Acquiring an existing gas business can beat hiring and building from scratch, but only if it has service contracts generating steady recurring revenue. The real risk: customers leave after the acquisition. These speakers were lucky their acquired customers stayed.
A lot of engineers kind of reach a point where they want to grow, but the idea of hiring from scratch, building slowly from a customer base feels painful. So is taking on another business a realistic option?
I think definitely it is. I think what's important is knowing what you've taken on or what you're actually going to be getting. You know, if you've got like a big service contract portfolio, then with regular payments coming in, then obviously, you know, that makes things easier. I suppose, yeah, it's just down to to what you're buying really. I mean, for us, like I say, it was just a customer base and we were lucky that the customers stayed with us. We could have been sort of taking on essentially nothing because customers might not have wanted to come across to us.
Your Profit Is More Than Your Salary: Pricing A Trades Business w/ Doug D'Aubrey
He Took Over Another Gas Business After 3 Years As A Sole Trader w/ Dan Giles
