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Discussion in 'Business Operations' started by smarino21, Jul 10, 2006.
I was thinking of trying to buy out some companies so grow. You guys have any word on this?
That's how many I know have done it and works out well.
beats advertising IMO
I have bought out 2 residental mowing companies, one with 22 acount now equipment the other 90 accounts and equipment both have worked out great and makde monewy off the investments very quickly.
works like a charm
yea i understand what it works good but what price is too much to pay. Obviously you got the equipment cost but then you got the accounts which is the real value?
Also i like to have all the same equipment and buy from the same place so you think you could make any money selling there equpmt?
For those of you that have bought out other biz's, how did you go about getting the ball rolling in the first place for the deal? Did you just start talking and make offers, look around for those wanting to sell, or what?
I started sending letters to prospects to see if I got any response. I had a couple of calls, and started talking to one person and made a deal. I did this in the fall so I gave some money up front and held the rest until spring to make sure I got the accounts. I made the final payment contingent on the numer of accounts that I kept. I only kept 10 of 24 so his final payment was much less than the agreed upon price. I also had him sign a non compete clause as well. Hope this helps.
Saves a lot of leg work and adds new markets with little effort if done correctly.
just looked around for people mowing for $20 a yard and of all the bankrupt people a piced one to offer a few peanuts to.