Start every worthwhile endeavor with an end result in mind. That’s a valuable maxim in the business world. Was it top of mind when you first dove into the landscape industry? Likely not. Who’s thinking about an exit strategy in the heady days of starting and growing a small business?
You got into the business because you wanted to work outdoors, be your own boss and have the freedom to determine your own destiny. You were convinced that if you worked hard enough and long enough that your landscape business would financially reward your efforts.
Even so, after years – maybe decades – that you’ve dealt with the issues and frustrations inherent to running a company that depends on your hourly employees to maintain and install landscapes, you’ve begun to think about the next chapter of your life. Perhaps you’ve even considered selling your company so you can spend more time with your family, travel, do more volunteer work or pursue a new business opportunity. Or perhaps you’re just curious what your business is worth should somebody approach you with an offer.
Regardless of whether you’re developing an exit strategy for a sale in the near future or for 10 or 15 years down the road, you should become familiar with the new “Sell Your Business” program being offered by U.S. Lawns.
Recently, Turf spoke with Brandon Moxam, vice president of U.S. Lawns, to share details of this new program and what it can mean for you as a landscape company owner.
TURF: Mr. Moxam, can you briefly describe the “Sell Your Business” program?
Moxam: We’ve built a program set up through a third-party broker network that allows us to provide a free valuation of a landscape business so the owner knows exactly what it’s worth. From there, if the owner is interested, they can list that business with the broker and go ahead and pursue the process of getting it sold.
Tell us more about the broker network U.S. Lawns is using.
The broker network we’re partnering with is very familiar with the landscape industry and what landscape businesses are selling for right now. They know what kinds of multiples to apply toward determining a real market value for a landscape company. The broker will review things like the company’s financials and its track record over the last couple of years. Most of this can be done over the telephone or via email.
What if the valuation that an owner receives is well below what they thought it was worth?
Upon receiving the valuation, if the owner learns that it isn’t worth what they expected, that’s pretty discouraging. After all, they’ve put an awful lot of blood, sweat and tears into their business. If that’s the case and they’re still interested in selling their business at a better price sometime in the future, what we’re recommending – and this would be based upon the broker’s recommendation as well – is that the owner convert their business to a U.S. Lawns franchise and we will build a timeline to get the business listed. We will work with them to increase the valuation of the business and open up a pool of buyers that might be interested in buying it.
What else would incentivize an owner to look into the “Sell Your Business” program?
We are willing to defer the principle payment of our franchise fee for two years. We will also help them implement U.S. Lawns systems, strategies and tactics to grow their business and increase its valuation. As they implement our proven systems, tools and infrastructure into their business and they realize growth and in turn increase their gross revenue, boost net profit and free up time for themselves, they may choose not to sell their company – at least not in the foreseeable future.
How does an owner learn more about this program, determine if it’s a fit for them and how to qualify?
The program is up and running and available today. You can contact Justin Reviczky, director of operational support, at the U.S. Lawns home office in Orlando, Florida. Justin will share a short qualifying call with you prior to putting you in contact with our broker partner. He can be reached at 407-246-1630 or firstname.lastname@example.org.
Visit the U.S. Lawns booth at the indoor exhibit area at the 2017 GIE+EXPO Oct. 18-20, in Louisville, Kentucky, where you can learn more about U.S. Lawns and the “Sell Your Business” program.
This content is sponsored by U.S. Lawns. Sponsored content is authorized by the client and does not necessarily reflect the views of the Turf and LawnSite editorial team.