Approaching Retirement as a Business Centre Owner
Guest blog from Peter Hastrop, owner of the ISIS Business Centre in Poole.
In 1990, I built a commercial building in Poole ΓÇô the ISIS Business Centre ΓÇô to serve the needs of my company, the Business Evolution Group.
It served me well until about seven years ago when the business began to decline a little. To bring in extra income, I began renting out the top floor to an outside company.
My career in the serviced office industry grew from there; I sold the business and then starting renting out the ground floor to smaller companies.
The best part of running a business centre for me has been watching and helping the tiniest businesses grow and flourish, some to the point where we can no longer accommodate them! It is a privilege to be a part of the process.
In the day-to-day running of ISIS I have also been fortunate to have an Operations Director, Jacqui, who runs her own business from the centre and looks after the daily tasks. The building continues to do well, continues to attract and grow many businesses, and provides a very healthy turnover with potential for moreΓÇª and yet the time has come for me to retire.
It is time to smell the roses, time to leave this English Riviera and travel abroad, working fewer hours and enjoying my retirement.
I leave a number of career highlights behind me; a highly profitable group of companies and many businesses I can say I have helped in some way to grow to a bright and successful future. But I also leave my business centre.
To anyone reading this who has found themselves or finds themselves in a similar position, I put to you this question: how does one go about selling a profitable business centre?
With an attractive proposition on my hands, I find myself hampered by this recession. Is it a good time to buy a business, regardless of how profitable it is? Where is my target market and who do I contact in this venture?
I find myself, a potential retiree with a lucrative business of exceptional turnover on my hands, unable to contact the right people at the right time.
I would appreciate any comments and advice you could offer me, readers, to help me achieve my goals and help me on the way to my retirement.
Do you have any comments or advice for Peter?
Are you interested in writing a guest blog?
If you are a business centre operator or an industry colleague interested in contributing to the officebroker.com blog, please call Julia Fox on 0844 412 8740 or email Julia.Fox@officebroker.com.