I've documented elsewhere that I'm consciously trying to expand my business this year, adding a couple of guys to take on projects I didn't have time to do. They're working out well, they're slowly ramping up revenue/income from their projects, customers appear to be happy with their work, so I'm happy (and relieved!). We have other developers ready to start working with that team when we get more projects for them, so we have bandwidth, but haven't been moving fast to add more projects until we are sure we have our processes down pat.
And then yesterday I got an offer in the mail to buy another small consulting firm in my area. Revenue appears to run from $300-400K, income appears to be around $100-130K, so it's either one or two people working at this company. Government agencies make up 75% of the business, the rest is SMBs.
And that got me thinking...
Is it a good idea for me to take on a small consulting firm's book of business and what would I pay for it? What do I need to know?
And then yesterday I got an offer in the mail to buy another small consulting firm in my area. Revenue appears to run from $300-400K, income appears to be around $100-130K, so it's either one or two people working at this company. Government agencies make up 75% of the business, the rest is SMBs.
And that got me thinking...
Is it a good idea for me to take on a small consulting firm's book of business and what would I pay for it? What do I need to know?
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