I like B-C'S idea. take it from me if you buy have him sign a non compete agreement,you got his customers not him, you do the bossing your the owner not him. I made the biggest mistake in my life when I sold out. Have plans in the works to own again. SOON!!!!!!! As they say buyer beware, and as you stated he just wants to slow down but how does he slow down when he sold to you? Will you let him pick and choose the customers ?/ He will keep the ones he been nickle and dimin all these years. Look into it further,look at his books, look at his stock,look at what he bought over the last 5 years etc etc etc. Good Luck
Originally posted by benncool
Okay this guy still has some juice left. He said he just wanted to slow down he didn't want to die.
I would suggest a merger. Unfortunately this guy didn't charge enough all these years. Between the 2 of you, you can makes some pretty good bucks. Buy him out with the profits.
First thing you do is get your hourly rate into the $60's pre hour. Let the old guy work the jobs he wants to and pay him 35 bucks a hour for the jobs he does. You do the billing and bill him out for the above mentioned figure. He can just explain to his old customers that his company in sold out and under new management. You can be the pric_.
DO NOT worry about losing customers. Where are they going to go ? They may call you a son of a beech for raising your price but ---sticks and stones!!!! The few you do lose you can afford to lose. What his little operation needs is new blood. Your it.
[Edited by benncool on 06-07-2004 at 03:57 PM]