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Ashley Davies

  • Posts: 10
Buying a cleaning business
« on: September 04, 2012, 08:54:06 am »
Hi,

I have been approached to purchase a cleaning business. it comes with around 5 clients with a turnover of £56k and prrofits of £20k, they are asking £15k for the contracts. the only problem none of the contracts they have are fixed in but have been clients of theirs for 5 years. What should I do?
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Simon Blades

  • Posts: 30
Re: Buying a cleaning business
« Reply #1 on: September 04, 2012, 10:27:27 am »
Find out who the clients are and take the work. Don't pay 15k for unsecured work.

ps. I'll only charge you 10k for this advice.  ;D
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Jane Burrows

  • Posts: 4
Re: Buying a cleaning business
« Reply #2 on: September 11, 2012, 03:40:05 pm »
Why not offer to buy on a deferred and conditional basis. i.e you pay the vendor when you've retained the clients for a pre-agreed period of time and earned the money from them.
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Mike_Boxall

  • Posts: 1394
Re: Buying a cleaning business
« Reply #3 on: September 11, 2012, 05:51:29 pm »
Hi

Jane's right, it's best to try and negotiate some kind of longer term payment plan. You also need to double check the figures as £20k 'profit' is almost definitely gross profit (ie before you've taken other non-direct costs into account)

Regards

Mike
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