Selling My Company
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I'm looking to sell one of my companies. It already have existing clients but most likely to remove any conflict of interest, I will be selling at a much lower price but all the existing clients will be transfered, meaning you will buy over the company but you will have to find your own clients. The company is a cloud based IT company and the website is http://SingLeaf.com/
If you have questions, please email me directly at [email protected]
You can choose to take over the existing office at Orchard or not, up to you.
I'm selling because I'm raising cash for my other company.
You will be getting the following...
- 100% of the company shares.
- Ownership of all the 7-8 solutions indicated plus source codes.
- Rights to find and assign new Franchisee in other parts of the world
- Take over an assigned franchisee in Singapore (allocated South East Asia to them) (basically they are a sales team selling our solutions to their clients) working on profit sharing basis, so no monthly payroll committments.
- Servers
- All the inventory worth about $5k mentioned in http://singleaf.com/incentives.html
- 3 months transition period to go through everything as necessary. If need more time on transition, we can negotiate but any deals sealed during the period will be shared 50/50.
- Monthly expenditure is about $1k/month inclusive of office. Programmers are paid on a project basis when the clients request for new customizations, of which we will makeup a percentage of the programmers fee and quote to the client.
- Office (Optional)
- Profit is in the 5 digits low mid range.
It is strongly preferred someone with IT background to take over because the sales team while they can find clients, you still need to have IT knowledge to address the client's technical worries.
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BTW, it has NO debts and NO commitments to anything else. The only thing is the rental which has a lease of 1 year left and it's optional meaning if you don't take that, I can use it for my other companies.
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Hmm Cloud Computing Singapore company ... interesting. I'll look into it first.
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Originally posted by Adl.eyedealist:
Hmm Cloud Computing Singapore company ... interesting. I'll look into it first.
Yep, we're currently in talks with some major clients so if you want to come in before or want to join us in the meeting, it's also good so you can see the potential.If you want to know the major clients then just drop me an email.
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how much roughly it cost to buy over yr company
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Originally posted by JerryJan:
how much roughly it cost to buy over yr company
The problem is that I can't fix a good number because as we add new clients/franchisee, the value increases immediately and currently we're in talks with a few major clients. The increase can vary by such big differences that it can be a few times the amount quoted. Imagine I say $1 now and 1 month later we signed an agreement with a major client and the deal is worth $2, so now I tell you I want to sell the company for $3, which is 3 times the original quote.For a small client, the revenue will be about 1-10k/year and for major clients we're looking at $20k onwards annually.
What I can do is this, we can bring you in to meetings with the major clients and show you the invoices for what the clients are paying us, so you know how much revenue to expect. You can also guage whether on your existing networks, could you leverage on it and bring in immediate clients. Some already have networks to certain companies and they can immediately leverage on those connections.
It's also easier to talk face to face because I can type until hand pain also not as good as say bring you down to see a meeting and then we negotiate the deal and you can see how much the deal worth etc.
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how much u are planning to sell it for?
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I can afford $1 or $2.
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as gud as a new company with zero clientele unless u r buying the technology but no proprietary on the noe-how
so wat r u sellin?
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The company owns 7-8 solutions created entirely by our own programmers, so basically it has its own products & portfolio. Yes, that's why we can white label our solutions and appoint franchisee to partner and sell these solutions.
A new company will take time + money + additional money to fix bugs and add missing features while ours are in used by clients. So a new company wanting to start from scratch will spend about 1-2 years to catch up and another $80k to build up those solutions. All these are estimates and based on my own expenditure.
And Ice make a good point, it's preferred someone with IT background take over because without IT background, it's much harder to go talk to clients also.
I'm trying to raise $200k at the moment, of which some will come from the sale of this company and some from the bank loans to fund something I bought in the other company. If I sell at $1 to charlize, then I need to raise another $199,999 from the bank loan.
My ideal selling price is of course 200k but there is a reason why I never put any figure. I want to be open to a lower offer and not kill off all offers. And the amount also depends if you want to take over the existing clients. If you really insists on taking over existing clients, then the valuation will be many times higher heading into 7 digits (existing client contracts willl be shown to let you see the revenue).
Ideally I prefer to cut the selling price and remove the clients altogether, so there's no issues later saying the client want to work with me and not you etc, a lot of avoidable problems. I'm trying to reduce the headaches and problems later for both parties by making sure there's no conflict of interests later on.
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i noe the pain as a patent holder
develop a product is only 1/2 fuk, the other 1/2 is to sell
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Originally posted by lce:
i noe the pain as a patent holder
develop a product is only 1/2 fuk, the other 1/2 is to sell
So true so true. -
look for someone with gud marketin approach and u can focus on the technical
its difficut for a technocrat to condition the mind to make money from solvin problems as to problem is the money
I do need a gud marketin guy too
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Did I get this correct?
