A potential buy out

Urrrhhhgggg. One weekend off of work, and I’m spending all my time answering emails. Plus since I’m on the train the fucking 3/4G keeps cutting out. I’ll never get caught up.

HP’s mum has permanently moved to Italy, and there was all kinds of chat at the wedding that HP and I should go over for a visit and see his mum and Betsy (obviously we’d see them separately as they don’t even know each other.) But with the mounds of work that is taking over my life there’s no way I can take a week off to go to Italy. No way.

Plus all kinds of shit is going down with the Agency. Good shit. But shit all the same.

The situation is this. Someone wants to buy the Agency.

For the last couple of years we’ve been rethinking how an agency works, and we’ve been looking at how to tap into the new platforms and markets for writers. So, we’ve been branching into marketing, distribution, and editing for select self-published authors, more work in packaging and subsidiary rights for traditionally published authors, and generally acting as a mentoring service connecting some of our long standing clients with new clients, which means we can market them together and book them on joint tours, so the popularity for one author helps create a buzz for the new author.

Plus we still have no offices (all of us working from home in Dundee, London and Paris — me at Lorainne’s house) so our overhead is minimal.

We’ve been fairly successful (not crazy money but make-a-living money) and because we’re an equal partnership (we moved to that situation a couple of years ago), we’re happy to put a percentage of our profits back into the company before paying ourselves. So, we look good on paper, and someone wants to buy us for an investment.

He said he won’t get involved in the business, he just sees it as a good opportunity.

We’d get a cash buyout if we wanted. OR a smaller buy out with the rest covered as salary over the next five years (plus commission). Lorainne has been wanting to retire since I started, so she really wants the buy out, but I’m torn. She says I should take the big payout and negotiate to take my clients with me and start my own agency, but I find that really scary.

London and Paris don’t want to sell, but we’re quite aware that Lorainne can’t retire properly without the buyout. We could buy out her share, but this guy is offering more than we ever could.

So today is decision day. It’s all happened very quickly and we have a lot to decide. I should have never stayed down in England. I should have gotten the train back to Scotland on Sunday. I really don’t think things through.

Anyway. On the train and these negotiation emails are flying fast and furious. Not a good day to be out of the office.

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