🔄 Closing and Reopening a Business

In this episode, Tara McCaulley from the Elgin Business Resource Centre and Grayden Laing from Establish Media sit down with Rod Rattray from Estate Coach, and former owner of Bricks, Sticks Toys & Games, for an honest conversation about what it really means to close a business and what business owners can learn from the experience.

– Why having a clear goal, a solid plan, and flexibility matter
– The importance of controlled growth and why growing too fast can hurt a business
– Why businesses close for reasons many people never see and why it is not always about sales
– Practical steps involved in closing a business
– How to communicate honestly with vendors, landlords, and CRA
– Decisions to consider around inventory, merchandising, and close-out sales
– The risks of self-employment and why you cannot serve everyone
– Why it is okay to say no and focus on the customers you want to serve
– Why money alone should never be your only goal
– How realistic financials and accurate bookkeeping guide better decisions
– When to trust your instincts and ask hard questions
– Why curiosity and seeking advice can change outcomes
– Why there is no shame in closing a business
– Why wills and estate planning matter for business owners

👥 About Our Guests:

Rod Rattray is the owner of Estate Coach, bringing over 30 years of experience in personal and business finance. Rod supports executors and families with estate administration and helps business owners prepare wills and powers of attorney. He is also a former employee of the Elgin Business Resource Centre and the past owner of Bricks, Sticks Toys & Games.

Grayden Laing is the owner of Establish Media, a creative agency that helps businesses grow their visibility through photography, videography, drone footage, motion graphics, and live-streaming services.

🎧 Tune in for an honest and thoughtful discussion about resilience, decision-making, and why closing a business can still be part of a successful entrepreneurial journey.