Selling school

[terryl965]

I have been offord a great price to sell my school and wanted some feedback from the good people on MT.

Pro's
Spend time with family
Get to be a real retired person
Can go on vacation when I want
No more hassle with people problems


Con's
No more time with people I love to train
No satisfaction of seeing people finally get something
the workouts


I know I'll still be training my family and doing tournaments and such but the decission is really killing me, one side says yes the other says no and the middle has no Ideal, let say the offer is a lot of money for the rights of owning the school. No really has no bearing but I would never thought somebody thought my school was worth that much.


Terry

[SFC JeffJ]

Wow, that's a tough one. Would you be able to sell the school, start a new one and still see a profit?

Jeff

[mrhnau]

Would they consider allowing you to still teach? Alot of places have "guest" teachers come in for a fee. You would be able to "cash in" and still periodically teach. That might be a good compromise. I imagine you could dictate your teaching terms (1 day/week, 2/week, etc)


If they don't want you to ever teach, then the decision is tougher...

[mrhnau]

Wow, that's a tough one. Would you be able to sell the school, start a new one and still see a profit?

Jeff

That would depend on the contract. Might include a "non-competition" clause, where you have to be a certain distance in order to restart things.

[terryl965]

Wow, that's a tough one. Would you be able to sell the school, start a new one and still see a profit?

Jeff


Jeff I can start another school outside a twenty mile radious and yes there would be profits in it for me.

[Bigshadow]

Would they consider allowing you to still teach? Alot of places have "guest" teachers come in for a fee. You would be able to "cash in" and still periodically teach. That might be a good compromise. I imagine you could dictate your teaching terms (1 day/week, 2/week, etc)


If they don't want you to ever teach, then the decision is tougher...

Dang you beat me to it. Terry, you could have it put in a sale contract. You could put a term on it, so you can limit how much time and for how long. They may even be interested in keeping you on for a while anyway to help transition the school. You could also become part of that shaping process so you can see that it goes in a satisfactory way for you. Just some things to consider.

[terryl965]

Dang you beat me to it. Terry, you could have it put in a sale contract. You could put a term on it, so you can limit how much time and for how long. They may even be interested in keeping you on for a while anyway to help transition the school. You could also become part of that shaping process so you can see that it goes in a satisfactory way for you. Just some things to consider.

Thanks Bigshadow the whole idea just jumped in my lap at dinner the other night and I was asked if I sell the school how much and I replyed and a day later he is making the offer at the price I gave, prayer will let me decide and input from those of you.

[HKphooey]

Good luck with it! Your heart will tell you what to do.

[Flying Crane]

Are you ready to quit teaching in your school? I guess you need to answer that question.

Kind of a strange thing, in my opinion. If a school has a good reputation, it is built upon the shoulders of the instructor/owner. If it passes into new ownership, with different instructors, there is no guarantee it will be any good. I would not be surprised if the students left the school. I know I would leave the school, if my teacher quit. I am not simply at the school to train under whoever is there, but rather I am there to train with that teacher. I guess I don't understand why someone would want to buy someone else's school. Seems to me that someone would start their own school and build their own reputation...

[Brian R. VanCise]

Hey Terry,

Think through what it is that you want to do. Do you still want to teach? Do you want to teach at this location and to these students? Once you know that then you will have a good idea on whether to sell it or not. Really it is just a matter of you determining what is best for Terry and his family. Once you figure that out then you will know how to proceed.

[tshadowchaser]

Do you trust the people that made the offer to give you students quality instruction? If you reopened would any of you present students make the drive to study at you new school? Is the money enough to help you and your family for some time? How dose your family feel about this? And again are you ready to give up your school and teaching?
Best of luck in deciding it is going to be a hard decision no matter what you do

[terryl965]

Do you trust the people that made the offer to give you students quality instruction? If you reopened would any of you present students make the drive to study at you new school? Is the money enough to help you and your family for some time? How dose your family feel about this? And again are you ready to give up your school and teaching?
Best of luck in deciding it is going to be a hard decision no matter what you do



No I'm really not ready with the mind part but the body has taken it toll onme over the years of neglict, my wife says if I sell it it would only be a matter of months before I miss it enough to open a new one and is it worth losing what we have and start over in that short of a time frame.

