Southeast Landscaping Company Sold for $80K, LOI in 45 Days
Rachel Horner
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2 min read
About the Business
Industry: Home Services – Residential Landscape Maintenance, Design and Installation
Location: Southeast
Size: $150K–$200K in annual revenue, under $50K in cash flow
Sale price: $80,000 (asking price: $95,000)
Listing to signed LOI: 45 days
Signed LOI to close: 64 days
The Challenge: Retiring Without Leaving Clients Behind
The owner was ready to retire and was still working in the business every week. She wanted a buyer who would keep serving her longtime clients.
45 Days to a Signed LOI: Pushing for More Cash Up Front
What happened at every stage
Valuation: Baton set the asking price at $95,000, about 2 times cash flow.
Buyer Outreach: Baton listed the company on its marketplace and BizBuySell, and the winning inquiry came 13 days after launch. The Baton advisor replied the same day, screened the buyers and set up an in-person meeting with the owner.
Offer Selection and Negotiation Support: The buyers, a local first-time team, offered $70,000 up front plus a consulting retainer, and the Baton advisor pushed back in writing for more cash at closing. Their LOI came in at $80,000 up front, $10,000 above both their first offer and the owner's own estimate of the company's value.
Diligence and Closing Support: The Baton advisor helped the owner put her acceptance of the LOI in writing and coordinated both sides through the purchase agreement. The deal closed 64 days after the LOI, with all $80,000 paid by closing.
The Results
The buyer is a first-time owner from the local area. Through Baton's process, the business:
Sold for $80,000, $10,000 above the owner's own estimate
Closed with all $80,000 paid in cash, with no seller note or earnout
Signed an LOI 45 days after listing
What's next for the owner?
The owner sold the business to retire, with a two-month handoff included in the price.
Advice and Lessons for Future Sellers
Push for cash at closing. Asking for more up front turned a $70,000 offer into $80,000.
Answer inquiries fast. A same-day reply to the first serious buyer started the deal that closed.
Put your acceptance in writing. A clear written acceptance of the LOI moved the deal on to a purchase agreement.