localeconomies

#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 #owners of #regionalbusinesses share their own personal experiences from going through a #businesssale process.

In this 3rd interview (over 2 weeks)  Russell Spoke from @Maggie'sKitchen from #queenscliff in #victoria shares his very open and personal story from leaving the public service to buying or starting 3 businesses. Along the way he and his wife experienced success, the loss of everything and then recovery. Against the flow they chose to close rather than sell their 3rd business. He explains how and why they came to make this decision. We cover;

• leaving the #publicservice after seventeen years
• growing up in a #smallbusiness #familybusiness in #countryvictoria - his parents owned two #generalstores
• buying their first small business - a #fishandchipshop which was reasonably successful but selling because the hours didn't work with very young children
• going in #bootsandall and buying  a #fruitshop (thinking this business that would involve less hours)
• not doing the enough #duediligence
• watching a big fruit farm open up a competing shop nearby  - the business went backwards, they could not compete and ultimately went #broke and #losteverything - eventually giving it away just to get out of it
• having a house and then having to #sellthehouse
• the birth of Maggie's Kitchen when Maggie started making some #preserves and selling them in the fruit shop
• Maggie making preserves and Russell going to get a job as a #waiter
• working full-time, seven days a week in the shop
• moving around the corner and seeing the business grow rapidly
• "not getting greedy" - being ok with "doing okay"
• being scared of expanding too much for fear of losing it all again
• considering selling and getting some "nibbles" which went nowhere, taking the business back off the market
• sticking with the devil we know
• acknowledging that sometimes there are influences out of your control

@kerrcapital

Thanks for listening.  Visit the Small Business Banter website to subscribe, listen back, or check out any resources or information mentioned on the show.

Search @SmallBusinessBanter on your favorite podcast player to subscribe and listen to the episodes.

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.smallbusinessbanter.com.au

#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 #owners of #regionalbusinesses share their own personal experiences from going through a #businesssale process.

In this 3rd interview (over 2 weeks)  Russell Spoke from @Maggie'sKitchen from #queenscliff in #victoria shares his very open and personal story from leaving the public service to buying or starting 3 businesses. Along the way he and his wife experienced success, the loss of everything and then recovery. Against the flow they chose to close rather than sell their 3rd business. He explains how and why they came to make this decision. We cover;

• leaving the #publicservice after seventeen years
• growing up in a #smallbusiness #familybusiness in #countryvictoria - his parents owned two #generalstores
• buying their first small business - a #fishandchipshop which was reasonably successful but selling because the hours didn't work with very young children
• going in #bootsandall and buying  a #fruitshop (thinking this business that would involve less hours)
• not doing the enough #duediligence
• watching a big fruit farm open up a competing shop nearby  - the business went backwards, they could not compete and ultimately went #broke and #losteverything - eventually giving it away just to get out of it
• having a house and then having to #sellthehouse
• the birth of Maggie's Kitchen when Maggie started making some #preserves and selling them in the fruit shop
• Maggie making preserves and Russell going to get a job as a #waiter
• working full-time, seven days a week in the shop
• moving around the corner and seeing the business grow rapidly
• "not getting greedy" - being ok with "doing okay"
• being scared of expanding too much for fear of losing it all again
• considering selling and getting some "nibbles" which went nowhere, taking the business back off the market
• sticking with the devil we know
• acknowledging that sometimes there are influences out of your control

@kerrcapital

Thanks for listening.  Visit the Small Business Banter website to subscribe, listen back, or check out any resources or information mentioned on the show.

Search @SmallBusinessBanter on your favorite podcast player to subscribe and listen to the episodes.

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.smallbusinessbanter.com.au

#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!!

@kerrcapital

Thanks for listening.  Visit the Small Business Banter website to subscribe, listen back, or check out any resources or information mentioned on the show.

Search @SmallBusinessBanter on your favorite podcast player to subscribe and listen to the episodes.

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.smallbusinessbanter.com.au

#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 #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!!

@kerrcapital

Thanks for listening.  Visit the Small Business Banter website to subscribe, listen back, or check out any resources or information mentioned on the show.

