I have been thinking of selling Full Circle Herbs for a while now. I started the business in 1999 as a way to be able to keep my hands in the herbs while I got up the guts to become a clinical herbalist. I kept it really small because I never wanted to be a business woman. But, now I am getting more into teaching and clinical herbalism and I think it may be time to let go of the business. Instead of being happy when orders come in, I dread it. My time is so busy right now that the last thing I want to be doing in my spare moment is pack up another order. I’ve actually been trying really hard to keep it very small, but it keeps growing. Last year I made $1300. I know that doesn’t seem like much, but that was without any sort of advertising. I have a website, but that’s it. I think that this business could grow very well in the right hands, I just don’t have the desire to do it. So, how do I put a price on this??
I have an established business, established clients, logo and known business name (at least locally), a kick-ass website (thanks T!), a 1-800 #, already made products, and hundreds of herbs! Any thoughts? What would you pay for something like this if you really wanted to own an herb business?
Wow! If that isn’t tempting! 😉
An accountant would tell you that you’d need to take a stock of the inventory, value it, put a value on the Name, look at the income the business derives, and that would come to your selling price.
Would you sell the inventory of products/herbs plus the recipes to make more?
The husband of a mama friend of mine is a business consultant. He said he would be willing to sit down with me and go over some things to see what the business would be worth. I just have to buy him some coffee and then pay him if he ends up doing the closing paperwork.
I would sell everything. The products I already have made, the stock to make more, the recipes, the pre-made labels, the logo, the website… I am just ready to move into the teaching and community herbalism. It’s hard to be a community herbalist when your clients are all over the country. 🙂
hey mama – this year’s strawberry beds have about 6 inch spacing on each side (so each one has about a square foot) Whne I was taking ag classes, I saw a lot of famrs that did them as an annual – didn’t bother trying to get several years out of the same bed, but I’m gong to maintian these…. I’ll cut out the runners as soon as they have a few roots and put them in a nursery bed – once that’s full, I’ll just cut the runners and discard. I lost almost 100 of last year’s to weeds – watch out for that…they are so low they’re easily crowded and shaded out till they wither away.
good luck! that’s a huge step to sell off your product line. another friend of mine just recently went through this…if i can find her email, i’ll forward it to you to give you an idea of what she is asking for it.
i can’t wait until i am at the point that you are at…although, i never want to dread making the products!