Available cash & timely action wins the day.
Got a cold-call today from a small plumbing shop in my area looking to sell their 250 commercial service accounts.
We weren't his first call, but I had an offer to him within a few hours. He replied within 5 mins w/ a counter. Deal.
Got a cold-call today from a small plumbing shop in my area looking to sell their 250 commercial service accounts.
We weren't his first call, but I had an offer to him within a few hours. He replied within 5 mins w/ a counter. Deal.
We're nearly 100% residential service, so this is a great bolt-on for us.
The service provided (backflow prevention testing) will have ~80% gross margin for us and is req'd by law to be performed annually at a minimum.
The service provided (backflow prevention testing) will have ~80% gross margin for us and is req'd by law to be performed annually at a minimum.
We'll also likely become the first call for these commercial accounts when they have an emergency, repair, or other plumbing requirement since we're already there every year servicing their system.
We become "their guy."
We become "their guy."
Terms:
- 40% of T-12 Gross Rev upfront, in cash
- 50% of sales from retained accounts for 1 year
Both sides incentivized for a strong transition.
- 40% of T-12 Gross Rev upfront, in cash
- 50% of sales from retained accounts for 1 year
Both sides incentivized for a strong transition.
Backstory:
Guy built his clientele in NJ over several decades, but moved to his retirement home in VT last year. Commutes to NJ 2-3x+ per month to service his clients and is burnt out.
Guy built his clientele in NJ over several decades, but moved to his retirement home in VT last year. Commutes to NJ 2-3x+ per month to service his clients and is burnt out.
s/o to @NickHaschka, who talked me through his approach to transitioning service accounts last month. I'm sure he'll recognize the structure used here!
• • •
Missing some Tweet in this thread? You can try to
force a refresh
