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easy clean

  • Posts: 570
whats it worth?
« on: August 26, 2011, 05:33:29 pm »
What would you pay for a wfp domestic cleaning business with 2 employees turning over £118,000 with a nett profit of £47,000. With the benefit of one employee managing the round so much so that all you need to do is bank cheques everyday that you receive in the post and buy the odd piece of equipment now and then and the occasional resin change as and when!

What is that worth?
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wpclean

Re: whats it worth?
« Reply #1 on: August 26, 2011, 05:45:01 pm »
30k
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Steve CM

Re: whats it worth?
« Reply #2 on: August 26, 2011, 05:46:43 pm »
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Helen

Re: whats it worth?
« Reply #3 on: August 26, 2011, 05:50:35 pm »
I would want a higher return on profit than 40%. :)
 
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Simon Spencer

Re: whats it worth?
« Reply #4 on: August 26, 2011, 06:33:28 pm »
Alright easy clean,

The work alone could sell for about 60k.

What about vehicles, fuel etc? who pays for that?

Simon
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Darranvps

Re: whats it worth?
« Reply #5 on: August 26, 2011, 09:13:53 pm »
What is the location
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easy clean

  • Posts: 570
Re: whats it worth?
« Reply #6 on: August 26, 2011, 11:43:25 pm »
Dartford, south east England
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mikecam

Re: whats it worth?
« Reply #7 on: August 26, 2011, 11:57:26 pm »
Quote from: easy clean on August 26, 2011, 05:33:29 pm
What would you pay for a wfp domestic cleaning business with 2 employees turning over £118,000 with a nett profit of £47,000. With the benefit of one employee managing the round so much so that all you need to do is bank cheques everyday that you receive in the post and buy the odd piece of equipment now and then and the occasional resin change as and when!

What is that worth?

That seems an excessive nett profit for such a turnover. In order to give an accurate valuation i think we'd need to see the latest VAT returns and PAYE info ?
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paulm

  • Posts: 24
Re: whats it worth?
« Reply #8 on: August 28, 2011, 07:43:24 am »
what on earth are they spending £53 grand a yr on? if turning over £118k annual i would expect to sell for £80k. Any other business thats been built up over time with hard graft,blood sweat & tears wouldn't let an annual t/o go any cheaper.
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easy clean

  • Posts: 570
Re: whats it worth?
« Reply #9 on: August 28, 2011, 09:38:25 am »
£71k! And its made up off wages, fuel rent, equipment insurances, ni, fees, the list goes on!
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Helen

Re: whats it worth?
« Reply #10 on: August 28, 2011, 10:26:05 pm »
Quote from: easy clean on August 28, 2011, 09:38:25 am
£71k! And its made up off wages, fuel rent, equipment insurances, ni, fees, the list goes on!

Does the figure include just the 2 guys wages and employers NI or does it include a wage for you aswell?
Rent - what on -  a unit?
Are you fully vat registered or flat rate
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Moderator David@stives

  • Posts: 8829
Re: whats it worth?
« Reply #11 on: August 28, 2011, 10:52:21 pm »
If £47k is the true net profit, with little involvement from you then, i would say £40k but then finding a buyer ?

i base that figure on 10 months net profit

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Darranvps

Re: whats it worth?
« Reply #12 on: August 29, 2011, 06:01:33 pm »
It's worth what somebody would pay and not a penny more!
Good luck in selling it - there will be somebody out there who will buy.
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Frankybadboy

  • Posts: 9026
Re: whats it worth?
« Reply #13 on: August 29, 2011, 06:16:33 pm »
and if you cant sell it as one business then think about selling of in parts,you probaly get more that way. ;)
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