Mikey P
Administrator
Who's yor Daddy?
Gerber Partridge Steve T how to retire wealthy
- Thread starter Mikey P
- Start date
Ivan Turner
Supportive Member
epiphany
Terry you on the Kimche again?
Terry you on the Kimche again?
Doug D
Supportive Member
So does that mean you are going T?? If so, hope to see you there!!
Just messing with you!!
Just messing with you!!
If guys want to sell for a good profit they better start creating systems for their business right now.
If you have a cleaning company that someone can come in and just buy it and go...that is very valuable.
If you have a company that relies ON YOU to do everything from the cleaning to the marketing...you are screwed when it comes time to sell.
A great recent example, in another business, is something I just went through.
I was very very close to buying a restaurant that was doing well and well respected. The problem?
Once I got to looking into it I realized that in order for the profits to remain the same I was going to have to do a lot of the work. Why the hell would I want to do that?
I didn't want to run a restaurant...I wanted to OWN a restaurant. Major difference.
The same goes with carpet cleaning companies. If any of you one or two man operations think your business is worth much...I have a nice little piece of swamp land in Florida I'd like to sell you. It ain't worth crap.
People that are willing to pay a good amount of money for a business want that business to be turn-key. They want to come in and NOT have to manage, NOT have to do the cleaning, NOT have to do the marketing, NOT have to do the books, NOT have to answer the phone.
So, jealous little "can't be's" like Brevik really should not be listened to.
Hmmmmm. Steve Toburen and Howard Partridge.
Would you rather pay attention to THEM and THEIR success or some guy like Brevik, who is a legend ONLY in his own mind.
If you want to be the "guy" in your business and do it all, then you better make a killing NOW and in the next few years. You better hope like heck you don't get sick or injured (been there, done that), and you better hope your body holds up well for a long time.
And finally, you better hope someone as dumb as a box of rocks comes along and buys your business for a good price. Because you WILL NOT get any smart person, who is willing to pay a decent price, to even take a casual look.
DevilDog
If you have a cleaning company that someone can come in and just buy it and go...that is very valuable.
If you have a company that relies ON YOU to do everything from the cleaning to the marketing...you are screwed when it comes time to sell.
A great recent example, in another business, is something I just went through.
I was very very close to buying a restaurant that was doing well and well respected. The problem?
Once I got to looking into it I realized that in order for the profits to remain the same I was going to have to do a lot of the work. Why the hell would I want to do that?
I didn't want to run a restaurant...I wanted to OWN a restaurant. Major difference.
The same goes with carpet cleaning companies. If any of you one or two man operations think your business is worth much...I have a nice little piece of swamp land in Florida I'd like to sell you. It ain't worth crap.
People that are willing to pay a good amount of money for a business want that business to be turn-key. They want to come in and NOT have to manage, NOT have to do the cleaning, NOT have to do the marketing, NOT have to do the books, NOT have to answer the phone.
So, jealous little "can't be's" like Brevik really should not be listened to.
Hmmmmm. Steve Toburen and Howard Partridge.
Would you rather pay attention to THEM and THEIR success or some guy like Brevik, who is a legend ONLY in his own mind.
If you want to be the "guy" in your business and do it all, then you better make a killing NOW and in the next few years. You better hope like heck you don't get sick or injured (been there, done that), and you better hope your body holds up well for a long time.
And finally, you better hope someone as dumb as a box of rocks comes along and buys your business for a good price. Because you WILL NOT get any smart person, who is willing to pay a decent price, to even take a casual look.
DevilDog
Steve in Omaha
Member
dd wrote
Most successful restaurant owners work longer hours than most cc's. Would venture to guess that a one location restaurant sans owner present most of the time would not have healthy profit margins.
Jobs (small business's) are bought and sold every day. There are fewer and fewer jobs out there for the average joe that pay in the high 5 to low 6 figures. There are a lot of average joe's out there with the ability to secure six figures for a buyout.
Are you going to retire on the sales from a oo company? Of course not. However, it can be a nice bonus on top of the savings you have banked over the years.
Most successful restaurant owners work longer hours than most cc's. Would venture to guess that a one location restaurant sans owner present most of the time would not have healthy profit margins.
