Buying out? Be careful!

Discussion in 'Lawn Mowing' started by Lawn Masters LC, Feb 25, 2005.

  1. Lawn Masters LC

    Lawn Masters LC LawnSite Member
    Posts: 39

    We are in the process of buying out a established lawncare business. The seller apparently let on to one of his past employees about the sell out. Now the past employee is hitting up all of the customers saying that he is stepping in. Something we never really considered. Bad experience for us, advice for you!
     
  2. packerbacker

    packerbacker LawnSite Bronze Member
    Posts: 1,433






    What has the owner said?
     
  3. Lawn Masters LC

    Lawn Masters LC LawnSite Member
    Posts: 39

    You know the owner has said "no problem". Yeah right!, Big problem. We've let him know that deal is off if the problem persist. We've already lost 1 residential. However, most properties (22) are commercial, and I don't think this one guy can pull those off. We prepared a letter to go to all customers but owner was way to slow providing complete customer list and addresses. Now we've completed numerous repairs to his crappy equip. So if the deal falls through, he'll owe us.
     
  4. Lawn Masters LC

    Lawn Masters LC LawnSite Member
    Posts: 39

    By the way, it was supposed to be sold to the existing customers as a merger. This is not a lie because the previous owner was/is going to stay with us to provide irrigation install and service plus liquid chem consultant.
     
  5. packerbacker

    packerbacker LawnSite Bronze Member
    Posts: 1,433

    Unless those accounts were under contract then I wouldnt do it. You better make sure you get ahold of all the customers and have them sign a new contract with YOUR company.
     
  6. Lawn Masters LC

    Lawn Masters LC LawnSite Member
    Posts: 39

    Yeah, I know. However, the previous owner evidently leaked the change over before we could complete it. Totally unprofessional. Am I wrong?
     
  7. tiedeman

    tiedeman LawnSite Fanatic
    from earth
    Posts: 8,745

    that is why when it deals with stuff like that you say nothing. I was almost bought out a few years back, and the deal was final (but I got out, long story) and I never told employees or anything two weeks before the switch over two days after I sent out letters to customers. The other place never told their employees either until 1 day before.

    Sure employees were mad at me, but its business, and unfortunately my family comes before my employees. If it meant keeping it quite for everything went smoothly to make sure that my wife and I was provided for, you are d@mn right I am having a closed mouth.
     
  8. custom landscape inc

    custom landscape inc LawnSite Member
    from 28601
    Posts: 4

    Couldn't help but notice the buyout deal lawnmasters. I went through a similiar situation a couple of years ago. Needless to say everything turned out to the good for us. How are things going for you?
     
  9. Randy Scott

    Randy Scott LawnSite Bronze Member
    Posts: 1,915

    That's right, I would do the same. You think any employee gives a $hit when they quit and move on? Not.
     
  10. Guthrie&Co

    Guthrie&Co LawnSite Senior Member
    from nc
    Posts: 784

    lawnmaster, are you still up? if so call me on the cell in hickory
     

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