Thinking about selling it all. Give me you opinion.

Discussion in 'Lawn Mowing' started by TNT Lawncare, Jun 3, 2008.

  1. TNT Lawncare

    TNT Lawncare LawnSite Senior Member
    Posts: 263

    Ok. After being in the business for 4 years, I am really considering going back to a job that has retirement and a paycheck every week. Yeah, I know I make way more now than I ever will doing that but money isn't everything. I think I might still mow probably about 5 resi's that are really good customers of mine and would only want me to do it. My question is, how much is my business worth? How much could I expect to get if I were to sell now, for the equipment and the accounts. You can see what equipment I have in my signature and I am going to do between 80 and 100K this year in business. I plan on keeping my Ferris, trimmer, and blower. I figure my equipment is worth about 20K alone. What do you guys think?
     
  2. freshprince94

    freshprince94 LawnSite Bronze Member
    Posts: 1,449

    I would keep it. If you like LCO work and have a good thing going, why get rid of it? In the long run, you'll probably miss this more than you would the job you talked about.
     
  3. cgll1135

    cgll1135 LawnSite Member
    Posts: 89

    Find someone to manage it for a percentage of the business but keep over 51% for yourself. By doing so you will continue a revenue stream plus a place to go if your old job doesn't work out.
     
  4. zemzabob

    zemzabob LawnSite Senior Member
    Posts: 321

    I agree with that
     
  5. johnnywill08

    johnnywill08 LawnSite Senior Member
    from MA z6
    Posts: 383

    don't give up now dude, yr 4, 5 and 6 is when you'll start making money. i know money ain't everything but being your own boss is damn good.... when you start making good $$$ you'll put together your own retiremnt pkg..... start this year with a basic IRA, talk with a finance guy, but manage your own IRA- very easy. try vanguard for investing (low fees).... i could never work for someone else again..... good luck, man.
     
  6. J.A.G LAWNCARE

    J.A.G LAWNCARE LawnSite Senior Member
    Posts: 931

    you might get around $40,000 if lucky.....
     
  7. larryinalabama

    larryinalabama LawnSite Fanatic
    Posts: 17,354

    I would never leave a 80k business to work for someone else, save your own money for retirement, Did you fall out of bed and hit your head on the floor this morning? LOL
     
  8. supercuts

    supercuts LawnSite Silver Member
    Posts: 2,785

    assuming you keep your truck, ferris, trimmer, and blower, whats really left to be worth $20k?? typically when you off load it as a package you give a package deal meaning a bit less then if you wasted your time selling each piece seperately. so even if it was really worth $20k added up , you are going to take a hit if sold as a lot. the toro is an 01 and not too many run 72" Ztrs.

    not trying to bust your bubble but to me it isnt worth much at all. you could prove me wrong and get money for it, some do, and im really not sure how.

    if your making $80k+ you should be putting money into an IRA or some sort of retirment now.

    my $0.02 good luck
     
  9. KingMoneyNYC

    KingMoneyNYC LawnSite Member
    Posts: 63

    I think what he means is his gross income, before expenses is 80k to 100k...maybe i'm wrong though - Anyway my opinion is its always better to have your own business, flexibility, alot of room to expand, and generally just more fulfilling...Regarding benefits, you need to discipline yourself a little, like johnnywill said do an IRA with Vanguard (best in the industry), and if you really need it get health insurance, with someone like oxford. Getting back to the IRA you would be really surprised what an initial investment of $10,000 and a monthly investment of $500 would do over 15-20 years
     
  10. k911lowe

    k911lowe LawnSite Senior Member
    Posts: 526

    anyone who buys your business will have a calause in there that says you will discontinue work in that area,if hes smart,then what?
     

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