So I own a small niche business… we are in the restoration side dealing mainly with office building property managers. We have quarterly maint contracts and get paid well. Our gross this year will be around 300k and has been for about 3 years now. We (wife and I are the owners) take about 150k for ourselves, so the profit is good. I’m just burnt out and feel like i really want to sell the business but it’s such a niche that I don’t think we can move it. So far we’ve gone through a dozen field techs and can’t keep one for longer than about 18 months. To sell the business we need a larger work force. I dread doing the physical work anymore, but i’m very good at it and make some times over 200/hr.
My problem is that I want to keep the business, which I don’t think will run without me doing the majority of the labor, but I don’t want to do the physical labor ever again. Our cash flow always sucks and it’s put a strain on my marriage bc cash flow sucks which means i never have just a load of cash laying around bc we are always collecting. I could just keep on keeping on bc we do make good money but if i lose one person im back to the grind of the labor and i will literally shoot myself b4 i grind out the labor again. im basically unskilled with no college ed and that would limit my ops to trash man or painter.
Should i try to 1-sell the business, 2-close the doors and wait on the 30-40k past due accts rec to float me until i get my painting business off the ground or sell cars, or 3-should i just suck it up and realize that im destined to a life of hating the labor of job and keep feeling like a slave master by having my labor/techs do all the field work?