This highly profitable business and long established business services high end residential customers (no commercial accounts) on the north Shore of Long Island, primarily providing lawn maintenance and plantings.

Areas served include: Great Neck, Manhasset, Roslyn, Roslyn Harbor, Kings Park, Lloyd Harbor, Old Westbury, Brookville, Old Brookville and Oyster Bay. The business has licenses to operate in each of these towns.

The business normally services about 100 accounts a year and has contracts with about 60.

The business invoices homeowners monthly and is paid in cash or checks. In addition to the two owners, the firm employs 8 workers. In addition to the lawn maintenance services in the spring, summer and fall months, the company provides snow cleaning services in the winter months.

While we considered bank (SBA) financing and presented that the deal could be eligible for $800K in financing, the owners have reached retirement age and asked us to price the business for a quick, all cash sale. The business can be acquired as a debt free, asset sale for $400,000.

While we normally assist buyers in arranging financing, the buyer will have to arrange his own financing (personal funds, HELOC, etc.) to complete the transaction. The sellers are concerned that an SBA financed deal will take several months and they are not willing to support a buyer in this financing option.