buying a business
Hey guys I was in the lawn business about 7 years ago for 2 years and enjoyed it until all my equipment got stolen. Managed 60+ accounts with ease. I have the chance to buy a very small lawn business which includes 6x12 open trailer, 44" gravely 620hours stilh weedeater, edger, misc tools ect. The owner owns 10 vacation houses that he's currently paying another lawn business to manage. $700 a month. We have come up with a contract for me to purchase his equipment and for me to take over his 10 lawns, I have to give him my boat as partial payment of $2,400 and also give him $600 cash to equal $3,000 down. Also pay him $500 a month for 6 months then the business will be all mine. He's opening a real estate office and is in good with a large real estate company that's local. Chances are high I could get tons of accounts. I do work a full time job and depend on the income even though its not great pay. What do you guys think of this deal? Thanks.