PDA

View Full Version : Sell outs


cleancut
09-12-2002, 12:12 AM
Alot of guys in my area are trying to sell their companies... We're having quite a dry spell here in East Tn. and I guess they're just discouraged... I know of at least 4 well established guys that are giving it up...Some have been in the biz for over 10 years...Local paper that I advertise in also has had a drastic decrease in Lawn Maint. ads...At one point there was almost 30 ads, now there's about 10...I guess this will just help my company in the longrun. I hope it rains soon, but either way I'm in this for the long haul..Have any of you guys ever considered selling out??If so, what changed your mind and do you regret it???CleanCut

JimLewis
09-12-2002, 01:41 AM
This is what happens when times get tough. Just wait until we have a REALLY good recession or even a depression. People will drop like flies.

But the wise ones build up a good capital reserve and a good sized business that makes them much more able to make it through the tough times. If my business decreased by 80% over the next few months, I'd still be okay. I'd be a solo operator making only $4000 a month (from just the lawn care end of things) but I'd be fine. I wouldn't have to sell a thing. I'd have to lay off a lot of guys but at least we'd survive.

I remember reading that there were more millionaires created during the Great Depression than at any other time in U.S. History. This is because people were selling anything and everything they could for super cheap. Things like Real Estate, Automobiles, Businesses, etc. were a fraction of what they were worth because people needed the $$ so badly. But the people who were wise and who had saved, were able to buy up a lot of this stuff a huge discounts and then were worth fortunes after the Depression was over.

So that's the way I look at times like this. I just figure it's a good time to buy some commercial equipment for super cheap!!! :D

Phishook
09-12-2002, 01:52 AM
Originally posted by jimlewis
I just figure it's a good time to buy some commercial equipment for super cheap!!! :D

Amen! Looking at a Chariot less than a year old For $3500. It's not what i really wan't, but for about $5000 less than a lazer I'll take it.

awm
09-12-2002, 08:22 AM
jim ,glad to know others know how bad it can really get. and can get worse.
my hometown ,waxhaw nc was pretty much owned by those that got it the way u described. this was back in the 50s when id hear dad and his friends talkin about it.
my grandpa took a hog to market and sold it for enough fatback to winter the family on. 50 cent a day at the mill.
at the end of the week u lucky if u got a buck ,cause u owed the company store.
d-- sure happened and guess what. it can again . just a matter of what card comes up . imho