Search @SmallBusinessBanter on your favorite podcast player to subscribe and listen to the episodes.

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.smallbusinessbanter.com.au

#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.

This first interview (over 2 weeks) is with Carolyn Fryer from #FishCreek in #SouthGippsland who bought, revitalised, and, eventually, sold the Fish Creek General Store and Newsagency. Over the 2 weeks we cover;

• her plan of moving back to @FishCreek to #retire having bought a #smallfarm
• being approached by some #local people about purchasing the Fish Creek General Store and Newsagency, which was having a bit of a struggle and looked like it might close which would have been quite devastating for the small town (a nail in the coffin)
• the devastating impact on rural towns when they lose their general store and their newsagency
• saying yes, taking on the challenge thinking it would be "interesting" and that she could "turn it around fairly quickly", offload it, go back to the farm
• putting off your retirement plans
• the 6-year project - 2.5 years to revitalise and 3.5 years to  to sell it  (having assumed 6 months). So I ended up being there for six years - way longer than she had anticipated
• the weight felt and challenges faced by Carolyn when approached by some people who wanted to take over and 'ditch' the grocery and newsagency - as much as she wanted to sell and get out she wouldn't do that to the town, otherwise, I would have defeated the purpose of going in there to maintain this service for the locals
• keeping staff in the loop and motivated during uncertainty
• keeping the business improvements going
• #stickybeaks regularly commenting "this is a lovely business"
• her business career and buying and selling businesses in the order of 10 businesses over the years
• her recommended #stepstoselling and the need to allow a lot more time and to be patient

@kerrcapital

Thanks for listening.  Visit the Small Business Banter website to subscribe, listen back, or check out any resources or information mentioned on the show.

Search @SmallBusinessBanter on your favorite podcast player to subscribe and listen to the episodes.

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.smallbusinessbanter.com.au

#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.

This first interview (over 2 weeks) is with Carolyn Fryer from #FishCreek in #SouthGippsland who bought, revitalised, and, eventually, sold the Fish Creek General Store and Newsagency. Over the 2 weeks we cover;

• her plan of moving back to @FishCreek to #retire having bought a #smallfarm
• being approached by some #local people about purchasing the Fish Creek General Store and Newsagency, which was having a bit of a struggle and looked like it might close which would have been quite devastating for the small town (a nail in the coffin)
• the devastating impact on rural towns when they lose their general store and their newsagency
• saying yes, taking on the challenge thinking it would be "interesting" and that she could "turn it around fairly quickly", offload it, go back to the farm
• putting off your retirement plans
• the 6-year project - 2.5 years to revitalise and 3.5 years to sell it  (having assumed 6 months). So I ended up being there for six years - way longer than she had anticipated
• the weight felt and challenges faced by Carolyn when approached by some people who wanted to take over and 'ditch' the grocery and newsagency - as much as she wanted to sell and get out she wouldn't do that to the town, otherwise, I would have defeated the purpose of going in there to maintain this service for the locals
• keeping staff in the loop and motivated during uncertainty
• keeping the business improvements going
• #stickybeaks regularly commenting "this is a lovely business"
• her business career and buying and selling businesses in the order of 10 businesses over the years
• her recommended #stepstoselling and the need to allow a lot more time and to be patient

@kerrcapital

Thanks for listening.  Visit the Small Business Banter website to subscribe, listen back, or check out any resources or information mentioned on the show.

Search @SmallBusinessBanter on your favorite podcast player to subscribe and listen to the episodes.

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.smallbusinessbanter.com.au

What happens when Amazon enters or leaves an Indian city? In this episode, Manoj Kewalramani talks to Anupam Manur and Rohan Seth about how Amazon's new fulfillment centres impact everything from local employment to public health.

You can listen to this show and other awesome shows on the IVM Podcasts app on Android: https://ivm.today/android or iOS: https://ivm.today/ios, or any other podcast app.

You can check out our website at http://www.ivmpodcasts.com/

See omnystudio.com/listener for privacy information.