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View Full Version : Anybody sell their biz & hold paper?


Mike Leary
04-07-2007, 06:28 PM
The guy that bought the biz in danger of client's bailing....what would you do?

SprinklerGuy
04-07-2007, 07:02 PM
More info please..........

jirrigation
04-07-2007, 07:04 PM
I don't think there's anything you can do. Maybe send out a letter to all customers giving some sort of explanation as to what happened and if/how well established the company is. As well, if it was me, I would offer a % discount for the first year. After the first year is up, quality of service will determine if he holds on to the rest or not.

Mike Leary
04-07-2007, 07:10 PM
More info please..........

These are clients I've had for twenty years, friends, I've watched their kids
grow up. The new owner, nice guy, does not fit right in, yet, he will.
Trouble is, he (by rights) wants to run the show....a show he has only one
year experience doing......I'm stuck in a hard place.

Dirty Water
04-07-2007, 07:21 PM
Are you concerned at all about Russ reading this?

Mike Leary
04-07-2007, 07:23 PM
No, he knows.

londonrain
04-07-2007, 07:57 PM
Two guys in my area sold their companies a few years ago. One guy who purchased one company has since filed for bankruptcy and the other guy quit paying the original owner and started another company under a new name....

Mjtrole
04-08-2007, 09:59 AM
Two guys in my area sold their companies a few years ago. One guy who purchased one company has since filed for bankruptcy and the other guy quit paying the original owner and started another company under a new name....

Sounds like the guys didn't have his stuff together. It's a simple matter of having the papers drawn up so that can't happen, maybe a no-compete if he fails to live up to his end of the deal.

sheshovel
04-10-2007, 09:54 PM
Listen Mike, he can buy your business but he can't buy clients. He runs the risk of loosing the existing clients when he buys a service orientated business. I suggest you PM rodfather about this issue, he's the man when it comes to this kind of thing. Just tell him She sent you.

Mike Leary
04-11-2007, 11:07 AM
Listen Mike, he can buy your business but he can't buy clients. He runs the risk of loosing the existing clients when he buys a service orientated business. I suggest you PM rodfather about this issue, he's the man when it comes to this kind of thing. Just tell him She sent you.

Agreed, Hank's trying hard & understands it's not easy to deal with some
of the a.......s I learned to handle. The "hand holders" are a part of the biz,
& after twenty some years of dealing with me, it's not a easy transition.
You'd think they would all be glad to get rid of me!!!!!!!!!!

bumper
04-11-2007, 11:59 AM
If I were him not sure I would want this info in a public forum.

maybe you and he agree to bring you back as a consultant to ease the transition from a "friend". People when loyal to the past have no issue jumping ship on issues with no connection or predictable history.

Mike Leary
04-11-2007, 04:26 PM
Which is what he's done, it's worked with all but a few "hard cores". He knows of these threads, we only put it out so any of you mite learn something
if you ever sell a business that was founded on a personal basis.

PurpHaze
04-11-2007, 10:47 PM
He knows of these threads, we only put it out so any of you mite learn something if you ever sell a business that was founded on a personal basis.

But Hank's been around the forum longer than you Mike so we trust him more. :p