The fear of selling a business and letting go! Jason and Angie’s Tale of Selling Their Business After 25 Years

It’s real: the fear of selling a business. After dedicating a quarter-century to their beloved local café, Jason and Angie Martin made the tough decision to sell. Their café was a go-to café in a regional seaside town they had lovingly nurtured from its inception.

To them, the café was more than a business—it was an integral part of their identity. They built it, they worked it, and they loved the fun times it brought. Yet, as they yearned for a slower pace of life and more family time, they faced the inevitable: it was time to retire.
Our story today explores our clients Jason and Angie’s(not their real names ) emotional journey through selling their business. What is the fear of selling a business? We focus on the intricate mix of relief, regret, and fear associated with such a monumental change.

The Initial Decision

The decision to sell did not come easily. It resulted from a decision based on years of long hours, missed family events, sacrifices, and the physical demands of running a café. COVID had been and gone but left a dirty stain on the emotional time the owners experienced during ongoing lockdowns. The emotion of staff welfare, immediate lockdowns and high costs had all taken its toll.

The fear of selling a business can weigh heavily on one’s mind. The realisation struck one quiet morning as they began their day. Despite their readiness for change, the decision brought an unexpected wave of sadness, fear, and hesitation.
The café has many memories and milestones for our clients. They felt like a part of their soul, and letting go seemed akin to losing a piece of themselves. What did the future hold?

Preparation and Regret- overcoming the fear of selling a business

Preparing the café for sale was arduous.  The fear of selling a business emotion can be reduced by careful planning. As Value Builders and Certified Exit Planners, we aim to assist our clients through the journey. It’s an emotional time, matched by moments of doubt. Were they making the right choice? The walls displayed photos of regular customers and past celebrations, echoing happy times but a realisation of uncertainties. Regret naturally seeped in, not just about selling but the unseen future. What would life hold without the daily grind of coffee beans and the familiar greetings exchanged with customers? Will we have enough to retire on, will the café present well, and will we find the right buyer? Many will have these fears. But careful planning can remove these self-doubts.

Facing Fears

Jason and Angie grappled with several profound fears during this transition:
1. Loss of Identity: Their primary fear was losing their sense of self, deeply rooted in their roles as café owners. They wondered, “Who are we without our café?”
2. Fear of Regret: They were terrified of regretting the sale, haunted by the permanence of their decision.
3. Anxiety Over Financial Security: There was significant anxiety about financial stability. Would the sale proceeds sustain their retirement?
4. Fear of Irrelevance: After years as community staples, they feared becoming irrelevant and worried about losing their social standing and connection to the community.
5. Uncertainty About the Future: The unknown of post-sale life brought anxiety. How would they fill their days and ensure they remained engaged and fulfilled?

Our clients knew they needed to plan to get a glowing sale price. They needed to clean up the tired facade, put some newfound joy into the menu, replace old tables, etc. These few months of planning, they told me, made a difference in the final sale result.

The Sale and Its Aftermath

The day the sale was finalised, Jason and Angie experienced a complex mix of relief and profound loss. Handing over the keys felt like closing a significant chapter of their lives. The initial weeks post-sale were challenging, marked by disorientation and a struggle to find new routines. Visits to the café were bittersweet; seeing it thrive under new ownership as reassuring yet strange.

Rediscovering and Rebuilding Life post-sale

Gradually, they began to rediscover themselves beyond the café. They revisited old hobbies and started volunteering, forging new community ties in different ways. As they built a new identity, the fear of the future began to wane, replaced by excitement for new opportunities.

Pre-retirement planning is so important. Have you considered what it would be like to no longer go to your shop, office, or factory? Talk to the familiar people, staff, and customers.

Embracing Change

As our clients discovered, selling a business is not just a financial transaction but a deeply personal journey. Their story is a testament to the fact that while the end of a business venture can feel like a loss, it also marks the beginning of a new and potentially fulfilling chapter of your life.
For any small business owner like Jason and Angie, selling a business that they have poured their heart and soul into is a journey filled with emotional complexities, from fear and regret to acceptance and renewal. It serves as a reminder that every ending is the start of a new chapter, full of new beginnings and opportunities.