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Author	Comments
scott wallace Posted: Aug 25, 2007 04:22 AM	BUYING AN ESTABLISHED BUSINESS On Monday I am talking with an owner with 29 years of experience who wants to retire and sell the business. He is asking $400K and claims to be making really good money (enough to easily justify the price). I think it is a one man operation. I would be keeping my day job and hire a person or two to run the business. I live out of town so I would help manage it by phone and computer. I know that is an issue but I have business experinece and the funds to finance it. Does the comments by the owner seem out of line? I don't see a lot of competition here and the store looks like no one would want to compete with it anyway. That could be a secret to sucess. I am open to any comments or suggestions. I know that I have not given all of the details to justify the price. I have not received them myself yet but the books will be audited before we close on the deal. I am learning about the industry. Thanks for the website it really helped. Scott
Scott Snyder Posted: Aug 26, 2007 01:14 PM	IMO I can't think of a harder way to insure quality and viability of the business than absentee ownership. It's very difficult to attract, train, keep experienced sprayers let alone SPF managers when you are managing them by phone or computer. SPF insulation is much more expensive upfront and customers expect superior value and performance from your work. Not saying it can't be done from a satellite office but you'll have some headaches for sure.
Posted: Aug 30, 2007 10:09 PM	where are you located? Damian dlardieri@SprayFoamMagazine.com 732-899-6500 www
scott wallace Posted: Aug 31, 2007 12:20 AM	Western US. I am vague because we have not signed a deal yet. I am now thinking that maybe I should have a partner who can help run the place.
Gerry Wagoner Posted: Sep 03, 2007 06:34 PM	Roofing? Forget it. Hiring people off the street and putting a spray gun in their hand on a roof is an inevitable disaster. Insulation? You might get by with it, but only if the spray mechanic is extemely skilled, reliable, and conscientous. All the best, olger

Author

Comments

scott wallace

Posted: Aug 25, 2007 04:22 AM

BUYING AN ESTABLISHED BUSINESS

On Monday I am talking with an owner with 29 years of experience who wants to retire and sell the business. He is asking $400K and claims to be making really good money (enough to easily justify the price). I think it is a one man operation.

I would be keeping my day job and hire a person or two to run the business. I live out of town so I would help manage it by phone and computer. I know that is an issue but I have business experinece and the funds to finance it.

Does the comments by the owner seem out of line? I don't see a lot of competition here and the store looks like no one would want to compete with it anyway. That could be a secret to sucess. I am open to any comments or suggestions.

I know that I have not given all of the details to justify the price. I have not received them myself yet but the books will be audited before we close on the deal.

I am learning about the industry. Thanks for the website it really helped.

Scott

Scott Snyder

Posted: Aug 26, 2007 01:14 PM

IMO I can't think of a harder way to insure quality and viability of the business than absentee ownership. It's very difficult to attract, train, keep experienced sprayers let alone SPF managers when you are managing them by phone or computer. SPF insulation is much more expensive upfront and customers expect superior value and performance from your work. Not saying it can't be done from a satellite office but you'll have some headaches for sure.

Posted: Aug 30, 2007 10:09 PM

where are you located?
Damian
dlardieri@SprayFoamMagazine.com
732-899-6500
www

scott wallace

Posted: Aug 31, 2007 12:20 AM

Western US. I am vague because we have not signed a deal yet. I am now thinking that maybe I should have a partner who can help run the place.

Gerry Wagoner

Posted: Sep 03, 2007 06:34 PM

Roofing? Forget it. Hiring people off the street and putting a spray gun in their hand on a roof is an inevitable disaster.

Insulation? You might get by with it, but only if the spray mechanic is extemely skilled, reliable, and conscientous.

All the best,

olger

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