Got good news today!

Discussion in 'Starting a Lawn Care Business' started by JD71, Jan 27, 2010.

  1. JD71

    JD71 LawnSite Member
    Posts: 47

    I am basically a start-up business, however I was approached a few months ago about buying another small lawn business in which the owner is moving and needed to sale. Well, after alot of investigation, research, and offer making we came to terms today on an agreement! I am stoked! Not only am I getting about 50k in business (contractual business), I am also getting about 7k worth of equipment as well. The best part is, that I got it for a GREAT price! I took alot of advice from people on here about this process and it really helped, the terms that we agreed upon are allowing me to be more assured that I am keeping accounts before I pay him for them.
    Now, all of the real busy work begins!:clapping:
     
  2. collegefundms

    collegefundms LawnSite Member
    Posts: 98

    Very nice! I wish the best of luck to you this year!
     
  3. LouisianaLawnboy

    LouisianaLawnboy LawnSite Silver Member
    Posts: 2,199

    How much did you end up paying total?
     
  4. JD71

    JD71 LawnSite Member
    Posts: 47

    LA Lawnboy.....I paid 12500...
    Posted via Mobile Device
     
  5. LouisianaLawnboy

    LouisianaLawnboy LawnSite Silver Member
    Posts: 2,199

    Congratulations. :)

    Not a bad deal.

    Be careful though, I paid 4,000.00 for 25 accounts and lost half of them.
     
  6. JD71

    JD71 LawnSite Member
    Posts: 47

    I know that can happen. So the current owner is gonn a work with me for a few weeks and we r gonna visit all customers and if anyone bales I will deduct $ from final payment
    Posted via Mobile Device
     
  7. LouisianaLawnboy

    LouisianaLawnboy LawnSite Silver Member
    Posts: 2,199

    Get that last part in writing.
     
  8. JD71

    JD71 LawnSite Member
    Posts: 47

    Oh, it is! It is a Schedule "A" attached to the purchase agreement. My best friend is a Corporate Attorney
    Posted via Mobile Device
     
  9. vanncann

    vanncann LawnSite Senior Member
    Posts: 452

    Congrats!!! Keep us filled in...
     

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