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Old 09-15-2020, 07:53 PM   #1
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Default Interesting short conversation with my Master today.

He wants to sell, and health wise, needs to. Iíve said this before. He now has an offer of $50k cash up front and probably three months until the buyer gets his masterís license and contractors license. Iím sure there will be other stipulations.

My Master mentioned buying my business, buying a jetter, one more truck, and basically own a drain cleaning business with me as his employee?

I definitely have some terms! Iím on the fence. There has to be one more competent guy I can train. We know one, but heís either going to work for the guy or work for his uncle in HVAC.

I want to keep my customers, and the ability to charge my price minus overhead.

Lots to think about.
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Old 09-15-2020, 08:08 PM   #2
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Originally Posted by OpenSights View Post
He wants to sell, and health wise, needs to. Iíve said this before. He now has an offer of $50k cash up front and probably three months until the buyer gets his masterís license and contractors license. Iím sure there will be other stipulations.

My Master mentioned buying my business, buying a jetter, one more truck, and basically own a drain cleaning business with me as his employee?

I definitely have some terms! Iím on the fence. There has to be one more competent guy I can train. We know one, but heís either going to work for the guy or work for his uncle in HVAC.

I want to keep my customers, and the ability to charge my price minus overhead.

Lots to think about.

Do you have a license or are you the guy getting your masters in 3 months?


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Old 09-15-2020, 08:28 PM   #3
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Do you have a license or are you the guy getting your masters in 3 months?


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I own my drain cleaning company licensed and insured. I sub contract for my master as a laborer legally. Mostly I work for him because of our friendship. If it wasnít for me he couldnít replace a heater.
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Old 09-15-2020, 08:33 PM   #4
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I don't get it, the guy you work wants to sell his plumbing business so he can buy a drain cleaning business instead??? So what changes you are still the employee.


Then maybe a new guy buys your boss' business? You wrote something like it some time ago.
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Old 09-15-2020, 08:42 PM   #5
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I think it would be tough to go back to being an employee after running your own business. Even tougher being an employee in the business you built.

Possibly have him invest in your business as a minority owner so you still get to make all the decisions.
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Old 09-15-2020, 08:46 PM   #6
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I think it would be tough to go back to being an employee after running your own business. Even tougher being an employee in the business you built.

Possibly have him invest in your business as a minority owner so you still get to make all the decisions.
Going into business with another guy is never a good idea, where I come from there's always 1 of the 2 who slacks off and cheats the other. Being a minority doesn't it make the other guy your boss and veto every idea you have?
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Old 09-15-2020, 08:50 PM   #7
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Going into business with another guy is never a good idea, where I come from there's always 1 of the 2 who slacks off and cheats the other. Being a minority doesn't it make the other guy your boss and veto every idea you have?
A lot of different ways to structure the partnership. OpenSights can have the guy be a silent partner where he has no say or structure it where OpenSights has final say being majority owner.
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Old 09-15-2020, 08:54 PM   #8
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A lot of different ways to structure the partnership. OpenSights can have the guy be a silent partner where he has no say or structure it where OpenSights has final say being majority owner.
Also if his master canít lift a water heater by himself he sure as hell isnít going to be humping drain machines down basement stairs. OpenSights will still be doing all the work. Might as well have him be an investor only.
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Old 09-15-2020, 09:55 PM   #9
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I'm pretty sure you guys misunderstood it. Opensights boss wants to sell his plumbing business. His boss does NOT want to buy opensights draincleaning business.

Opensights boss had suggested to his potential buyer that the buyer could think about also buying opensights draincleaning business as well so he could basically between the two companies he would acquire have a full line of services to offer and therefore be up and running with 1 or 2 employees right away instead of buying only the plumbing business and basically just be a 1 man show.

Or maybe I probably misunderstood and his boss wants to buy his business and expand on it and just be the boss in the office and opensight the field guy.

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Old 09-16-2020, 07:44 AM   #10
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Not being familiar with MI state law, I'm a bit confused. You have a business of your own but lack a master's License? You mention contractor's license. Does one need both a master's and contractor's license in your state?
Why don't you get your master's license and eliminate the need for another mouth to drink from your trough?
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