The Daily Guide Winter 2023 - 10

Pulse
RET AIL
" AT ONE POINT, WE WERE RENTING 70 DIFFERENT
BIKES, 20 DIFFERENT MODELS, AND THAT'S JUST
TOO MANY. SO, WE NARROWED IT DOWN. "
- MIKE DONOHUE, OUTDOOR GEAR EXCHANGE
what they have built continue to
grow and evolve.
John and Becky Williams, the
John and Becky Williams,
Pack & Paddle
owners of the 50-year-old Pack
& Paddle in Lafayette, Louisiana,
are in the final phase of this
process, selling the shop, which
includes a bustling guiding business,
to two longtime employees.
John, 62, has been working in
the family business since he was
12 and the couple have been
running it for the past 25 years,
moving it into what he calls a
successful renaissance, quadrupling
the business over a 10-year
period. The decision to step away
will give John and Becky the
time to enjoy cross-country bike
rides and thru hikes in what he
calls the best years of their life
left. But creating a plan to sell
that would both keep the soul
of the business and make sense
took time.
" We always knew in the back
Booth NO.
10047-SO
10
GUIDE / OUTDOOR RETAILER WINTER 2023
of our minds we needed to find a
way for the business to continue, "
John says. " A number of
our friends who run shops have
elected - I'm not saying there's
anything wrong with this - to
close the store and cash out the
inventory. There's a whole lot
of merit in going that route.
You would probably make more
money. "
Selling, though the help of
owner financing, to employees
was the natural solution. " I was
looking for people who worked in
the shop and acted like entrepreneurs, "
he says. John noticed
that one of the buyers would take
calls and answer emails even
when he wasn't at work; the other
has operated her own Etsy clothing
business for years. But selling
the business was only one part of
the Williams' larger plan to retire
to hiking the trails they love.
" Twenty-five years ago, a
friend/advisor told us: 'Make
your business a means to the
end - not the end itself,' meaning
if you are a small business
owner and want to retire one day,
don't leave all your eggs in the
basket of retiring by selling your
business. Be disciplined in saving
during your career and don't
focus solely on reinvesting in the
business. Obviously, it's a balancing
act, but if you can arrive at
the time when you are selling the
business and you're not banking
on hitting a home run with the
sale of the business, then you
have more latitude in what you
can accept with selling price,
owner financing, and selling to
people you believe in rather than
just the highest bidder. "
The end result? Despite so
much uncertainty, in the hands
of the right people, outdoor retail
will abide.
Want more? You can hear
Outside Looks founder Carrie
Watson talk about evolving
buying strategies at her session
" Preseason Buying vs In-Season
ASAPs: How to Do It Better, "
taking place on Day 2, Wednesday,
Nov. 15 from 10:30 a.m.12:20
p.m. at The Camp.
COURTESY PACK-N-PADDLE

