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What is the best way to sell my accounts?


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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Old 03-18-2008, 07:00 AM
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I wanted to ask some of you guys what is the best way to sell my accounts. I have only about 20 accounts left to get rid of and I also have some equipment left. I have 8 weekly accounts and 12 Biweekly accounts. These accounts produce about 20K per year. They are not on a yearly contract and I have had most for almost a year now. These also produced about 6K in extra business last year in pinestraw, mulch and landscaping projects. I have them posted on craigslist as of yesterday and already have 7 responses to these accounts already! I also have a 6X12 black ramp gate trailer with wood floors and no rust. Also my trailer has a detached 6 ft. open basket and lock. The mower is a Toro Proline 37 in floating deck with a 14 hp Kohler engine, attached is a new Jungle Jims Two wheel sulkey. I just have over 200 dollars worth of service done at my local shop. I want to sell all these accounts and equipment for 5500 dollars. I figured my mower and trailer are worth 2k and my accounts are worth 3500. I got those numbers based on the monthly income plus the extras that came in last year. What do you guys think? Any experience with this? What is the best method?

My next question is I have not spoken to my customers about this yet. It is a desicion I am reluctant to make. I got a job offer I cannot refused at a time where my wife is pregnant and we have some debt we need to pay. I want to meet with my customers and the LCO and establish a good parternship between the new operator and my customers. My customers all pay on time and have been dependable.

Thanks guys!
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Old 03-18-2008, 07:18 AM
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Hi Greenmind,

Why not post your ad here as well. Let others know the area you are in so if they are reading it, they can make you an offer as well.

I will also help you get the word out further.

I would suggest make a post in the equipment for sale area and post your ad there.

As far as the transfer, I would think you would need to introduce who ever purchases the accounts from you, to the customers and let them know this new company will take care of them.

What are some of your concerns with this?
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Old 03-18-2008, 08:48 AM
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Were are you from is the first step?
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Old 03-18-2008, 07:28 PM
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I bought out a total of 3 LC's when I had my first lawn business.

We agreed on the price, I paid the money, we wrote letters to the customers, took good care of them, and we never had a problem.

Thinking back I probably should have had a no compete with the former owner.

I wish you were in KS, I'd buy them all right now! GL
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Old 03-19-2008, 08:01 PM
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My main concern is my customers not knowing the new owner of the company, and being upset. Should I talk to them first or just send them a letter. I just want to do it professionally, that's all.
Do I need to personally introduce each customer to the new LCO?
Or is a letter enough. None of my customer have a contract so how does that effect the transfer process?

Thanks
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Old 03-19-2008, 11:42 PM
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What you do is up to you. I just told you I bought out 3 lawn companies, and all we did was send a letter to the customers, describing what happened(a new lawn company would be taking care of your yard)


If you want to meet each and everyone of them, then do it.
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Old 03-20-2008, 06:26 AM
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My main question for you is when you sent the letter, nobody called you and complained about switching service companies?
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Old 03-20-2008, 08:39 AM
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Mike,

When you were in this situation, did the customers have an annual lawn care contract or no? What percentage of them stayed on the rest of the year?

Also do you have any advice what you would include in such a letter? Or possible show us an example?
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Old 03-20-2008, 08:31 PM
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Quote:
Originally Posted by [b
Quote[/b] (Greenmind @ Mar. 20 2008,6:26)]My main question for you is when you sent the letter, nobody called you and complained about switching service companies?
No,

I didnt get any complaints most customers just want someone dependable, honest, and hard working.

Im curious how you are ariving at your "buyout" price?

Have you checked some of his accounts to make sure they are priced in accordance with what you would charge?

One of the lawn companies I bought out was considerably higher in pricing than mine, so I ended up raising all my original customers up to that standard.


Id sure get a no compete with him. I got very lucky never had one, never needed one, but its a good idea.

Just use some Due Dilligence and you should be fine, let me know how it goes
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Old 03-20-2008, 08:37 PM
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Quote:
Originally Posted by [b
Quote[/b] (Team Gopher @ Mar. 20 2008,8:39)]Mike,

When you were in this situation, did the customers have an annual lawn care contract or no? What percentage of them stayed on the rest of the year?

Also do you have any advice what you would include in such a letter? Or possible show us an example?
No, none of the customers were on contracts at that time residential contracts were not very common. Just makes you work a "little" harder with the new ones you bought. I did lose a few here and there, but I only paid 2.5 times the mowing price, and usually got at least 3 mows before they quit me.


That was over 10/15 years ago, I dont have any examples, but you youngsters have something I didnt. An internet FULL of info, I bet if you googled buyout or no compete forms, you could find one or two!

God bless the internet
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