Acquisition of an Existing Commercial Landscaping Business

Acquisition of an Existing Commercial Landscaping Business
I’m looking at buying an existing landscape business in my city. The business serves a lot of the big commercial properties in town. I know the owner of the business, as I work out with him at the gym from time to time.

He’s getting ready to retire and travel and would like for me to purchase the business. He said he’d sell it around the $1.6 MM mark. He’s open to carrying a little bit of the loan for me as well.

I have never worked in the industry, but I do have experience managing my parents’ business. They own a small accounting firm.

What would be the financial requirements from me?

Thanks,
Stan

Timestamps
[00:40] Looking at the five Cs of credit - character, capacity, collateral, capital, and conditions
[00:52] Making sure that there’s revenue coming in and business experience
[01:21] The higher decent credit the better
[01:29] The financial requirements for an acquisition of an existing commercial landscaping business
[01:58] Ways to do if you find a great business opportunity to purchase but financially weak

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#businessacquisition #landscapingbusiness #businessfinancing

_________________________________________________________________________________________________ About Beau: Beau Eckstein is a real estate entrepreneur, TV personality, and commercial mortgage advisor, specializing in construction financing and multi-family lending.
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