Is This My Chance to Own a Business?
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- Опубліковано 16 кві 2024
- Is This My Chance to Own a Business?
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I'm glad he is driven to work and keep the business growing.
I'm no mathmagician but this sounds like stepping over a penny to pickup another penny
HOPEFULLY he’s buying it now before it has a chance to grow, so he’ll be making a good chunk on the buy and then be getting an income producing asset. It depends on his work ethic.
Wouldn’t a deal of repayment over 4 years be considered debt to a family member?
Was thinking the same, and Dave is against debt
It's different in continuing a family business he has been consistent about that
Amazing video thanks for the information
I don’t got how this generational transfer isn’t taking on substantial debt? If the business folds after 1 season for whatever reason, kid owes his dad $110K ($150-40) and no business to fund it.
👏🏽👏🏽👏🏽
Man. Intermixing money and buisness with family can be dicey. Especially when your pops worked and built the buisness with you.
Better to buy it now and have an agreement with the owner than wait and have an argument later when other family members want “their” share.
7 employees and only $600k in revenue? Five years ago $100k per employee was good. Now it should be $150-$200k. Also landscaping doesn’t bring 4-5x EBITA. It would be more like 2.5-3x multiplier. Plus I doubt the snow removal business is a business. Does it have contracts for next season? What prevents clients from leaving? Also, there is no guarantee on snow fall. Unfortunately like make landscaping businesses it is worth what the assets are worth at wholesale; 70-80% retail.
I think he should by the whole business from his father. Not just a section of the business.