Selling your business
#5992387
09/06/17 01:31 PM
09/06/17 01:31 PM
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Joined: Nov 2007
Posts: 164 northern Calif.
Probtrapper
OP
trapper
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OP
trapper
Joined: Nov 2007
Posts: 164
northern Calif.
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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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Re: Selling your business
[Re: Probtrapper]
#5992496
09/06/17 04:32 PM
09/06/17 04:32 PM
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Joined: Dec 2006
Posts: 22,684 St. Louis Co, Mo
BigBob
trapper
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trapper
Joined: Dec 2006
Posts: 22,684
St. Louis Co, Mo
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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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Re: Selling your business
[Re: Probtrapper]
#5992559
09/06/17 05:55 PM
09/06/17 05:55 PM
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Joined: Sep 2010
Posts: 6,996 NC, Person Co.
QuietButDeadly
trapper
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trapper
Joined: Sep 2010
Posts: 6,996
NC, Person Co.
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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.
Last edited by QuietButDeadly; 09/06/17 05:56 PM.
Life Member: NCTA, VTA, NTA, TTFHA, MFTI Member: FTA
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Re: Selling your business
[Re: Probtrapper]
#5993400
09/07/17 07:20 PM
09/07/17 07:20 PM
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Joined: Nov 2007
Posts: 164 northern Calif.
Probtrapper
OP
trapper
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OP
trapper
Joined: Nov 2007
Posts: 164
northern Calif.
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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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Re: Selling your business
[Re: DaveK]
#5993807
09/08/17 08:29 AM
09/08/17 08:29 AM
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Joined: Feb 2013
Posts: 1,706 Ohio
Ronaround
trapper
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trapper
Joined: Feb 2013
Posts: 1,706
Ohio
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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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Re: Selling your business
[Re: Probtrapper]
#5994127
09/08/17 04:41 PM
09/08/17 04:41 PM
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Joined: Aug 2017
Posts: 66 NW, WY
WyomingWoodsman
trapper
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trapper
Joined: Aug 2017
Posts: 66
NW, WY
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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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Re: Selling your business
[Re: Kurt in Va]
#5995077
09/10/17 12:06 AM
09/10/17 12:06 AM
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Joined: Jul 2012
Posts: 188 California
Throw Back
trapper
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trapper
Joined: Jul 2012
Posts: 188
California
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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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