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Looking to buy a business, what do you think?

Discussion in 'Lawn Mowing' started by Oasislawnman, Nov 10, 2007.

  1. Oasislawnman

    Oasislawnman LawnSite Member
    Messages: 22

    I am in talks with someone to buy their business. They have 22 accounts and they generate about $36,000 a year in business. He has a Toro 62 inch Z-turn that he bought in 2000, he has a 7x14 non-enclosed trailer, 2 older riding mowers, 2-21 inch push mowers, 2 weedeaters, 1 edger, 2 hedge trimmers, and a blower. The equimpent is rather old. He is asking $15,000 for it.
    He will give 2 months of consultanting.

    What do you think?
  2. thill

    thill LawnSite Member
    Messages: 245

    No way is it worth $15K

    Don't pay more than two months revenue for the accounts and 10% of the cost of the old equipments.

    Buy the equipment up front (@10 cents on the dollar) and pay out the rest based on actual revenue over a short period of time.
  3. Scagguy

    Scagguy LawnSite Bronze Member
    Messages: 1,522

    Maybe 5K at best. At 15K this sounds like you're buying it from a used car sales guy.

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