I just got offered $1.875M for my company. - Page 2 - GoFuckYourself.com

budz · 08-20-2005, 12:59 AM

51......

woj · 08-20-2005, 01:01 AM

after partner split, legal costs, taxes etc, you will end up with only 500k

SmokeyTheBear · 08-20-2005, 01:08 AM

I was offered $50 for the last beer in my fridge once.

chadglni · 08-20-2005, 01:41 AM

Didnt' read but half of the thread. Just wanted to say I love all the idiots yelling to turn it down when they have no idea how much you currently make, how much it's worth, or anything else.

Oh and the non compete, everyone I've ever known to sign one just has a friend open a similar biz.

blazin · 08-20-2005, 02:04 AM

Here in the UK, you will only end up paying 10% tax if you've owned the company for 2 years and then sell. You should go see a good accountant and lawyer to retain as much as your loot as possible.

Going through something similar myself with my mainstream software company - but nowhere near as much loot.
The only downside is having to work for this company for 3 years as part of the 'earnout' deal. I'm told that's how things are normally done.. most of our money will come from share-options and cash bonuses based on a % of gross profit margins. Since they are preparing to float in 2 years those shares will hopefully be very valuable.

The reason we have to take the deal is cos we are over a barrel in a way.. we are partnered with this company and they are providing us with most of our business. They could pull the rug from under us at anytime and want to own us rather than pay us more in the long run.

aleck · 08-20-2005, 02:56 AM

Quote:

Originally Posted by StickyGreen

take that shit man...buy property...

since when property is better than growing biz? :o

Due · 08-20-2005, 03:18 AM

Forget about the money, ask yourself if this is what you wish to do or not.
If it is, keep the company and in a few years you will have a $10M company most likely.
If it is not, sooner or later you will grow tired of it, take the money now and invest them in what you really wish to do. Money invested in a company is also tax deductable.
You will only see growth in a company when you are focused on it, if it is not really what you wish to do, then when you hit some bad times it will be much harder to stay focused!

GigoloJustin · 08-20-2005, 03:21 AM

Quote:

Originally Posted by chadglni

Didnt' read but half of the thread. Just wanted to say I love all the idiots yelling to turn it down when they have no idea how much you currently make, how much it's worth, or anything else.

Oh and the non compete, everyone I've ever known to sign one just has a friend open a similar biz.

Well maybe you should finish reading the rest of the thread before you pop off?

HighOnAcid Wrote:

I'm sure we will because we are on a steady growth and the company will be worth much more in 5 years and another 1,825 14 hour days it will be worth much more.

Miguel T · 08-20-2005, 03:26 AM

Good luck mate ;)

Pornopat · 08-20-2005, 03:33 AM

Never take a first offer no matter how high.

Robx · 08-20-2005, 05:21 AM

Quote:

Originally Posted by rich219inc

you should have a valuation analyst review your business before you think about selling, you might find that its worth much more..

That's some good advice right there.

chadglni · 08-20-2005, 05:22 AM

Quote:

Originally Posted by GigoloJustin

Well maybe you should finish reading the rest of the thread before you pop off?

HighOnAcid Wrote:

I'm sure we will because we are on a steady growth and the company will be worth much more in 5 years and another 1,825 14 hour days it will be worth much more.

Yes I saw every bit of that the first time. Doesn't change a thing.

adonthenet · 08-20-2005, 05:24 AM

congrats thats awosme!

VicD · 08-20-2005, 05:28 AM

Is that a good deal?

Rui · 08-20-2005, 05:29 AM

Turn it down and keep working on it ;)

BastarD · 08-20-2005, 05:31 AM

Quote:

Originally Posted by Pornopat

Never take a first offer no matter how high.

This sounds like a good advice,
don't sell it bro.

HDADULT · 08-20-2005, 06:41 AM

Quote:

Originally Posted by StickyGreen

take that shit man...buy property...

smart man!

Dax · 08-20-2005, 06:42 AM

2 million bux for a print shop ?? Fuuuuck!

sherie · 08-20-2005, 07:22 AM

That's great. However, with 3 people and taxes you are not winning that much. Not to mention the non-compete, that sucks. If you see your company growing that much in 5 years, I would make them double the offer. And have someone analyze your worth....

~Ray · 08-20-2005, 07:34 AM

I don't think that's even $400k each after taxes.

Basic_man · 08-20-2005, 07:39 AM

If you think your company is growing fast, and it will be worth more in some years, don't give up

Rebecca Love · 08-20-2005, 07:43 AM

If they offered you that, they will offer you more.

congrats!

Rob · 08-20-2005, 08:30 AM

I spoke with my partners and they are not interested in selling. We just put together our financials so we could buy a new building and although we didn't make the buy-out amount last year, our growth trend is definetely impressive and we will most likely beat that number very soon.

Another caveat is that they want control of our parent company although the main one they're interested in is AF. I have another mainstream site that is rapidly growing that we had planned a massive marketing campaign early next year.

