Looking for ideas/recommendations

[eeboater]

My Grandmother has unfortunately fallen upon hard times. She lives in Sugarland, TX and owns as Ceramic shop where people can come in, do their own ceramics, etc, and she charges them a fee. <br /><br />Well, apparently there is no market for Ceramics in the Houston Metro area because of the 5 ceramic shops that used to be in existence, she is the last one - and time is getting thin.<br /><br />She just sent an email out to all the "kids" of the family, i.e. my mom and her brothers/sisters asking for money. She is having trouble meeting the expenses of every day life, and the business is sucking her dry.<br /><br />Can you guys think of anything she can do? She has a mortgage which is a very minimal payment. She's in a 25 year-old house which is starting to require repairs. The business is apparently just breaking-even. So all her time goes into that with no real benefit. <br /><br />Has anyone ever sold a business before? She has hundreds of Ceramic molds that she could probably part-out, but honestly, they won't get her much. They go for about 3 bucks a pop on ebay, and thats when they do sell. The majority of the time they don't sell at all on ebay.<br /><br />As far as additional income, my grandfather passed away 2 years ago, so she gets a small pension from him and whatever she gets from the lathargic social security administration.<br /><br />Any reccomendations would be greatly appreciated... Anyone want to buy a ceramic business in the Houston, TX area? <br /><br /><br />Sean

 

[gewf631]

Re: Looking for ideas/recommendations

My brother-in-law's mother was also heavily into ceramics, and had a set-up similar to your grandmother's.<br /><br />This is going back some 15-20 years, but she ended-up getting out of the shop, and moving the operation to her basement. She still held classes (less formally), and charged people to use her kiln, but everything was by appointment, so she wasn't tied to the shop. <br /><br />Maybe short-term, your grandmother could just increase her rates. If hers is the only shop left, the clients must know that there's not a lot of money in this, and without competition, she's got a mini-monopoly!

 

[QC]

Re: Looking for ideas/recommendations

What about a reverse mortgage? I don't know enough to comment, but if she has enough equity in her house it may be a good deal for her.<br /><br />How old is she?

 

[eeboater]

Re: Looking for ideas/recommendations

Actually, interesting you mentioned that. I suggested that to the family already. I work at a mortgage company and thought that would be perfect for her situation.

 

[Braxton]

Re: Looking for ideas/recommendations

ee mabe she can get one of her clients that come in to buy the business, they must like to do that type of thing, she just has to have a good SALES PITCH... you know what i mean? Good luck Braxton

 

[DJ]

Re: Looking for ideas/recommendations

eeboater,<br /><br />It may be you are looking at the wrong customers.<br /><br />There are plenty of people in the Christian community that still hold those crafts as important.<br /><br />I would have her show her wares and expertise at numerous "non denomonation" churches, in your area.<br /><br />Call them and ask for a "mini" trade show. Many non-dem's welcome that.<br /><br />She may be involved (trade show) with other businesses, but, "we" tend to be loyal.

 

[kenimpzoom]

Re: Looking for ideas/recommendations

Introduce her to my wife and she'll have all of our money!!! <br /><br />Just kidding, but not really.<br /><br />She needs to find new customers, but being in Sugarland it may be difficult to get people to come down there.<br /><br />Trade shows are a great idea.<br /><br />Ken

 

[kenimpzoom]

Re: Looking for ideas/recommendations

Also, tell her to look for someone to share the store with. Like maybe someone wanting to start an art shop, or some other crafts.<br /><br />Ken

 

[eeboater]

Re: Looking for ideas/recommendations

Sooo... Ken... when does your wife want to meet my Nana?<br /><br /> <br /><br />Sean

 

[NYMINUTE]

Re: Looking for ideas/recommendations

Originally posted by eeboater:<br /> Sooo... Ken... when does your wife want to meet my Nana?<br /><br /> <br /><br />Sean

Have them meet YOU at a a Boat Dealer Sean. Then you can get a boat, close the mortgage, and Ken's wife can spend all his money. Its a great fit! Ya think?????

 

[kenimpzoom]

Re: Looking for ideas/recommendations

NYMin, but then I would no longer have the money to buy the boat? I mean <br /><br />Ken

 

[KRS]

Re: Looking for ideas/recommendations

Maybe a local community college or parks and rec department is looking to acquire equipment to offer classes?

 

[roscoe]

Re: Looking for ideas/recommendations

Maybe Nana will be moving to WI.<br />You provide room and board, and she provides a boat and free babysitting. That way you can get your dog out of daycare, or make some real babies.

