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  #1  
Old 09-03-2007, 12:43 PM
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johnsonslawnmanagement johnsonslawnmanagement is offline
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Location: Corinth, Mississippi
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buying accounts from guy with cancer

i was recently approached by a man who wants to sell me his accounts. He is terminally ill and wants $15,000 for 80-100 accounts. None are on contract. He is willing to take me to meet the accounts and explain to them that i will be taking over. He will sign a no-compete-agreement , and I have no obligation to buy his equiptment. He just wants $15k for the accounts. what should i offer or should i run the other way? I currently have 40 accounts i service by myself in 2 days and he says it takes him 4 to do his by hisself. I thought i would hire one guy and we could handle it. what you guys think?
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  #2  
Old 09-03-2007, 01:08 PM
stevenf stevenf is offline
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Personally, I wouldnt do it. If you are willing to spend $15k on accounts, then you should have no problem spending half that on advertising. Thats what I would do atleast.
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  #3  
Old 09-03-2007, 01:11 PM
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cclllc cclllc is offline
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Quote:
Originally Posted by stevenf View Post
Personally, I wouldnt do it. If you are willing to spend $15k on accounts, then you should have no problem spending half that on advertising. Thats what I would do atleast.
I agree. There is no guarantee those people will use you.
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  #4  
Old 09-03-2007, 01:34 PM
KTO Enterprises KTO Enterprises is offline
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I say atleast talk to the customers and see what they say. There is a good chance at leas 80% are ones that have been with him a long tie and are very loyal customers.
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  #5  
Old 09-03-2007, 07:43 PM
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Patriot Services Patriot Services is offline
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I dunno guys. The fact that he will be introduced as the guy who is good enough to carry on this business after the current owner gets too sick or dies carries a heavy sympathy vote. Especially if he acts humble and tries hard to live up to the current standards. Now the other side of the coin is 120-140 accounts solo? That is a great deal more than the 40 he has now. It would be a shame to buy these and then have to give them up from overload. he could also easily spend 15k on advertising and not get anywhere near that many accounts in a short time. Tough call. Good Luck
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  #6  
Old 09-03-2007, 10:26 PM
SlowMow SlowMow is offline
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Join Date: Jun 2007
Location: Fort Hood, TX
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Quote:
Originally Posted by johnsonslawnmanagement View Post
i was recently approached by a man who wants to sell me his accounts. He is terminally ill and wants $15,000 for 80-100 accounts. None are on contract. He is willing to take me to meet the accounts and explain to them that i will be taking over. He will sign a no-compete-agreement , and I have no obligation to buy his equiptment. He just wants $15k for the accounts. what should i offer or should i run the other way? I currently have 40 accounts i service by myself in 2 days and he says it takes him 4 to do his by hisself. I thought i would hire one guy and we could handle it. what you guys think?
You can do 40 accounts in 2 days? WOW!!!!! What are they 1/8 acre lots and no trimming or what? That seems incredible to me. As far as the question goes, I would go with him to the accounts and if they seem halfway willing to stay with you, then HECK YEAH!!!! I wish someone around my neck of the woods offered me this kind of deal I wouldn't be able to write a check fast enough. Just my thoughts anyway.
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  #7  
Old 09-03-2007, 10:40 PM
daysel daysel is offline
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Location: TEXAS
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Originally Posted by SlowMow View Post
You can do 40 accounts in 2 days? WOW!!!!! What are they 1/8 acre lots and no trimming or what? That seems incredible to me. As far as the question goes, I would go with him to the accounts and if they seem halfway willing to stay with you, then HECK YEAH!!!! I wish someone around my neck of the woods offered me this kind of deal I wouldn't be able to write a check fast enough. Just my thoughts anyway.
Exactly what I was thinking. Then 100 yards for one person?
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  #8  
Old 09-04-2007, 06:02 AM
StBalor StBalor is offline
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Location: Millersville, Maryland
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I think i would run. 80 - 100 accounts? Come on, if i was selling my accounts i'd damn sure know exactly how many i had and not a guesstimate.
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  #9  
Old 09-04-2007, 07:11 PM
Clean Lawn Clean Lawn is offline
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Location: Virginia Beach, Virginia
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I would only buy accounts of customers that will sign at least a 1 year service contract with you and only those customers. Yes, he should take you to each person and explain that he needs to leave the business for health issues. Then its up to you, you can pay either 1-2 months of what those contracts are worth. If you want equipment look around and see what used equipment is going for but remember its equipment that has been used a lot. Anyone with a decent amount of accounts is using that equipment and not everyone is as stellar about taking care of it as others are.
Hope this helps.
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  #10  
Old 09-05-2007, 08:09 PM
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johnsonslawnmanagement johnsonslawnmanagement is offline
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Location: Corinth, Mississippi
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how about this angle, offer to buy all his equipment in exchange for the accoutns. That way if things did go south, at least i would have an asset to liquify and get my money back.....?
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