Owner To Owner Podcast PART 2 - Sandra Kain from Coles Bay in Tasmania on lessons she learned selling the supermarket, cafe & bakery she started 26 years back.
#regionalsmallbusinesses are at the centre of healthy #localeconomies, both as a supplier of goods or services and as an employer. It's in everyone's interest that these #businesses successfully transfer from one #owner to another. #Owners of #regionalbusinesses face additional hurdles when selling their business.
In this 3 part series #owners of #regionalbusinesses share their own personal experiences from going through a #businesssale process.
In this 2nd interview (over 2 weeks) Sandra Kain from #ColesBay in #Tasmania shares her beginning to end story of landing in #ColesBay starting 2 new businesses and then completing the cycle and selling, over a much longer timeframe than she imagined, a bit over 26 years later. We cover;
- arriving in 1994, taking on a #supermarket and #takeaway as one #business, and then a few years later, purchasing the #bakery next door
- using the earlier experience of owning a business in #perth but being challenged by the step up to the next level
- her motivations for being in business
- the #inspiration she got from her #mother who worked in a little #MilkBar, work alongside her, and enjoying the interaction with people
- though I had worked before and it was my own business but this was a large scale
- the benefits of good #timing with #Tasmaniantourism opening up and having #international guests coming from everywhere
- #colesbay being the first town in #Australia to #banplasticbags and working with @PlanetArk
- #tasmanina as a beautiful #cleanandgreen place
- hearing the signal that ït's #timetosell - knowing that the average time it would take to #sellyour business was three or four years.
- kicking off the #sellingprocess and getting nowhere slowly (initially by putting notices on the front of my businesses - just to see who was out there)
- deciding that after twelve months two years that it was not really going anywhere
- the challenges for young couples, young baker's in getting #finance
- dealing with #tirekickers and endless #questions
- working alongside #goodpeople #colorfulpeople
- the difficulties in getting good people working for you in #ruralareas and #countryareas
- hoping and then realizing that #children weren't really interested in taking on the businesses - a major turning point in her life
- feeling anxious from then on
- experiencing the sense of loss after selling the business - wandering "what you are going to do tomorrow?"
- finally selling and becoming farmers #breeding #BeltedGalloways
- working out that working with animals is a lot easier - because they do not answer back!!
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Reach out to Michael Kerr via the website if you need personal assistance or advice for your small business.
michael.kerr@kerrcapital.com.au
www.ownertoownerpodcast.com.au