I will sell my business when it makes a profit of $50,000 a year, so that I can buy an affordable car and go to college to earn a degree in Biology. My goal is to buy a car that is $5,000 or less. Also I estimated $100,000 for college. The first thing I did was I went to FitSmallBusiness.com to use their Business Valuation Calculator. I plugged in different profits and owner salaries to find out how much I would need in order to sell $105,000.
Looking at the numbers, I would think of not selling the business at all because of how much money it makes. On the other hand, I really want to study Biology and I would need a degree to do that which I can only get from a college. I want to major in Biology because I want to be a Herpetologist when I grow up and I need Biology to help me get a degree because if I want to work at a zoo or at a university I would need a degree in Biology.
If I wanted to keep the business and go to college I could go to night school which costs less and I can still run my business. I could also follow on Herpetology on YouTube. I could do my school online. I can take local internships at herpetology stores. I could build my YouTube audience and then leverage that into a scholarship at a school. I could teach for a school or be an assistant to somebody. I really hope I can become a Herpetologist someday.