The money really is not an issue as the fact of me needing time off to regroup my body and not having the right people to run the school while I'm gone and I can trust with the everyday running of the school.

I guess it is a matter of health when I get all my test back next week I'll know more. I will let everyone know when I do.

Thanks for all the well off replys.
Terry

[Bob Hubbard]

Terry,
My advice would be, sell the school, use the money to heal the body and relax for a bit. Then, in a few months, if the itch is still there, and your no-compete clause allows, scout out a new location and hang up the shingle again. Being self employed, I'm often considering selling and resting, but know that soon as I do so, the itch will come back, so can understand a bit :)

Best of luck

[tshadowchaser]

no matter what the seel decission is I wish you the best with those test. Your health is more important

[Andrew Green]

Are they willing to hire you as a part time instructor? Then you get to only do the teaching, not worry about the business stuff at all and are only there a few hours a week.

The other thing you can consider is selling and taking a small group and renting space (or if someone has a big basement...) and training a small group a couple nights a week without the "running a school" part to it.

Or maybe even spend a year or two in a completely different style after your all rested and healed up, I have to admit I have been tempted by the idea of being a student somewhere again... esspecially when there was a boxing club in the same building as I worked in and I had to walk up the stairs past it everyday :D

[Kacey]

I think you need to decide what you want - if you want to teach, and starting over would be tough (and it would) then selling your school, no matter how profitable, will later come back and be a problem. If you think you might enjoy retirement more than you miss teaching, that's something else. Have you considered selling your school and teaching for a rec center, public school, or Y, where they would pay you, there would be no overhead and fewer hassles - but still be able to teach to your preferred standard 2-3 nights a week?

[DavidCC]

... I was asked if I sell the school how much and I replyed and a day later he is making the offer at the price I gave...

you obviously did not ask for enough!!!

There are probaly lots of good relationships you could establish with the new owners. I would think the more involved you were during the transition the better it woud be for the new owner in the long run.

[searcher]

You should consider doing seminars if you do decide to sell. It can be a great way to still teach and you won't have the overhead or tie down of a school.

[still learning]

Hello, Sell it....if he does not work out...and the school falls apart..you can always start it over. Most schools are successful because of the Sensi's/teachers.

Very important here...can your students still keep there rank and earn ranking. Can they continue the same type of training or will they need to start over?

Talk to your students of your intentions and feed back!!!! ......Aloha

[exile]

I think you need to decide what you want - if you want to teach, and starting over would be tough (and it would) then selling your school, no matter how profitable, will later come back and be a problem. If you think you might enjoy retirement more than you miss teaching, that's something else. Have you considered selling your school and teaching for a rec center, public school, or Y, where they would pay you, there would be no overhead and fewer hassles - but still be able to teach to your preferred standard 2-3 nights a week?

Terry---I'm with Kacey on this... of course, in the end it's your decision, but I've noticed, reading years of MT threads, that you are intensely involved in teaching and thinking about the issues that the teaching profession raises. It's true---if you want to retire, really, then that's another story. But from everything I've read that you've posted, you don't really want to disconnect from the teaching life. With your own school, you can determine policy, curriculum and so on. If you retire from running a dojang and then teach part-time, it might not be so easy...

I have to own up, I guess---I'd like to see you decide to keep your school, I like your philosophy of instruction in the Korean MAs as you've expressed it on MT over the years and I think it's important for the art to have a `hard core' of people devoted to the full expression of TKD, not just Olympic-style sparring. It's not my place to say, but since you asked, I would feel disappointed to see someone leave his school who has what I think has the right take on TKD... well, you did ask! :wink1:

[Drac]

prayer will let me decide

It has ALWAYS helped me making big decisions...

[Jonathan Randall]

Terry,
My advice would be, sell the school, use the money to heal the body and relax for a bit. Then, in a few months, if the itch is still there, and your no-compete clause allows, scout out a new location and hang up the shingle again. Being self employed, I'm often considering selling and resting, but know that soon as I do so, the itch will come back, so can understand a bit :)

Best of luck

Ditto.

