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#5992387 - 09/06/17 12:31 PM Selling your business
Probtrapper Offline
trapper

Registered: 11/16/07
Posts: 162
Loc: northern Calif.
After twenty five years of running our wildlife control business at my age (72) I feel it's time to retire and start taking time to do some things with my family while I still can. The only thing is we, my wife (the REAL boss) and I,have no idea on how to go about selling it. If any of you folks have any suggestions we would surly appreciate some advice.
_________________________
Bob Hassel
Animal Nuisance Control

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#5992459 - 09/06/17 02:26 PM Re: Selling your business [Re: Probtrapper]
Ronaround Offline
trapper

Registered: 02/04/13
Posts: 1028
Loc: N.E.Ohio
you could advertise it on craigslist, or other Social media locations. The thing is to have a number in mind and dont go much below it. A positive cash flow and customer lists with current customers is always a big plus. (show them value and a working base.)
Inventory your traps and equipment and value them before you attempt to sell. Estimate a value to replace if bought new and what your willing to add as value to your sale. Does a website go with it? if so more value.
Also,screen your buyers well before you let them in your business info and accounts.
best of luck in your retirement

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#5992496 - 09/06/17 03:32 PM Re: Selling your business [Re: Probtrapper]
BigBob Offline
trapper

Registered: 12/23/06
Posts: 13460
Loc: St. Louis Co, Mo
Not to be a downer, but, problem I see is you ARE the biz! A truck load of gear and maybe the truck, is about all there is, right? The "Books" and a client list as noted will help. Might consider getting advice from a realtor that specializes in selling Business'.
Howzabout taking on an "Apprentice" with the understanding that they will take over some day.
_________________________
Every kid needs a Dog and a Curmudgeon.

Remember Bowe Bergdahl, the traitor.

Beware! Jill Pudlewski, Ron Oates and Keven Begesse are liars and thiefs!

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#5992559 - 09/06/17 04:55 PM Re: Selling your business [Re: Probtrapper]
QuietButDeadly Offline
trapper

Registered: 09/27/10
Posts: 1473
Loc: NC, Orange Co.
The tangible property, traps and equipment, are easy to value. The intangibles, often referred to as Goodwill, is the hard part where an individual such as yourself is the face of the business and it is more difficult to value. Your reputation with your customers is a known. The buyers reputation is not known to your customers and they may or may not accept and use the new person as they have used you in the past.

Taking on an apprentice or partner for some period of time could help bridge the Goodwill factor and make the business more stable and therefore more valuable to your buyer. Make no doubt about it, Goodwill is a big factor in the value of a business.


Edited by QuietButDeadly (09/06/17 04:56 PM)
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#5992648 - 09/06/17 06:37 PM Re: Selling your business [Re: Probtrapper]
Kurt in Va Offline
trapper

Registered: 09/29/09
Posts: 41
Loc: Virginia
Where in N CA are you, I know of a young man who has a business in N CA that I could contact.

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#5993123 - 09/07/17 11:48 AM Re: Selling your business [Re: Probtrapper]
DaveK Offline
trapper

Registered: 01/29/14
Posts: 16
Loc: Michigan
Don't let these guys get you down. They are selling these businesses like hot cakes. You are just on the wrong board....
_________________________
CWCP
Propestmen
Michigan Critter Catchers

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#5993306 - 09/07/17 04:07 PM Re: Selling your business [Re: Probtrapper]
080808 Offline
trapper

Registered: 12/28/15
Posts: 517
Loc: NNY
Once you get near a deal consider tax consequences. Nice to have a lot up front but maybe not so nice in regard to state and federal taxes. Consult with a good accountant.

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#5993400 - 09/07/17 06:20 PM Re: Selling your business [Re: Probtrapper]
Probtrapper Offline
trapper

Registered: 11/16/07
Posts: 162
Loc: northern Calif.
Thanks you guys for your input. I think that me being the face of this business has merit. It very well be one of the few pitfalls of being in business for so long. But I still have a business to sell so we will continue to research our possibilities and hopefully make the right choices.

DaveK- What board should I be on?

Kurt in Va- We are located in the Redding area of northern Ca.
_________________________
Bob Hassel
Animal Nuisance Control

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#5993737 - 09/08/17 05:20 AM Re: Selling your business [Re: Probtrapper]
Kurt in Va Offline
trapper

Registered: 09/29/09
Posts: 41
Loc: Virginia
PM sent about board

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#5993807 - 09/08/17 07:29 AM Re: Selling your business [Re: DaveK]
Ronaround Offline
trapper

Registered: 02/04/13
Posts: 1028
Loc: N.E.Ohio
Originally Posted By: DaveK
Don't let these guys get you down. They are selling these businesses like hot cakes. You are just on the wrong board....


DaveK, I dont believe I said anything to bring him down!Your point?

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#5994013 - 09/08/17 01:17 PM Re: Selling your business [Re: Probtrapper]
DaveK Offline
trapper

Registered: 01/29/14
Posts: 16
Loc: Michigan
My point was that those that don't think their business is worth something other than the traps is ridiculous. Here is one selling for $2.2 million. $800K in free cashflow...heck...its worth it too!

https://www.bizbuysell.com/Business-Oppo...1E5TXclM2QlM2Q=


Edited by DaveK (09/08/17 01:17 PM)

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#5994127 - 09/08/17 03:41 PM Re: Selling your business [Re: Probtrapper]
WyomingWoodsman Offline
trapper

Registered: 08/20/17
Posts: 66
Loc: NW, WY
banks generally lend to buy a business at 4 to 5 times the NET income, plus real property. that means things. traps, buildings trucks etc. so if you make $100,000 a year net income for the business you could get a buyer at 500k, plus the real property.
we sold a nuisance business before adc was a word to a neighboring states pest control they wanted to expand into our state and this gave them a good foothold, I stayed on for a few jobs and then handed it off, I think I went bck on 2 jobs they were struggling on , nd that was that.
we keep good books and was easy to show our income and growth, they were established in pest (rodents insects etc) and it was a good easy fast sale.
good book keeping has made every one of our business sales go smoothly.

goodluck and I hope you get a fsat sale.

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#5995077 - 09/09/17 11:06 PM Re: Selling your business [Re: Kurt in Va]
Throw Back Offline
trapper

Registered: 07/19/12
Posts: 178
Loc: California
Originally Posted By: Kurt in Va
Where in N CA are you, I know of a young man who has a business in N CA that I could contact.


Thanks Kurt. ProbTrapper I sent you a PM

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#5995091 - 09/09/17 11:39 PM Re: Selling your business [Re: Throw Back]
Probtrapper Offline
trapper

Registered: 11/16/07
Posts: 162
Loc: northern Calif.
Throw Back, sorry I never got your pm!
_________________________
Bob Hassel
Animal Nuisance Control

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#5995097 - 09/09/17 11:48 PM Re: Selling your business [Re: Probtrapper]
Throw Back Offline
trapper

Registered: 07/19/12
Posts: 178
Loc: California
Tried again

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