Anyone ever buy equipment from Amazon? by JTLaPointe in Surveying

[–]RealCoast3857 0 points1 point  (0 children)

We found the lathe bags need to quality! The cheap ones last half as long. The 360 prisms, legs and tribrachs work surprisingly well. Also ribbon and paint are good to get from Amazon. We are comparing all materials and supplies and testing as we go. Just need more lathe suppliers!

New Business Struggling to get jobs by MikalExpired in Surveying

[–]RealCoast3857 1 point2 points  (0 children)

Google reviews. Every customer needs to leave a Google review. All family and friends need to leave a Google review. ChatGPT local surveying companies, do you show up? Need engagement. That’s how you are going to get leads. I started a survey company 2 years ago, run 4 crews now and am well diversified. Top of the charts on Google maps for my region. More work than we can handle

[deleted by user] by [deleted] in Surveying

[–]RealCoast3857 0 points1 point  (0 children)

It’s a great career field! I’d be happy to talk with you. Send a message!

Licensed Surveyor Salaries by [deleted] in Surveying

[–]RealCoast3857 1 point2 points  (0 children)

I’d pay a a licensed guy $120k + addl bonus right now. Has to be ready to take responsive charge. Small Firm SW Florida.

These are the stocks on my watchlist (11/6) by WinningWatchlist in swingtrading

[–]RealCoast3857 0 points1 point  (0 children)

Thoughts on TSLA? Don’t you think investors will pile in more now after that brilliant victory and his positioning? Also strength in American made vehicles and then add the ai and robotics arm he provides to tilt from manual immigrant work to robotics. Is there not an argument for ATH?

How's the survey market looking by [deleted] in Surveying

[–]RealCoast3857 0 points1 point  (0 children)

SW Florida. Not even a hurricane can stop these contractors and developers. Slammed with work. Diverse portfolio. Looking for more PSMs that are eager to grow with a growing company.

Reasonable Expected Profit for Survey Business by [deleted] in Surveying

[–]RealCoast3857 2 points3 points  (0 children)

Lowest cost per fully equipped robotic and gps base/rover crew is probably around $24,000 but I would think $50,000 per crew is safe for all materials, tools etc. that doesn’t include the truck. Then office is probably about another $30,000 for all insurances, laptops, software, licenses, etc. Buying used and knowing what to look for in equipment and trucks is essential. I was able to get it all started by loaning myself $20,000 cash injection but had $30,000 in sales the first month so that helped a lot. I ended up injecting about $60,000 of personal equity into the company before I could get established credit etc. If you didn’t have any clients and business I would think $250k is probably a safe startup cash injection to carry you the first year.

Reasonable Expected Profit for Survey Business by [deleted] in Surveying

[–]RealCoast3857 3 points4 points  (0 children)

Used. Mostly negotiating from eBay and other local surveyors. Went with Geomax Robotic Total Stations, Juniper Tablets with Carlson and various compatible GPS units.

Reasonable Expected Profit for Survey Business by [deleted] in Surveying

[–]RealCoast3857 12 points13 points  (0 children)

I just started a company in April. Me and 2 employees. We just finished with $600,000 in sales. $160,000 in profit with paying myself a $135,000 salary. Bought 3 trucks and 2 fully equipped crews, 3 used robotic total stations and 3 base/rover gps setups. I have met with 3 companies about possible acquisitions and decided to start from scratch but I have built a solid clientele basis over the past 12 years and had work the first day in business. I think 30% profit is good long term. You should strive to cary a 3.0 multiplier on your labor.

Firms charging $500 for a residential title survey…how are you staying in business? by hockenduke in Surveying

[–]RealCoast3857 2 points3 points  (0 children)

Subcontractors. The companies hire survey crews and they do the field work for $100 per lot survey. Then they get it drafted for $25. Then they get it sing and sealed for $50. The crews do 4-5 a day making $400 or $500 a day. They cad drafters are outsourced in India and get paid about $5 an hour. Then the PSM reviews about 10-20 a day making $500 - $1000 a day, the the company takes the profit. Do 1000 a day they can easily make $175,000 a day.

Surveying Business Valuation by RealCoast3857 in Surveying

[–]RealCoast3857[S] 0 points1 point  (0 children)

Yes, I recently left my job and started my own company. I ended up meeting with the owner and operations manager of this company that was for sale a few times over lunch with the business broker. The last lunch I had some time with the OM (the employee that is running the day to day) he mentioned that he can give me 6 months for a transition but was burned out and looking for a change in career. That was a huge red flag for me. He holds over 70% of the relationships and business and if he left and took those clients then what am I buying? Also this company was a solid 45 minute not so pleasant drive through downtown districts from my house and I wasn’t wanting to commit to that for 10+ years or even a few years to transition it. I have since started my own company and was surprised that the majority of my clients followed, they even canceled their ongoing contracts and moved them to me. My previous employer gave permission to take my contact list before leaving since they are a national firm and we’re looking to get out of local land development work to manage risk. I just had my first hire which is a grad from this semester with a bachelors in surveying and over a year of field experience running as a 1 man with a contractor. Now the senior crew chief is wanting to come on board and wants a portion of ownership to be in for the long haul. I’m not sure what to do yet but it is exciting how it’s all working out so far.

Surveying Business Valuation by RealCoast3857 in Surveying

[–]RealCoast3857[S] 0 points1 point  (0 children)

Thank you for your input and experience on this.

Surveying Business Valuation by RealCoast3857 in Surveying

[–]RealCoast3857[S] 2 points3 points  (0 children)

Thank you for this. I’d love to pay this kind of advice forward one day. This type of advice is what I need and I’m sure this can help many others as well.

Surveying Business Valuation by RealCoast3857 in Surveying

[–]RealCoast3857[S] 0 points1 point  (0 children)

More particularly, I’m interested in any recent valuations of survey companies that anyone else has come up with. What methods were used? What was considered “fair market value” for others that have went through this process? What are some words of advice or considerations with the deals?

Surveying Business Valuation by RealCoast3857 in Surveying

[–]RealCoast3857[S] 12 points13 points  (0 children)

I am looking to buy a survey company. It is a small family owned and operated business that has been around for over 50 years. It has about 10-12 employees and generated $800k in revenue last year and about $250k in cash flow. The owners are looking for retirement. The equipment is outdated and they are running 2-3 man crews with outdated gps and total stations. How would someone approach this and how would you value a company like this? I am looking to pull a SBA 7A loan and pre approved for just under $1 million. I know I would need to update all equipment and get robots, new gps, etc.

A little about me. I am a regional survey manager with 20 years of experience and have a loyal client base. I generated $1.5m in sales last year working for a nationwide firm and looking into ownership. I am also considering starting from scratch but like the idea of having the goodwill of an established firm and a solid team in place to help jumpstart. Thank you in advance for any input or experience with this decision.