You've got 7 solutions for potential new clienteles (which may or may not have specific uses for those solutions), you have $5k inventory and you want to sell your company for $200k.
I suppose those clienteles you tranferring away will be using those solutions created by your company.
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Originally posted by βÎτά:
Did I get this correct?
You've got 7 solutions for potential new clienteles (which may or may not have specific uses for those solutions), you have $5k inventory and you want to sell your company for $200k.
I suppose those clienteles you tranferring away will be using those solutions created by your company.
The clients may or may not be using those solutions. Some were subscribers and then after having the client relationship, they requested for more IT services from our company and we do extra things like web hosting, maintain their other websites, etc (as of now, we're still maintaining their websites and doing web hosting for them. A client even have a contract spanning till 2016 meaning revenues all the way.)You must also take into account that the business already have a business model and a sales team and the reputation. When you mention a new business, I don't think some days a random referred client will just call in for a new sale. To compare a totally new business vs an existing business that has proven positive cash flow is abit unfair, ain't it?
As for the amount, that's why I keep refusing to put an amount. I keep not wanting to put any amount because I am open to offers. You guys insist so I put my ideal figure and now you are making fun of it. (But you imagine when we first started, we paid $80k for the programmers to create these without any clients, we must look stupid to you. We also started without clients and built our way up, which company doesn't? Not just we spent money but we spent years of our lives hard work.) But if you're talking about taking the clients away then we're already making revenue in the 6 digits past year and the sales is growing (because you just retain the existing clients and add new clients so the base rate will grow over the years) so it doesn't make sense.
The agreement will be the sale inclusive of the rights of ownership to those solutions. Our side have spent about $80k overall on the solutions and getting them stable and secured.
And because some may be skeptical like for example, how would anyone subscribe till 2016... that's why we can show proof, black and white. We have built trust, our reputation is there. You start a new company and compare it, it's very unfair.
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hee hee hee hee i have alot of fun playing with the buttons
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The last time I sold my other entity DailyFreeGames.com and I wanted $60k, the guy offered many times lesser, which I end up accepting because really needed the cash. That company also no clients because everything is free, every month I am losing money. Now they managed to make it worth more than $200k USD and they are making good money every month.
Compared to Match.com, I am alot luckier. The founder of Match.com only took $50k but the business is now worth billions. Yes, Match.com is worth billions and the founder only took $50k and was out.
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so how much do I need to buy over yr company
I'm still confused, no price given how to buy ?
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Originally posted by JerryJan:
so how much do I need to buy over yr company
I'm still confused, no price given how to buy ?
Got someone offered $30k. I'm looking no less than $60k. But the amount subjected to change because currently trying to close some deals with the sales team... -
uhm sorry I really don't understand why you are selling your company on this forum. I thought big business men always have their wide network of business contacts? sorry I dont know alot about business
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Originally posted by doraemon1234:
uhm sorry I really don't understand why you are selling your company on this forum. I thought big business men always have their wide network of business contacts? sorry I dont know alot about business
My contacts are restricted to clients and some business guys. I wanted to type something long but then here's the point form instead...- I don't join business networks so my contacts are restricted.
- My marketing are done online through google/yahoo/msn/etc. (so mostly clients)
- I never aggressively push for sales because I prefer the semi retired lifestyle. enough to live comfortably, never buy branded stuff, live simple.
- Rather than pushing something to friends, I rather someone who is interested come to take over. Isn't it awkward to suddenly out of the blue ask a friend, "eh u want to buy my company?"
- The person taking over have to have the passion and belief to succeed... it's abit hard to randomly check my friend list to see who i think have the passion and belief.
I posted here because to see if I can get a decent offer. If not, then obviously I will continue working on the sales.
The thing is I don't mind being very transparent, showing the accounts/contracts/etc... I can even tell you the first year only make less than $10k revenues, then second year a few times more, then third year alot better than second year. In fact first year I slog so bloody hard to get sales. It took me 6-7 months for the first client to come in!!! but after that quite smooth sailing slowly build up the reputation.
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DailyFreeGames.com
I really like your idea and believe in what you are doing, but I am too poor to buy your company.
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Originally posted by Darkness_hacker99:
DailyFreeGames.com
I really like your idea and believe in what you are doing, but I am too poor to buy your company.
haha dun worry, in life alot of things cannot be predicted... just 3 years back, during the recession, I was so broke and heavy in debts that even a beggar is richer than me... serious, i was so down... my credit rating was hurt badly at that time... but i was given a lucky break by God (plus alot of hard work!)... -
life is unpredictable~
