I’m moving to Idaho to help care for my mother with dementia and brother that has downs syndrome and has been on a ventilator for 16 years (miracle he is still doing great). But it is a lot on my 75 yr old dad.
My business is doing good. I have 3 fulltime employees and a part-time employee that work the field. I’ve finally worked my way out of the field and run things from the office.
I plan to travel back and forth weekly in the beginning, it will cost right at $100 round trip. I have a Toyota Prius C. That said it is an 8 drive or $150-200 round trip flight.
The idea is to do this through the December (busy season); then re-evaluate how it is going and make appropriate changes. I trust my guys. I pay them fairly, $22.50, $21.50, $21, and $20 per hour.
I will also start a new business there either in laundry cleaning or PW + WC.
My business is on track for $275-300k gross this year. I’m excited about it. 4.5 years after quitting teaching and I’m finally seeing all the re-investing pay off but am I stupid to try and run this the way I’m planning?!
Am I too naïve to think I can run it from 500 miles away? Anyone that has done this or tried please share experiences and what worked and did not and what you would change or do differently.
I had issues with a 2nd location an hour away, TBH. I pulled back and re-evaluated, but alot of the issue was staffing. If you’ve got guys who will show up every day, get themselves motivated and out the door, then I’d say it’s easily doable. My office team could be anywhere minus that component. If one of them is a solid leader, maybe you give him a “service manager” title, another buck, and empower him to see if he thrives in the role. He’s probably picked up more than you realize…
I think it all depends on who you have working for you. Rather than try to run it from afar, if you have someone you can trust to run the business for you then it sounds great. Then you just need to 'check in".
BTW, I have never done this before
It’s neat to me how a statement or question can help you see things differently. @ChrisTripleC I agree with your statement about ticking time bomb and have been concerned about it. I was looking from inside my own fish bowl but you made me step outside my business and ask: would I buy my own business?
I think we often see others situations and know what they can do to get to the next level or if they need a raise; we are bold in telling them how to move forward and believe they could/should do/try it. But with ourselves we are more reserved and less bold in our actions because of the real consequences. You helped me see that this can definitely work!
I’ve got two guys that are 4 year employees, one for two years and the other is finishing his first year. One owned his own business before, another was the supervisor of the business I bought out and the longest employed is the guy I trust the most.
@JAtkinson@Matthew I do believe you guys are right to say it may be best to make one of them the service manager.
I would give the guy with the most upside the option to buy you out after you get settled , and your new business is up and thriving. Gives him incentive , and something to work towards.
I wish you lots of luck , and your a good man doing the right thing. You worked hard to get your business to this level . I hope it works out for you.
Short answer… No Forrest, you are not plain stupid, but you might be crazy.
If you have confidence and trust in those employees, then selling them the business could be an option, especially if they have dreams or aspirstions of one day branching out to start their own business.
You will have enough on your plate to be thinking of commuting like that, and having hopes of starting up again at the new location. Consider moving on, and offering them a chance to be the new owners might be the best reward you could ever give them for being such valued and hard working employees.
Building from scratch in your new location will be easier than the old one, because you have the experience and lessons learned from Las Vegas. You could always retain a percentage of the old business too, if you don’t want to sell out completely. As a silent partner, you still wpuldnt have any of the headaches or travel time to micromanage, but you would have the revenue stream and potential future growth should your trusted employees/partners get gung ho about being owners and grow the business further.
Just my two cents. You know the situation better, but all that travel time and expense along with your new responsibilities may end up running you ragged, and then you won’t be as much help to family when they need you the most. They come first, so don’t kill yourself trying to hang on to the old responsibilities.
I have often wondered what I would do if I were to move down the road. Doesn’t make sense to walk away from business, could sell but it would be nice to keep as an asset. One thing I have considered, and I don’t know if it is plausible, but bring on a partner, they can either buy in at 50% valuation or some kind of payment plan. Keep them on payroll at an agreed wage, then split profits on top. Basically you get 50% of profits for being a partner but not really involved.- This may be a terrible idea, I don’t know.
to paraphrase @Jersey: it’s your business you can’t do it wrong.
I’m going to run with this plan for now. I’ve been blessed beyond measure.
Thanks for all y’all’s input.
Just wanted to say how much I admire your decision to go back and take care of your family. It’s not a choice a lot of people would make, however it shows your character.
I hope you’ve gotten encouragement from others who’ve replied.
thank you. I have had very positive feedback and my helpers have been incredible so far. I’m still hauling things up there. $3000 for a uhaul! not including gas. So I am using my trailer and it will take 5 trips with but a load every 5 days ain’t top bad.
I think most folks on this forum understand why I’m doing this and would do the same. We do it to be able to care for those we love the way we want.
4 weeks in Idaho and it’s been interesting. I have been down in Las Vegas three straight days once, only one days three weeks (family emergencies-the reason I moved) and will be here five days this week (One of my guys will be out Thurs-Fri). It is going alright. My guys are good. Only had a couple complaints, not enough screen magic used on a few screens at one house and literally two corners of a window had some packed leaves that did not get removed (a half teaspoon).
I been a bit bored so I built a 12,000 gallon koi fish pond for my dad. Saved him $110,000. Pays to know how to used heavy equipment. He did make me lunch everyday!
