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_gail
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From: So FL
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Phasing out a web design business - 3/18/2004 23:13:03
If you were phasing out a small, part-time web design business, what steps would you take to be fair to clients? How do you recommend to them to find another web designer to take over their site? Do you think another web designer would even take the job?
Do you do it in one full swoop, or do you, with sufficient notice, give up one site at a time when each client's annual hosting fee is up for renewal? I'm assuming most web designers would want to select their own host or host it themselves.
thanks,
gail
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ellipisces
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RE: Phasing out a web design business - 3/18/2004 23:22:27
seems like you could find a firm that would be interested in buying the whole thing, LSB.
maybe even someone in outfront!
That should have minimal impact on the clients, unless the new owner changed everything
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Peppergal
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RE: Phasing out a web design business - 3/18/2004 23:43:51
I would give them several weeks notice and make recommendations for a replacement. Then leave it in their court. Tell them that as of such and such a time, you won't be able to do it anymore...
I would think that by giving a decent amount of notice and a few names to check out, you'd be doing them a nice turn.
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Reflect
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RE: Phasing out a web design business - 3/19/2004 8:24:12
I'll take this post as Digicam is going great? Here's to hoping so!!!
Brian
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Giomanach
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RE: Phasing out a web design business - 3/19/2004 8:37:52
Don't think Lori would agree, but you could always pass them over to me and Lori??
But to let them down gently as it were, I would give the clients at least a months notice to allow them to find a new webmaster service, and if needs be to find a new host for the site.
Dan
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_gail
Posts: 2876
From: So FL
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RE: Phasing out a web design business - 3/19/2004 8:48:14
quote:
ORIGINAL: Reflect
I'll take this post as Digicam is going great? Here's to hoping so!!!
Brian
Actually, Digicamhelp is going fabulous! It is the main reason I don't want to fuss with other things. I'm having so much fun with developing it. You can't believe it. It embodies everything I love to do.
I've spoken to a fellow web designer, and I believe I'm going to follow the route suggested: find someone who wants my sites and inform my clients with a one month notice.
To my surprise, someone has already contacted me about purchasing them.
gail
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LoriL1212
Posts: 394
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From: South Florida
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RE: Phasing out a web design business - 3/19/2004 10:20:26
quote:
ORIGINAL: Peppergal
Tell them that as of such and such a time, you won't be able to do it anymore...
This is the one thing I would not do - this will make your clientele nervous. I would just say you are partnering with another firm, and the new contact person will be "so and so" - however they will still be able to email you - just inform them that you are no longer working on that "aspect" of their site, as the team you have partnered with has qualified personnel to handle these requests.....
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_gail
Posts: 2876
From: So FL
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RE: Phasing out a web design business - 3/19/2004 10:32:09
I've been kinda taken aback at the number of people contacting me about purchasing my clients. It was not my intention to do a sale at Outfront, just to get some info about how one would proceed. Thank you for sharing thoughts on how to do so. If others have suggestions, please post them in this thread as it could prove helpful to others as well as to me.
As to anyone who may have any interest or would like specifics, please contact me by email. I prefer not to give out business information in a public forum for obvious reasons.
thanks again,
gail
gail@digicamhelp.com
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Charles W Davis
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RE: Phasing out a web design business - 3/21/2004 21:29:34
The digicam source reads:quote:
<meta name="Keywords" content="digital camera tutorials, digital camera resource, beginner photography, beginner digital photoraphy"> Note the spelling of "photography".
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Minix
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RE: How do you determine a price? - 3/22/2004 9:56:11
quote:
ORIGINAL: _gail
quote:
ORIGINAL: Charles W Davis
Note the spelling of "photography".
LOL, thanks Charles. It was a typo. I'll fix it.
btw, how does one determine a price if they are "selling" their clients.
thanks,
gail
Selling your business and selling your clients are a bit different in concept. There are a few different formulas to determine how to sell a business. It's a little different in just selling the client base and keeping your business in tact. Ultimately it will depend on how much the buyer wants to buy and how much the seller wants to sell.
Forr selling a business these are the most commonly used methods to determine a price:
Market-based valuation. Used by brokers to determine price based on asking price of similar transactions. It is quick, inexpensive and makes sense to buyers, so it's common practice for the sale of small businesses.
Asset-based valuation. Takes into account figures such as the book value and liquidation value of the business.
Earnings-based valuation. Takes into account historical financial figures, cash flows (past, present and projected) and revenues.
A Combo of the above
For larger businesses a combination of the above. When I sold my business in 1997 I used a broker and a person who specializes in that type of thing. It took them about three weeks to do come up with a selling price that they would even consider listing my business for. I wanted more, but they told me I would never get what I thought I should. But that's natural. Be realistic.
Other factors include no-compete clauses, etc. Also, the risk to the person buying your clients is that the client may be under no obligation to stick with the new buyer and the buyer could be out the upfront money that they pay you.
Maybe you take a guaranteed fee up front and then take a % of the revenue generated by the new buyer over a period of time, especially if you are being active in the transition over a period. You should have a sense of what that revenue should be based on history.
Be clear with the buyer when you no longer desire to be called or consulted on any matter with the old clients, unless you are on a consulting retainer.
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tarheel
Posts: 422
From: Fresno CA USA
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RE: Phasing out a web design business - 3/23/2004 4:36:03
quote:
ORIGINAL: LoriL1212
I would be happy to take over all your clientele.
You could direct them to my credentials, and state that you have partnered with another development company to better tend to their needs, and offer them better services.
You do good work, there, Lori... Not bad at all!
Phil
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LoriL1212
Posts: 394
Joined: 1/30/2004
From: South Florida
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RE: Phasing out a web design business - 3/23/2004 7:55:43
Why thank you tarheel!
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