Replies

1. 
   mcf | May 12, 2006 10:17pm | #1

   I am guessing your business is a sole proprietorship, correct? What type of business assets do you hold?

    

   Unless you have assets(buildings, capital equipment, products, order backlog, etc.) there is no value other than you personally. If that is the case unless you are willing to sell yourself to the new owner there is no value in your business.

1. 
   MiKro | May 12, 2006 10:42pm | #2

   The Business, is an LLC, the assets consists of 1996 F350 Supercrew turbo diesel, 90k miles, miscellanous Scaffolding, ladders, compressors, nailguns, etc.  Current debt is less than 1k. Operating costs, (Vehicle and Liabilty Insurance excluded), approx $500.00 or less per month. This to include, Phone, DSL, Webhosting, advertisment, % of utilities as I currently office from my home.

   Thanks

   MK

   "The path we walk, is full of decisions. The direction we choose is the destiny of life." (mikro)

   Edited 5/12/2006 3:43 pm by MiKro

   Edited 5/12/2006 4:50 pm by MiKro

1. 
   FastEddie | May 13, 2006 01:08am | #3

   If you want to stay invoilved in the business, getting leads and estimating  & selling jobs, then you might have something that would interest a person who needs that sid eof the business, and who wants to stay on the "dirty" side.  But I can't imagine that there would be any value in trying to sell your history. 

   "When asked if you can do something, tell'em "Why certainly I can", then get busy and find a way to do it."  T. Roosevelt

2. 
   calvin | May 13, 2006 01:09am | #4

   Like already suggested, you can sell your equipment and if you were lucky enough, you could sell your good name.  Personally, at this time there's no way that's going to happen.  I remember that some day, that may be all you have. 

   We have businesses that only make money if we work. 

   I know a roofer that sold his business, his name attached.  He had many commercial accounts for both regular coatings and repairs.  His name in the phone book, current list of continuous clients, and all the equipment.  I am happy to say that the guy that bought it has done his best to continue in a good business.

   best of luck with your health.A great place for Information, Comraderie, and a sucker punch.

   Remodeling Contractor just outside the Glass City.

   Quittin' Time

    

2. 
   Gunner | May 13, 2006 01:59am | #5

     Your phone number could be worth a good chunk. If I was starting out and wanted to get my feet off the ground I would consider a phone that rings a god send. I'd pay for it. Could save years of bulding leads and a customer base.

   Edited to add: I'd make an arraingment where the buyer would start out working with you kind of as a gradual hand over. Keeps the customers from getting scared.

      I have a friend whose daughter has bought out three dance schools this way. The key to keeping all the students is to start as an instructor and build the students trust and confidence. Get to know them and understand each other.

     Never talk turning over ownership until the person is established and builds up customer faith, and trust. Then it's a painless transfer. And the customers loyal to you don't get jumpy. She usualy takes a year to work her way in with the students. It's rough on her running the other schools and taking on the role of instructor at another school. But it keeps the income flowing the same when the transistion finaly occurs. There's no big shock to deal with from either side.

     It also lets the buyer figure out a lot of stuff about your business and clientel before he gets thrown to the wolves.

    

    

    

    

    

   Wake me up before you go-go.

   
   

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   Edited 5/12/2006 7:12 pm ET by Gunner

3. 
   Kowboy | May 13, 2006 04:00am | #6

    I started a countertop business in Ohio in 1997 and sold it in 2001 for $60,000.00.

   Truck, tools, tablesaw... but the guy bought my customers. Smart move on his part. I did 300K a year and he probably does quadruple that now.

   Don't let anyone else but us know your reasons for selling. Act like you've got all the time in the world. There was a top shop for sale and we all knew the owner was dying of cancer. We all stood around like vultures waiting for him to die and his accounts come up for grabs. Hey, the lion dosen't apologize for eating a baby gazelle and neither do I. I don't make the rules, I just play by them.

   Bluff.

4. 
   CloudHidden | May 13, 2006 04:19am | #7

   Mostly you're trying to put a value on goodwill, which is hard to do. Or at least it's hard to persuade someone else of the worth you give it. Not that it can't be done. This article talks about intangible assets... http://www.entrepreneur.com/article/0,4621,299514,00.html

5. 
   fab4beck | May 13, 2006 08:10am | #8

   Sounds to me like you would like to stay in the business but I am like everyone else here I don't think your business alone has value. There may be a way for you to stay in the trade but not get on the dirty laborer side of the job.

   Question: Are you able to answer the phone and make calls?

   I haven't seen it for myself but I have read of someone doing this in an article in entrepnuer magazine. They started a service that provided customers a place to call for assistance in finding respectable contractors, What made me think of this was the fact you had already gave some of your work away by passing the contractors you had already done business with the jobs that had called you so why couldn't you start being a reference service so to speak and get a return from the profits of the referrals

   Scott

6. 
   MiKro | May 14, 2006 09:00am | #9

   Well,
   I want to thank all of you for your input. I still believe that there is a value to the Phone# and Name. I have had more than myself for the first few years answer and estimate as I did have partners for the first two. What that worth is I don't know. I would love to be able to just do the estimates and the paperwork and have someone else do the rest I would pay a premium for that and keep the business, as I love the reward of seeing things come together and a final satisfaction of a job well done. :) LOL!!

   I just hate turning down good free leads or giving them away. I have worked hard to make this work and Things just haven't been good for me health wise. So now I'm behind a desk getting fat:)))LOL!!

   I'll sit on this for awhile and rethink it. If someone in the DFW area would like to contact me about managing this please do as I am open to the idea.

   Thank you all again,
   sincerely, MIke K

   "The path we walk, is full of decisions. The direction we choose is the destiny of life." (mikro)