Good Luck When Buying a Business

[lbmd1]

I just wanted to share my good experience when purchasing a business since there sems to be so much of the downside posted. 3-4 years ago, I had about 60 accounts in an area surrounding a high class town that only a few landscapers were accepted in. One of these "local boys" decided to sell his 45 accounts that grossed about $1500 a week. The asking price was $9000. No equipment, name, just the accounts. My wife and I came up with the money to buy this "foothold" in this upper class area. It was the best thing we could have ever done. Because of the prior planning of the changeover, we have only lost 1 account due to a client moving. These accounts have grossed over $43,000 in just MOWING alone each year, times 3 years is $129,000. Just from a $9000 investment!!! That's a return of almost 14 times our original investment. We now are the predominant lawn service in this inner circle community and have grown to over 140 weekly accounts. Our clients sometimes call us "perfectionists" due to my wife's involvement of finishing touches that most LCO's forget. So for you guys underestimating what someone should sell their business for or for the ones contemplating buying one, remember that their is more to it than just the equipment, goodwill, or asking price. We now have about 40 accounts for sale as well if anyone is interested in making a move up to the New Hampshire seacoast. The asking price: a measley $5000. So if anyone has any questions about buying a biz, please feel free to contact me.

Mike

[hortusa]

I know many people that bought into the buis and is doing well for themselves.Around me, a guy that i despise had 1 worker 1 year and then he bought a buis 2 years later he has a 40,000 dump and 6 workers all from buying a buis.I believe in buying buisnesses cause i never heard of anybody buying one and losing, however I'm sure it can happen. I also read some guy wrote that instead of buying, take that 10,000 to 20,000 and advertise with it .What has a bigger risk? Although the problem is how do you figure what the buis is worth? Look at this, Are we working and breaking our backs for so many years to establish a well run money making machine to eventually sell it for 10% of the gross of what we worked so hard for? Also I believe that where can you pick up X amount of accounts so fast with the possibility of more cause your new in the area or block then buying a buis .
Your thoughts.

[zimm4]

sounds like you came out smelling like A rose.
Im glad to see someone show the good side of purchasing someones business.