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Old 03-08-2002, 10:46 AM
Ground Master Ground Master is offline
LawnSite Senior Member
 
Join Date: Feb 2002
Location: colorado springs
Posts: 505
Buying a competitor

I know a local guy who has offered me his business.

It is one of the top companies in the area, focusing on high end homes.

$300,000 in sales in 2001, 50% mowing, 50% landscaping
he claims a net of 100,000.

he's asking $350,000 (50,000 equipment, 300,000 business, customers, etc.)

he will stay on for a year to assist in transition......says 4 to 5 employees will stay.

has no shop......is running biz from big garage at his house.....thats not included.

he will do anything customers need outside of lawn work, replace appliances, pick up newly purchased furniture, etc.

I think price is high. I don't think many people could duplicate his annual sales considering all the extra type work he does.

Any thoughts?
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