there is a reason why banks wont provide funding....
Bank manager: so what would you like the £30k business loan for Mr xxxx
Mr xxxx: er... a window cleaning round mate
Bank manager: what exactly will you be 'buying' for the £30k
Mr xxxx: er..... he might throw in some ladders, but he said everyone will
go onto wfp
Bank manager: so essentially you will be puschasing £30k of 'good will' from
the existing customer base.... no equipment, no van,
no business premises? and from my experience Mr xxxx as a customer of a window cleaner, i didn't like this wfp method of cleaning windows, it left all the windows wet, and spotty so we sacked our regular reliable fully insured, window cleaner and got someone else... good day to you sir!
oh by the way Fish&Chip shops aren't businesses... they are Gold Mines
Sure using this approach you will be lucky to get the time of day let alone any funding, however buying an established business is a different matter.
After Due diligence has been completed and reported on and with a business plan completed plus the legal side put in order by a lawyer, then, presenting for funding to a bank is a completely different prospect.
I'm surprised that many Window Cleaners on here don't realise that their business is also a gold mine. Sadly some would talk to their bank manager like the chump above, probably walking in wearing jeans and a T-shirt and wonder why they are not taken seriously.
A business that turns £30k that could be serviced by 1 staff member should return a profit of at least 25% per year. A business owner then can expand while the actual work is completed by others.
I understand that for most window cleaning is a "means to an end" but it also has high ROI which when tapped into can result in a great income.
And the going rate is??
" because the quality is PROBABLY much higher "
But who knows until you've bought it.
John
What sort of fool would buy anything blind, of course you would go through the accounts with a fine tooth comb, you would check out everything before you spend, plus you would have some legal documents drawn up.
This is not 2 guys down the pub trying to offload half a dozen customers he doesn't want.
If this was my sale I would sell it as a full business package. Work, Vehicles, equipment, company name, everything, the whole 9 yards. Even if it meant getting fresh signage.
