Close down business even if it makes money?

Should I Close My Bar Even If It’s Still Profitable?

As a dedicated bar owner, I’ve always taken pride in being hands-on, learning the ropes and working behind the bar myself. However, life threw me an unexpected curveball, and I found out I was pregnant just five months after opening. Now, after embracing motherhood, I’m back in the nightlife scene, but I’ve noticed that I can’t manage my bar the way I once did. While the business continues to earn, it’s not performing at its peak, and I’ve found myself grappling with the idea of closing it down.

I wanted to share my thoughts and seek insights from fellow entrepreneurs who might have faced similar dilemmas. Here are some of the factors weighing on my mind:

  • We’ve Recouped Our Investment: I was actively involved in ensuring our return on investment, which brings me some peace of mind.

  • Current Income vs. Main Source: Although the bar generates income, it isn’t our primary source of revenue, making it feel more like a bonus than a necessity.

  • Emotional Attachment: I feel deeply connected to the bar, but my lack of full focus on it as a business has left me feeling less proud. My priorities have shifted, and my role as a mom has taken center stage.

  • Desire for Closure on My Terms: I find myself wanting to end this chapter on a positive note, rather than waiting until the business declines financially.

  • Health Considerations: The bar scene doesn’t align well with my family’s well-being. Even though I know I can moderate my drinking, I often struggle with self-regulation in social settings, which complicates matters.

I’d love to hear from other business owners who have decided to close their doors while still in the black. What led you to that decision? How did you come to terms with moving on?

A Note on Selling: I’ve contemplated selling the business but find myself hesitant. It feels intertwined with my identity, and I wrestle with the notion that selling might seem selfish, leaving it in someone else’s hands.

I recognize that my feelings come from a place of privilege and reflection. I appreciate any thoughts or experiences you’d like to share as I navigate this complex situation. Your input could provide valuable perspective as I weigh my options.

1 Comment

  1. bdadmin

    Reply

    It’s clear that you’re going through a complex and personal decision-making process regarding your bar. It’s great that you’re taking the time to reflect on your feelings and the direction you want to take moving forward. Your situation resonates with many entrepreneurs, so your query is both relevant and significant.

    1. Understanding Your Attachment:
    Your attachment to the business is a natural feeling, especially considering the time and energy you’ve dedicated to it. Many business owners develop a sense of identity tied to their ventures. Recognizing this attachment is crucial as it can lead to emotional biases in your decision-making process. It might be worth reflecting on what this business means to you beyond just financial aspects—this could involve writing down your feelings or discussing them with a trusted friend or advisor.

    2. Evaluating Your Priorities:
    You’ve mentioned a significant shift in your priorities since becoming a mother, which is entirely understandable. Shifting focus from your business to your new role can lead to feelings of guilt or identity loss. It’s important to assess how your priorities align with your business commitments. It might help to ask yourself questions like:
    – How does owning the bar fit into your vision for your life and family?
    – What are the long-term impacts of staying involved in the bar on your personal life, mental health, and family dynamics?

    3. Assessing Business Health:
    While the bar isn’t financially struggling, consider the operational health and your emotional well-being. Reflect on:
    – The time commitment you can realistically make while being a present parent.
    – How the business aligns with your values and lifestyle.
    – The eventual ownership transition; if you’re feeling that your heart isn’t fully in it, it might be time to consider stepping back.

    4. Exploring Alternatives to Closing:
    If you’re hesitant to close down outright, consider options that might provide a better work-life balance:
    – Hire a Manager: Bringing on a dedicated manager could allow for a smoother operation without you being hands-on all the time. This way, you can stay connected to the business without the day-to-day responsibility.
    – Change the Business Model: Evaluate whether there’s potential for a pivot in your business model. Perhaps you could explore a shift to a family-friendly space or a more relaxed environment that aligns with your current lifestyle.

    5. Self-Reflection Regarding Drinking Environment:
    The bar scene may not just be a workplace but also a social setting that could impact your lifestyle choices. Consider setting personal boundaries regarding how involved you want to be with the drinking culture. It might be beneficial to explore healthier habits and environments that resonate more with your new chapter as a mother.

    6. Conversations with Other Owners:
    Reach out to community groups or forums where other bar owners or entrepreneurs discuss their journeys. Hearing firsthand experiences of others who have closed down successful businesses can provide insights into their thought processes and the emotional journey involved.

    7. Trust Your Instincts:
    Ultimately, listening to your gut is crucial. If you feel ready to move on, even from a profitable venture, giving yourself permission to make that choice can be liberating. Your well-being and that of your family should always take precedence.

    The decision of whether to stay, hire, or close should align with your evolving values and life circumstances. It’s commendable that you’re considering all these factors before making a decision. Whatever path you choose, it’s important to embrace it as part of your unique journey.

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