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Discussion in 'Business Operations' started by Landscraper1, Feb 24, 2012.
i wouldn't hesitate, i would sell.
19 employees currently
If you don't feel confident in you ability to keep it long term, then as long as its a good offer you should sell. I agree, it would be a terrible thing if you had problems down the road and the business tanked. Also if you didn't have to work anymore, perhaps it would be better for your health and well being especially by eliminating all the stress that comes with ownership.
Stop me from starting a new company or working for another.
Through the past few years I have spoken to a few Lc's that have either sold or have had offers. I knew that some day I would have to sell so, I gathered as much info on what these larger companies are looking for and modeled my business to match that. I also have a very good idea what they go by to figure out the value of the business.
$1 mil would be an offer on the low end. The business is profitable. Grossed $1.4 mil last year, has quite a bit in assets, and a great customer base.
Impossible...you don't have enough posts on lawnsite to gross that much
that's funny. I agree, because according to almost all the guys on here, most everyone on this site does well over 1 million in sales with 20 employees
That's like 600 k in payroll .
What do you pay in Workman's insurance
Have you ever looked at doing a succession plan? Maybe a key employee or group of them? Did one a few years back that maps out exactly what would happen if i were ready to sell, disabled or die. Included potential buyers both internally and externally, stay bonuses for key people, tax minimization and personal financial needs after stepping away from the business.
Similar to your comment - it gave me clarity on what brought value to my business (reoccurring revenue stream, documented processes, profitable).
approx $500k for payroll
approx $30k worker's comp