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Selling the company, looking for some input.

Discussion in 'Business Operations' started by MowingMowingMowing, Jan 3, 2012.

  1. MowingMowingMowing

    MowingMowingMowing LawnSite Senior Member
    from Midwest
    Messages: 526

    I've been in the lawn game since high school and will be graduating college in May 2012 and pursuing a career in finance. After much thought, I have concluded it is best to sell my business.

    My business is based primarily on mowing paired with some other services as well.

    I am located in the Midwest and am looking for some feedback for those that have went through this process.

    I'm particularly wondering how you sold your company. Did you use Craigslist, BizBuySell, a business broker, or something else?

    Additionally, and I know this answer will vary, but for those in the Midwest what can be expected as far as configuring a sale price. It seems everyone is basing it off of a certain number of cuts. If you did this, how many cuts was this?

    Thanks in advance for the help guys.
  2. ashgrove landscaping

    ashgrove landscaping LawnSite Gold Member
    Messages: 3,529

    I say keep it and hire someone to work it. That way you always have extra income and something to keep you going in case your new job falls through or your new employer decides you re not needed. It s free to keep and make more money.
  3. MarkintheGarden

    MarkintheGarden LawnSite Bronze Member
    Messages: 1,133

    There are Business Broker companies. I get emails from one here in St. Louis once a week with listings of various businesses for sale.

    There are so many variables in determining a businesses value that it is a case by case thing.

    I am not familiar with bizbuysell. I would not bother with Craigslist, you will get unqualified offerers, along with a bunch of spam, scam, and garbage.

    Where is your business located? I am not in a position to purchase, but still curious what you are selling, so post as many details as you like, and maybe you can find a buyer here on lawnsite.
  4. MarkintheGarden

    MarkintheGarden LawnSite Bronze Member
    Messages: 1,133


    The above is a link to the business broker that I mentioned. I cannot tell you anything about the company, except that they send me a list every week with the businesses that they are brokering for sale.
  5. nwimaintenance

    nwimaintenance LawnSite Member
    from 46307
    Messages: 74

    Where exactly are you located?
  6. Fvstringpicker

    Fvstringpicker LawnSite Fanatic
    Messages: 7,670

    Bear in mind the tax consequences of the sale. Since your business is heavily equipment intensive, chances are you may be faced with recapture of section 179 write off recapture plus recapture of all depreciation as ordinary income under section 1245.
    Last edited: Jan 5, 2012
  7. Efficiency

    Efficiency LawnSite Bronze Member
    from zone 6
    Messages: 1,811

    that is the truth! Its a shame that most businesses in this industry are worth more alive/running than dead/sold.

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