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Posted by: muderick on 2010-07-09, 09:23:07
OK, if your friend is interesting in buying a landscaping business, make sure they do their 'due deligence'. By that it is meant that the accounts are gone over properly!! It's unfortunately quite easy to be hoodwinked so do be careful as the industry is very competitive. If the business is sound and already has contracts that could be taken over easily, then the I would say the bad things are the heavy manual labour (unless you can afford to hire someone else of course!), long hours, paperwork, chasing accounts for money, making sure everything is done to a timescale and in the correct order, keeping your own business accounts and paying tax etc., getting new business and marketing. You will also find that the winter months are likely to be quieter for obvious reasons so you will need to put money by, particularly if you employ someone else. If the business fails, there is only one person to blame. Holidays are usually taken during the quieter winter months instead of the summer. On the plus side, you're the boss and that is a good feeling!! However, this is not an easy option and you will work twice as hard as you do when you are employed and have more responsibilities. But, if it all works well and you can put the hours in, it can be a very profitable business to get into. Hope that's given you some food for thought! |