We have a meeting with our financial advisors and I will certainly let everyone know my decision. As of now, I'm not selling but will continue to build what we have. It's like raising a kid until he's 12 and then selling him off. This is our baby and it will be hard just to walk away from it.

Radik · 08-20-2005, 09:09 AM

It's not even a nice house.. i would hold out.

Rob · 08-22-2005, 06:23 AM

I have a meeting today with my partners to figure out what we're going to do. I will keep everyone posted.

Gungadin · 08-22-2005, 06:26 AM

Good, acidflyers rocks

Dalai lama · 08-22-2005, 06:29 AM

Dont sell it yet.

GTS Mark · 08-22-2005, 06:43 AM

If I were you, I would buy out my partners and then sell the mofo in a year for 3 million ;)

DH

Rinaldo · 08-22-2005, 06:52 AM

I'd sell

Translation · 08-22-2005, 07:11 AM

they just mailed you a blind offer, with no clue of what your business does in revenue or profits? sounds fishy.

Drake · 08-22-2005, 07:12 AM

Quote:

Originally Posted by DrinkingMODerately

If I were you, I would buy out my partners and then sell the mofo in a year for 3 million ;)

DH

That's a decent plan

Odin88 · 08-22-2005, 07:24 AM

Quote:

Originally Posted by Translation

they just mailed you a blind offer, with no clue of what your business does in revenue or profits? sounds fishy.

No it doesn't. I had some nice Nigerian fellow contact me and offer me millions for next to nothing. The cheque should be coming any day now

gangbangjoe · 08-22-2005, 07:30 AM

dont do it

Sosa · 08-22-2005, 07:38 AM

good luck with whatever decision you make

08-20-2005, 12:59 AM	#51
budz Disruptive Innovator Industry Role: Join Date: Sep 2003 Location: Vegas Posts: 4,230	51...... __________________ C:\Code\ C:\Code\Run\

08-20-2005, 01:01 AM	#52
woj <&(©¿©)&> Industry Role: Join Date: Jul 2002 Location: Chicago Posts: 47,882	after partner split, legal costs, taxes etc, you will end up with only 500k __________________ Custom Software Development, email: woj#at#wojfun#.#com to discuss details or skype: wojl2000 or gchat: wojfun or telegram: wojl2000 Affiliate program tools: Hosted Galleries Manager Banner Manager Video Manager Wordpress Affiliate Plugin Pic/Movie of the Day Fansign Generator Zip Manager

08-20-2005, 01:08 AM	#53
SmokeyTheBear ►SouthOfHeaven Join Date: Jun 2004 Location: PlanetEarth MyBoardRank: GerbilMaster My-Penis-Size: extralarge MyWeapon: Computer Posts: 28,609	I was offered $50 for the last beer in my fridge once. __________________ hatisblack at yahoo.com

08-20-2005, 01:41 AM	#54
chadglni Confirmed User Join Date: Dec 2002 Location: PEI, Canada Posts: 6,924	Didnt' read but half of the thread. Just wanted to say I love all the idiots yelling to turn it down when they have no idea how much you currently make, how much it's worth, or anything else. Oh and the non compete, everyone I've ever known to sign one just has a friend open a similar biz. __________________ Sign up here - Dating Site affiliate program

08-20-2005, 02:04 AM	#55
blazin Confirmed User Join Date: Aug 2002 Posts: 2,781	Here in the UK, you will only end up paying 10% tax if you've owned the company for 2 years and then sell. You should go see a good accountant and lawyer to retain as much as your loot as possible. Going through something similar myself with my mainstream software company - but nowhere near as much loot. The only downside is having to work for this company for 3 years as part of the 'earnout' deal. I'm told that's how things are normally done.. most of our money will come from share-options and cash bonuses based on a % of gross profit margins. Since they are preparing to float in 2 years those shares will hopefully be very valuable. The reason we have to take the deal is cos we are over a barrel in a way.. we are partnered with this company and they are providing us with most of our business. They could pull the rug from under us at anytime and want to own us rather than pay us more in the long run. __________________ I don't endorse a god damn thing......

08-20-2005, 03:18 AM	#57
Due Confirmed User Industry Role: Join Date: Mar 2001 Location: Murrieta, CA Posts: 3,620	Forget about the money, ask yourself if this is what you wish to do or not. If it is, keep the company and in a few years you will have a $10M company most likely. If it is not, sooner or later you will grow tired of it, take the money now and invest them in what you really wish to do. Money invested in a company is also tax deductable. You will only see growth in a company when you are focused on it, if it is not really what you wish to do, then when you hit some bad times it will be much harder to stay focused! __________________ I buy plugs Skype: Due_Global /Due

08-20-2005, 03:26 AM	#59
Miguel T ♦ Web Developer ♦ Industry Role: Join Date: May 2005 Location: Full-Stack Developer Posts: 12,472	Good luck mate ;) __________________ Full Stack Webdeveloper: HTML5/CSS3, jQuery, AJAX, ElevatedX, NATS, MechBunny, Wordpress

08-20-2005, 03:33 AM	#60
Pornopat AdultTubeSubmits.com Industry Role: Join Date: Dec 2003 Location: The Netherlands Posts: 10,598	Never take a first offer no matter how high. __________________ https://stripcash.com/sign-up/?userI...fff832eb95ab6a

08-20-2005, 05:24 AM	#63
adonthenet Too lazy to set a custom title Join Date: Feb 2005 Posts: 16,753	congrats thats awosme!

