My repair shop is closing soon.
Back story:
I own an automotive repair shop in Central San Diego, CA. I'm renting a building along a main thoroughfare that was placed under eminent domain while my business was operating. A property development company bought the entire block, counting on the new zoning. Then eminent domain was rescinded, leaving the development company with an old building they can't tear down till the zoning changes. January 2010, the zoning was eventually changed, but being an existing business, my license and zoning have grandfathered in. Since about June 2009, the block I'm on has been losing tenants. Currently only 3 businesses occupy the block compared to 8 businesses prior to June 2009.
/backstory
The lease I signed with the previous landlord, which thankfully was honored by the development company, is up for renewal next week. My current landlord (development company) was just here about an hour ago. They informed me that they will not renew my lease and served me with a 60 day notice to vacate.
I'm actually glad they picked a Friday to do this instead of mid week. At least I have tonight to drink the numbness away and the rest of the weekend to figure out my next step.
With me having to send $10k+ to Philippines to help pay for my uncle's burial and medical bills, compounded with the fact that business has been epic slow for month's and I've all but cleared out my savings keeping it going; this might be a blessing in disguise. Had business not picked up, I'd eventually have to close anyways. If it didn't pick up, I'd only be able to keep it running till about June.
Gonna break the bad news to my employees tomorrow morning. I can employ them for the full 60 days to finish jobs on hand + a few more coming in, clean up, and move equipment to storage. I hope they can find work if I can't open up somewhere else soon.
I'm gonna start looking for new diggs come Monday, but finding something that's half of what I have (ahem.. had) for the same price is gonna be near impossible. Hopefully I find something. The prospect of having to look for a job, after being self employed for 10 years, scares the buhgeebus outta me.
Good thing I keep a flask of scotch in my desk..... cheers.
Back story:
I own an automotive repair shop in Central San Diego, CA. I'm renting a building along a main thoroughfare that was placed under eminent domain while my business was operating. A property development company bought the entire block, counting on the new zoning. Then eminent domain was rescinded, leaving the development company with an old building they can't tear down till the zoning changes. January 2010, the zoning was eventually changed, but being an existing business, my license and zoning have grandfathered in. Since about June 2009, the block I'm on has been losing tenants. Currently only 3 businesses occupy the block compared to 8 businesses prior to June 2009.
/backstory
The lease I signed with the previous landlord, which thankfully was honored by the development company, is up for renewal next week. My current landlord (development company) was just here about an hour ago. They informed me that they will not renew my lease and served me with a 60 day notice to vacate.
I'm actually glad they picked a Friday to do this instead of mid week. At least I have tonight to drink the numbness away and the rest of the weekend to figure out my next step.
With me having to send $10k+ to Philippines to help pay for my uncle's burial and medical bills, compounded with the fact that business has been epic slow for month's and I've all but cleared out my savings keeping it going; this might be a blessing in disguise. Had business not picked up, I'd eventually have to close anyways. If it didn't pick up, I'd only be able to keep it running till about June.
Gonna break the bad news to my employees tomorrow morning. I can employ them for the full 60 days to finish jobs on hand + a few more coming in, clean up, and move equipment to storage. I hope they can find work if I can't open up somewhere else soon.
I'm gonna start looking for new diggs come Monday, but finding something that's half of what I have (ahem.. had) for the same price is gonna be near impossible. Hopefully I find something. The prospect of having to look for a job, after being self employed for 10 years, scares the buhgeebus outta me.
Good thing I keep a flask of scotch in my desk..... cheers.
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