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Author	Comments
Curtis Bell Posted: Feb 14, 2009 12:01 AM	Selling equipment First off I'd really would like to keep spraying but things just aren't panning out. With that said I'd like some suggestions on selling. If the buyer needs "educated" how much would be fair. Has any of you been bought out but still work for the buyer? I hate to see it go but if something doesn't happen and quick, its time to hang it up. :( Any help and insight would be greatly appreciated!
Posted: Feb 14, 2009 09:58 AM	Hi Overspray I feel for you and the decision that you have to make. You may want to keep in mind a couple of things before making your decision. 1) Its bad all over. Unless you are in a field where money doesn't matter, then you are definately feeling the crunch. 2) If your equipement is paid for, you may want to hold on to it for a little while even if it means taking another job until some work comes in. I am only telling you this for one reason. Once you sell your equipment, you probably won't be getting back into the spray foam business again. If you like what you are doing, don't give up on it 100 Percent yet. There will be jobs in the future and if you still have your equipment, you will be able to go after those jobs. Now if you are dead set on selling your equipment and the buyer doesn't have any equipment or spraying experience, it would be very wise for them to pay to keep you on for a couple of weeks to show them what it takes to be able to spray. Prep work, maintenance, dealing with crossover issues, etc... That kind of education is at least work $1000.00 to $2000.00. If not, they will wish that had paid for your experience after dealing with the issues on the first couple of jobs. Selling your company: In 1999, I sold my first company which was undercapitalized. The buyer was in the same industry and paid me a lot of money to stay on. The problem was that no matter what you bring to the table, you are still only an employee. Just because I sold my company, didn't mean that I wasn't good at what I did, but I was definately treated that way. In less than a year, I went back on my own and ended up taking my old company back and his. Business is a rough road to travel and unless you are extremely bright (Bill Gates,etc..) or very lucky , it will take time and a lot of effort to be successful. Good luck in whatever you do! Steve
clint moore Posted: Feb 16, 2009 01:54 PM	If you are concentrating on wall insulation you need to open up. There are many other areas inwhich spray foam is useful.For example spraying tanks & pipes, I'm sure that some of the readers can suggest other areas they have been succussful with. Don't give it up,not yet.
Greg Pruitt Posted: Mar 09, 2009 05:08 AM	I am interested in knowing more about spraying pipes, that is one thing I have not done. Would love to talk with you. Greg
Gordon Howard Posted: Mar 10, 2009 12:55 PM	I sold out recently. It was a gut wrenching experience. Fortunately I am moving and have work lined up so there is some direction there to keep me from getting too down, but now i wish everyday i hadn't thrown in the towel. Although I keep telling myself I will get back into the business, the money has already been spent on bills and I think now it is unlikely. I have a card up my sleeve I can't play quite yet, but hopefully soon. The guy I sold from is young and energetic. Not like me. He bought the business name and everything. I hope he does well, I feel guilty in a way selling to him because I know things are rough, but I was very up front with him. This is my last email from this address, thanks everyone for the good times. Gordon Howard
Linerman Posted: Mar 10, 2009 07:27 PM	Gordo, no way!!! Very sorry to hear that. I know it is rough out there. I was talkin to my supplier the other day and I asked how was his business and he told me that the majority of his clientele's business is down to as much as 75%...talk about depressing. May good fortune come to you Gordo. I know its hard to let something go after putting your blood and sweat into something. Hope everything works out for you.

Author

Comments

Curtis Bell

Posted: Feb 14, 2009 12:01 AM

Selling equipment

First off I'd really would like to keep spraying but things just aren't panning out. With that said I'd like some suggestions on selling. If the buyer needs "educated" how much would be fair. Has any of you been bought out but still work for the buyer? I hate to see it go but if something doesn't happen and quick, its time to hang it up. :(
Any help and insight would be greatly appreciated!

Posted: Feb 14, 2009 09:58 AM

Hi Overspray

I feel for you and the decision that you have to make. You may want to keep in mind a couple of things before making your decision.

1) Its bad all over. Unless you are in a field where money doesn't matter, then you are definately feeling the crunch.

2) If your equipement is paid for, you may want to hold on to it for a little while even if it means taking another job until some work comes in.

I am only telling you this for one reason. Once you sell your equipment, you probably won't be getting back into the spray foam business again.

If you like what you are doing, don't give up on it 100 Percent yet. There will be jobs in the future and if you still have your equipment, you will be able to go after those jobs.

Now if you are dead set on selling your equipment and the buyer doesn't have any equipment or spraying experience, it would be very wise for them to pay to keep you on for a couple of weeks to show them what it takes to be able to spray. Prep work, maintenance, dealing with crossover issues, etc... That kind of education is at least work $1000.00 to $2000.00.

If not, they will wish that had paid for your experience after dealing with the issues on the first couple of jobs.

Selling your company: In 1999, I sold my first company which was undercapitalized. The buyer was in the same industry and paid me a lot of money to stay on. The problem was that no matter what you bring to the table, you are still only an employee. Just because I sold my company, didn't mean that I wasn't good at what I did, but I was definately treated that way. In less than a year, I went back on my own and ended up taking my old company back and his.

Business is a rough road to travel and unless you are extremely bright (Bill Gates,etc..) or very lucky , it will take time and a lot of effort to be successful.

Good luck in whatever you do!

Steve

clint moore

Posted: Feb 16, 2009 01:54 PM

If you are concentrating on wall insulation you need to open up. There are many other areas inwhich spray foam is useful.For example spraying tanks & pipes, I'm sure that some of the readers can suggest other areas they have been succussful with. Don't give it up,not yet.

Greg Pruitt

Posted: Mar 09, 2009 05:08 AM

I am interested in knowing more about spraying pipes, that is one thing I have not done. Would love to talk with you. Greg

Gordon Howard

Posted: Mar 10, 2009 12:55 PM

I sold out recently. It was a gut wrenching experience. Fortunately I am moving and have work lined up so there is some direction there to keep me from getting too down, but now i wish everyday i hadn't thrown in the towel. Although I keep telling myself I will get back into the business, the money has already been spent on bills and I think now it is unlikely.

I have a card up my sleeve I can't play quite yet, but hopefully soon.

The guy I sold from is young and energetic. Not like me. He bought the business name and everything. I hope he does well, I feel guilty in a way selling to him because I know things are rough, but I was very up front with him.

This is my last email from this address, thanks everyone for the good times.

Gordon Howard

Linerman

Posted: Mar 10, 2009 07:27 PM

Gordo, no way!!! Very sorry to hear that.

I know it is rough out there. I was talkin to my supplier the other day and I asked how was his business and he told me that the majority of his clientele's business is down to as much as 75%...talk about depressing.

May good fortune come to you Gordo. I know its hard to let something go after putting your blood and sweat into something.

Hope everything works out for you.

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