The will to carry on.. An LBS Owners tale.
I know I've whined before to you ladies about this. But last week we very nearly closed our doors.
We were hit with bank fraud in November and December, sales were horrible in December, and January wasn't looking very promising. We have run cash poor since the begining, so there is no cash reserve we can tap into in an emergency.
It also didn't help that it seemed like very customer who walked in the door expected us to give them a bike at wal mart prices, or were complete nut cases. I mean seriously we would look at each other and say "why are we doing this again??!"
So when faced with mounting bills and little cash we were ready to throw in the towel.
We had a consultation with an attorney, and when he laid everything out we just couldn't bear to see the bike shop just go away. When he talked about liquidation my lip quivered, and running hubby saw the tears well up in my eyes. This was our "plan B", our dream. And if we let it go, we would be left with nothing.
I had a pit in my stomach and didn't eat for two days. I was a mess. I just kept thinking about all of those that we would let down if we closed. I felt guilty actually. How would I tell them? Could I face them? I just wanted to crawl in a hole, and actually at that moment I thought to myself "now I can see why people commit suicide over business and money stuff".
And then my brother stepped in. He has been in business for himself since he was 21. He offered to buy the business from us, but keep us on to run it. His company is in a much better position, so there is a better chance at aquiring cash the shop needs to become healthy again.
I can't tell you how much it means to me that he would be willing to help me out like that. He is my younger brother, and we have always been close. But this is the ultimate show of brotherly love. He helped us with the build out of the new space last May, and mentioned that he would love to invest in it. He saw our customer base, and the potential. He saw how hard we work, and what we bring to the shop everyday.
I felt like a weight had been lifted. But sales were still slumping and I couldn't help but wonder if it was worth it. I didn't want to put my brother through everything just to decide in 6 months that the business really isn't viable, and should close.
This past weekend running hubby and I ran the shop solo. On Saturday it started with the first 3 people in the door asking for a "cheap" mountain bike..
Ugh... My pit was growing again. And then it started to get better. We had no bike sales that day, but we had a ton of quick service work, tire changes, adjustments etc. And people started thanking us for our quick service. It seemed like one compliment led to another. It was a great day that gave me hope. Sunday and Monday were a lot of the same.
I was starting to realize that I really did need to put on my "big girl panties" and resolve that I CAN and WILL do it! We CAN survive, and that we have to!
And then this morning I saw this on my facebook wall. It comes from a customer, turned friend, turned family (we have a LOT of those!)
"Thanks for everything over the last year. If I hadn't discovered the shop and bicycling again I don't know where I would be, that was one of the lowest points in my life with the separation and all. Just remember you sell more than bicycles to some people. "
If that doesn't give me the will to carry on, I don't know what will?!
So off I go, getting ready for inventory, taxes, and all that not so fun stuff that comes with business ownership. But "stuff" that will allow me to carry on the mission to make the lives of others better.
In the end, I guess the moral of the story would be..
If you have a mom and pop shop that you love, give them a compliment. You never know. They may be masking pain behind that cheery smile they give you every time you walk in the door. And it's the little things that mean the most!
The will to carry on...an LBS Owners tale
I'm glad to hear that you have some options !! It certainly is a tough time, and there are many people/business out there with the same issues. Although , I think until people are in the same position, it certainly is hard to understand and realize what truly goes on when things are that difficult.
The world as a whole is not that stable, and I think it will take some time for everyone to get back on their feet. The structure of business has changed and will continue to change, and those that are willing and able to adapt will be on much better footing.
Good luck with everything, and I hope the added investment will help with all of the financial problems. What's even more important is the relationship with friends and your family!! Those are the things that are priceless!!
