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I currently help a friend who is very successful in the landscaping business in our area. He is a super guy and very knowledgable. He is reaching the age of retirement and this maybe his last year in business. I was thinking of purchasing the company and keeping him on as a part-time employee.
Any idea where to start?
01-11-2005, 10:10 PM
First, see what he will be asking. Then ask to see his gross sales or a profit/loss or balance sheet. Reveiw the Assests(mowing equipment) determine a cost for them, and then determine a cost you are willing to pay for the business. Work out the payment plan or go get the financing. Better to work out a plan with him though. Bank probably will not loan the money with out excess collateral. hope this helps.
Thanks for the response. That is great info for a new guy. I will be speaking with him to see if he is interested in my proposition.
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