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how Much is an Existing Business Worth?

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buzzybee View Drop Down
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    Posted: 19/May/2011 at 1:49pm
I'm a newbie to carpet cleaning and am in negotiation to purchase a 13 yr old locally owned and operated truckmount business.  Current owner has no written contracts, but lots of loyal repeat customers and a good reputation.  He has priced his business for resale at 1 year's gross revenue (about $150k).  I'm not sure if it's worth it with real contracted revenue stream.  The other option is to start at ground zero and go it on my own.  Pretty intimidating.  Any advice you pros have is greatly appreciated as I'm smart enough to know that I need help.
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Carpetologist View Drop Down
The Great Hardini
The Great Hardini

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Carpetologist Quote  Post ReplyReply Direct Link To This Post Posted: 19/May/2011 at 7:20pm
Unfortunately a one man carpet cleaning business is worth next to nothing. As the customers only know the owner and feel comfortable with him. Unless you pay him over time and he stays with you to introduce you to customers so they can feel comfortable with you and you with them.

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doug View Drop Down
King of the One Liners
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Post Options Post Options   Thanks (0) Thanks(0)   Quote doug Quote  Post ReplyReply Direct Link To This Post Posted: 23/May/2011 at 12:34pm
I sold my biz a couple of years ago. What equipment are you getting, how old is it, are you getting the name, phone# etc. You need to see his last fews years gross revenue and you need a lawyer andan accountant. Mine was different I am a numbered co. i only sold athe assest  so there is a big difference when it comes to determiing what 13 year old junk is worth?Guitar
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CDRX View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote CDRX Quote  Post ReplyReply Direct Link To This Post Posted: 07/October/2011 at 8:24pm
Last time I looked on Biz Buy Sell the asking prices for one man carpet cleaning businesses were around 2-2.5x net income.
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