You can use the BEST media - reach the MOST prospects, but if you don't give them a REASON for stopping - they won't. You have to figure most people have SOMEONE doing that now - why switch to you?
Small business is a paradigm of a business and is a bit difficult to define. To identify it one may draw contrasts from large business.
How that helps.
-------------------------TJ Mollahan Engineer & Entrepreneur www.ShyEntrepreneur.com
I've consulted in companies from the billions of dollars - to the smallest one man operation - and even owned some companies in between. I can assure you, no one group has a lock on Margins (high or low), Volume, or dynamic market.
I've seen large companies with HUGE margins, small companies that didn't know how to count costs - and vice versa. I've seen the huge company selling one or two HIGH price items a year - not high volume.
I think as in truth, integrity, smart, or more currently guilty/innocent - everyone would draw the line in a very different place. The consulting companies that consult in the "small business" arena suggest broadly it is smaller than $50 million in revenue.
Even at the upper end, many of them keep records and make decisions like they did when they were one man operations. It is a wonderful soup out there!!!
Be careful. If you don't know how to build a laundry - might want to find one that is already profitable. Make sure to get Gross Revenues proven.
Likewise, anyone that gives you a choice doesn't have enough information. Doesn't it matter:
What cost is to get machinery up and running. (you have to measure THE WHOLE investment required against returns to see which will return more)
Population & income within radius (not too many upscale use laundry).
Local competition (within laundry radius (3-? miles)?) How many companies will you be dividing the business up with?
Operating costs? One might have more efficient equip or lower tax/utility costs?
Much to consider - be careful - if you aren't sure, find someone who is and can advise you!!!
Would that it was as easy as the guide lays out, or anywhere near as easy as some think. Wouldn't:
A $100,000 company with $100,000 in assets pose a FAR smaller risk than a $100,000 valuation with $0 assets?
A one-person operation (like barber) who's clients are closely tied to prior owner are more likely to leave upon ownership change be worth different than one owner is less emotionally attached?
A company that is growing be worth more than one not growing - even when their "average" is the same?
A company that once served 5 times the business be worth more than one that has just enough assets to get by for now?
There are MANY MANY things that affect valuations. Unofortunately too many people think it is a simple multiple.
As in the stock market, the person that understands does well - the person that follows the trends/advice of the day are not much more than the final victims of a pyramid scheme. They are the ones that take the big loss.
I agree with Deeana, but I would stress that your new agreement include a very strong buy-out clause. So that if one wants to get out, there is a path that allows the company to fall into one or the other's hands without tearing it apart.
I saw one once where if one partner made an offer and was turned down - the other partner had to offer the same terms to the offering partner. Partnerships, like marriages, are tough - best to establish the terms up front.