the answer is negative to either part of that question, then do everyone a favor and tell them you aren't in for it. I've seen family relationships permanently ruined from situations like you describe. The possiblility of your relocation to Ohio is secondary to this first point.


Relocation is my primary concern. Running the business is negligible. I think I could do a better job then dad. He is a bit too nice when it comes to the business.
This post was edited on 7/28/17 at 12:59 am
Posted by The Fall of Romo
Independence
Member since Oct 2013
768 posts
Posted on 7/28/17 at 12:58 am to
I live in Tangipahoa Parish, wouldn't take much for me to move
Posted by soccerfüt
Location: A Series of Tubes
Member since May 2013
72875 posts
Posted on 7/28/17 at 1:12 am to
quote:

The problem has been selling it for what we think it should be worth.
Has there recently been a professional independent valuation done on the business?

Without knowing the exact business, I couldn't guess whether what you all think it should bring is realistic.

You all could engage a firm to assist you in selling, of course that costs but those marketing firms do that for a living every business day.

I've been on both sides of the buying and selling situation of businesses. It can be difficult to accept that a business is not worth what you think it's worth or what it was formerly worth. (Not that your situation is necessarily like that, but it might apply).

But from the purchaser's perspective, a potential buyer simply can't overpay for a business, especially a concern that is potentially susceptible to cheap foreign competition.

Good luck.
This post was edited on 7/28/17 at 1:13 am
Posted by NYCAuburn
TD Platinum Membership/SECr Sheriff
Member since Feb 2011
57012 posts
Posted on 7/28/17 at 1:19 am to
quote:

ou all could engage a firm to assist you in selling, of course that costs but those marketing firms do that for a living every business day.


Business is currently in 90 day contract with broker. Having two viable groups bid then bow out of purchasing. The big problem is getting someone to invest in manufacturing stateside. The business is there, but the convincing of sustainability is the hard part despite 80 years in business with no failures and only growth
This post was edited on 7/28/17 at 1:20 am
Posted by LSUEnvy
Hou via Lake Chas
Member since May 2011
12558 posts
Posted on 7/28/17 at 2:43 am to
Just had some friends in from Dayton. They said downtown is starting to clean up. Oak wood is nice or you could always get a piece of land out of town in the country. I always liked the areas north of Englewood.
Posted by PurpleandGold Motown
Birmingham, Alabama
Member since Oct 2007
24001 posts
Posted on 7/28/17 at 2:58 am to
AN OT 10 with an OT 7 mother.
Posted by DannyB
Bagram, Afghanistan
Member since Aug 2010
6141 posts
Posted on 7/28/17 at 3:59 am to
quote:

I hope to become a corporate attorney one day. I hate the north, but I don't hate it enough to turn down a job that pays great (100K plus) money. I wouldn't mind living in New York


You would need a helluva lot more than 100k a year to live comfortably in NY.
Posted by UpToPar
Baton Rouge
Member since Sep 2008
22868 posts
Posted on 7/28/17 at 6:43 am to
Are we talking Winterfell North or the Wall North?
Posted by AFtigerFan
Louisiana
Member since Feb 2008
3673 posts
Posted on 7/28/17 at 7:10 am to
As long as I'm not required to go to the Ohio state fair, it wouldn't take much.
Posted by NYCAuburn
TD Platinum Membership/SECr Sheriff
Member since Feb 2011
57012 posts
Posted on 7/28/17 at 7:14 am to
quote:

Just had some friends in from Dayton. They said downtown is starting to clean up.


It is, but it is still bad in many parts. It's not like New Orleans where people are getting robbed and hurt, but there is a lot of Heroin. A lot. So you have a lot of bums/addicts everywhere and their non violent theft/crimes. They are planing a highline railway to bikepath project as well. We have about 500 yards of property along it, so there is that future potential in the back of my mind as well

quote:

Oak wood is nice


Oakwood is nice, but old

quote:

get a piece of land out of town in the country
you can definitely get some small/large parcels within a decent drive(1/2 hour) of downtown.

quote:

I always liked the areas north of Englewood.



Englewood and trottwood used to the nice side of town(prior to the 70/80's) Southside is the best side now.
Posted by MorbidTheClown
Baton Rouge
Member since Jan 2015
73804 posts
Posted on 7/28/17 at 7:14 am to
quote:

What would it take for you to move to the north?


70 degree winters
Posted by NYCAuburn
TD Platinum Membership/SECr Sheriff
Member since Feb 2011
57012 posts
Posted on 7/28/17 at 7:14 am to
quote:

Are we talking Winterfell North or the Wall North?


Winterfell...
Posted by NYCAuburn
TD Platinum Membership/SECr Sheriff
Member since Feb 2011
57012 posts
Posted on 7/28/17 at 7:15 am to
quote:

70 degree winters


I have progressively moved south my entire life, my goal is this with a dock...
Posted by Lacour
Member since Nov 2009
32949 posts
Posted on 7/28/17 at 7:16 am to
(no message)
This post was edited on 8/5/17 at 10:03 am
Posted by VABuckeye
NOVA
Member since Dec 2007
38283 posts
Posted on 7/28/17 at 7:21 am to
Ah. Dayton.

That would be a tough call for me. Columbus would certainly work. Thriving city with fantastic suburbs.
This post was edited on 7/28/17 at 7:26 am
Posted by GEAUXT
Member since Nov 2007
30413 posts
Posted on 7/28/17 at 7:23 am to
I lived in Iowa for 4 years and loved it. Honestly, it would just take comparable jobs to what my wife and I have now
Posted by liz18lsu
Naples, FL
Member since Feb 2009
17907 posts
Posted on 7/28/17 at 7:27 am to
quote:

I hate the north, but I don't hate it enough to turn down a job that pays great (100K plus) money. I wouldn't mind living in New York



I live in FL and make over $100K. If you are looking at NYC, set the bar a little higher.
Posted by kywildcatfanone
Wildcat Country!
Member since Oct 2012
136195 posts
Posted on 7/28/17 at 7:29 am to
Ohio is not too bad. The attitude of some is very northern, but it's not far enough north that I wouldn't consider it, especially if it's a stable opportunity.
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