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Selling business looking for suggestions

Discussion in 'Lawn Mowing' started by Toro52, Jul 12, 2004.

  1. Toro52

    Toro52 LawnSite Member
    from PA
    Messages: 22

    Hey quys any suggestions going about selling a business would be helpful. I just graduated high school and am looking to sell my business so that I will be able to focus on college. I currently have a customer list of over 60 clients. I cut 24 residential homes weekly and 18 of them are a tight route. I am looking to sell in the next month so that i can start school, but also have the person who picks up the accounts finishes the year and gets to know the customers for next season. I know all of my clients very well and they love the work I currently do for them. I have;
    1) 52" toro wb
    1) 52" exmark wb
    1) red max eb7000 blower
    2) red max line trimmers
    1) little wonder high output blower
    1) 5x8 trailer
    I have all of the records in quick books. I only want to sell the grass cutting side of my business however, so that in the summers, some of my clients may still ask me for some odd jobs (mulch, bush trimming, planting etc..) I was thinking about a selling price of 21K. I am just not sure how to go about finding someone interested in buying and what i should be doing.

    Any suggestions would be greatly appreciated!
  2. landscapingpoolguy

    landscapingpoolguy LawnSite Senior Member
    Messages: 822

    Unfortunatly you acounts are probably worth about 10% of the gross of the annual contract.....plus your equipment if your also selling that....This is only valid if you have signed contracts.

  3. Firstclasslawn

    Firstclasslawn LawnSite Senior Member
    Messages: 341

    Don't sell your business man, especially if you have 60 accounts, TAKE my word You can't get out of college what you can out of having your own business ---especially if your that young and already have that amount of accounts---ITS NOT WORTH IT TO SELL ------Trust ME
  4. j.p.landscaping

    j.p.landscaping LawnSite Member
    Messages: 66

    I Agree with firstclass.
    Worse case keep everything and hire a foreman to keep the business going. You might not continue with college and find you want to keep your business going.

    Think it over carefully man....

  5. Yard Perfect

    Yard Perfect LawnSite Member
    Messages: 133

    I think he should sell, if he has that many accounts at this age, then after college he will have ended any "noncompete" agreement and he can start easily over and double the accounts. An education is invaluable. Take any money you can get for the equipment, probably not much in the accounts and RUN to college. I have that degree and I get in doors that some can't.
  6. LHLawns

    LHLawns LawnSite Member
    Messages: 24

    I was personally in that situation 4 years ago. I chose to keep the business and hire people to run it for me. Sometimes, it is very hard to juggle the stress and pressure from school and customers but it has all been worth the trouble. Besides, having such a successful business at your age you must have your head on straight. My business has enabled me to pay for my education without any debt. Also, I don't know your plans for the future but most likely they will change. I set out at the age of 18 to be a lawyer, and I am graduating in December with a finance and accounting degree. I also plan to continue to grow my business and take up construction and land development with my father. Whatever you decide to do, put a lot of thought into your decision. Best of luck.
  7. prizeprop

    prizeprop LawnSite Senior Member
    Messages: 822

    GO TO SCHOOL!!!!!!!!!!
  8. mrusk

    mrusk LawnSite Gold Member
    Messages: 3,260

    The buyer will end up getting all the odd jobs in the future.

  9. txlawnking

    txlawnking LawnSite Bronze Member
    Messages: 1,905

    Personally, I'd keep the biz. Get a financial education. My banker doesn't look at my report card, and they Don't teach you how to get rich in schools. If you really must go to school ( which isn't alway's a bad idea, just expensive, and consumes time you could be making money) At least get an MBA or similar degree. That's my nickel...
  10. txlawnking

    txlawnking LawnSite Bronze Member
    Messages: 1,905

    BTW, if I knew the things I now know when I was a teen, I'd already be rich. Seek a Competent Mentor, ( someone who is genuinely RICH, not some broke fool with lots of toys) And seriously ask them to teach you how to become rich yourself. Either way I hope you think a lot harder about the desicions you make than I did at your age....

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