jonwvara 

As some around here know, I have a side business selling triplizer chainrings for a couple of old and “obsolete” cranksets. I’ve been doing it for about ten years now, and hope to keep doing it for maybe another ten. Although the business (such as it is) makes very little money, it’s not a lot of work and I enjoy it.

But lately, I have been thinking about making some kind of contingency plan for how I might hand the business off to someone else when I decide that I’ve had enough. This was suggested by the experience of a friend of mine, who had a small (non-bicycle related) business that was in some ways similar to mine. For reasons that aren’t important here, he needed to streamline his life, and quickly handed the keys to the operation to an interested acquaintance.

The new owner, unfortunately, quickly ran the operation into the ground, leaving behind a bunch of unhappy customers and a residue of ill will. Technically and legally, none of this was my friend’s problem, but it was not fun for him to watch. And since everyone naturally continued to associate him with the business, some of the stink rubbed off onto him.

His recommendation to me is that when I’m done, I should take down the website, sell any remaining stock on ebay, and call it a wrap. If anyone else sees the same need I did, they can start a similar business up from scratch. It's not rocket science.

What does the forum think? I’m guessing that there are a lot of people here with some relevant experience. To be clear, this is all hypothetical at this point–-I have no plans to let go of anything at this time. I’m just thinking ahead. Definitely not soliciting applications or trying to drum up business.

Mods, if there’s anything inappropriate about this posting, go ahead and scratch it or move it elsewhere.

Dylansbob 

I think probably this would be the best option for your own sanity.

Isn't that how the Willow Triplizers went? I remember seeing them on the BOB list, I think. Then they were on ebay and now are all but disappeared. (glad I have an extra set)

iab

I'd speculate your friend's business tanked with the new owner because there was no passion in it for them. You do what you do because you get some sort of joy out of it. It certainly isn't for the paltry money involved with it. So if the "new" owner doesn't have the same interest as you, what exactly is motivating them? We know it ain't the money.

I have had a step by step tutorial on Flickr for over 7 years now. Anyone can use the technique to make tens and tens of dollars to make repro Campagnolo hoods. In 7 years I have never once been asked any clarifying questions on any tricks of the trade. I know any beginner will not get it right on the first go. But there is zero interest. I expect you will never find anyone with your interest in the triplizers. When you are done, just be done. Finding someone with the same passion as you will be an exercise in futility and you will be disappointed with anyone new who does not have your passion.

My .02.

nlerner

I have no experience in such things, so take that as a caveat, Jon, but I'm wondering if someone like Dave Cain at Waxwing or someone else along those lines--already running a small cycling-related business (I believe Dave has a full-time job doing something else), passion for customers, etc.--might be keen to take on a turn-key operation. The redclover website could be maintained so as to keep that brand distinct, and then it's mostly a matter of working with customers and their questions, and keeping the supply flowing.

wrk101

So many second generation businesses fail. Its kind of par for the course. I'd liquidate when the time comes.

tkamd73 

Unless you can sell the business for a decent profit, take your friends suggestion, and keep your reputation intact.
Tim

bark_eater 

Since your working on a 10 year plan, I'd suggest looking for some one who already has a mail order bicycle niche accessory business. If the infrastructure is already set up, it would be easier to transfer your product and intellectual property over, and have the 2 track records to compare when hashing out the details and values.

rccardr 

Been there,did that. Developed a niche business, had a superb reputation but not a big money maker, loved it but needed to simplify my life.
Shut it down when I retired and stopped production.
Still get a couple e-mails a month but just answer respectfully.

Why? Know of too many small businesses like that where things go sideways under new owners. Just look at Loose Screws and Randy’s MyTenSpeeds.
I was not confident that anyone else would have the passion and focus to do things well and keep customers satisfied, especially since my name and reputation were inextricably linked to the product.

EddyR

Thirty years ago I closed my wholesale camera repair business. I was making good money but it was obvious digital was going to wipe out film soon. Nasa and Government work was keeping me going but I had other interest so I closed it and moved on. 10-12 years later a company in another part of the state opened a business with the same name as my old business. I was getting phone calls asking me to redo repairs he had not done correct. I contacted each person and told them I did not sell him the business and I had no connection to him.and I was out of business for over ten years.
It is better to make a clean cut with old businesses other wise they will follow you around.
Ed

SurferRosa

Sometimes, you care so much about the longevity of a ongoing venture, asset, art installation, club or home that you have great desire to keep it going after you depart the operation. Yes, it may all go south, but the will for its survival is too strong. And the downside risk is not a big personal issue.

