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View Full Version : To Buy or Not To Buy


sweeney
12-09-2004, 01:42 AM
This is my first post here and I need some help. Here is a little history first. My business partner and I both worked part time jobs in 1999 when we decided to start mowing grass. Started with a borrowed Sears Craftsman rider from my future mother in law, and a Stihl blower and weedeater. Lined up 8 accounts and made a little cash just trying to learn the do's and dont's. Now, here we are five years later and we have ran out of gas. We grew to 60 accounts, 5 of these were freebies, parents, grandparents, etc. My part time job ended up going to more than full time, averaging 45-50 hours per week, in 2001. My buddies job went to full time in 2003. Everything we have made has always been a 50/50 split. We never took track of hours since we figured it would all work it, which it has until this year. We hired one full timer and another guy that showed up when he could. This past year the only time we mowed was on Saturday to make up for any rain outs and for a few "special" customers who wanted us to mow for them. Here is the kicker, I made a joke a month ago about selling out and he thinks we should sell everything and be happy with the profit. He is ready to hang it up. I have to admit that last year was tough trying to keep up, mowing after work 5 days a week and then all day Saturday and Sunday, praying for rain so I could take a day off. But after we hired some help, I am ready to go again. I think I am ready to buy him out, but I need some help. How do we come up with a fair price? We can guesstimate our equipment value but what about the business itself. Is it worth something? This is what we own, everthing is paid off so give me some feedback.
1981 F250 PU
16 Foot trailer
3 Stihl FS80 weedeaters
2 Stihl BG55 Blowers
1 Stihl chainsaw
1 John Deere pushmower 2003
1 JD F680 Z trak 2002
1 JD F620 Z trak with MCS System 2003
1 2710 Kubota utility tractor 1999
1 6ft woods finish mower
1 5ft woods tiller
1 5ft woods blade
1 5ft Grademaster
1 5ft harrow
misc fuel cans and oil
Thanks for the help in advance

JDLANDSCAPES
12-09-2004, 01:30 PM
The Best And Fastest Way Out Of Any Parternship Is To Ask Him What He Wants To Get Out Of The Sale. Than Offer That Price To Him. If He Want To Split The Profit 50/50 Than Pay Hin 25% Of Gross Up Front Than 10% Of Gros For The Next 12 In Season Months.