 

[Kiwi Phil]

Re: Looking for ideas/recommendations

You and your family have a problem on your hands.<br /><br />There is a golden rule when in business: "know when to shoot the bxggar between the eyes and walk away".<br />I say this because there are a high % of businesses that should close up, and some owners can never give in and move to something that will be prosperous.<br /><br />First up maybe she should have a look at marketing/attracting business from a different perspective. Maybe her current approach does not work anymore. There are some sound suggestions above.<br /><br />Maybe she should look at selling the business as a 'whole going concern'. The stock and plant must have some value, and if she is leasing premises, then maybe that has a value to someone.<br /><br />Maybe she should look at the suggestion of moving the operation to her home.<br />There are big benefits from operating a home based business. She immediately illiminates rent/rates/phone/insurance/utilities etc, which may equal over 80% of her gross.<br /><br />If she operated from home, could she sell the product at a craft/flea market. <br />Could she change the product to something like Garden Gnomes (wide range in style/pose/size) or those garden signs like <br />'Yes, I do have Fairy's at the bottom of my garden' or <br />'real men grow herbs', or <br />maybe garden ornaments.<br /> <br />Why don't you suggest she take a day off and take a look at the markets etc in her area for ideas. Strikes me she does have the stock and plant and knowledge, so if she can re-invent herself in a different direction.....<br /><br />If her income is small and her business is not breaking even, then shovelling extra funds in to it may not be very smart.<br /><br />As another suggestion, if she closed down, would she be able to take a job, casual or part time.<br /><br />I may have misinterpreted your origonal post, but to me it seems she is in difficult situation and something positive has to be done, and quickly.<br /><br />Hope I have been of some help.<br /><br />Cheers<br />Phillip

 

[Andrew Leigh]

Re: Looking for ideas/recommendations

Hi<br /><br />Tell you what I did with my parents when they fell on hard times.<br /><br />Got hold of all my siblings, told them what the problem was. I then told each that it was payback time for the wonderful opportunities they afforded us in our growing stages and asked who could afford what.<br /><br />Not every one could afford to give and each gave to their ability through a monthly deduction on the accounts, we still do and will revise this when necessary.<br /><br />Parents were very embarressed but grateful for the help. I think it is our responsibility to take care of our elders when they can no longer do so for themselves.<br /><br />Can the shop, it's probably costing more than it's earning. Get all the cousins etc. to all chip in and make grandma's golden years pleasurable.<br /><br />Good luck

 

[tomatolord]

Re: Looking for ideas/recommendations

I would go to the major pottery locations in the US and see if someone is interested in buying the whole works.<br /><br />Seabord NC, New Mexico etc places that are the pottery capitols of the US.<br /><br />Selling freezers to eskimos can be hard at times, so she needs to move the biz to where the biz is.<br /><br />There are plenty of companies that sell business so she could contact one of them as well.<br /><br />At that age the thing to do is figure out the nicest place to be over the next 10 years.<br /><br />A friend rebuilt their barn into a 1 bedroom apartment for the MIL. She sold here house and moved.<br /><br />If you could do this then the MIL could also move the biz as well and then she could give classes etc.<br /><br />another just built a wing on to their home so the MIL has her own place.<br /><br />This way Grandma has her own place but she does not have all the costs associated with it.<br /><br />I am also staring this in the face with my parents however it is more a question of them not being able to maintain their own home as they get older. Basically the home is too much for them at their age.<br /><br />I think if she has good alternatives she will want to move.<br /><br />I think if you sit down with her financially and show her that if she sold all of this and moved that she could have a much better life style then she does now, I know all of my friends parents, even the ones that moved into assisted care facilities all love it now that they are in there.<br /><br />The older generation thinks that they will be losing their independence, but it is actually the complete opposite.<br /><br />No house maitenance<br />Yard work is done for you, while you can always putter in the gardens<br />lower utility bills<br />lower insurance<br />My friends MIL - has a real nice place, not as large as a house but it is hers, she keeps it as she wants, but if she wants company they are right there across the driveway.<br /><br />DO NOT DO THE REVERSE mortgage, that only makes the situation worse as the person ends up with no assets in the end.<br /><br />good luck

 

[eeboater]

Re: Looking for ideas/recommendations

Thanks for all the feedback everyone! This one is truly out of my control as I am simply one of the "grandkids" but I thought I could provide as many ideas as possible.<br /><br />Again, thanks!<br /><br />Sean

 

[Ralph 123]

Re: Looking for ideas/recommendations

It will be tough to find a buyer for a shop that is barely breaking even.<br /><br />However, since she is the last one, she has no competition. I have to assume there's a market if at one time there were several being supported.<br /><br />Is there a way to get creative on the marketing end and drive some new business? Can a small investment in advertising pay off? Can special offers like "free trial class" generate more business? Is there a senior center nearby where she can do a deal for classes (My grandfather lived in a Senior building and they had deal like that all the time. They all got on a bus and did stuff.) Get creative with current customers and offer free stuff for bringing in new customers., etc., etc. Maybe she can start selling other related stuff - maybe distributors will give her items on consignment...<br /><br />Ask yourself these questions: Who are her potential customers? Where are they? How can she reach them? What do they want and how can she supply it?<br /><br />If she doesn't have the energy to do this, maybe she can take on one of her younger customers as a sweat equity partner to help do some selling/guerrilla marketing... the Jr partner would be paid back in ownership % based on efforts...