Selling a long-established small business is an emotional roller coaster, filled with a mix of excitement, nostalgia, and uncertainty. For many entrepreneurs, their business is much more than a source of income; it represents years of hard work, dedication, and personal growth. It can often feel like your business is like a child.
After 20 plus years, I have decided to sell The Root Salon. As the decision to sell approached, a sense of excitement about new opportunities and the freedom to explore different paths was fueled by a chance to reinvent myself as I aged. However, this excitement was coupled with nostalgia as memories flood back—of challenges overcome, friendships formed, and milestones achieved. Letting go can feel like saying goodbye to a cherished part of your life, and that can be tough. Like letting your children find their own path.
I also had a sense of uncertainty that accompanies the sale process. Additionally, I had anxiety about finding the right buyer who will respect and value of what I have built, and I was concerned about the future of my employees and the legacy of my brand. My team members over the years have always felt like family to me. My business colleagues have given me so much criticism about this stating that this was my weakness. I don’t regret this at all. I have had so many rewarding experiences mentoring and bonding with so many amazing individuals. It has helped build my current character. As my business mentor told me once, “It’s all grist for the mill”. But I believe I have chosen buyers who will treat my “work family members” as I would. Trust me, these feelings were a process that felt daunting and overwhelming.
Yet, amidst these ups and downs, there’s also relief and pride. Relief in knowing that my hard work has led to this moment where I can reap the rewards, and pride in the legacy I leave behind has kept me focused. Embracing these emotions and reflecting on your journey can help you navigate this transition with grace and confidence.
Ultimately, selling a small business is not just a financial transaction; it’s a significant life event that marks the end of one chapter and the beginning of another. Embracing both the highs and lows of this emotional journey can provide clarity and make the transition smoother.
Laurèn Hart
The Root Salon
5813 North 7th Street #120
Phoenix, Arizona 85014
(602) 277-4072