My wife and I started our web design business together 20 years ago. We’ve done well over $1,500,000 USD in sales and support since then. We are nearing retirement and having a little debate. We have stopped taking new clients but still have about 30 clients on maintenance and hosting retainers for a total revenue of about $50,000 USD per year requiring about 10 hours per month of work with practically no overhead. We lose about $5,000 of retainer clients a year due to attrition.
My wife thinks we should sell our business so we don’t have to worry about any problems that might come up. I say that with the very small amount of work it takes to keep our income, why should we sell? We have an almost guaranteed income of ~$300,000 USD over the next 10 years, and finding someone to buy our business for close to that would be hard.
I’m interested to hear your thoughts.