Jobs (small business's) are bought and sold every day. There are fewer and fewer jobs out there for the average joe that pay in the high 5 to low 6 figures. There are a lot of average joe's out there with the ability to secure six figures for a buyout.
Are you going to retire on the sales from a oo company? Of course not. However, it can be a nice bonus on top of the savings you have banked over the years.
Ken Snow
RIP
Very well said Devil Dog! I think that the value of SFS, or Howards products/system/classes/ round tables etc is that many do not learn well or take action in a library book or traditional classroom environment and really do need the coaching, systems, teaching style that can be recieved through Steve and HP's programs. As someone who has been through them both, and sent many dozens of employees through (one of them) I think I have gotten more value to me and my company than through any other learning method. Really that is all that matters, whether the client feels they get value~ and I do.
Ken
Ken
Desk Jockey
Member
Wow T you talked me out of going!
I'm sending my brother instead!!!
I'm sending my brother instead!!!
I've asked why are O/O so criticized for being just that?
I know myself and others just don't want the headaches and we understand the risks involved.Its more of a myth to sell a carpet cleaning small operation than you think.To sell old equipment and your customer list means nothing.The owner op's business is built on the owner's relationship with HIS customer base.For someone to come in and buy it better expect a customer fall out with the change over.
I've known several local companies who finally went back down to a owner op and they love it .
Its more of the distributors who constantly belittle the owner op because they want to sell more product and machines.
But in the end its up to the little guy to invest in HIS retirement instead of listening to condescending suppliers.
In this life there is no guarantee and when you start to predict life it will throw its own wrench to upset your plans.
Go with the flow and enjoy life.
And prepare.
And with a final comment.
KMA!
I know myself and others just don't want the headaches and we understand the risks involved.Its more of a myth to sell a carpet cleaning small operation than you think.To sell old equipment and your customer list means nothing.The owner op's business is built on the owner's relationship with HIS customer base.For someone to come in and buy it better expect a customer fall out with the change over.
I've known several local companies who finally went back down to a owner op and they love it .
Its more of the distributors who constantly belittle the owner op because they want to sell more product and machines.
But in the end its up to the little guy to invest in HIS retirement instead of listening to condescending suppliers.
In this life there is no guarantee and when you start to predict life it will throw its own wrench to upset your plans.
Go with the flow and enjoy life.
And prepare.
And with a final comment.
KMA!
Mikey P
Administrator
I think I am going to make DevilDog an Administrator here.
steve frasier
Supportive Member
work hard and save your money
Ken Snow
RIP
Jimmy ~ who criticized OO's?? My response had nothing to do with whether or not someone should or shouldn't be one and I vividly recall Steve Toburen having positive things to say about people who choose the be OO's and he also gave imo good advise to assist those reach there goals and still be an OO.
My comment was solely aimed at putting a different perspective on Terry's opinion~ an uneducated opinion I suspect as I believe he has never been to an SFS class or one of Howard's Round Tables. He even picks fights about it~ he started this silly thread.
Ken
My comment was solely aimed at putting a different perspective on Terry's opinion~ an uneducated opinion I suspect as I believe he has never been to an SFS class or one of Howard's Round Tables. He even picks fights about it~ he started this silly thread.
Ken
Ken Snow
RIP
dgargan
Member
- Joined
- Nov 14, 2006
- Messages
- 706
I feel that the info they have to sell is the best deal out there and they should charge double what they charge now. If your looking to become a larger more secure business they have the know how. If you want to stay a single owner/operator don't spend your money.
I went through SFS a year and a half ago and it hit me like a ton of bricks. I was in my 40's and built a nice lifestyle carpet cleaning but my body was slowing down. I would lose everything if I wasn't there making it all happen. I started putting the SFS info into place & became an Inner Circle member of HP. In the last year and a half I went from 1 van to 3, 1 part time employee to 2 full time employees and 1 part timer. And the best part is I have great people working for me unlike the nightmare employee's I used to go through every month like clock work.
All I can say is it worked for me and to each his own. I think the up coming seminar would be a great way to get an introduction to both of these fine men and see if it's what you want.
