52, brisbane, 7-year ecom doing low 7s. got an offer last week to come back to a c-suite role. running the math.
run a small australian ecom. 7 years. low 7s top line in AUD, mid 6s in EBITDA. seasonal business. nothing exciting but it pays.
last week. former colleague (now at a private equity-backed retailer) called. they want a head of digital. comp package: $340k AUD base, 30% bonus, $180k equity vesting 4 years. 3 day in office in melbourne (i am in brisbane, would need to relocate or commute).
running the math out loud because operators here are the only people who get the actual question.
cash side. the offer is 2.4x what i pay myself out of the ecom. with bonus and equity it is roughly 3x. ecom keeps producing if i sell or hire to replace me. selling at 2.5x EBITDA gets me a one-time figure i won't say.
life side. wife works HR at a hospital chain. one of our kids is in uni in melbourne. would be near our oldest. brisbane house is paid off. melbourne would be rented for 2-3 years while we figure out where we want to be in our 50s.
ego side. i miss being part of a team. running solo ecom is fine for the money. it is not fine for the part of me that liked running an office of 60 people pre-2018.
the part i keep getting stuck on. if i take the role and it does not work out (private equity timelines are 3-5 years, after which they sell and the team turns), i am 56 with a resume that says "ran ecom from brisbane for 7 years, then 3 years at a portfolio company." i am unsure that resume is stronger than the current one.
if i stay in ecom, i am 60 with a small business that has paid me $1.4M AUD over 10 years and is worth maybe $1.6M at sale. predictable. boring. controllable.
asking the operators who have been in similar positions: did you go back to corporate from your own thing. did it work out. would you do it again.