I get asked all the time for advice on how to buy businesses.
Last week, we acquired lawncareplanner.com from .
You’re probably wondering wtf? Why would you buy that?
Let me explain.
I usually need multiple reasons to act on something.
At the beginning of March, Josh posted a list of projects he was looking to sell, Lawn Care Planner being one of them. It was interesting to me when he first bought it and it is still interesting to me now, so I reached out to try to make a deal. I wasn’t thrilled with the numbers and likely got busy so I forgot about it.
Until two weeks ago…
I was at a friend's house during his wife’s baby shower.
A bunch of dudes talking random nonsense while we waited to go pick up our better halves from the shower.
My friend started mentioning all the work he had been doing to his lawn.
I immediately thought about Lawn Care Planner…
Next, my mind wandered to my childhood.
I remembered how obsessed my father was with maintaining the grass surrounding our house.
For half the year, he’d come home from his corporate job at 5 pm.
We’d eat dinner as a family…
And he’d immediately be outside mowing the lawn and watering it.
Growing up I thought this was ridiculous and would often make fun of him.
I’m pretty sure even my friends gave him shit.
At times I would tell him our lawn looked better than the grass at Yankee Stadium.
Are you getting it yet?
For about two years now, I’ve privately discussed my desire to share more.
Unfortunately, my imposter syndrome is pretty strong and so I’ve always shied away from it.
Until now.
The plan is to use this tiny acquisition as a launching pad for sharing more.
So here are the details of the deal structure, our goals, and how we plan to approach this.
We purchased the business for $10,000.
12 monthly installments at 5% APY.
We effectively bought the business for $855.56.
I’ve loaded up a bank account with the $10K and I’ve already scheduled the remaining 11 wires.
The rules…
We can’t add to the original $10,000. So at minimum, we need to monetize the site enough to cover the interest.
Our goal is to start generating enough revenue to service the monthly debt obligations as quickly as possible so we can allocate the remaining capital to growth.
As far as our plans for growth?
That’s a post for another day.
Last week, we acquired lawncareplanner.com from .
You’re probably wondering wtf? Why would you buy that?
Let me explain.
I usually need multiple reasons to act on something.
At the beginning of March, Josh posted a list of projects he was looking to sell, Lawn Care Planner being one of them. It was interesting to me when he first bought it and it is still interesting to me now, so I reached out to try to make a deal. I wasn’t thrilled with the numbers and likely got busy so I forgot about it.
Until two weeks ago…
I was at a friend's house during his wife’s baby shower.
A bunch of dudes talking random nonsense while we waited to go pick up our better halves from the shower.
My friend started mentioning all the work he had been doing to his lawn.
- Fertilizing
- Aerating
- Dethatching
I immediately thought about Lawn Care Planner…
Next, my mind wandered to my childhood.
I remembered how obsessed my father was with maintaining the grass surrounding our house.
For half the year, he’d come home from his corporate job at 5 pm.
We’d eat dinner as a family…
And he’d immediately be outside mowing the lawn and watering it.
Growing up I thought this was ridiculous and would often make fun of him.
I’m pretty sure even my friends gave him shit.
At times I would tell him our lawn looked better than the grass at Yankee Stadium.
Are you getting it yet?
For about two years now, I’ve privately discussed my desire to share more.
Unfortunately, my imposter syndrome is pretty strong and so I’ve always shied away from it.
Until now.
The plan is to use this tiny acquisition as a launching pad for sharing more.
So here are the details of the deal structure, our goals, and how we plan to approach this.
We purchased the business for $10,000.
12 monthly installments at 5% APY.
We effectively bought the business for $855.56.
I’ve loaded up a bank account with the $10K and I’ve already scheduled the remaining 11 wires.
The rules…
We can’t add to the original $10,000. So at minimum, we need to monetize the site enough to cover the interest.
Our goal is to start generating enough revenue to service the monthly debt obligations as quickly as possible so we can allocate the remaining capital to growth.
As far as our plans for growth?
That’s a post for another day.