I went through SFS a year and a half ago and it hit me like a ton of bricks. I was in my 40's and built a nice lifestyle carpet cleaning but my body was slowing down. I would lose everything if I wasn't there making it all happen. I started putting the SFS info into place & became an Inner Circle member of HP. In the last year and a half I went from 1 van to 3, 1 part time employee to 2 full time employees and 1 part timer. And the best part is I have great people working for me unlike the nightmare employee's I used to go through every month like clock work.
All I can say is it worked for me and to each his own. I think the up coming seminar would be a great way to get an introduction to both of these fine men and see if it's what you want.
Ken Snow
RIP
Uneducated in the topic you oppose so fervently T, not whether or not your have a diploma of any kind. I have no argument with you that everything that is taught at any of our "industry specific" forums could not also be learned elsewhere including a library or local college. For me it all comes down to how people learn and what will motivate them/me/my people.
Why do you have such a hard on against this type of learning? I think you would agree that whatever they charge it is still relatively inexpensive even if not much of it sticks, and the fact that SFS and HP's Round Table almost always sell out indicates to me that enough people find them to be of value that they recommend them to others or like me have other's in their orgs go or repeat the class (I have repeated and sent others).
Ken
Why do you have such a hard on against this type of learning? I think you would agree that whatever they charge it is still relatively inexpensive even if not much of it sticks, and the fact that SFS and HP's Round Table almost always sell out indicates to me that enough people find them to be of value that they recommend them to others or like me have other's in their orgs go or repeat the class (I have repeated and sent others).
Ken
I am NOT being critical of owner operators at all. What I am saying is that there are plenty of owner operators who don't see the big picture. Geez, I am an owner operator.
If you want to set yourself up much much better then you need to get employees (whether that is one or 10 or 100, whatever you want) and get systems in your business.
That way three things will happen. Number one...you'll be able to make money if you are on vacation, sitting at home watching t.v., or maybe ill or injured.
I am a very good example of what can happen when you decide to get rid of employees and go it alone. I was in a car wreck on Valentines Day, 2005. Cost me a LOT of the year.
Trust me on this one...when you are a owner operator and CAN'T work, it gets REAL stressful.
Number two...your business will be making you money even if YOU retire from it. So whether you are 40 or 80, you still are making a terrific income.
Number three...if you do decide to sell you will get far more money for it if it is a turn key type of business.
There are a lot of ways to skin a cat. Do what makes YOU happy, but don't be naive. The older you get the tougher this business is to do by yourself.
And if you want to go the Steve Marsh way....GREAT, whatever works for you. But just be warned that the next slipped disk, the un-forseen illness, and the spit -second -your -life -changes -car -wreck can happen to any of us, at any time.
Let's get real....most of us would NOT go out every day and clean carpets if we KNEW we could make a really nice income with OTHERS doing the cleaning. You know most of us wouldn't touch a wand again.
Some of these guys would...they really like cleaning. But most of us would not.
So the bottom line is if you are thinking about expanding and then wanting to sell for a much better price down the line...you would be well advised to pay attention to guys that have done it.
If you want to get the wand out of your hand and get off the van...then you would be well advised to pay attention to the guys that have done it.
If you want to be tied to your business and put yourself in a situation where you are making NOTHING if you are injured, sick, or on vacation....then keep doing what you are doing.
DevilDog
If you want to set yourself up much much better then you need to get employees (whether that is one or 10 or 100, whatever you want) and get systems in your business.
That way three things will happen. Number one...you'll be able to make money if you are on vacation, sitting at home watching t.v., or maybe ill or injured.
I am a very good example of what can happen when you decide to get rid of employees and go it alone. I was in a car wreck on Valentines Day, 2005. Cost me a LOT of the year.
Trust me on this one...when you are a owner operator and CAN'T work, it gets REAL stressful.
Number two...your business will be making you money even if YOU retire from it. So whether you are 40 or 80, you still are making a terrific income.
Number three...if you do decide to sell you will get far more money for it if it is a turn key type of business.
There are a lot of ways to skin a cat. Do what makes YOU happy, but don't be naive. The older you get the tougher this business is to do by yourself.
And if you want to go the Steve Marsh way....GREAT, whatever works for you. But just be warned that the next slipped disk, the un-forseen illness, and the spit -second -your -life -changes -car -wreck can happen to any of us, at any time.
