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<blockquote data-quote="money_pit_yj" data-source="post: 518186" data-attributes="member: 7710"><p>We are a $80 million farm supply Coop. Tire shops make up about $1.5 million, the one I sold was a money pit from day 1 (40 years ago) and lost money every year but provided a service that large farmers and customers utilized so it was a loss that was acceptable. The problem is that the money is that commodity prices and higher input costs have driven money out of our industry, margins are shrinking and volume is shrinking due to the crop makeup, so we need to cut loose anything that is not pulling its own weight. By the time I got responsibility it was almost dead, but ultimately it's on my shoulders. I'm ok with it, I made the decision that was right for the entire business. I gave our CEO 2 options, one was close it and call it quits and 2 was invest $100k in it with equipment, personnel and marketing and hope it breaks even and he chose shut down. It's kinda like being the Dr on call when a patient that has been dying for days finally kicks the bucket. Was on your watch but you couldn't do anything about it.</p></blockquote><p></p>
[QUOTE="money_pit_yj, post: 518186, member: 7710"] We are a $80 million farm supply Coop. Tire shops make up about $1.5 million, the one I sold was a money pit from day 1 (40 years ago) and lost money every year but provided a service that large farmers and customers utilized so it was a loss that was acceptable. The problem is that the money is that commodity prices and higher input costs have driven money out of our industry, margins are shrinking and volume is shrinking due to the crop makeup, so we need to cut loose anything that is not pulling its own weight. By the time I got responsibility it was almost dead, but ultimately it's on my shoulders. I'm ok with it, I made the decision that was right for the entire business. I gave our CEO 2 options, one was close it and call it quits and 2 was invest $100k in it with equipment, personnel and marketing and hope it breaks even and he chose shut down. It's kinda like being the Dr on call when a patient that has been dying for days finally kicks the bucket. Was on your watch but you couldn't do anything about it. [/QUOTE]
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