Should I sell up?

[LisaBrad]

Hi,
I currently have a hair and beauty salon which I lease the building and have 4 self employed staff.
I used to work their full time but since having my 3rd child something in me changed (I have 2 older children in full time school and had a baby recently after a 8 year gap) and I no longer became the workaholic I became the stay at home mum who loved being at home away from the stress of work.
Now I’ve recently gone back a couple of days a week and I find it really stressful. I feel like I no longer love my salon like I used too.
I crave for the old days of working with just myself in a rented room without anybody else to worry about!
I’ve recently been thinking about converting my garage and working from there and getting rid of the salon.
But I have no idea how I would do it? Would I be able to sell the business? I started from scratch in a little room to where t is now so the name and everything in it does belong to me. We don’t carry any retail brands or anything though.
Would I be daft to throw away everything I worked so hard to achieve?
Am I silly for wanting a simple life?? It doesn’t make me huge amounts of money so I just think is it really worth it??? Any advice would be great x

 

[AcidPerm]

Downsizing to a home salon sounds ideal at this stage in your life.
You can always look for bigger premises in the future when the children are older, if you want to expand the business again.
Arrange to get a professional valuation and as the other workers are self employed, ask them if any of them individually or collectively would like to take over the lease.

 

[LisaBrad]

Downsizing to a home salon sounds ideal at this stage in your life.
You can always look for bigger premises in the future when the children are older, if you want to expand the business again.
Arrange to get a professional valuation and as the other workers are self employed, ask them if any of them individually or collectively would like to take over the lease.

Thanks for your advice.
If I asked the staff to take over the lease, would I also ask for a sum for the actual ‘business’ I have no idea how it would work? Thanks

 

[Rachael.V]

Not silly in the slightest. Your little ones are only little once and if that's where you feel you want to be then do it. Setting up from home sounds perfect for you. Best of luck!