LLC or S corp?

[77401]

Not being a smart ass, but....Ok Maybe I am.
But who puts a value of 13 million on it? Did he sell it for $13 million?
Or did he tell you its worth 13 Million?
How do I value my business?
WHat multiplier do I put on the net profit or gross sales.
I (bizness)have never had a net profit as I keep sucking all the money out as it comes in.

 

[wireman3736]

Well, my employer started from nothing and ended up with a business valued at 13 million dollars. At my young age of 24 anything is possible with enough time, effort, and ambition, I am determined to make a decent lifestyle for my wife and I and this is the best way for me to do so, it wont happen when I keep working for the "man"

I believe that if you put long hours in and you are dedicated to running your own business, you do quality work at a decent price there's no reason that you cant build a good business for the future, and yes you can make allot of money IMO, Then you can get more time to play, You being 24 you have a good start at a young age, I just went in to business for myself 3 years ago at 45. I should have started earlier but didn't have the guts to give up the weekly wage and bennies that I received, I miss my 4 weeks vacation and cheap health insurance but I usually have work just by word of mouth. I admit theres allot more looking, figuring and other paper work involved (especially if you don't get the job)that you have to deal with but being your own man is very rewarding when those good jobs do come your way, You get out of it what you put into it, as you get older the ol bones do start to ache in places they didn't ache before, I may have to hire me a boy in the future.

 

[JohnME]

It was for sale for 13 million dollars, word has it that it was just sold this past month.

As far as getting rich, I have my goals but I know luck has a lot to do with the whole thing as well, or so im told. We will see what happens, I just know ive gotta break loose before we have any kids. Thanks guys for your comments.

 

[George Stolz]

Yup, that is what most of us thought, when we were working for a contractor, then after we jumped in, most of us learned real fast, that the boss was not making all that money, and he was far from wealthy...

Yep, some of the poorest guys I know drive these...

 

[satcom]

The kid up the street has a truck like that, he delivers pizza, and unloads trucks part time, at the supermarket, not what you call wealth.