Drillium Dude 

When you're done, shut it down to protect your good name. It only takes one person to undo your rep.

I once left a negative feedback for an Ebay seller because the item was never delivered and he wouldn't refund. Had to close my old Ebay account and open a new one because he'd send me harassing PMs daily, and finally a friend clued me in to this: Scammer

As of today, this BS is still out there.

DD

70sSanO

The issue I see is the business specializes in old cranksets, which tends to attract old customers.

Passion for a product that is attached to a particular era, is probably more generational, and more difficult to find someone who is younger and will carry on the torch.

The key to a successful handoff is to find someone interested in triplizers for newer cranksets and can take what you have built and build upon it with their passion.

Can’t speculate on a market, but Shimano has walked away from the triple.

John

noobinsf 

There’s an impulse in the internet age to try to find “the one person who can make a difference in my situation.” If someone is bored and determined enough, and you’re not a hermit in the woods, they’ll find you, even if you have zero connection to the business anymore. Like others are saying, better to make a clean break. If someone cares enough to do it right, they’ll do it by themselves.

jonwvara 

Hey, thanks, everybody. This has been really useful. I think I have my answer.

gugie 

My takeaway is that we should all stock up on a lifetime supply of triplizers while we can!

pastorbobnlnh 

Jon, thanks for posting this question. I've been contemplating the same question and I so appreciate the wisdom offered by our fellow C&Vers. Thank you!

bamboobike4

What it takes 10 years to build can easily be undone in a few months.
It’s a gamble for the successor and the predecessor.

“So tell me, are you feeling lucky?”

noobinsf 

Noooooooooo!

mechanicmatt

What's funny is that I have a close friend that I went to engineering school with and he has essentially developed a company out of thin air from essentially designing components for old cars (Ford Fox Bodies, drum to caliper conversions), Buell motorcycle components, and various other car/motorcycle odds and ends. For 18 years he has been designing and subcontracting components year after year, 6 to 10 sku's a year, building it small and steady. He has been all over me to do the same and I wish to do so as well but I want to make special tools and odd bike parts, it's making the time to start doing so. I'm attempting to make this the year but man, making daily time to get going isn't easy.

I guess I admire those of you that have created the niches you have made, and hope to join you all soon. Likewise, it never hurts to see if someone else is willing to carry a flame forward, but there is plenty of deadbeats.

droppedandlost 

Wait! I need shims for a Normandy!

repechage

I laugh a bit as 30 years ago my brand new father in law wanted to retire.
I took a week off work and a month later my wife and I bought the business with a 10 year note.
he had built it for his retirement.
he was lucky my skill set was a good overlap.
now due to Covid and other outside conditions, there will be no follow on buyer.
I could sell it possibly but I really doubt it.
business conditions are rapidly changing, the path for continuing Might be there, but the risk is high and the reward is probably not enough.

I think the key is the right buyer, sometimes they are out there. My father in law had two people interested before asking us and they had enough money to make a deal but he was concerned they would not make it. A reasonable concern as both only lasted 10 and 15 years.

pastorbobnlnh 

I'm not planning to make a snap decision on freewheelspa.com.

However, since retiring at the end of September, I've been surprised by my lack of enthusiasm for continuing. I had always thought I'd want to expand this very tiny hobby-business once I had more time. Yet, so far, such a desire has not emerged, and has in fact, moved in the other direction.

For the time being, I'm waiting to see where my desires land. The biggest challenge will be the sheer volume of parts and spare freewheels I'll need to move along to others.

squirtdad

if only Red clover had them for 7400 dura ace

I did find a specialties TA one, had to order from Germany, but at least the Cino miyata will be a little classier than the 105 triple

CliffordK

Do you have any resale clients?

Jtek Shiftmate jumped to SJS Cycles in the UK, I think. I'm not sure how it went down.

Are you doing your own machining, or just hiring out CNC work and doing resale? Any R&D?

If you can make a couple hundred bucks a month, perhaps you can find a college student, or bike shop employee that would wish to intern with you.

If you did your own CNC work, that would be a huge advantage for the transfer.

There are a few semi-custom chainring manufacturers in the USA. For example Vuelta. Perhaps you could get them to pick up your product lines. Wolftooth also has some unique components.

The biggest problem would be to start the sale too early, and have Vuelta/Wolftooth simply suck up your product line.

top506

Jon doesn't do 130 BCD, but I did find this Willow triplizer on the 'Bay a few years back:




Top