Could This Be A Good Idea?

Discussion in 'General Industry Discussions' started by FearThisDeere, Jun 23, 2006.

  1. FearThisDeere

    FearThisDeere LawnSite Bronze Member
    Posts: 1,168

    I was at my Uncle's tonight and he was telling me about selling his established LCO business. Of course my ears perked up! What is boiled down to is that for $22,000 (this price is for me only!) he would sell me his 2004 Chevy 3500 Easterner dump dually, Cargomate enclosed trailer, mowers, trimmers, everything and all of his accounts which includes a cemetery that pays well to say the least. This would be a no brainier for me. I could almost get the $22,000 easily and pay it off just as easily, but I am going to college in 6 months and just don't think that it is the right time to take on all this right now. College is my main priority, but this is just too good of a deal for me to brush off. The dump and the trailer would come in handy at the farm, so they would work twice as well for me. I just don't think it is the right time right now, so I will probably not buy it. Is this a bad idea? Any suggestions?
  2. out4now

    out4now LawnSite Bronze Member
    from AZ
    Posts: 1,796

    Only you can answer that. If you feel you could use the equpment and the price sounds good then maybe yes, would you be doing the exact same business as him and in school? Probably not. If the tools work for you then yes but as a business you may not be privy to all the ins and outs he knows from experience. If nothing else you could hold the equip and liquidate for extra cash for school if you had to I guess. Up to you really.
  3. leadarrows

    leadarrows LawnSite Senior Member
    from N/A
    Posts: 925

    College can wait a year or two...will this deal wait? Do you have any one that can run your business during college time? Can you go to a college near your home? Go to college part time until the equipment is paid for?

    There's always options. What I'M saying is dose it really have to be one or the other or can you find a way to do both.
  4. sildoc

    sildoc LawnSite Silver Member
    Posts: 2,925

    your young. Goto college first. Get educated and then make your decision on what you would like to do. Give yourself options not just a job. Take advantage of being young and the parents. If anything else the experience will help you later in life.
  5. howardsells2000

    howardsells2000 LawnSite Senior Member
    Posts: 355

    I agree, go to college.

    It looks like a good deal though.

    Good Luck
  6. J Hisch

    J Hisch LawnSite Senior Member
    Posts: 952

    I see it like this, I am a business man, and the equipment alone would move me enough to buy. Even if you lost some of his accounts you still would come out okay just on selling off assest if it came to that.

    However back to the issue at hand. College or Business? Well in todays job market almost every job out there wants a college degree or say it's a plus. I know the toyota facotry plant looks at workers with a degree before no degree. Main reason is it shows they can commit to something. Can you commit to the business? If so then go for it.. But be ready to commit to it, if your not sure if you would like or dislike this line of work then stay in school... BY all means.... Either way you or somebody is going to be in dent either with college bills/business bills....

    P.S. Every good business man knows when to go for it and when to back off.
  7. garth1967

    garth1967 LawnSite Senior Member
    Posts: 640

    good deals come along all the time.go to college i say

    when in doubt go without

  8. Roger

    Roger LawnSite Fanatic
    Posts: 5,924

    The discussion quickly migrated to college, or no college, as many other threads on LS have discussed over the years.

    Go to college, no matter how enticing the offer may seem. Sildoc and J Hisch have said it well.

    The idea suggested earlier about waiting for college for a year or two, then keep the business going while going to college -- not a good idea at all. For somebody your age, college needs to be a full-time effort, putting yourself into the task at hand, not just making it a side matter while pursuing other things. Making it a side matter for a young person will, most likely, yield the smallest of results and have little impact on a career. I've have seen it over and over again. And, then the former student says, "See, it didn't do me any good to go to college." In some instances, it may work out fine, but in most cases, the time/money has been spent unwisely.

    TURFLORD LawnSite Senior Member
    Posts: 834

    Depends on what you're going to learn in college. If it's a 2yr buis degree, you've already lost. If it's a hort. degree, it would serve you best to try to do both. My point is that if you go to college to augment your buis skills, giving up an opportunity such as your uncles would be a waste. If your going to learn how to be a brain surgeon, screw everything else.
  10. FearThisDeere

    FearThisDeere LawnSite Bronze Member
    Posts: 1,168

    I am going to be going to college part time 25 minutes from home and living at home until i can afoord an apartment. Right now he works 45 hours a week plus landscaping, so I could probably match his work hours. I just think that this is not the right time to do this. College worries first, then expand the business later on.

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