Business Take Over

Discussion in 'Starting a Lawn Care Business' started by sod1, Jan 9, 2005.

  1. sod1

    sod1 LawnSite Member
    from Ontario
    Posts: 2

    I currently help a friend who is very successful in the landscaping business in our area. He is a super guy and very knowledgable. He is reaching the age of retirement and this maybe his last year in business. I was thinking of purchasing the company and keeping him on as a part-time employee.

    Any idea where to start?
     
  2. J Hisch

    J Hisch LawnSite Senior Member
    Posts: 952

    First, see what he will be asking. Then ask to see his gross sales or a profit/loss or balance sheet. Reveiw the Assests(mowing equipment) determine a cost for them, and then determine a cost you are willing to pay for the business. Work out the payment plan or go get the financing. Better to work out a plan with him though. Bank probably will not loan the money with out excess collateral. hope this helps.
     
  3. sod1

    sod1 LawnSite Member
    from Ontario
    Posts: 2

    Thanks for the response. That is great info for a new guy. I will be speaking with him to see if he is interested in my proposition.

    Take Care!!
     

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