I just put mine up with an agent , they said its worth 2.5-3 years annual profits . You need to speak to a tax specialist if it is you mother ,as there will definately be ways to mitigate taxes should the worst happen and she passed on , all to do with the amount of years she survives , inheritance tax , capital gains tax etc .
Quote from: jasonl on January 09, 2015, 12:34:03 pmI just put mine up with an agent , they said its worth 2.5-3 years annual profits . You need to speak to a tax specialist if it is you mother ,as there will definately be ways to mitigate taxes should the worst happen and she passed on , all to do with the amount of years she survives , inheritance tax , capital gains tax etc . 3 years books? You're joking surely.
Simon sorry to hear about your mum thats terrible news,dmckellar - Window cleaning is contracted income /repeat work far more valuable then waiting for the phone to ring - as a general rule of thumb the majority of carpet cleaning business's are worth little more than equipment value.The worst valuers of a business are Accountants followed closely by business agents,3 x net as a general rule is a joke ! IT DEPENDS ON THE BUSINESS , MODEL AND WHETHER INCOME IS REPEAT/RESIDUAL.But sometimes 6 x net and above is a bargain!If you work cleaning carpets as a one man band and net £15,000 you dont have a business to sell its worth NEXT TO nothing! - your just self employed.If you sit on your arse or play golf and take 6 months holiday and earn 40k net with a domestic cleaning agency or property lettings agency for example then people will snatch your hand off to pay way more than 3 x the net for obvious reasons.If you make ONE MILLION NET PROFIT - and have a management team in place and repeat/residual income business then - its often worth more than 6 x the net.3 x net - nonsense for most small business's Carpet Cleaning more so than most other concerns.ACCOUNTANTS ARE THE MOST RIDICULOUS VALUERS OF A BUSINESS - THEY SHOULD BE TAKEN OUT AT DAWN AND SHOT IN THE STREET LIKE RATS.
We employs 130 people
Quote from: PoleKing on January 09, 2015, 09:31:37 pmQuote from: jasonl on January 09, 2015, 12:34:03 pmI just put mine up with an agent , they said its worth 2.5-3 years annual profits . You need to speak to a tax specialist if it is you mother ,as there will definately be ways to mitigate taxes should the worst happen and she passed on , all to do with the amount of years she survives , inheritance tax , capital gains tax etc . 3 years books? You're joking surely.thats not what he said is it? 3 years books and 3 years profit are 2 different entities altogether.it sounds about right to me. Look at other companies that sell for vast sums of money, even window cleaning rounds are 4x the price of the monthly clean