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MOturkey
03-22-2009, 09:07 AM
Looked through the classified ads in the local paper last night. There is a listing for a mowing business for sale, including truck, mowers and other equipment. No details on the equipment, but if it is who I think it is, he has a probably 3 year old Kubota and a late 90's pickup, with a 16 foot trailer.

Ad says he has 50 accounts, with average of $41,000 a season (I'm assuming gross). All this for only $150,000! I can't wait until tomorrow so I can go talk to my banker. :laugh:

Fox Lawn & Garden
03-22-2009, 09:29 AM
Looked through the classified ads in the local paper last night. There is a listing for a mowing business for sale, including truck, mowers and other equipment. No details on the equipment, but if it is who I think it is, he has a probably 3 year old Kubota and a late 90's pickup, with a 16 foot trailer.

Ad says he has 50 accounts, with average of $41,000 a season (I'm assuming gross). All this for only $150,000! I can't wait until tomorrow so I can go talk to my banker. :laugh:

WOW......what a deal. It would only take you 4 seasons to pay for it. That's with nearly free gas, no ins, no break-downs, working solo (no help) etc.
Hell, I'd jump on that in a heartbeat!
Good luck with it....:drinkup:

bohiaa
03-22-2009, 10:00 AM
Everyone thinks there Stuff is more valueable than it is,

go look at the used auto ads.

also comming from the real estate market, you have to remember this is an asking price.
asking price means nothing,
in a sit like this I useually cut the price in half, then start haggeling price

kaferhaus
03-22-2009, 10:08 AM
Everyone thinks there Stuff is more valueable than it is,

go look at the used auto ads.

also comming from the real estate market, you have to remember this is an asking price.
asking price means nothing,
in a sit like this I useually cut the price in half, then start haggeling price

I'd have cut it by over 2/3rds IF I could verify the accounts. If he's getting out, likely he's in trouble which means his quality of work is also suspect.

I've bought out several other LCO's over the years, usually only buy the accounts NOT the equipment. I figure half of the account's are going away and offer no more than one season's income on the other half.

Only exception was I bought out a guy that had a great reputation that got injured in a wreck and could no longer work... totally disabled. I paid 70% of one season's income for 75% of the active customers. We lost 10 or 12% of them.

Some folks will leave in any case as if there's a "change" they want to be in control of it.