Please help me with business offer

Discussion in 'Business Operations' started by lawn, Oct 18, 2010.

  1. lawn

    lawn LawnSite Senior Member
    Posts: 344

    I had some guys very interested in our business, some of them came a couple of times to check on the numbers, etc, when we got to the agreement day they disappear, some said that could not afford it, some said that was too risky in this economy and some never responded to me ( which bugs me because I spent a lot of time with this guys showing everything from equipment to numbers)
    Now, I have a guy that is interested, but he does not have all the money so he is offering a 10-20 %down and then he want us to finance him, in other worlds he will not go to a bank to get a loan, he will pay us.
    What do you think about that? should I ask at least for 30% down? how much will be the interest to charge him per month? what should I do? I have no idea on how to sell the business.... please help!
    Thanks guys!
    Here a beer!:drinkup:
     
  2. lawn

    lawn LawnSite Senior Member
    Posts: 344

    no comments?:confused::cry:
     
  3. ok , 10 or 20 percent down aint nothing in my opinion, he could probably run it into the ground and your really out.
     
  4. STL Cuts

    STL Cuts LawnSite Senior Member
    Posts: 493



    I hope you have these "buyers/lookers" sign some paperwork before you just open all of your numbers up to them. For all you know, they could be friends with your competitors and now they know who you're clients are, how much you charge, etc. which in the hands of your competitors could come back to bite you in the a** (Ex. One of these people sees your client list, acts interested, and then goes to these clients and says something along the lines of "You know XYZ Lawncare is about to sell out, you should go with our company and we will even give you a better price" as they now know what you are charging.)
     
  5. blk90s13

    blk90s13 LawnSite Bronze Member
    Posts: 1,452

    sure 20% down and when paid in full you get titles and all the paper work till then he works for you
     
  6. wbw

    wbw LawnSite Fanatic
    Posts: 5,424

    True words. Number 1 priority is how do YOU protect YOUR interest. If he is a bad operator/businessman he won't be able to pay you and you won't have many customers left.
     
  7. lawn

    lawn LawnSite Senior Member
    Posts: 344

    Thanks for your advice guys, so how much down can I ask for? 50 % at least? it seems like nobody has that kind of money all at once, I really feel stuck, i do not know what to do.

    ( I am not showing the names/addresses of my clients, just what we made last couple of years)
     
  8. lawn

    lawn LawnSite Senior Member
    Posts: 344

    any more inputs?
     
  9. TheGoat

    TheGoat LawnSite Senior Member
    Posts: 273

    what is your reason for selling?

    if you can't get your asking price, you may need to adjust downward if you are intent on getting out.
     
  10. lawn

    lawn LawnSite Senior Member
    Posts: 344

    retirement
     

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