Let's get real....most of us would NOT go out every day and clean carpets if we KNEW we could make a really nice income with OTHERS doing the cleaning. You know most of us wouldn't touch a wand again.
Some of these guys would...they really like cleaning. But most of us would not.
So the bottom line is if you are thinking about expanding and then wanting to sell for a much better price down the line...you would be well advised to pay attention to guys that have done it.
If you want to get the wand out of your hand and get off the van...then you would be well advised to pay attention to the guys that have done it.
If you want to be tied to your business and put yourself in a situation where you are making NOTHING if you are injured, sick, or on vacation....then keep doing what you are doing.
DevilDog
R
R W
Guest
My CC business?? I doubt that I could sell that for much more than the value of the equipment. My customers call me for the work I do, not some employee. That's just the nature of a "refered" CC business. Now as for one of my competitors, Steamaction Carpet Cleaning, they have at least 5 trucks, propably more, many employees, and a very sucessful advertising campaign. This business could be sold to any businessman, and continue running without a glitch. They have well trained employees that would keep the business running.
(By the way, I believe it might be for sale)
As for my embroidery and screenprint business, we have finally got on track with sales and increasing business. I play a very little part in actual production in the shop....I have a full time embroidery employee, and a screenprint employee. I could sell the business tomorrow for more than I've got in it, and most customers would never know I've left. But I want to play with it for a while longer, and wait to see if my son's want it. It is kind of a neat business. We picked up an account for a mail order shirt business, and we make apparel almost daily for this customer. We are working on doing some work for the New World Middleweight Boxing Champion, Kelly Pavlik, who is from Youngstown and wants to keep his business in town. He defeated Jermaine Taylor with a TKO in the 7th round last weekend.
The embroidery and SP business will be my 2nd retirement fund.
(By the way, I believe it might be for sale)
As for my embroidery and screenprint business, we have finally got on track with sales and increasing business. I play a very little part in actual production in the shop....I have a full time embroidery employee, and a screenprint employee. I could sell the business tomorrow for more than I've got in it, and most customers would never know I've left. But I want to play with it for a while longer, and wait to see if my son's want it. It is kind of a neat business. We picked up an account for a mail order shirt business, and we make apparel almost daily for this customer. We are working on doing some work for the New World Middleweight Boxing Champion, Kelly Pavlik, who is from Youngstown and wants to keep his business in town. He defeated Jermaine Taylor with a TKO in the 7th round last weekend.
The embroidery and SP business will be my 2nd retirement fund.
hogjowl
Idiot™
I seriously think I could be the one person here that could solve the question of whether or not SFS is for real, or just a Joe Polish knock off.
IB should invite me for free and see if he can make a success out of me.
If he's successful, all you fools would have no doubt it could work for you.
IB should invite me for free and see if he can make a success out of me.
If he's successful, all you fools would have no doubt it could work for you.
hogjowl
Idiot™
White trash is a common condition down here, Terry, but comparing me with Mikey hurts.
Mikey P
Administrator
Well not to bang my own drum but here I am, probably one of the most successful OO's on this continent and on my way to SFS tomorrow morning...
The brain of my operation is coming along too so we'll see if Steve, Bill and the gang can inspire/ teach this one truck show how to expand.
I need ideas because I am in a very tricky market where there are only so many high dollar homes willing to pay my Steve Marsh inspired prices.
I dont want to get into WD. I already do Tile and Grout.
Mr Marsh agrees with me that there really is nothing he has to teach me.
I can't afford to hire Mr Good looking, parted hair, fresh breath, pleated pants, all smiles, GED in pocket, family man. That guy needs $80G's a year around here minimum. And even that wont buy him a double wide.
We'll see...
The brain of my operation is coming along too so we'll see if Steve, Bill and the gang can inspire/ teach this one truck show how to expand.
I need ideas because I am in a very tricky market where there are only so many high dollar homes willing to pay my Steve Marsh inspired prices.
I dont want to get into WD. I already do Tile and Grout.
Mr Marsh agrees with me that there really is nothing he has to teach me.
