Jean-Eric Plamondon was in the scrap metal business where the stereotypical operator is a shady character buying metal by the ton with a blow torch in one hand and a wad of cash in the other.
Plamondon decided he wanted to do scrap metal differently and discovered farmers were keen to clean up their land. Plamondon offered a full-service clean up wherein a crew would tidy up a farm and dispose of all of the excess waste — including the valuable scrap metal. Plamondon got so good that he was buying farmers’ metal for as little as $3 a ton and was turning around and selling it to a smelter for more than $100 a ton.
It was a license to print money, which is why, when Jean-Eric decided to get out, he was able to sell the business to his employees. In this episode, you’ll discover:
• How to re-position your company to eliminate competitors
• Where to go for advice when you feel overwhelmed
• Why possession is 9/10ths of the law in any negotiation
• The difference between a justice system and a legal system and what this means for your relationship with partners
• How to systematize your business
• What a vendor take-back is and what it means to the value of your company
If you’re interested in improving the value of your business, take our questionnaire or contact Colonial Business Brokerage today at 443-982-7332.