They were down to 4 and a ductmobile, but they went bust.....( lowball scumsuckers). Gonna have a visit at this one
http://www.marvelauctions.ca/auction_details.php?id=00216
http://www.marvelauctions.ca/auction_details.php?id=00216
You got it Richard- definitely only as good as the last job we do for someone.
Mike, we do not have anywhere near 40 crews, but if we did they would all be top notch as our 20 something are today. They don't get the promotion to run a crew unless they have proven themselves over a few years and many thousands of jobs.
Ken
Ps. Modernistic is a fine competitor and I consider Bob McDonald a business friend. I have never said anything negative about him or his company nor have I ever heard of him or his employees saying negative things about us. Neither of us does business that way.
Willy they looked like they had nice equipment & trucks, they either had deep pockets or were doing something right for a while.![]()
Sad, mismanagment and a lousy business model are extradenarily expensive.
Randy created a new word too.
that was Robinson!
But hey I hear he is pretty good at it!![]()
For every "big " outfit like this that hits the skids and slides into bankruptcy there are probably 50-75 owner/operators that arrive at the same place just without being noticed. The average carpet cleaning operation (statisically speaking) is a couple of guys and two trucks. They just assimilate into the 25% annual turn over of carpet cleaning companies. Every year for like forever that has been the average, 25% are newbies and 25% just went out of business in one form or other. This business must have been down & out enough for it to just be an asset liquidation. Sad, mismanagment and a lousy business model are extradenarily expensive.
You wonder how long they existed operating off cash flow, equipment leases and lines of credit without ever really making a profit. Recently we bought out a small operation (nail & hair salon) that had 34 full time employees and was in operation 8 years. Here is the shocker: $256,000 in cumulated tax losses. We can write that off over as long as 20 years against income from other enterprises. Even with the owners skimming (I'm guessing she was hauling between $40,0000 to $80,000 in cash out the back door from what I can see thus far) I'm left wondering how and why this operation stayed afloat as long as it did.
Carpet cleaning stats based on research from Craig Jasper's research as presented in his seminar training.