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Selling Business

Discussion in 'Business Operations' started by HLM86, Oct 22, 2008.

  1. HLM86

    HLM86 LawnSite Member
    Messages: 120

    If you were to sell your lawn care/landscape business would you have the potential buyer sign something saying that if you show him your account list with income that he will not decide to not purchase the business and then go out and try to take your accounts? If so, any ideas on wording, or would I need my attorney write up something like this? Thanks for any help.
  2. brandtb1

    brandtb1 LawnSite Member
    Messages: 153

    I would have them sign a confidentiality agreement. I would spend the few hundred bucks to have an attorney draw it up. Someone will want to look deep into your business and you need to give the info to get the best price, but you cannot have them use that info to put you or your buyer out of business. I would make them sign the form before you released any financial specifics about the business. You can tell them how many yards and what you gross, but do not tell them I do this yard for X amount until you know they will not use that against you. I would have the attorney try to put a non compete clause in there where they could not bid on the yard for 12 months after you release the price info unless they purchase the company. Be careful of who you tell without having some assurance they will not steal from you.
  3. BillyRgn

    BillyRgn LawnSite Member
    Messages: 248

    i agree brandtb1, if you are having someone sign a something like that, i wouldn't't even try to do it myself, have the lawyer do it so that way you don't put something on it that is illegal, or can get your self screwed, but if your telling a prospect your numbers, defiantly have them sign a confidentiality agree meant and a no competition clause
  4. Green Finger

    Green Finger LawnSite Senior Member
    Messages: 839

    Don't allow them to see your list. Just let them know what your monthly revenues.


    modify your list without the names and address. Just have the area with the monthly dollar amount.

    No deposit, no complete customer list.:nono:

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