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Buying my partner out


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Old 10-02-2006, 01:29 PM
Billz Billz is offline
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I posted this on ******** too, but you guys have always been super helpful.

I am going to buy my partner out of our business, and need to determine what the value of all our equipment is. Is there a "blue book" for lawn equipment too? I will list it all and see if you guys can help me figure out what they might be worth

2002 f-350 with plows, and 61,000 miles bluebook 12,885
1995 52in toro w/b belt drive and t-bar handles 13 hp kaw motor
2004 exmark lazer Z 27/60 with 600 hrs and bagger system
1995 ferris 36in w/b bought at yard sale for 150, we never used it
2005 billygoat 18 hp leafmulcher
2004 billygoat 10 hp w/b blower
2002 echo backpack blower 603
2005 echo backpack blower 750
2000 echo curved shaft trimmer-old
2000 echo curved shaft edger- better than trimmer
2004 echo srm210 trimmer
2005 echo edger
2004 echo hedge trimmers about 24"
trailor used-bought this season for 2000

Hope this is enough info, thanks!

Bill
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Old 10-03-2006, 06:30 AM
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Bill,

Hopefully we will get some of the other forum members to share their insight with us, can you give us a little insight as to what brought you to the decision of buying out your partner?

Did you have a good experience with a partner?

Would you suggest to others to get into a partnership?
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Old 10-03-2006, 09:23 PM
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Ok, you have to figure out the depection vaule of the equipment based usually on how it is expressed on your taxes. Most equipment decreases in value the following; 38% the first year, and then 25% each year there after of purchase. At least that it what my accountant told me.

The best person to answer everything is an accountant. When I went through trying to sell my business 4 years ago, my accountant helped me with a lot of stuff. But of course, I was going to make the transfer over to the new business and become a manager there.

When I went through with my buyout, in which I backed out of after 3 days, the new owner bought all of my equipment, and my customer list based on the customers that would stay ( I had to send out letters to customers asking them to make the switch with me over to the new company...about 95% of the customers went with me), and then was going to pay me a salary wage of approx $32,000 a year, based on only 20-30hrs of work a week, five days a week, holidays and weekends off.


BILLZ: How much you want for that Billy Goat blower???? I am looking for one

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Old 10-04-2006, 10:58 AM
Billz Billz is offline
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Well, I am going to need that blower still, sorry. It is great, and we do about $5000 in leaves each year, so that keeps the leaf piles moving! If I follow your philosophy then the equipment would be worth about $24,545...We owe 14,000 on the truck which means I would offer him $5000....that seems way too low. I think I will offer him 10,000 and see what he responds with.
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Old 10-04-2006, 12:22 PM
tiedeman
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I know, I thought that it seemed really low too when I talked with the accountant. I personally would suggest calling one up. They should be able to offer you free advice.
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