Buying and selling accounts
- Thread starter SoCalB6
- Start date
WAS
Driven
I don't understand the question.... you want to sell a contract you have with an individul or company ? Do you have a signed agreement in place ? Is there a term-length contract to it ?
David Fermani
Forza Auto Salon
Way too many variables left out to help on this one. What gives you entitlement to these accounts? A contract hopefully? If not, is there anything preventing a competitor from stealing these accounts? You need to explain more.
Envious Eric
New member
you dont really need to KNOW the specifics, just ASSUME they are his and only his for the sake of the question
How do you buy/sell private accounts in the detailing world? Besides the contact list with all important contact info, what else?
After you either buy or sell, I would send out a mailer/email letting the old or new clients know of the change.
How do you buy/sell private accounts in the detailing world? Besides the contact list with all important contact info, what else?
After you either buy or sell, I would send out a mailer/email letting the old or new clients know of the change.
David Fermani
Forza Auto Salon
toyotaguy said:
So based on the info the OP gave, what's you're opinion on how he would buy/sell the business? How would you put a value on that business based on the info given?
As far as the etiquette used after the sale, I think sending out a mailer letting your clients know of the change is very impersonal. Clients are a valuable resource for any business, but one like detailing I feel needs a personal touch for to concrete the transition. When I sold my business, I stayed on full time for 90 days. We (the new owner & I) worked together and made personal appointments with every single major client to introduce him and explain the aspects of the transition that would affect them.
WAS
Driven
toyotaguy said:
Yeah but the OP is asking what the standard deal is (as he mentions by saying "in the pool business accounts, or routes, are usually sold for 8-12 months of income"). Without knowing specifics, we can't say that giving away 6 months of income from this new "account" would be worth it or not. It all depends.
imported_Jakerooni
New member
But what's standard then? I don't know of any detailer out there that regularly buys or sells contracts. I don't think there's any realistic way to answer this question other than in this feild there really is no standard of doing that.
I think Dave hit it on the head though. Just dumping your clients like that off to the "new owner" is rude and a quick way to have the new owner loose a lot of clientel. The transition period I think is a must if your going to be doing something like that. It gives the client time to adjust and create trust with the new owner (or realize there isn't going to be any whichever may be the case)
I think Dave hit it on the head though. Just dumping your clients like that off to the "new owner" is rude and a quick way to have the new owner loose a lot of clientel. The transition period I think is a must if your going to be doing something like that. It gives the client time to adjust and create trust with the new owner (or realize there isn't going to be any whichever may be the case)
WAS
Driven
Jakerooni said:
My point exactly.... we can't give any type of advice or comment until we know what exactly is going on. This would be in response to toyotaguy saying we don't really NEED to know the specifics....
Agreed on the transitional period.
I think Envious has a point and so do the rest of you all. I was just wondering if there has been anything like this done before. Apparently not so much, eh? I was I had no idea, just like majority here, if there is even such a thing in the detailing world. I only have experience in the pool business.
Out here in Cali, the "standard" selling price for a pool route is 8-12mo. of income. Sometimes the new owner gets a ~3 month "buffer" in case the clients go elsewhere, meaning you deduct the accounts from the total price of the sale. Of course that is dependent on why the customers left.
David Fermani brought up some good points about the transitional period thing. I would do the same. How much would you sell it for (no supplies, just the route)? Would you compensate the new owner if the customers jumped ship within a certain time period?
So let's set this up like this... You are a mobile detailer that has a "route" that you hit Mondays going from business complex to business complex. The average monthly income is $2k. Now, lets say you decide to sell your route for $xk (x mo. income). There are no contracts or anything signed, or anything of that nature. How or what terms/stipulations would there be?
Out here in Cali, the "standard" selling price for a pool route is 8-12mo. of income. Sometimes the new owner gets a ~3 month "buffer" in case the clients go elsewhere, meaning you deduct the accounts from the total price of the sale. Of course that is dependent on why the customers left.
David Fermani brought up some good points about the transitional period thing. I would do the same. How much would you sell it for (no supplies, just the route)? Would you compensate the new owner if the customers jumped ship within a certain time period?
So let's set this up like this... You are a mobile detailer that has a "route" that you hit Mondays going from business complex to business complex. The average monthly income is $2k. Now, lets say you decide to sell your route for $xk (x mo. income). There are no contracts or anything signed, or anything of that nature. How or what terms/stipulations would there be?
Well the most common place I see this is with bread routes. However unlike the bread delivery guy, you own the "bakery". I think what you would want to do is sell the business not the route. If you do it that way you could sell your skill and experience as training and get much more value.