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Franchise Building, Entrepreneurs, Business Leaders, & Innovators Discussions Are you interested in starting your own lawn care franchise or are you interested in buying into one? Let's talk about different franchise opportunities and how to build your own franchise. Also we discuss different entrepreneurs who inspire us!

Potential to buy accounts and equipment


Franchise Building, Entrepreneurs, Business Leaders, & Innovators Discussions

Are you interested in starting your own lawn care franchise or are you interested in buying into one? Let's talk about different franchise opportunities and how to build your own franchise. Also we discuss different entrepreneurs who inspire us!
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  #11  
Old 07-21-2012, 07:58 PM
Rodriguez11 Rodriguez11 is offline
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Well I don't know that he would sell me the equipment and give me the list of his clients. That's why he wanted me to sign a confidentiality clause so that I cant just solicit all his customers.
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  #12  
Old 07-21-2012, 08:03 PM
wat5150 wat5150 is offline
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I dont know man. What if you "buy" a client and they refuse and go with someone else? There is nothing that guarantees they will go with you. I mean they probably would, I just dont like the idea personally.
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Old 07-21-2012, 08:12 PM
Rodriguez11 Rodriguez11 is offline
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Well my thoughts in that was I was going to figure in that some will just not be happy with the works so I figured 5-6 of the customers leaving. That is a big worry that maybe they don't want my service but I would not pay the $35k and that's why I liked the fact that he was okay with monthly payments. And if he got a list to me of the customers we could let them know what's going on and see if they plan to stick around for another season. If not maybe I can negotiate into the final price some kind of deduction for each customer that is not a return for next season. I think there is great opportunity in this since he has established routes and been cutting majority of the yards for 5 years now. But it is a big risk to take at the same time. If he grosses what he is saying the work can easily pay the investment back quickly
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Old 07-21-2012, 08:26 PM
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The gross sounds good. I mean if you think you can hang on to most of the clients go for it. That would be some good growth. I would negotiate the price though. You will have to hire on a few people but thats part of growth. If you think you can get even $75k it would be good. Just negotiate the price. I still dont like the buying clients idea but this sounds like good growth potential and potential for making some $.
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Old 07-21-2012, 08:32 PM
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Just thinking out load but what if
he keeps the business "open" and you subcontract all the work, 50% of billed you are paid the other 50% pays off the loan balance. this way if you lose a customer you can still make payment.
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Old 07-21-2012, 08:34 PM
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That's what I was thinking. I always lose at least a few customers each season which are usually the ones that only call every so often instead of getting on schedule. But I figure there is great potential for profit even losing some customers and still gives me an opportunity to market myself in all the new areas I will be in for potentially growing more! I am trying not to let the big numbers cloud my thinking because I would still want to provide quality service to all the new customers. I am going to negotiate that price for sure because I am interested to know where he came up with that number and how he actually values everything. He did say another company was meeting him on Wednesday to look thru all his paperwork and make an offer so I told him I wanted to meet on Monday or Tuesday!
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Old 07-21-2012, 08:37 PM
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hmm that's good thinking out loud. That would definitely give me the opportunity to do the work pay the loan and not have total obligation if it did not work out like planned. I am going to talk to him about many options and that is one I will definitely suggest. I thought about maybe a "down payment" on the business because I know he is moving but said he can't move until he gets money from the business. So I somewhat feel I have some control over the sale except that there is another company looking into the sell too
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Old 07-22-2012, 07:46 AM
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Buying a customer can be a big risk, He could help that alot by talking to his customers and letting them know he is turning over his business to someone else and assure them that they will be taken good care of...That way you could get thier reaction upfront...
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Old 07-23-2012, 07:40 PM
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He did say he would let customers know there would be a change in ownership which I was considering keeping the company name since they are pretty established and said all there customers were from word of mouth. My business is mainly on the commercial side and that is where I focus most of my attention right now. So I was thinking just keep that one side as a residential company. I dont know may help on taxes too
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Old 07-26-2012, 03:46 PM
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Well, paper work is now being done to transfer ownership to me! I will be making payments over the next 6 months to ensure that customers are not just going to all leave with me out all that money. Made an offer for down payment and the other company backed down! I should start on the 58 new accounts at the beginning of August
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