Best of luck in your decision - and remember that your HEALTH comes first. You can't be their for either your family or your students if you push yourself so hard that your health fails.

[Drac]

Ditto.

and remember that your HEALTH comes first. You can't be their for either your family or your students if you push yourself too hard that your health fails.

Very true...

[Jade Tigress]

Terry,
My advice would be, sell the school, use the money to heal the body and relax for a bit. Then, in a few months, if the itch is still there, and your no-compete clause allows, scout out a new location and hang up the shingle again. Being self employed, I'm often considering selling and resting, but know that soon as I do so, the itch will come back, so can understand a bit :)

Best of luck

Terry, I'm with Bob on this one. I think it's a fantastic opportunity and you'll be able to open another school when you so desire. Congratulations on your success, the offer speaks volumes. :asian:

[Lisa]

Once a teacher, always a teacher. You are far too dedicated to your art to just "walk away" Lots of good advice about selling and reopening after some rest and when the itch hits you. I would be cautious about working for the new owners. The students there currently look to you for guidance and so do the parents of the kids you teach. It will be hard for them to learn to go to someone else if you are still there and the transition will be harder for them. Also, if the new owner doesn't do things the way you used to, it may be hard for you to watch the school change.

Just my .02 cents :)

[terryl965]

Lisa you kill me, anyway I had an offer and I made a decission and that decission is simple I'm keeping the school after talking to my GrandMaster and some fine folks here on MT and of course my better half I will decline the offer and find a able teacher to help out and continue to train the people that have become more than students.

I do thank all of you and I just would like to say when the meet and greet come in my area I will host and help house some people if they would like.

My health will come first and my wife said if need be she will retire to help me run the day to day of the school because my haapiness is more important than her job at this point that made me happy and so goes on Twin Dragons.

[exile]

Lisa you kill me, anyway I had an offer and I made a decission and that decission is simple I'm keeping the school after talking to my GrandMaster and some fine folks here on MT and of course my better half I will decline the offer and find a able teacher to help out and continue to train the people that have become more than students.

I do thank all of you and I just would like to say when the meet and greet come in my area I will host and help house some people if they would like.

My health will come first and my wife said if need be she will retire to help me run the day to day of the school because my haapiness is more important than her job at this point that made me happy and so goes on Twin Dragons.

Terry, I'm really GLAD. Good luck, look after yourself---seriously!---and may Twin Dragons breath fire for a long time to come!

[SFC JeffJ]

Glad to hear you made a decision, and glad you are keeping your school!

Jeff

[Carol]

Wow Terry, I'm getting a lump in my throat reading this all. I'm very very happy for you and am glad to see Twin Dragons carrying onward. Wishing you all the best for things to go as well as they can possibly go in the future :) :)

[Brian R. VanCise]

Hey Terry,

Congratulations on making your decision. I think you are going to be happy once you find an assistant to help with the day to day burden of running a school. Good luck in your search.

[Kacey]

Terry, it sounds like a great decision, and even more, like you have a wonderful wife - lucky you! Enjoy!

[Jade Tigress]

Lisa you kill me, anyway I had an offer and I made a decission and that decission is simple I'm keeping the school after talking to my GrandMaster and some fine folks here on MT and of course my better half I will decline the offer and find a able teacher to help out and continue to train the people that have become more than students.

I do thank all of you and I just would like to say when the meet and greet come in my area I will host and help house some people if they would like.

My health will come first and my wife said if need be she will retire to help me run the day to day of the school because my haapiness is more important than her job at this point that made me happy and so goes on Twin Dragons.

That's great news Terry, and your wife is awesome.

[MSTCND]

WHOO! HOO!!!!

:-partyon:
:-partyon:
:-partyon:
:-partyon:
:-partyon:

LONG LIVE TWIN DRAGONS!!!!! :karate:

Glad to hear that you're staying in the game, Terry!

Even though the "new" path that you have chosen may have its' bumps (don't they all?)... I know in my heart that you will be happiest this way!

Best regards,

Andy