gmcintire
Graham
Premium
join:2005-08-09
Blue Ridge, TX
| reply to superdog
Re: Buying competitor's company
Yes, my wife is a full-time elementary school teachers and I work part-time (5-6 hours a day, I'm off by noon to 1-ish) doing support for an online learning company. Our day jobs are how I've been able to finance my existing business.
My current billing system is totally manual with quickbooks, which isn't bad with less than 10 customers but would kill me with 80. The other business has a PowerNOC automatic billing system for his customers (he had used sputnik in the past.)
I'd handle the tech support myself and have a few contractors to handle new installs. I know how much work it is already, and I'm willing to handle it.
What I'd really hate to have happen is another larger company buying out his company, fixing everything, then totally clobbering me. I've done well so far with offering slightly lower prices and better service (and support) to clients, along with referral incentives.
However, right now I see my survival based on either buying out the other company or working on growing my own very rapidly, both of which require capital I don't have. |
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John Galt
Premium
join:2004-09-30
Oceanside, OR
| said by gmcintire  :However, right now I see my survival based on either buying out the other company or working on growing my own very rapidly, both of which require capital I don't have. The proverbial "rock and a hard place"...
Since he approached you it would seem to indicate that he is wanting to escape from his particular situation. Perhaps you could arrange a phased payment to him and a loan to do the most obvious system upgrades (sectorization and such).
A sharp pencil and an eagle eye would be two valuable assets at this point in time.
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A is A |
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gmcintire
Graham
Premium
join:2005-08-09
Blue Ridge, TX | Very wise advice John, thanks. I know he wants out and wants to sell to someone local. The neighboring WISP I've worked with in the past would sell if someone offered them the right price, so I know they wouldn't go after it. |
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