hypothetical question here

Noel

Noel

Location
Springfield, MO USA
Ok, say you bought out a small tree company 4 years ago for next to nothing. Say you had nice growth over the last few years. Now someone from out of state has a business broker call you to see if you want to sell your company. You let the business broker do an appraisal of your company for free, just to have a benchmark of what the numbers say your company is worth. That number is enough money to be make you completely debt free, and have a couple hundred thousand dollars sitting in the bank, even after taxes. If you sell, there will be a no compete, and you will have to move if you want to continue to do tree work. But you love where you live, and are close to all your family. Of course, there are all kinds of intricacies here about what could happen next, but in this basic scenario, how many of you would let the broker show your company to the buyer? If the buyer made an offer close to the appraised amount, how many of you would take it? If you took it, what would you do next? Just curious.

By the way, this is not really that hypothetical, and I said no. I'm not going anywhere for a while, unless the number went dramatically upward.
 
You have a crew that depends on you for care and leadership. Your company is more than you, it's all of you working together. You, in particular, have an amazing crew that you will not be likely able to recreate elsewhere. What's that worth?

Life's not all about money and comfort, in fact, it's mostly not about those things. Money is just money, after you have enough of it, it becomes a burden. Do you love your job, do you feel good at the end of a typical day? You can't put a price on that.

I'm not saying buy or sell, I'm saying look at the big picture. Are you happy? If you are, don't sell unless you're looking for another big challenge to test yourself on.
 
Noel I know you stated that you are not selling and that the number would have to be much bigger, but regardless of the number I dont think I could ever sell a company like you have. More than likely you can probably grow as large as you would like and make more each year than you did the one before. My main thing is that your crew is probably one of the best crews in the nation and like Blinky said you would likely not be able to recreate something as good as what you have. That would be my main reason for not selling is the crew itself. Besides that what are they gonna do if you sell and then move to Oklahoma, Arkansas, Texas or anywhere else for that matter? Just a few things to think about I guess, but really none of my business. Good luck.

D.W.H
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Steve Miller band says it well...

Ya betcha! I'd take the money and run. I'd find a new place to live and start something up all over again. We live in a beautiful country and there is beauty in every state.

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I say NO! This is making money more than fam, in my opnion. Happiness is priceless! Don't risk changing your life if your happy for uncertainties.
 
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Life's not all about money and comfort, in fact, it's mostly not about those things. Money is just money, after you have enough of it, it becomes a burden. Do you love your job, do you feel good at the end of a typical day? You can't put a price on that.

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Good principles to live by Chip.
 
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[ QUOTE ]
Steve Miller band says it well...

Ya betcha! I'd take the money and run. I'd find a new place to live and start something up all over again. We live in a beautiful country and there is beauty in every state.

[/ QUOTE ]

I say NO! This is making money more than fam, in my opnion. Happiness is priceless! Don't risk changing your life if your happy for uncertainties.

[/ QUOTE ]

Being free from debts is priceless too.
 
The no compete has to have a limit to it. Most common is 2 years. In that time you could do some studying to look at innovations to your work. A couple of hundred grand isn't much to retire on these days.

I'd be willing to look at an offer and see what the potential is for the future. Before flat out turning it down or accepting it.
 
Take the money and use it to start a new business. Sink that money into a coin operated car wash or a storage business. Basically something that doesn't require as many employees and that you could operate as you get older.
 
Thanks for the kind words. I was worried about losing my identity. I was worried about my employees. I was worried about not finding the next thing to be passionate about. I was worried that my customers wouldn't be taken care of properly anymore, and worried they wouldn't understand me leaving them. I am still young enough to handle this rat race, and obviously a couple hundred grand in the bank is not enough to retire on, even if you are debt free. The appeal of the sell-out was the chance to catch my breath, and get out from under the stress of it all. Since I said no, I have decided to make it a point to do more delegating, get some of the monkeys off my back, and to take a REAL week-long vacation with my family with no cell phone before the end of the year. It'll be no problem with the guys on my team, I just have a hard time letting go. Hope that guy is around in 10-15 years when I really am ready to sell.
 
When you are debt free,the amount of income required to sustain the same quality of life is greatly reduced...100-200grand invested (even conservatively) over 15-20 years can yield a retirement and college funds beyond most expectations. As a Family man, I would jump. As a stand up employer, I would have to make sure that the employees that helped build my business were LEGALLY taken care of. Moral issues really test us.
 
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hundred thousand dollars sitting in the bank

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With the extra cash you could move your family with you. Start your own barford pear topping compound, biuld a 20 foot wall so none could see you hacking away all day long.
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I've been gone for a while. I was thinking, "Man, I really miss Hollenreich picking on me." Thanks, Holly. I am currently pushing for a city ordinance that requires at least 1 bradford pear in every yard in the city. I'll be set for life!!!
 
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I've been gone for a while. I was thinking, "Man, I really miss Hollenreich picking on me." Thanks, Holly

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NP Noel I was thingking to myself also, man that Noel is a pretty srtaight up guy, caint wait to meet him in real life. It'll happen be it at the MD show or at the geezers if Scott will let me come. I plan to show up this year to see what kind of fun it is.
 
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I've been gone for a while. I was thinking, "Man, I really miss Hollenreich picking on me." Thanks, Holly

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NP Noel I was thingking to myself also, man that Noel is a pretty srtaight up guy, caint wait to meet him in real life. It'll happen be it at the MD show or at the geezers if Scott will let me come. I plan to show up this year to see what kind of fun it is.

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You can't come to Geezers... you'll hurt my feelings.
 
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