Warren Buffett says he buys companies that even an idiot can run. That could describes my business. Just answer the phone and show up to work. Imagine where this business will go when it’s run by a motivated owner!
Following the Great Recession of 2008-2009, I stumbled upon an opportunity that not only provided a well-paying job, but also enabled me to save aggressively for retirement. I am now ready to retire and pass that opportunity on to the next deserving owner. My business has amazing margins and currently pays nothing for marketing.
When I visited some carpet cleaning jobs with the previous owner, I had to overcome my doubts. First, my white-collar career was centered around going to an office; I didn’t see myself as “blue-collar”. Secondly, I thought the field was glutted with small truck-mount cleaning businesses and dominated by a few national companies that would be hard to compete with. However, I was surprised to find that the rug and carpet cleaning process was unlike any other in the area.
This company uses a very low moisture (VLM) system for most carpets, which leaves carpets clean and dry in 2-3 hours, and a dry cleaning system for natural fibers like wool carpets and rugs which leaves the rug dry immediately. Customers enjoy zero down time! I met several satisfied customers who held the owner in high esteem. Their only concern was that the company would continue after the owner’s time. I learned that these customers didn’t mind paying more for a better quality service. Expenses are low, and margins are high. I quickly agreed to learn and buy the business.
This company is a well-respected business, serving Sonoma County and Marin County with a few high-quality accounts in Napa County (wineries), San Francisco and the East Bay. We are known for getting rugs and carpets cleaner with a clean that lasts longer than the competition. We use less than 10% of the water used by the traditional truck-mount system, which is increasingly appreciated in our drought-stricken state. Additionally, we clean with all-natural chemicals that are safe for children, pets, and people with allergies and asthma.
The business has grown 10% each year during my time (2012 – present). I have been content to work an average of 25 hours per week with 1-2 on-call workers. I don’t advertise; I rely on repeat customers and word of mouth. New customers find my website or they may find our 5-star reviews on Yelp, Google, Facebook or Nextdoor.
As the next owner of this company, you will receive all the equipment and supplies you’ll need to continue this $120,000+ a year business (90% is profit), you will also receive training in our unique cleaning systems for area rugs, wall-to-wall carpet, upholstery, and tile and grout. The best thing is you’ll have contact information and invoices for over 2,000 satisfied residential and commercial customers who have used our services. Many of them come back to us annually or more often. Moreover, you will have the opportunity to grow the business well beyond what I’ve achieved.