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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 NYCAuburn
Posted on 7/28/17 at 12:47 am to NYCAuburn
quote:Sounds like from this statement your family doesn't own the business, the business owns your family.
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.
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 on 7/28/17 at 12:48 am to rocket31
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 on 7/28/17 at 12:55 am to soccerfüt
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 on 7/28/17 at 12:58 am to NYCAuburn
I live in Tangipahoa Parish, wouldn't take much for me to move
Posted on 7/28/17 at 1:12 am to NYCAuburn
quote:Has there recently been a professional independent valuation done on the business?
The problem has been selling it for what we think it should be worth.
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 on 7/28/17 at 1:19 am to soccerfüt
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 on 7/28/17 at 2:43 am to NYCAuburn
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 on 7/28/17 at 2:58 am to NYCAuburn
AN OT 10 with an OT 7 mother.
Posted on 7/28/17 at 3:59 am to rpr4695
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 on 7/28/17 at 6:43 am to NYCAuburn
Are we talking Winterfell North or the Wall North?
Posted on 7/28/17 at 7:10 am to NYCAuburn
As long as I'm not required to go to the Ohio state fair, it wouldn't take much.
Posted on 7/28/17 at 7:14 am to LSUEnvy
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:you can definitely get some small/large parcels within a decent drive(1/2 hour) of downtown.
get a piece of land out of town in the country
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 on 7/28/17 at 7:14 am to NYCAuburn
quote:
What would it take for you to move to the north?
70 degree winters
Posted on 7/28/17 at 7:14 am to UpToPar
quote:
Are we talking Winterfell North or the Wall North?
Winterfell...
Posted on 7/28/17 at 7:15 am to MorbidTheClown
quote:
70 degree winters
I have progressively moved south my entire life, my goal is this with a dock...
Posted on 7/28/17 at 7:16 am to NYCAuburn
(no message)
This post was edited on 8/5/17 at 10:03 am
Posted on 7/28/17 at 7:21 am to NYCAuburn
Ah. Dayton.
That would be a tough call for me. Columbus would certainly work. Thriving city with fantastic suburbs.
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 on 7/28/17 at 7:23 am to NYCAuburn
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 on 7/28/17 at 7:27 am to rpr4695
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 on 7/28/17 at 7:29 am to NYCAuburn
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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