What I Wish I Knew About Small Business – Ep. 4: The Sisters Who Sold a Business & Went Straight Back In with Hayley Crannage (A Media Magnet Special Series)
Media MagnetShow Notes
Most people who sell a business they've poured five years of blood, sweat and no salary into would take the win and put their feet up for a while. My guest today looked at her payout and thought, "Great, let's do it all again, but harder, faster, and with a lot more on the line this time."
In this episode of What I Wish I Knew About Small Business, brought to you by AMP Bank GO, Liz Nable sits down with Hayley Crannage, co-founder of Love Lu Eyewear (with her sister Jade) and now co-founder of the fashion label Buy Sid, to talk about what it actually feels like to sell something you built from nothing, and why you'd ever choose to start again.
Hayley and Jade built Love Lu in their parents' garage on Sydney's Northern Beaches with no savings, just a nervous conversation with a family member about borrowing the startup cash. It grew into a brand worn by influencers and celebrities before it was acquired by a much bigger Australian eyewear company. Jade couldn't join this episode; she's seven days postpartum with a new baby girl, so Hayley stepped in solo, though this is every bit her story too.
This is a candid, unfiltered conversation about the number that made their accountant say stop, the email that changed everything, and the one piece of advice about selling a business Hayley says she'll never forget. Then, why the sisters went and built a second brand almost immediately instead of enjoying the spoils of the sale, and what they're doing completely differently this time around.
In this episode Liz and Hayley cover
The number that made their accountant tell them to stop, and the six to eight months where sales kept climbing while cashflow quietly went backwards
Why "revenue isn't profit" was the biggest lesson of Hayley's business life, and how chasing growth nearly ran a healthy brand into the ground
Financing a first business with zero savings: borrowing around $30,000 from a partner and parents, and what it's like handing money to a supplier overseas before the stock even lands
Why eyewear, at an accessible price point, was the gap Hayley and Jade spotted between fast fashion and $800 designer sunglasses
The organic, plan-free path from a home-based online launch to wholesale stockists to landing a spot with The Iconic
The out-of-the-blue email that kicked off the acquisition conversation with Sunshades Eyewear, the Australian company behind Le Specs and the local licensing for Gucci and YSL
The one piece of advice about selling a business Hayley says she'll never forget: sell it when you don't want to sell it
Why a strong, honest brand mattered more to the sale than the raw numbers, and the reality of not having the finances to take a brand global alone
Launching a second brand, Buy Sid, on her dad's birthday just months after selling the first, and going back to casual teaching in the meantime
What's different the second time round: a tight priority list instead of saying yes to everything, and watching the numbers from day one instead of year three
Marketing on a shoestring: why imagery came first, gifting over paid influencers, and staying conservative with paid ads
The Afterpay Day and discount dilemma every product-based small business owner wrestles with
Why Hayley believes "anyone can start a business" if you say yes to opportunities and build real community and connection
Hayley's small business advice squad: her accountant, a business mentor, a graphic-designer friend, and her mortgage broker
The mindset shift for round two: building a life and a brand you're proud of, not just an empire
A line worth writing down
"Sell your business when you don't want to sell it." — Hayley Crannage
About Hayley
Hayley Crannage is the co-founder of Love Lu Eyewear, the accessible, quiet-luxury sunglasses brand she built with her sister Jade from their parents' garage on Sydney's Northern Beaches, before it was acquired by Australian eyewear company Sunshades Eyewear. She and Jade have since launched a sec
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