08-20-2005, 05:28 AM	#64
VicD ICQ: 304-611-162 Join Date: Feb 2005 Location: Masterdam Posts: 13,245	Is that a good deal?

08-20-2005, 05:29 AM	#65
Rui web Join Date: Dec 2001 Location: On icq: 85-483-060 Posts: 9,533	Turn it down and keep working on it ;)

08-20-2005, 06:42 AM	#68
Dax Confirmed User Industry Role: Join Date: Apr 2002 Location: USA Posts: 3,161	2 million bux for a print shop ?? Fuuuuck!

08-20-2005, 07:22 AM	#69
sherie Confirmed User Join Date: Feb 2002 Posts: 7,020	That's great. However, with 3 people and taxes you are not winning that much. Not to mention the non-compete, that sucks. If you see your company growing that much in 5 years, I would make them double the offer. And have someone analyze your worth.... __________________ AIM sherierocks ICQ 127-296-286 Skype traffichor Last edited by sherie; 08-20-2005 at 07:25 AM..

08-20-2005, 07:34 AM	#70
~Ray visit hardlinks.org Industry Role: Join Date: Jun 2003 Location: Las Vegas , Nv >>> [email protected] or icq 94994627 anytime Posts: 18,362	I don't think that's even $400k each after taxes. __________________ Adult Backlinks for Adult Websites - Testimonials Available

08-20-2005, 07:39 AM	#71
Basic_man Programming King Pin Industry Role: Join Date: Oct 2003 Location: Montreal Posts: 27,360	If you think your company is growing fast, and it will be worth more in some years, don't give up __________________ UUGallery Builder - automated photo/video gallery plugin for Wordpress! Stop looking! Checkout Naked Hosting, online since 1999 !

08-20-2005, 07:43 AM	#72
Rebecca Love Skinemax BQueen Industry Role: Join Date: Jul 2004 Location: Las Vegas NV Posts: 2,145	If they offered you that, they will offer you more. congrats! __________________ Kisses, Rebecca Love "Skinemax BQueen of Late-Nite" www.RebeccaLove.com

08-20-2005, 08:30 AM	#73
Rob I'm a great bowler. Industry Role: Join Date: Nov 2003 Location: Right Outside of Normal. Posts: 13,309	I spoke with my partners and they are not interested in selling. We just put together our financials so we could buy a new building and although we didn't make the buy-out amount last year, our growth trend is definetely impressive and we will most likely beat that number very soon. Another caveat is that they want control of our parent company although the main one they're interested in is AF. I have another mainstream site that is rapidly growing that we had planned a massive marketing campaign early next year. We have a meeting with our financial advisors and I will certainly let everyone know my decision. As of now, I'm not selling but will continue to build what we have. It's like raising a kid until he's 12 and then selling him off. This is our baby and it will be hard just to walk away from it. __________________

08-20-2005, 09:09 AM	#74
Radik Confirmed User Join Date: Sep 2003 Location: Vancouver ICQ: 3588423 Posts: 808	It's not even a nice house.. i would hold out. __________________ 100% Exclusive, Check Us Out!

08-22-2005, 06:23 AM	#75
Rob I'm a great bowler. Industry Role: Join Date: Nov 2003 Location: Right Outside of Normal. Posts: 13,309	I have a meeting today with my partners to figure out what we're going to do. I will keep everyone posted. __________________

08-22-2005, 06:26 AM	#76
Gungadin Confirmed User Join Date: Aug 2005 Location: O&A PARTY ROCK Posts: 444	Good, acidflyers rocks __________________ The GFY popularity contest scoreboard

08-22-2005, 06:29 AM	#77
Dalai lama Strength and Honor Join Date: Jul 2004 Location: Europe Posts: 16,540	Dont sell it yet. __________________ A program you can trust. Gallerybooster Run multiply TGPs of 1 script

08-22-2005, 06:43 AM	#78
GTS Mark Vrume Mark Industry Role: Join Date: Jan 2001 Location: Toronto, Canada Posts: 20,912	If I were you, I would buy out my partners and then sell the mofo in a year for 3 million ;) DH

08-22-2005, 06:52 AM	#79
Rinaldo Confirmed User Join Date: Sep 2003 Location: South Florida Posts: 5,086	I'd sell

08-22-2005, 07:11 AM	#80
Translation Confirmed User Join Date: Jul 2005 Posts: 482	they just mailed you a blind offer, with no clue of what your business does in revenue or profits? sounds fishy.

08-22-2005, 07:30 AM	#83
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08-22-2005, 07:38 AM	#84
Sosa In Tushy Land Join Date: Oct 2002 Location: Nebraska Posts: 40,149	good luck with whatever decision you make