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  #11  
Old 02-24-2012, 04:16 PM
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JB1 JB1 is online now
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i wouldn't hesitate, i would sell.
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  #12  
Old 02-24-2012, 04:20 PM
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Originally Posted by joesimoes2 View Post
if he pays cash don't look back
how many employee's you have
19 employees currently
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  #13  
Old 02-24-2012, 04:24 PM
aaron79mowing aaron79mowing is offline
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If you don't feel confident in you ability to keep it long term, then as long as its a good offer you should sell. I agree, it would be a terrible thing if you had problems down the road and the business tanked. Also if you didn't have to work anymore, perhaps it would be better for your health and well being especially by eliminating all the stress that comes with ownership.
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  #14  
Old 02-24-2012, 04:25 PM
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Originally Posted by fastlane View Post
Will your non compete agreement stop you from starting a new company or only contacting current customers ?
Stop me from starting a new company or working for another.
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  #15  
Old 02-24-2012, 04:39 PM
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Landscraper1 Landscraper1 is offline
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Originally Posted by snomaha View Post
Just curious - how do you know it is worth 1m? have you had a valuation done?
Through the past few years I have spoken to a few Lc's that have either sold or have had offers. I knew that some day I would have to sell so, I gathered as much info on what these larger companies are looking for and modeled my business to match that. I also have a very good idea what they go by to figure out the value of the business.

$1 mil would be an offer on the low end. The business is profitable. Grossed $1.4 mil last year, has quite a bit in assets, and a great customer base.
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  #16  
Old 02-24-2012, 04:44 PM
nepatsfan nepatsfan is offline
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Quote:
Originally Posted by Landscraper1 View Post
Through the past few years I have spoken to a few Lc's that have either sold or have had offers. I knew that some day I would have to sell so, I gathered as much info on what these larger companies are looking for and modeled my business to match that. I also have a very good idea what they go by to figure out the value of the business.

$1 mil would be an offer on the low end. The business is profitable. Grossed $1.4 mil last year, has quite a bit in assets, and a great customer base.
Impossible...you don't have enough posts on lawnsite to gross that much
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  #17  
Old 02-24-2012, 04:58 PM
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Mahoney3223 Mahoney3223 is offline
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Quote:
Originally Posted by nepatsfan View Post
Impossible...you don't have enough posts on lawnsite to gross that much
that's funny. I agree, because according to almost all the guys on here, most everyone on this site does well over 1 million in sales with 20 employees
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  #18  
Old 02-24-2012, 05:03 PM
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Quote:
Originally Posted by Landscraper1 View Post
19 employees currently
Y
That's like 600 k in payroll .
What do you pay in Workman's insurance
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  #19  
Old 02-24-2012, 05:22 PM
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snomaha snomaha is online now
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Quote:
Originally Posted by Landscraper1 View Post
Through the past few years I have spoken to a few Lc's that have either sold or have had offers. I knew that some day I would have to sell so, I gathered as much info on what these larger companies are looking for and modeled my business to match that. I also have a very good idea what they go by to figure out the value of the business.

$1 mil would be an offer on the low end. The business is profitable. Grossed $1.4 mil last year, has quite a bit in assets, and a great customer base.
Have you ever looked at doing a succession plan? Maybe a key employee or group of them? Did one a few years back that maps out exactly what would happen if i were ready to sell, disabled or die. Included potential buyers both internally and externally, stay bonuses for key people, tax minimization and personal financial needs after stepping away from the business.
Similar to your comment - it gave me clarity on what brought value to my business (reoccurring revenue stream, documented processes, profitable).
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  #20  
Old 02-24-2012, 05:44 PM
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Quote:
Originally Posted by joesimoes2 View Post
Y
That's like 600 k in payroll .
What do you pay in Workman's insurance
approx $500k for payroll

approx $30k worker's comp
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