Anybody sell their biz & hold paper?

Discussion in 'Irrigation' started by Mike Leary, Apr 7, 2007.

  1. Mike Leary

    Mike Leary LawnSite Fanatic
    Messages: 23,174

    The guy that bought the biz in danger of client's bailing....what would you do?
  2. SprinklerGuy

    SprinklerGuy LawnSite Bronze Member
    Messages: 1,778

    More info please..........
  3. jirrigation

    jirrigation LawnSite Member
    Messages: 27

    I don't think there's anything you can do. Maybe send out a letter to all customers giving some sort of explanation as to what happened and if/how well established the company is. As well, if it was me, I would offer a % discount for the first year. After the first year is up, quality of service will determine if he holds on to the rest or not.
  4. Mike Leary

    Mike Leary LawnSite Fanatic
    Messages: 23,174

    These are clients I've had for twenty years, friends, I've watched their kids
    grow up. The new owner, nice guy, does not fit right in, yet, he will.
    Trouble is, he (by rights) wants to run the show....a show he has only one
    year experience doing......I'm stuck in a hard place.
  5. Dirty Water

    Dirty Water LawnSite Fanatic
    Messages: 6,794

    Are you concerned at all about Russ reading this?
  6. Mike Leary

    Mike Leary LawnSite Fanatic
    Messages: 23,174

    No, he knows.
  7. londonrain

    londonrain LawnSite Silver Member
    Messages: 2,129

    Two guys in my area sold their companies a few years ago. One guy who purchased one company has since filed for bankruptcy and the other guy quit paying the original owner and started another company under a new name....
  8. Mjtrole

    Mjtrole LawnSite Member
    Messages: 226

    Sounds like the guys didn't have his stuff together. It's a simple matter of having the papers drawn up so that can't happen, maybe a no-compete if he fails to live up to his end of the deal.
  9. sheshovel

    sheshovel LawnSite Fanatic
    Messages: 5,112

    Listen Mike, he can buy your business but he can't buy clients. He runs the risk of loosing the existing clients when he buys a service orientated business. I suggest you PM rodfather about this issue, he's the man when it comes to this kind of thing. Just tell him She sent you.
  10. Mike Leary

    Mike Leary LawnSite Fanatic
    Messages: 23,174

    Agreed, Hank's trying hard & understands it's not easy to deal with some
    of the a.......s I learned to handle. The "hand holders" are a part of the biz,
    & after twenty some years of dealing with me, it's not a easy transition.
    You'd think they would all be glad to get rid of me!!!!!!!!!!

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