It’s hard to believe we’re already finishing our last issue of 2024 — it feels too early to be reflecting on the year. I am so proud of everything my team has accomplished this year. They put together a yearlong succession planning series, which included webinars, podcasts and articles; launched 30 Under 40 for SpaRetailer; started the Hot Tub Hall of Fame; and behind the scenes, have been working on a new website, which will be coming soon. And of course, the backdrop to all of that are the big life milestones that everyone experienced. I threw a lot at them this year, and they knocked it out of the park.
If you’re considering liquidating your business, it’s likely taken a lot of forethought and seems like the best option before retiring. Selling your business to the public is a good option for hot tub retailers who need to eliminate inventory and break even.
As part of our succession planning series, here’s a look at what happens when an outside buyer successfully purchases a hot tub business.
Ah, retirement. It’s a bittersweet word for longtime business owners to think about. But how do owners leave a business they’ve dedicated decades to? Internal succession, selling to an employee, is one popular route.
Random Thursday night dinners are how ESOPs happen. At least, that’s what Vince Wuebker, owner of HotSpring Spas & Pool Tables 2, will tell you.
The hot tub industry is poised for a large number of business handovers in the coming years as retail store owners prepare for retirement.
Many founding members of manufacturing companies and retail stores are not only alive and well but actively participating in those same businesses. However, no one can work or live forever.