The Daily Guide Winter 2023

Table of Contents for the Digital Edition of The Daily Guide Winter 2023

The Daily Guide Winter 2023 - Cover1
The Daily Guide Winter 2023 - Cover2
The Daily Guide Winter 2023 - 1
The Daily Guide Winter 2023 - 2
The Daily Guide Winter 2023 - 3
The Daily Guide Winter 2023 - 4
The Daily Guide Winter 2023 - 5
The Daily Guide Winter 2023 - 6
The Daily Guide Winter 2023 - 7
The Daily Guide Winter 2023 - 8
The Daily Guide Winter 2023 - 9
The Daily Guide Winter 2023 - 10
The Daily Guide Winter 2023 - 11
The Daily Guide Winter 2023 - 12
The Daily Guide Winter 2023 - 13
The Daily Guide Winter 2023 - 14
The Daily Guide Winter 2023 - 15
The Daily Guide Winter 2023 - 16
The Daily Guide Winter 2023 - 17
The Daily Guide Winter 2023 - 18
The Daily Guide Winter 2023 - 19
The Daily Guide Winter 2023 - 20
The Daily Guide Winter 2023 - 21
The Daily Guide Winter 2023 - 22
The Daily Guide Winter 2023 - 23
The Daily Guide Winter 2023 - 24
The Daily Guide Winter 2023 - 25
The Daily Guide Winter 2023 - 26
The Daily Guide Winter 2023 - 27
The Daily Guide Winter 2023 - 28
The Daily Guide Winter 2023 - 29
The Daily Guide Winter 2023 - 30
The Daily Guide Winter 2023 - 31
The Daily Guide Winter 2023 - 32
The Daily Guide Winter 2023 - 33
The Daily Guide Winter 2023 - 34
The Daily Guide Winter 2023 - 35
The Daily Guide Winter 2023 - 36
The Daily Guide Winter 2023 - 37
The Daily Guide Winter 2023 - 38
The Daily Guide Winter 2023 - 39
The Daily Guide Winter 2023 - 40
The Daily Guide Winter 2023 - 41
The Daily Guide Winter 2023 - 42
The Daily Guide Winter 2023 - 43
The Daily Guide Winter 2023 - 44
The Daily Guide Winter 2023 - 45
The Daily Guide Winter 2023 - 46
The Daily Guide Winter 2023 - 47
The Daily Guide Winter 2023 - 48
The Daily Guide Winter 2023 - Cover3
The Daily Guide Winter 2023 - Cover4
https://www.nxtbook.com/emerald/outdoorretailer/2024-Summer
https://www.nxtbook.com/emerald/outdoorretailer/2023Winter
https://www.nxtbook.com/emerald/outdoorretailer/2023summer
https://www.nxtbook.com/emerald/outdoorretailer/thedailyguidess23
https://www.nxtbook.com/emerald/outdoorretailer/dailySM2022_Day3
https://www.nxtbook.com/emerald/outdoorretailer/dailysm2022_Day2
https://www.nxtbook.com/emerald/outdoorretailer/dailySM2022_Day1
https://www.nxtbook.com/emerald/outdoorretailer/daily2022_Day3
https://www.nxtbook.com/emerald/outdoorretailer/daily2022_Day2
https://www.nxtbook.com/emerald/outdoorretailer/daily2022_Day1
https://www.nxtbook.com/emerald/outdoorretailer/daily2021_day3
https://www.nxtbook.com/emerald/outdoorretailer/daily2021_day2
https://www.nxtbook.com/emerald/outdoorretailer/daily2021_day1
https://www.nxtbook.com/emerald/outdoorretailer/outdoor-retailer-august-2021
https://www.nxtbook.com/emerald/outdoorretailer/outdoor-retailer-july-2021
https://www.nxtbook.com/emerald/outdoorretailer/outdoor-retailer-june-2021
https://www.nxtbook.com/emerald/outdoorretailer/may_2021
https://www.nxtbook.com/emerald/outdoorretailer/april_2021
https://www.nxtbook.com/nxtbooks/outdoorretailer/march_2021
https://www.nxtbook.com/nxtbooks/outdoorretailer/february_2021
https://www.nxtbook.com/nxtbooks/outdoorretailer/january_2021
https://www.nxtbook.com/nxtbooks/outdoorretailer/december_2020
https://www.nxtbook.com/nxtbooks/outdoorretailer/theweekly_07302020
https://www.nxtbook.com/nxtbooks/outdoorretailer/theweekly_07212020
https://www.nxtbook.com/nxtbooks/outdoorretailer/2020summer
https://www.nxtbook.com/nxtbooks/outdoorretailer/theweekly_07072020
https://www.nxtbook.com/nxtbooks/outdoorretailer/theweekly_06302020
https://www.nxtbook.com/nxtbooks/outdoorretailer/theweekly_06232020
https://www.nxtbook.com/nxtbooks/outdoorretailer/theweekly_06162020
https://www.nxtbook.com/nxtbooks/outdoorretailer/theweekly_06092020
https://www.nxtbook.com/nxtbooks/outdoorretailer/theweekly_06022020
https://www.nxtbook.com/nxtbooks/outdoorretailer/theweekly_05272020
https://www.nxtbook.com/nxtbooks/outdoorretailer/theweekly_05192020
https://www.nxtbook.com/nxtbooks/nxtbook_bhtest/weeeekly_05052020__JJ
https://www.nxtbook.com/nxtbooks/outdoorretailer/theweekly_05122020
https://www.nxtbook.com/nxtbooks/outdoorretailer/theweekly_05052020
https://www.nxtbook.com/nxtbooks/outdoorretailer/postshow2020
https://www.nxtbook.com/nxtbooks/outdoorretailer/daily2020_day3
https://www.nxtbook.com/nxtbooks/outdoorretailer/daily2020_day2
https://www.nxtbook.com/nxtbooks/outdoorretailer/daily2020_day1
https://www.nxtbook.com/nxtbooks/outdoorretailer/preshow2020
https://www.nxtbook.com/nxtbooks/outdoorretailer/2020winter
https://www.nxtbook.com/nxtbooks/outdoorretailer/postshow_summer2019
https://www.nxtbook.com/nxtbooks/outdoorretailer/day3_summer2019
https://www.nxtbook.com/nxtbooks/outdoorretailer/day2_summer2019
https://www.nxtbook.com/nxtbooks/outdoorretailer/day1_summer2019
https://www.nxtbook.com/nxtbooks/outdoorretailer/preshow_summer2019
https://www.nxtbook.com/nxtbooks/outdoorretailer/2019summer
https://www.nxtbook.com/nxtbooks/outdoorretailer/postshow2019
https://www.nxtbook.com/nxtbooks/outdoorretailer/daily2019_day3
https://www.nxtbook.com/nxtbooks/outdoorretailer/daily2019_day2
https://www.nxtbook.com/nxtbooks/outdoorretailer/daily2019_day1
https://www.nxtbook.com/nxtbooks/outdoorretailer/preshow2019
https://www.nxtbook.com/nxtbooks/outdoorretailer/2019winter
https://www.nxtbook.com/nxtbooks/outdoorretailer/2018summer
https://www.nxtbook.com/nxtbooks/outdoorretailer/2018winter
https://www.nxtbook.com/nxtbooks/outdoorretailer/201707
https://www.nxtbook.com/nxtbooks/outdoorretailer/2017summer
https://www.nxtbook.com/nxtbooks/outdoorretailer/2017winter
https://www.nxtbook.com/nxtbooks/outdoorretailer/2016summer
https://www.nxtbook.com/nxtbooks/outdoorretailer/2016winter
https://www.nxtbookmedia.com