salon sale fell through & now 4 months pregnant

[nicjill]

As some of you know, since finding out that I am pregnant, I decided to sell my salon. This was a couple of months ago and I found a buyer straight away (friend of a friend kinda thing). We told our solicitor we wanted it completed as soon as possible as I am pregnant so don't want it to drag out. Needless to say, a couple of months later it was still dragging on. It all seemed ready a week or so ago, then she decided she wanted the lease altering which dragged it out even longer.

This morning we got a solicitor's letter saying that she wasn't happy with the way the business was now being run and was only willing to offer half the original agreed price or she'd drop out. Her complaint was that the stock was run down (in actual fact the the only stock that had gone was nail stock which wasn't included in the price plus a couple of handbags which we sold as per the agreement) and that the price lists weren't stocked up (we did have price lists out but we have been printing a few each day rather than stocking up as she was going to be changing all the prices, etc!). Obviously its just an excuse to pull out of the agreement before anything is signed. Why couldn't she just say that rather than messing me around?? I now have to pay a couple of thousand pounds in legal fees for absolutely nothing and I cannot go ahead with the plans for my next business which were ready and waiting to go.

Anyway, I am obviously not going to accept half the money (no matter how pregnant I am I'm not that desperate!) so looks like it is all about to fall through. It is a good little business, it will just be difficult for me when I am heavily pregnant as there is only 2 of us working there and I am the only one doing nails. So, do you think it is worth trying to sell again, risking it falling through at the last minute and leaving me with no time to get maternity cover? Or do I take a step back, rent out he nail station and take on more staff to cover my hours? I am only 4 months pregnant so I can still work for months yet but its difficult to find a good tech who is willing to take on a temporary contract so I may have to offer a permanent contract.

I may already know someone who is interested in buying the salon so could still go through with selling but I don't want to be in this same situation in a few months time when I need to give up work.

Oh, and I'm having a 'fat' day today :lol: and my morning sickness came back with a vengence this morning :irked:

 

[oey]

This hassle is the last thing you need at the minute.

How much was the stock that she says you have sold? Could you not go back with a counter offer to negotiate that amount? If it does fall through it would be worth changing the price so it reflects the price of the stock on completion, then there is no argument.

If you employed somebody and took a back seat would it allow you to run you existing business and your new one too?

 

[thg]

hi,
I'm a great believer that things happen for a reason.
perhaps things will be better tomorrow
thg ann

 

[nicjill]

The salon's stock I sold was worth about £20! The annoying thing is, when we first agreed a price, the stock was to be negotiated on completion then she added it to the contract and I didn't see the point in arguing as it still allowed me to sell as normal until it went through. As I said, nail stock was never included in the price and that is the only significant amount I have sold. I don't know if she thinks I've sold more of the salon's stock with me having a few gaps where I've moved nail stock out or what. I still think it's just an excuse to pull out.

As for running the two businesses, I could do that in theory assuming there were no problems with the existing salon, but there's always staff holidays, sickness, etc. I can't be in 2 places at once. The idea of setting up the new business is that it is a room in my family's shop where I can work as & when I want with no overheads to worry about.

 

[oey]

I would have to go back to her to ask her to justify why she has asked for such a large reduction. Do you think she is just using this as an excuse for a way out?

 

[nicjill]

Exactly my thoughts. She's the one who has dragged it out for over a week, I think it was while she decided what to do. I don't really care that she's dropped out, its more the inconvenience of dragging it out so its cost me even more, then coming up with such a ridiculous excuse. I don't think that going back with a different offer will make any difference, especially as she's asking for half off, that clearly isn't somebody who is willing to negotiate on actual prices!

Oh well, I will have to see how it goes.

 

[nicjill]

I am soooo angry!

My stupid father (who's name is on the lease for reference purposes) has agreed to accept the ridiculous offer. I can't do anything about it as the business is in joint names, even though he's only ever been in the salon about 3 times in over 5 years. He has legally committed us to the sale unless the buyer drops out.

I can't put it into words how angry I am. I want to shout but I also don't want to see him or speak to him for a long time. And my tummy has been hurting as I'm so stressed out. I even finished college early today to speak to somebody who was interested in buying at a much higher price. Dad didn't bother to tell me he had already sold it behind my back.

Sorry to rant but I have to get it out! I don't care about the money now, he could have given it away for all I care. I am just fuming that he's agreed to something like this only an hour after I spoke to him and said I would never accept it. I know he thinks he's doing me a favour getting me out of another 5 years on the lease with a baby on the way but I really couldn't care less, he should never have agreed to sell my business without my permission. I spent over 5 years building that place up and he's just snatched it away from me. Now the buyer is already gloating that she got it for nothing.

I know I shouldn't let it get to me as I already have my new business lined up and ready to go in a week or so but I can't believe he'd do that to me.

 

[oey]

Nichola - please dont stress about what has now been done. You need all the rest you can get and although you may feel really angry against your Dad right now nothing can be changed,so please take a few days to get over what has happened and calm down - it wont do you or the baby any good to add to your stress right now.

Speak to your Dad in a few days time or even a few weeks when you have had time to absorb what has happened.

Have a :hug: Please believe that things happen the way they do for a reason.

 

[hippy-chick]

If its a joint venture surely BOTH of you have to agree?

I'm sure if you look into it there will be someway to get out of it.

 

[crazysaz]

sorry just put in a post then read down and realised it was no longer relevant!
sorry to hear about what your dad done can he def sell it without your permission?

 

[nicjill]

Thanks for your replies guys. Much calmer today! Still not happy but I don't tend to hold onto anger for long.

Yes my dad can sell the lease without my permission as the lease is his name only (having no previous business in my name it was easier for him to get references than me). The business is in joint names but with no premises I have no business! Not to worry, it is done now, I will just have to use my own money to set up my next venture if I'm short. Not ideal with a baby on the way but at least I won't have rent to pay.

My next venture is already lined up so I'm not gonna be out of work for long, just means I have less start-up capital.