I started in the biz 5 years ago when my son was 13. He is now going to be a senior in h.s. and things have gone well for us. It's truly is a great experience to work hand in hand with your son on a daily basis. He has concentrated on expanding the mowing end of things and currently we cover 62 acres on 18 different accounts. We purchased a 997 and 797 new this spring and kept a '02 725 grass hopper that we bought used in '03. I have been spraying all the accounts that we mow plus some others. I use the 725 g.h.with a Pro Lawn 11' shielded sprayer. The question I have is the guy that we used to hire to do our spraying before I was licensed wants to sell. He called me and said point black that he wants me to have it. He has been spraying for 44 years and has 385 accounts. I met with him last week at his house and he showed me the books from the last 10 years, account lists along with gross income from each year. When I left he told me to get back with him and give him a price. He told me that a % of what is made next year would satisfy him because he don't want any thing other than cold hard cash. He is willing to spread the payments out over a couple of years if I would like. Has anyone ever purchased a business like this? Give me some ideas and thoughts please! Thanks, you are all great mentors!
SOunds like a great opportunity, I left you a PM about doing a buyout, Good Luck! What part of Ohio are you located?
serious question. is the guy a little looney? kind of like when you walk into the body shop and you can always tell who the painter is.
I've had dealings with him in the past and he seemed okay. The fact that he is 89 years old might have something to do with it but we have treated him like a grandfather for several years and he has taken a liking to us
not sure if you got the PM's because got a return message that your not set up to receive them. Any buyout should have an paperwork written up through an attorney to make sure your friend doesn't ahve any pending litigation against his business or any liens against the business that may come back to haunt you in the future. Sounds again like a great opportunity, but always proceed with caution. What part of Ohio are you in?
Sorry grassguy, yesterday was the first day that I signed up to post. I will get that taken care asap. We are located more towards the north and west corner of the state. I appreciate your advice with the legal end of things, that makes a lot of sense. Knowing what income he is generating, how would you put a value on it?
You better jump on it for that price, because if tru-brown, your local Scott's , or anyone like that you have arouind you gets wind of this, they'll be ringing his phone with counter-offers. Serious biz.
Twin Cities Lawn Care : good luck ....there is a guy named phil nealson (i think he used to post on this board)that knows about buying and selling lawn services...i had not delted with this guy so i dont know...
