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looking at buying Dads co.

Discussion in 'Business Operations' started by soccer coach, Aug 28, 2002.

  1. kris

    kris LawnSite Bronze Member
    from nowhere
    Posts: 1,579

    Allot of good advise here .... except the one that said start on you own and take your Dad's clients.
    Sounds to me like you have nothing ... your injured and your Dad is trying to help you out.
    Work out the best deal you can for both of you and have a lawyer look it over and finalize the deal.
  2. soccer coach

    soccer coach LawnSite Member
    from midwest
    Posts: 104

    Kris, That is the way we, wife and I, are looking at it. I'm going to have shoulder reconstruction surgery done to make my shoulder have less pain and some more use but still will be limited. We have agreed that it will be looked over by his guy and one of mine before we shake. Thanks for all the help.
  3. scott's turf

    scott's turf LawnSite Senior Member
    from NH
    Posts: 949

    Are there any employees? You said that your dad wants what he used to get which I assume is everything after the expenses are done with which would leave you with nothing. You are in a unique situation but like others have said $100,000 gross is not that much at all. Net is all that matters. I would be surprised if he netted $65k. This type of business is hard to run with two cheifs. Not enough money to go around
  4. Mack

    Mack LawnSite Member
    Posts: 80

    I just have one thing to say.. Dad won t be here for every. and I think you need to enjoy the time with him.. I just got a call that my mom has bone cancer. I live in ohio and she lives in michigan. So all i can say is enjoy the time with them because you don t know what will happen and does it really matter. Sorry just that it hits hard after. Thanks
  5. Mack

    Mack LawnSite Member
    Posts: 80

    I think you should sit back and enjoy the time with your dad and not worry about what to pay him. I just got a call that my mom has bone cancer (which has no cure) and gave her 3 years. I live in ohio and she is in michigan and with the mowing season I will have to make a big effort to see her. Sorry If i sound rough but enjoy the time you have with family, it goes fast. Thanks for letting me get this out.
  6. strickdad

    strickdad LawnSite Senior Member
    Posts: 544

    my question is , if the company for some reason begins to lose money do you still have to pay? or can you do as any of the rest of us and lay employees off? the way it is now he can only take a owners draw, in other words if the co. begins to lose money he does too. but if he becomes a "contract" employee, then if the co. loses he want , but you will...
  7. soccer coach

    soccer coach LawnSite Member
    from midwest
    Posts: 104

    If the co runs into bad times he would as well. It looks like the deal might not happen as his wife is having some second thoughts. Only time will tell. His co is running on a 60-65% profit and has for years. He mainly does maint. of existing landscape. Almost no mowing so he has very little equipment. I don't understand how the mow only guys make any money. It seems the bigger"expensive" equipment they have the cheaper they will work for. Something is wrong with that picture. Yard A is a 50.00 yard no matter what' using a 21" mower or a 60" you still did the same lawn.

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