I can't afford to hire Mr Good looking, parted hair, fresh breath, pleated pants, all smiles, GED in pocket, family man. That guy needs $80G's a year around here minimum. And even that wont buy him a double wide.
We'll see...
G
Guest
Guest
Mike,
If you have many average people in your market, they will also pay your prices. I do it everyday.
Dave
If you have many average people in your market, they will also pay your prices. I do it everyday.
Dave
Mikey P
Administrator
I know Dave but could you get them to pay your employees the same price?
You and I know how to turn on the charm. We have too...
What would you have to pay to find a guy with your salesmanship, skills, energy and drive?
Exactly....
You and I know how to turn on the charm. We have too...
What would you have to pay to find a guy with your salesmanship, skills, energy and drive?
Exactly....
G
Guest
Guest
Yes I could. In 2004 I had an employee for 9 months that went out in the truck by himself everyday and I ran the office.
He whined and cried everyday about all the work I had. He thought I was killing him. I fired him and have been back in the truck since.
My problem is finding someone to be able to handle the work I give them. I really hate when you say it's too hard or you can't do it.
That's why I had to buy that second truck so I could do the work he couldn't. Now I do all that work with 1 truck and don't have to listen to a whiney boy everyday.
Believe me if you are answering the phones you will find your closing rate to go up because nobody can sell your company better than you. I know this because I have been there.
Dave
He whined and cried everyday about all the work I had. He thought I was killing him. I fired him and have been back in the truck since.
My problem is finding someone to be able to handle the work I give them. I really hate when you say it's too hard or you can't do it.
That's why I had to buy that second truck so I could do the work he couldn't. Now I do all that work with 1 truck and don't have to listen to a whiney boy everyday.
Believe me if you are answering the phones you will find your closing rate to go up because nobody can sell your company better than you. I know this because I have been there.
Dave
Mikey P
Administrator
I didn't quite get all that but let me ask you where do you see your company in five years?
How will you utilize that new building all by yourself?
How will you utilize that new building all by yourself?
G
Guest
Guest
Where do I see myself in 5 years? That's a good question. If I am doing as well as I am now I will have a lot of cash in the bank. I would be happy cleaning by myself in the truck. I have had a company with 14 employees. I make more net now and have no headaches. Life is easy.
What will I do with my building? I will do the same as I have for the last 3 years. I am currently in a shop that I have paid someone else $72,000.00 and have nothing to show for it. In 5 years I will owe $204,000.00 on my building and it will be worth at least $350,000.00.
If I stayed in the shop I am in I would have nothing more than I have now. I do want to purchase at least 1 more property in the next 5 years.
Dave
What will I do with my building? I will do the same as I have for the last 3 years. I am currently in a shop that I have paid someone else $72,000.00 and have nothing to show for it. In 5 years I will owe $204,000.00 on my building and it will be worth at least $350,000.00.
If I stayed in the shop I am in I would have nothing more than I have now. I do want to purchase at least 1 more property in the next 5 years.
Dave
Mikey P
Administrator
I hope you dont play any sports Dave.
G
Guest
Guest
Mike,
I use to race Karts and I crashed and broke all my ribs and lost my spleen. 2 weeks later I was cleaning carpets. When you have to do it you find a way. I was not supposed to lift more than 10 pounds for 8 weeks.
two years ago I had Pneumonia and 2 weeks later I was cleaning. My doctor said with an oxygen level of 89 it would be impossible. I had to talk them into letting me out of the hospital because they normally don't let you out unless your oxygen is at least 91 and then they make you leave with oxygen.
If I could get through those 2 things I will be fine. If you can clean carpets with broken ribs you can handle just about any pain.
Dave
I use to race Karts and I crashed and broke all my ribs and lost my spleen. 2 weeks later I was cleaning carpets. When you have to do it you find a way. I was not supposed to lift more than 10 pounds for 8 weeks.
two years ago I had Pneumonia and 2 weeks later I was cleaning. My doctor said with an oxygen level of 89 it would be impossible. I had to talk them into letting me out of the hospital because they normally don't let you out unless your oxygen is at least 91 and then they make you leave with oxygen.
If I could get through those 2 things I will be fine. If you can clean carpets with broken ribs you can handle just about any pain.
Dave
