Opinion anyone?
Someone I know on a list contacted me earlier this week to see if I would sell Clothbots to her. I have a bit of stock (about 10 wraps made, lots more that just need finishing) about £200 worth of labels specially woven for the business, a popper press for metal poppers (cost £250) plus loads of metal poppers, a press for resin poppers (cost $60 I think) plus resin poppers in 4 colours (hundreds of them) and the templates/patterns etc. She’s offered me £50 for the lot. Now it’s all doing nothing just now and I know I do get a bit of use from the popper presses but I’m really not sure about £50. I know I could eBay/WAHMall the stock, finish the rest and flog that off cheap too and I could probably sell the popper presses and poppers too and get a lot more than £50 but I closed the business in April and haven’t done it yet…. Tim just swore and said to tell her where to go but then it’s not Tim’s “office” that’s knee deep in reminders of a failed business is it.
if it was a failed business, she wouldn’t want to buy it. I don’t remember your reasons for stopping doing it but you were not a failure!
Not sure what to do about it all really, but £50 does sound a bit little imo.
Comment by Kirsty — October 30, 2005 @ 11:08 pm
I think this is someone trying to pull a bit of a fast one. I think the name is probably worth more than that tbh. And as for the rest of it, you didn’t fail, you decided to stop. Not even near failing, I’m afraid.
Comment by jax — October 30, 2005 @ 11:43 pm
Not failed.
I would say a business with a name is probably worth a minimum of £500.
Tell her you’ll knock £50 off if she’ll take you know who along with the business
Comment by Merry — October 31, 2005 @ 8:52 am
I’d be a tad insulted, tbh. I agree with all the above - £50 is far too little, they’re pulling a fast one and the name alone is worth ten times that amount.
Comment by Kris — October 31, 2005 @ 3:00 pm
yep, nearer 500!!
Comment by HelenJ — October 31, 2005 @ 8:41 pm
Well, for a start she should at least be offering you the value of the stock and equipment! But then adding on value for the name is tricky - the value of a business is usually based on its profits or turnover, isn’t it? So hard to gauge for a dormant (definitely not failed Katy!) business.
Comment by Alison — November 1, 2005 @ 6:35 pm
Nooo don’t do it. The domain alone is worth more than that and you are still getting hits etc. as you are linked from all over the place! And you have a good reputation generally out there so you’d need a good few hundred for ‘goodwill’ along with your stock.
Sorry - would be inclined to think that someone is aware of all the above else they would be making a sensible offer for stock etc. not one that takes the mick.
Comment by Helen_A — November 2, 2005 @ 11:53 pm