View Full Version : new business
10-26-2003, 02:30 PM
My wife and I have been looking for a business to get into. Our engineering jobs will be gone soon and after 300 resumes I got one interview and it turned out to be for an entry level position paying $24K per year! :D For a variety of reasons we have settled on lawn care. A good friend of mine is selling his business and we are considering buying it. He wants 60K for the business which we can do. He will take 40 down and the rest in payments. We will get the following: 2000 ford F250 superduty extended cab long bed V10 towing package (worth $17,900 retail) / a 30 ft enclosed trailer (purchased 2 years ago for $6,000) / 4 mowers (2 zero turn lescos and 2 walk behinds) / 4 string trimmers / 2 blowers / 250 accounts of which 8 are commercial. The business grosses about $140,000 per year and he can pay himself a bit over $1000.00 per week. He has never advertized or made any real effort to grow the business. I have lots of business experience although not in lawncare. I plan to try to grow the business by half the first year through direct mail, television and a realtor network I have built from my real estate investing business. Is 60K too much for this business?
10-27-2003, 06:51 PM
Don't think you'll go wrong with any of it,...I too found myself without a "steady paycheck" May 16th of this year and had to resort back to younger days and business ventures to start again. I already had a golf cart trailer and took my 401k $$ and bought a John Deere 737 Z-Trak, Homelite Trimmer, Backpack Blower and the rest is basically history. I'll probably never work for "the man" again,...it's fall now and leaf clean up/gutter cleaning is in full swing. I haven't made a real plan for next year yet because I'm still so busy this year. Most of my best business has come from referals,...I was in insurance/ investing and believe me I have tried all the media with NO RESULTS! I pick out a good neighborhood and walk the street on Saturday(when most people are home and outside),..hand out a card and offer a free pen, calendar, etc. with your business name, etc. on it. I like calendars(with magnets on the back) the best 'cause they look at it each time they go to the refidgerator,..hope this has helped. JW
10-27-2003, 07:22 PM
Thanks JW. I appreciate the insight. Who needs a cubicle anyway?
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