I need sale my business!

[ca.detailchick]

Thanks every body for the answers, the truth is I`m divorcing & I need to pay to my ex half of what the business worth, is a mobile detailing, just part time 3 days a week, I make like $800 a month, price for equipment maybe $1800, What you guys think? Her lawyer said around $10,000.00,. and I said that is too much. thanks for the help...

I have no idea what your business is worth but having to sell your business and giving her half just seems wrong.

If your still on speaking terms try to talk about it with her and see if she will let it go.

If not go after her jewelry and shoes and tell her you want half!

Good luck and sorry your going through that!

[Swanicyouth]

Oh man, its so nice to be unmarried and live alone. Give her whatever it takes to get rid of her. It will be worth it.

[C. Charles Hahn]

Also, let this be a lesson to those of you/us who are not married.... get your spouse to sign a prenup that explicitly waives her claim to the assets of your business in the event of a divorce.

[Tex Star Detail]

My EX let me have my business in the divorce, as long as she got the DYSON house vacuum. NO LIE, it`s in my divorce papers. LOL

[aray]

Thanks every body for the answers, the truth is I`m divorcing & I need to pay to my ex half of what the business worth, is a mobile detailing, just part time 3 days a week, I make like $800 a month, price for equipment maybe $1800, What you guys think? Her lawyer said around $10,000.00,. and I said that is too much. thanks for the help...

$1800 in assets
No real long term guaranteed contracts
No employees, or employee agreements
If you were to leave the business, I`m guessing revenue would be zero, and the customers would go with you.

What would a reasonable investor pay for that? A valuation has to be the `here and now` value of the business, and doesn`t really include YOU.

The fact that you`ve made $800 a month is due to the fact you probably bust your ass and do a good job. It`s based on your labor. It`s not a detailing empire with 20 trucks, buildings, huge contracts, and superior processes that runs on its own.

An investor would look at it and say, what would it cost me to assemble a client list and $1800 worth of equipment, and then he`d want a discount factored in. Maybe $2500 max? That`s the value in the real world, if you could even find someone to buy it.

Trying to use large company valuation theories like X times revenue doesn`t work when it`s a one person company, and really a side JOB more than a business.

If she thinks its worth $10k, dissolve it, give her half the equipment and start a new business the next day. OR tell her she can have it all, and ask them to make it up to you with $5k of other marital assets. (Like cash...)

Good luck!

[ca.detailchick]

[QUOTE=aray;460683
OR tell her she can have it all, and ask them to make it up to you with $5k of other marital assets. (Like cash...)

Good luck![/QUOTE]
There you go west coast!

[Concours.John]

You need to make sure you value your tools/assets at the current depreciation value. Supplies 1-2 years tools no mare than 5 max . Other than that they are not worth more than you can get at a garage sale for them.
Nothing unless returnable for full value is worth what you paid in any court.

[West Coast]

Thankyou to all of you for the help, but My ex want to see me living under the bridge, god bless you.

[Tex Star Detail]

Don`t they all? I went back and forth with my 2nd ex wife numerous times. A joke

[forrest@mothers]

And what does YOUR lawyer say it`s worth? Sounds like her lawyer`s just negotating for a big number.

Have your lawyer suggest its worth 50% of the value of the equipment and supplies. $10,000 doesn`t seem anywhere near where a reasonable person would value it.

[BobbyG]

$10,000

Lawyer Pockets - $8500
Business Value - $1500
Wife`s Half - $750

The difference between a dead lawyer and a dead skunk on the road is the skunk has skid marks before it....

[skibik]

If you can`t get her to just give it up then have a friend you can trust and here is what you do. Figure out what you think the equipment is worth such as if you were going to sell it at a garage sale. You say about $1800. Sell it all to someone you can trust for $500, write up a contract, bill of sale or whatever it takes to prove it to her lawyer that is what you got for it. Give her 50% of that and at a later date buy the equipment back from your friend at say $510. I am not sure the laws and such on doing this but don`t think much can be done on her side. You made an effort to sell it and you have the bill of sale. Your business is mobile and as mentioned above it is only worth the price of the equipment and materials.

Dean.