Thread: Buying accounts
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Old 03-16-2012, 01:46 PM
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Ric Ric is offline
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Join Date: Sep 2001
Location: S W Florida
Posts: 11,356
Quote:
Originally Posted by fl-landscapes View Post
Fl

Great site that should set a lot of people straight. It pretty much doesn't matter what state or area the Business is for sale in. Prices are running 80 to 125 % of gross sales or 150 to 300% of Net Income. Add in Owner Financing and their risk factor and you will being paying a lot more. Banks won't jump on Business purcahses unless they have Hard Collateral like Real Estate.

I sold my Business to my Employees and Financed it. However they couldn't buy the Pest Control, so I sold it separate. After a Failed go round with TG/CL who buys income all the time. I sold to 3 different smaller companies getting 100% on a years Gross up front. TG/CL wanted a huge hold back for lost accounts. That was a last minute offer at the lawyers office for a closing that didn't happen. BTW I did have to sign a No Compete for 1 year. Florida courts only honors Non compete for one year. I waited two years before going back in business and never approached my former customers.
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