Top 10 problems when buying a pool route business
10. The seller and broker do not tell buyer(s) the truth about obtaining a contractors license which has been MANDATORY for all persons cleaning a swimming pool in Florida since 1971.
9. Please verify all of the payment histories of every customer before buying the route
8. Make a visual inspection of EVERY customer before buying the route
7. The term "I am, or my company is working under someone's license" is a felony and is only true when the person is an EMPLOYEE of a licensed contractor. Verify the sellers Contractors License here all county pool licensed MUST show up here to be valid !
6. The seller and buyer make no arrangements prior to closing to ensure the new business entity is licensed.
5. Obtaining Workers Compensation Insurance or an exemption for 3 corporate officers.
4. getting the right coverage of insurance $300,000 for county contractors, or $100,000 for a State contractor. *** some commercial accounts may require a higher liability and special coverages. this must be covered BEFORE closing !
3. drive with someone in the pool industry for a few days to see if this is the right type of work from a NEUTRAL party before making an offer. I provide that to all buyers
2. Verify the Broker is licensed in the State of Florida Verify the Brokers License here
1. Perform a Google search on all parties involved in the transaction. Broker, seller, ect. Who are you REALLY dealing with?