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lawn
10-18-2010, 06:12 PM
I had some guys very interested in our business, some of them came a couple of times to check on the numbers, etc, when we got to the agreement day they disappear, some said that could not afford it, some said that was too risky in this economy and some never responded to me ( which bugs me because I spent a lot of time with this guys showing everything from equipment to numbers)
Now, I have a guy that is interested, but he does not have all the money so he is offering a 10-20 %down and then he want us to finance him, in other worlds he will not go to a bank to get a loan, he will pay us.
What do you think about that? should I ask at least for 30% down? how much will be the interest to charge him per month? what should I do? I have no idea on how to sell the business.... please help!
Thanks guys!
Here a beer!:drinkup:

lawn
10-18-2010, 10:32 PM
no comments?:confused::cry:

JB1
10-18-2010, 10:36 PM
ok , 10 or 20 percent down aint nothing in my opinion, he could probably run it into the ground and your really out.

STL Cuts
10-19-2010, 12:16 AM
I had some guys very interested in our business, some of them came a couple of times to check on the numbers, etc, when we got to the agreement day they disappear, some said that could not afford it, some said that was too risky in this economy and some never responded to me ( which bugs me because I spent a lot of time with this guys showing everything from equipment to numbers)
Now, I have a guy that is interested, but he does not have all the money so he is offering a 10-20 %down and then he want us to finance him, in other worlds he will not go to a bank to get a loan, he will pay us.
What do you think about that? should I ask at least for 30% down? how much will be the interest to charge him per month? what should I do? I have no idea on how to sell the business.... please help!
Thanks guys!
Here a beer!:drinkup:



I hope you have these "buyers/lookers" sign some paperwork before you just open all of your numbers up to them. For all you know, they could be friends with your competitors and now they know who you're clients are, how much you charge, etc. which in the hands of your competitors could come back to bite you in the a** (Ex. One of these people sees your client list, acts interested, and then goes to these clients and says something along the lines of "You know XYZ Lawncare is about to sell out, you should go with our company and we will even give you a better price" as they now know what you are charging.)

blk90s13
10-19-2010, 12:29 AM
sure 20% down and when paid in full you get titles and all the paper work till then he works for you

wbw
10-19-2010, 08:50 AM
ok , 10 or 20 percent down aint nothing in my opinion, he could probably run it into the ground and your really out.

True words. Number 1 priority is how do YOU protect YOUR interest. If he is a bad operator/businessman he won't be able to pay you and you won't have many customers left.

lawn
10-19-2010, 10:27 AM
Thanks for your advice guys, so how much down can I ask for? 50 % at least? it seems like nobody has that kind of money all at once, I really feel stuck, i do not know what to do.

( I am not showing the names/addresses of my clients, just what we made last couple of years)

lawn
10-20-2010, 10:16 PM
any more inputs?

TheGoat
10-20-2010, 11:27 PM
what is your reason for selling?

if you can't get your asking price, you may need to adjust downward if you are intent on getting out.

lawn
10-23-2010, 08:59 PM
what is your reason for selling?

if you can't get your asking price, you may need to adjust downward if you are intent on getting out.

retirement

TheGoat
10-24-2010, 12:09 AM
Ah, well, the economy is going to bite you in the ass on this one. There's not many large piles of cash out there that are going to be spent on a lawn business right now.

what about taking on a partner? give him half the profit now and he owns it outright after a number of years.

or better yet, a manager. then you can own a business instead of a job and go play golf while someone else makes you money.

lawn
10-24-2010, 11:45 AM
Ah, well, the economy is going to bite you in the ass on this one. There's not many large piles of cash out there that are going to be spent on a lawn business right now.

what about taking on a partner? give him half the profit now and he owns it outright after a number of years.

or better yet, a manager. then you can own a business instead of a job and go play golf while someone else makes you money.

That is a great idea, but I cannot find someone that I can trust to leave him with everything :-(