Clean It Up
UK Floor Cleaning Forum => Carpet Cleaning Forum => Topic started by: Mike Halliday on January 21, 2014, 07:05:43 pm
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Just saw this on ebay,
http://www.ebay.co.uk/itm/Dry-extraction-Host-carpet-cleaning-business-for-sale-/301074023640?pt=LH_DefaultDomain_3&hash=item46196904d8
how do they get the £17k price?
Nothing against the host system or this company but it seam all they are selling is equipment.
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A one page website buried deep in Google and a lot of Twitter activity starting back in Nov 2013. They did say they had to change the name from Superdry though. Curious.
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Even more curious is that she says she is a marketing expert - so I am wondering why she couldn't get it to work for her? Must be a reason I guess.
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The person that created the listing states that they are a "marking expert", but there advert is total crap and that's being nice.
Just a block of text with no detail and a stock image. Talk about selling the sizzle... If they want £17K for it they'll have to try a lot harder.
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Snap Kev
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Hi, this is my first post, so I'm a newbie l would just like to advise the company for sale abovementioned has nothing to do with ZeroDrytime.
David, owner Zerodrytime.
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You could buy a Zerodrytime franchise with brand new equipment and support for less than that.
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Carpet Cleaning (£29) Plus Upholstery Clean (£34) with Turbodry Carpets (Up to 64% Off)
http://bit.ly/1cUygQv
Currently running a groupon aswell
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Don't know whether she has changed the description but it plainly says she is going through a divorce. She also has load of other stuff like a caravan for sale and says the same thing. Everyone puts a silly buy it now price doubt if she expects to get that.
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Just out of interest.
How would you value a carpet cleaning business anyway? has anyone ever sold one? I suppose you'd not be reading this is you have! ;D
I think you could get a good price if you have a good turnover/profit, are established the local area and are able to transfer the skills/running of the business over to the new owner 3 months free training for example.
Would be worth a lot more than just the value of the kit and van.
Helps if you had a contract or two in place.
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That was the idea of Maintence Contracts
Gave you regular Cash Flow
I think its easier to Sell an established Domestic Cleaners , or Window Cleaners than a Carpet Cleaners
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At the end of the day if your buying the business with all the contacts your only buying goodwill.
If they don't like you or are looking for a nice way to end the contract this is the time they will do it.
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Value of the Equipment and goodwill unless you have commercial maintenance contracts
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Just out of interest.
How would you value a carpet cleaning business anyway? has anyone ever sold one? I suppose you'd not be reading this is you have! ;D
I think you could get a good price if you have a good turnover/profit, are established the local area and are able to transfer the skills/running of the business over to the new owner 3 months free training for example.
Would be worth a lot more than just the value of the kit and van.
Helps if you had a contract or two in place.
I did!
....And I'm still reading this forum ;D
There are lots of ways of valuing a business. I sold mine as several times the annual turnover.
I sold it to my co-worker of 8 years standing, so he knew exactly what the business was capable of and had the advantage of perusing multiple years of Audited Accounts. He'd also contributed to a lot of the success of the business.
Now he is the "boss" and I am the co-worker. He picks me up in the morning, we clean during the day then he drops me off at night and goes home to do his admin. Oh, and he pays me a good wage as well. Not a bad life 8)
I'll do this for a maximum of 5 years (already completed 1) and then I shall definitely be out.
Rog
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Yes there have been several sales of established carpet cleaning companies. Martin Lightbown sold his last year and he's now sunning it in Portugal and Spain with his caravan.
The thing is you need to sell when the business when it is doing well and profitable. I see so many with really good businesses who just run them down as they near retirement and end up just selling their kit and a list of names.
