It’s a pain to deal with the city council, we have sold the business almost 2 months ago and the transfer of license hasn’t been finalized yet. The new owner has to hire an architect to resubmit the floor plan to the building control department as the new ruling requires that for the purpose of licensing.
Hope it can be done before we leave for IL, so that we can collect the last part of the payment for the sale of the business.
The new buyer of our business had hired an architect to submit the plan of the premises to the city council. It will take about a month to know whether the modified plan is approved. The city council changed the rules on building control every now and then, hopefully it gets approved in time.
The process and transfer of licensing can only be carried out once the building plan is approved. The buyer will only pay us the last part of the payment upon completion of the transfer of licensing. We hope that can be done before the move.
Have been busy running around since Monday, running to and fro a few government agencies to get all the paperwork done. Haven’t have time to sit in front of the computer nor check in the various networks for assignments.
The buyer of the business had paid us a down payment on Monday as we signed the sell and purchase agreement. On Tuesday, we changed the company registration record to add the buyer as new owner. On the same day, we called the architect in so that we could start submitting the plan of the premises and start the name transferring process. On Wednesday, the buyer met the landlord, we did an assignment of the lease then went ahead to send it for stamping.
The name on the license needs to be transfered to the owner before she pays me the remaining purchase price. It usually takes more than a month to get approvals from all the licensing agencies if all the paperworks are in order. We hope the transaction can be closed and settle before the end of April.
Was at this particular bank today, second time in this month, was told the bank’s computer system was down and the transaction couldn’t be carried out. Was asked me to go in another hour or two. They could have done things manually like it used to be and enter into the system later, couldn’t they? May be they are just lazy and took the downtime as their well deserved break!
I bet they won’t think it’s fun to have downtime so often if they are running their own small business. May be the bank needs to look into getting Sophos to minimize the possibility of any attacks from virus and/or malware and to be able to recover as quick as possible if there is any future attacks.
In the competitive business world, it’s SO bad to tell your customers that they have to come back another time, for they may just walk out and never return!
We spent the first half of last year wrestling with the decision whether to close down the preschool. We decided in June and it was folded up officially in August.
The big boy has delayed his plan to return here for the umpteen times, we decided that it’s better for me to move to IL to be reunited with him. That decision was made before or around Thanksgiving. The disposing of “stuffs” started then.
Everything has gone on rather smoothly after we made the big decision. Sold the first floor of the tutoring business in November 2007. Moved out of the first floor and sold some of the furniture, one thousand over children story books and the Montessori materials in December 2007. Sold more books and furniture in January 2008.
Was caught up with all the CNY activities during the first half of February. Last week of February, got an unexpected offer from a prospective buyer who had made an inquiry and had seen the place many months ago but didn’t get back to us!
By the rate it goes, our ties with the business will come to an end before April. Once we are done with the transfer of name and licensing, we will hand over of our present students to the teacher whom we are training to take over the SWR classes.
Things seem to sail smoothly, sometime I can’t believe it myself, that we are able to dispose everything (ok, almost everything) in such a short time frame. Considering the struggles we went through in the last few years, it feels very much like the light at the end of the tunnel !!
We have sold the first floor of the tutoring center to one of our teachers last year and have been trying to sell the ground floor before the move to IL. We have a few people showing interest in purchasing the ground floor setup which we used to run an after school care and preschool. Have been meeting them up and busy showing them the place.
As of today, one of them had put down a good faith deposit, so it’s officially SOLD! We are expected to get out of the business by the end of March, since I am leaving by end of April or early May, the timing is PERFECT!
Many of us dream of owning a business and becoming an entrepreneur one day, but not many of us have the courage to venture out to the darkness.:-) One of the ways you can start a business is to take up a franchise or look for a small business for sale. There are a lot advantages of starting a franchised business or buying an existing business. Branding is done for you and you will have guidance and help, do not have to start everything from scratch, that’s for sure!
Ready to bid goodbye to your boss and take charge of your destiny in 2008?
Do people still send and receive greeting cards? I have not been on both sides for a couple of years now, I thought I would start doing the cards thing again this year. Oh, boy, it’s hard to find unique and appropriate cards to send to business associates for the holidays. Then, I found the Gallery Collection, the mail order publisher of good quality greetings cards, they have a bunch of Business Christmas Cards that can be personalized.
The company has have recently involved with Soldiers Angels, the organization that provides aide and comfort to the men and women of the United States Army, Marines, Navy, Air Force and the Coast Guard and their families.
Well, disregard of our stands towards the wars, the soldiers deserved appreciation for their sacrifices and contributions. The Gallery Collection has donated greeting cards to be sent to each soldier for the Holidays. They also provide a blank card and envelope for the soldiers to write home. These cards will be included along with “care packages” sent by Soldiers Angels.
