Well my friends, as many of you know, we sold our business back in November of last year. When it came time to close on the deal (give us the $$$ and us hand over the keys) the man said his investors had backed out and he could only come up with about half of what we had agreed upon. After some discussion and though, we decided that, since we were neck deep in the deal, we would do an addendum to the contract and let him have the business. What we got was not enough to do a start-up somewhere else, like we had planned. Fast forward 6 months... things have not gone smoothly; we have not been paid what was agreed upon and what we have gotten has always been late.
We fulfilled our agreement to move from the area, even moving to another state. I gave two extra weeks of training (which I did not charge for), made sales (which we did not collect a commission for) and gave lots of consultation.
We are now at the decision to call the note due to default on the buyers part. We do not want to move back to Warner Robins. We actually want to move to the Pacific northwest or northern California (above the 2,000' elevation). If we have to take our equipment back I'm not sure what we will do. We still have to make ends meet so at this point in time I am exploring the possibility of doing traveling to consult with sign shop owners and help them. I have a lot to offer. Also, I would like to offer myself as a "babysitter" for those wanting to take off for vacation, sickness, burnout or any other reason. I can do it all, from front to back. Please PM me if you are interested in this.
I've missed you guys a lot but didn't feel it was good to stay on here since I was not in the sign business anymore.
Posted by Michael Clanton (Member # 2419) on :
sounds like you never really got out of it-- just took a long expensive hiatus...
Sorry your deal didn't go the way you were planning
good to see you back
Posted by Susan Banasky (Member # 1164) on :
Ricky....sorry for all your grief. I have wondered where you got to. In my opinion you are always welcome here (signs or not).....you are still part of the Letterhead family....nice to know you are still around. Good luck in your onging adventures.
Posted by Doug Allan (Member # 2247) on :
agree with Susan... always welcome in Letterville!
don't know enough detail to really have good advice, but a business broker would be part of any deal i got into like that, and if there wasn't one at the start, maybe it's worth talking to one now... I certainly wouldn't think you have to let the buyer keep what you sold him if he defaults on paying you... and if that's where it's at, even though you don't wish to take it on, then perhaps it's yours to sell... again.. so a qualified business broker look into that, and maybe even the fact of him doing some looking might encourage the current buyer to come through further with honoring his original deal?
Whatever happens, I wish you good luck!
Posted by Joey Madden (Member # 1192) on :
Whatever happens Ricky, I still have your diploma from A of A complete with your name on it
P.S. my grow is aweSome Posted by Raymond Chapman (Member # 361) on :
So sorry to hear about your circumstances. When things go bad, they really go bad, don't they?
My best wishes for you. I really don't have any solutions beyond what has been said.
Down here we are still standing on our tip-toes trying to keep our head above water...just like a lot of othe folks.
If your travels ever take you near Texas, please drop by and see us.
Posted by Ricky Jackson (Member # 5082) on :
Thanks for the kind words and advice my friends. My bro in law is up for a few days and we got to talking about the sign biz and how I got into it. I told him about how the Letterheads had changed my life and the friends that I made at my very first meet, about 25 years ago, they are still friends today. I have said many times that Letterheads are some of the most intelligent and creative people in the world. I'll always be proud to be a part of this beautiful movement.
Posted by Rick Beisiegel (Member # 3723) on :
Actually, I was just thinking about you guys, and then you post an update. How cool is that? Hang in there! I want to move south, but not just yet. We are addicted to grand children. Hope all goes well from here forward. Take care!
Posted by Sonny Franks (Member # 588) on :
Ricky, thanks for checking in and letting us know what's up. Hope things get straightened out soon - limbo is not a fun place to live.......
Posted by Dan Sawatzky (Member # 88) on :
Good to hear from you Ricky! Things will all work out in the end somehow... they always do. If you have your border woes worked out I would love to see you if you get up this way.
-grampa dan
Posted by Bobbie Rochow (Member # 3341) on :
Yeay! Ricky is back!
Ricky, maybe you could sell to someone else. Or maybe there is some reason the Good Lord is calling you back to the sign business?
Anyway, I sure am glad you are here, to me, you never left!
Posted by David Harding (Member # 108) on :
Good to hear from you Ricky. I've been thinking of you but then got preoccupied with my own situation the last couple months. I hope things work out well.
Posted by Jon Jantz (Member # 6137) on :
Hey man! I thought the RMCP must have sent down bounty hunters and snatched you away to the great white north. Really good to hear from you.
If you re-possess your equipment and need a place to store a couple of printers, I can provide storage for you for a very low price. I will even run some material through them occasionally to make sure the heads do not clog....
Posted by Kevin Gaffney (Member # 4240) on :
Hi Ricky. If you were to re-start in your original area by subbing out your work at first, maybe the threat you would pose to the buyer of your business, might force his hand to either pack up or pay up. I see you don't want to move back there, but a few months might force his hand. Best of luck
Posted by Sam Staffan (Member # 4552) on :
Ricky, it's great to hear from you,(thought maybe you got the Alaskan Bug) Told by brother if you ever hear the name Ricky Jackson up here Halibut fishing let me know.
Sorry about the business & I know Michigan is the opposite direction in your ways of thinking, but if ever this way it would be great to meet you.
Posted by Rick Sacks (Member # 379) on :
That babysitting business' while others vacation is a great idea!
Glad you don't need to repo house and trucks also.
Does the equipment hold any resale value in today's market?
Keep moving forward.
Posted by Ricky Jackson (Member # 5082) on :
Thanks again guys! The only way the equipment would be worth much would be to use it. It wouldn't bring much just selling it outright. The way technology goes, the stuff you buy today is outdated next month; within a year they have something a lot better, and lower priced than what you bought. So the only way to make it pay is to use it.
I think about what the late Mike Stevens told me once; actually, he wrote it in my Mastering Layout book: "Take a path or heart". If I do that then I'm heading to California; that is really where we want to be. We've talked about Washington, and Oregon but Cali appeals to us most - but just the northern part.
Posted by jack wills (Member # 521) on :
Stop over to see Rixax...
Posted by Darcy Baker (Member # 8262) on :
Wish you the Best.Sounds like a change of scene will do you right.California is beautiful but I had to make a change of scene as I remember how it used to be.Lots of good folk out there.
Posted by Duncan Wilkie (Member # 132) on :
Best wishes Ricky. I hope you find a good spot to settle.
Posted by Dale Feicke (Member # 767) on :
Sorry to hear about your business woes, Ricky. It's really sad that there are so few trustworthy people out there these days.
We'll be praying for your good ending to this deal, and that you'll wind up where you want to be, or need to be.
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