Should I close my business and sell off properties

[Monterey298sc]

We have been working on a sell for 10 yrs, in our area and market, no one is buying.

[ivinsfan]

Quote:

Originally Posted by Monterey298sc No, in fact the death rate will rise with baby bomers, just can’t find licensed help. Kids don’t want to work.

What do you mean by kids? In our area the local funeral directors are considered valued professionals and treated with respect. But they are not kids, they are adults with formal training.

Something doesn't compute because as far as I know, people are still getting buried without a problem.

Sounds like you are heading for a sale.

[Monterey298sc]

Well sorry , yes take 7 yrs of collage to get a license. Kids , I am talking about young adults not wanting to work hard nights and weekends anymore. That is required in my industry. They are not entering mortuary schools.

[ivinsfan]

Quote:

Originally Posted by Monterey298sc Well sorry , yes take 7 yrs of collage to get a license. Kids , I am talking about young adults not wanting to work hard nights and weekends anymore. That is required in my industry. They are not entering mortuary schools.

Have you considered bringing someone in and offering an ownership stake after a certain timeframe?

[Texas Proud]

Quote:

Originally Posted by Monterey298sc Well sorry , yes take 7 yrs of collage to get a license. Kids , I am talking about young adults not wanting to work hard nights and weekends anymore. That is required in my industry. They are not entering mortuary schools.

This seemed a bit long... what is required... per Wiki it takes 2 to 4 years to get a degree, so what else is needed?

College degrees in mortuary science can usually be earned in two to four years.[4] Some community and junior colleges offer two-year programs while universities can offer both two- or four-year programs.

[ExFlyBoy5]

Quote:

Originally Posted by Texas Proud This seemed a bit long... what is required... per Wiki it takes 2 to 4 years to get a degree, so what else is needed? College degrees in mortuary science can usually be earned in two to four years.[4] Some community and junior colleges offer two-year programs while universities can offer both two- or four-year programs.

I think there is a lengthy apprenticeship. It's a pretty specialized type of vocational training.

[Monterey298sc]

Correct 6 yrs. collage and 1 yr appointment apprenticeship. Pre-Med very very specialized to get license. Young people won’t go the extra mile .

[Amethyst]

Indeed.

A neighbor sold his self-made construction business many years ago at a very fine price. He has lived like a king ever since; helps his five kids and numerous grandkids; and he's still only 71!

Quote:

Originally Posted by davebarnes Close biz. Sell land. Enjoy life.

[Maenad]

Guilty? I think you should reframe this and feel proud:

You inherited a family business and kept it going (and profitable enough to support you) throughout your life. It's still in good enough shape to sell or inherit.

The fact that neither of those things is likely or possible isn't due to your bad choices, it's due to a changing world. You have done a good job with what's under your control, and you should feel proud of that, or at least content. Try to let go of what's out of your control.

Close the business, sell the property, enjoy your well-earned reward with your wife.

[ab620]

Sorry Monterrey that this is happening to you. However, saying kids don't want to work is BS. They just don't want to work in that profession and that is a big difference.

[Monterey298sc]

I hear from many friends that own different businesses the same thing.

[ivinsfan]

Quote:

Originally Posted by ab620 Sorry Monterrey that this is happening to you. However, saying kids don't want to work is BS. They just don't want to work in that profession and that is a big difference.

It's also possible that the OP doesn't live in a very desirable location or he isn't offering enough incentives in a very competitive job market. Our town of 20k has problems attracting medical specialists.

[Texas Proud]

Quote:

Originally Posted by Monterey298sc Correct 6 yrs. collage and 1 yr appointment apprenticeship. Pre-Med very very specialized to get license. Young people won’t go the extra mile .

But that is not what they say for Texas... 2 years and 1 year apprenticeship (Checked it out, 45 cases... so you can get it in less than a year)...


The one thing that I saw on my quick look... salary was listed at $40K to $50K avg... that might be starting but I think I read it was avg... not sure... if that is the case there are better job opportunities out there... heck, I saw on TV where you can get your truck divers license in 2 or so weeks and start at $40K right off the bat... and experienced drivers over $100K!!! And they said they now have automatic transmissions for people who cannot use standard....





A link for all states requirements...


http://www.nfda.org/Portals/0/NFDAOR...nsing-2017.pdf

[Snidely Whiplash]

Quote:

Originally Posted by Texas Proud ... heck, I saw on TV where you can get your truck divers license in 2 or so weeks and start at $40K right off the bat... and experienced drivers over $100K!!!

I saw that same report. I’ve looked into Over-The-Road CDL Truck driving and you are correct, new drivers can easily make $40k per year, and experienced solo OTR company drivers are in the $55k to $60K range. Team drivers can get close to $70K or so but the $100k numbers are for lease or owner-operators and are gross earnings exclusive of fuel, repairs, and other expenses (and those expenses are breathtakingly high). Trucking companies are extremely shrewd, using lease programs to off-load expenses onto drivers who are convinced they are making great money and on their way to owning their own truck. They soon find out their lease payments and expenses are so high they can not afford to take any time off and are making roughly what company drivers are after expenses.

[Texas Proud]

Quote:

Originally Posted by Snidely Whiplash I saw that same report. I’ve looked into Over-The-Road CDL Truck driving and you are correct, new drivers can easily make $40k per year, and experienced solo OTR company drivers are in the $55k to $60K range. Team drivers can get close to $70K or so but the $100k numbers are for lease or owner-operators and are gross earnings exclusive of fuel, repairs, and other expenses (and those expenses are breathtakingly high). Trucking companies are extremely shrewd, using lease programs to off-load expenses onto drivers who are convinced they are making great money and on their way to owning their own truck. They soon find out their lease payments and expenses are so high they can not afford to take any time off and are making roughly what company drivers are after expenses.

Good to know... and yes, if that is gross that is bad reporting...


But still, $40K for a few weeks training is better than $40K for 2 to 4 years training...

[Snidely Whiplash]

Quote:

Originally Posted by Texas Proud But still, $40K for a few weeks training is better than $40K for 2 to 4 years training...

I agree 100%

[jesa]

Have you approached your competitors? I would think one of them would be very interested in purchasing a profitable business they are already in.

[omni550]

If you are serious about keeping the business alive, is there a professional organization and/or periodical/website where you might seek out someone who is already trained in the business but perhaps a '2nd-in-command' elsewhere...and entice them with the thought of running their own ship? Or could you find someone to mentor and eventually they can take over?

omni

[Texas Proud]

Quote:

Originally Posted by jesa Have you approached your competitors? I would think one of them would be very interested in purchasing a profitable business they are already in.

IMO it makes a difference where they are located... if there are only 2 places in town, then the competitor knows that they will get 100% of the business when OP closes his down... no need to pay for what is going to come to you anyhow...


Now, if there are many, then maybe someone will pay for it, but since he has had problems filling a staff position I doubt there are many where he is located... that or he is really cheap and nobody wants to come work there...

[hilltide]

Great question. I have taken over my family business and had the talk with my dad and his partner about their expectations. I advised them of my plan to retire early when it becomes possible. Even though the business has been my dads life, he was perfectly ok with whatever i decide. At his current age at 75 he looks back and wish he would have retired sooner. He said just to use the business as a vehicle to get where we want to go.

He was proud that I took an interest in the business, have been running it successfully, and allowed him to still have an office and get away from his wife, jk. lol. Live your life!! I know how stressful a family business can be.