There are always lots for sale some here as an example:
http://uk.businessesforsale.com/uk/Carpet-Cleaning-Business-In-Cardiff-For-Sale.aspx
http://uk.businessesforsale.com/uk/Relocatable-Carpet-Cleaning-Business-In-Essex-For-Sale.aspx
http://uk.businessesforsale.com/uk/Carpet-And-Upholstery-Cleaning-Specialist-In-Gloucestershire-For-Sale.aspx
http://www.businessclick.co.uk/search/carpet-cleaning-business-for-sale.html
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John
I was speaking to an employee of the people who bought a business down south it came with TM and van he said they got it at around 6 months profit
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Funny that John, when I posted that last night I found those exact links at businessesforsale.com.
Its like any other business really, if you market the sale right why cant you sell it for a decent wack. You worked your ass off building it up, making it a known "brand" in your local service area. It becomes an asset. It will take longer to sell obviously but worth it.
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There are some high asking prices there, interested to know if any of them actually sell for those prices, £59,000 turnover with £50,000 profit, yours for £55,000.
Give it another couple of years and I'll be putting mine up for sale.
Anyone interested in a multi functional cleaning/restoration business in the beautiful county of Northumberland ;)
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That Essex one has been up for sale a long long time.
I think the best way is the way 'The Technician Formerly Know As...'
has done it. Lots of advantages inc from the customers point of view, not much has changed and they already know the 'new' face.
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I sold a cd franchise for 60k -turnover 120k
Sold an independent for 50k- turnover 80k
Bought several phone numbers and websites over the years , always under about 5k , people will pay for a cash positive business fully organized with good vehicles and equipment , ongoing work and cash coming in regularly
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They all have lots of potential to expand, funny that.
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Every business has the potential to expand as in general business owners are lazy b's who don't push their businesses to their full potential.
Selling a business must be one of the hardest sales to make as the right person has to be there at the time and they don't grow on trees.
I think the best way is to do what Roger has done and sell it on to an employee. I have seen this happen many times especially when family members weren't interested in taking it on.
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Im just poking fun, it's like the machines for sale with a fault, its an easy fix, 5 min job max. ;D
But back to the businesses, several want 25k for a turnover of 30k with profit 20k. and a portable/van, Is that worth 25k? I think that's assets only.
Going by that logic though my business is worth more than I thought. Result. 8)
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When I bought my business 14 years ago I had always planned that when I got to 50 I would seriously start looking for a sale of the business, knowing that you will maximize the price when you don't need to sell/are not in any rush. I had various ideas as to where the buyer might come from and had throughout my time being the owner had cultivated all options and noted where a possible buyer may come from.
I thought it might take upto 5 years to find the right buyer and "reel them in" but in which case I would still be reaping the profits and then the sale price.
What I hadn't bargained on was the sale being completed 26 days after my 50th birthday! And for the full asking price!!
Rog
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It takes years to establish a business with a repeat turnover of 50k per annum.
Someone would pay decent money to buy a ready made business like that, especially if they can get there investment back in the first year.
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Craig you have to remember you will probably not be selling to a carpet cleaner. So Joe bloggs who has maybe been made redundant may be quite happy to buy a ready made business which is going to give him 20k (plus potential ;D).
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Like I said before it's only goodwill.
If the customers don't like you they won't use you.
If they have been looking for a way of nicely telling the seller that they don't want/need their services any longer but were too nice to cancel him/her, or have someone else in mind who is cheaper, then change of ownership is an ideal time to say bye bye.
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If you dont ask you wont get. You just have to find the right person who wants a turnkey business with more money than sense. The guy with the remote control filling bath on Dragons Den will get his million off some idiot.
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I was discussing this with a Fire Alarm engineer yesterday who has Fire Alarms under a yearly Contract Service with Care Homes etc.
A lot of care homes are being taken over by Big Companies and then the Contract is lost at end of year.
The Experience in The Industry is 50% of Contracts are lost at change of ownership , one exception may be if the business is bought by a staff member who knows a lot of The Care Home Managers himself and is liked.
Advertising in Daltons Weekly or Some other agency is all very well but somebody has to want to pay it.
Do we know what % are sold and what price acheived/
At least you can check House Sales
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I know of 2 sales recently. The one advertised in Hexham and Martins. Don't know if they achieved their asking price.