• The market: Landscaping & lawn care • The customers: Commercial + residential in a fast-growing US city Here’s what caught my eye 👇 If you’re interested in boring businesses that print cash, this one is worth a look. This is a full-service landscaping company that’s been operating for over 30 years, serving both businesses and homeowners. Not a small operator. This is a serious local platform. What makes it interesting? It’s a one-stop shop: • Lawn maintenance • Landscaping projects • Sprinklers • Fertilizing & weed control • Snow removal • Seasonal services Most competitors only do 1–2 of these. This one does everything. Customer base is very strong: • ~2,000 active customers • Avg revenue per customer ≈ $2,000 • 75% commercial / 25% residential • ~90% recurring revenue • Retention above 90% on contracts That’s rare in home services. Let’s talk numbers (high level): • TTM revenue: ~$6.3M • TTM earnings: ~$1.55M • Asking price: $5.6M • Multiple: ~3.6x • Includes $3M+ in equipment • SBA eligible For this size and quality, pricing is reasonable. What I really like: • Customers on waitlist (business is turning work away) • Pricing is in top 20% of market — still full • No big customer concentration • Strong local brand & reputation • High recurring contracts Demand > capacity. Always a good sign. Operations look solid: • 33 full-time employees • 2 General Managers • Owner works ~10–15 hrs/week • Day-to-day already delegated • Team aware of sale and willing to stay This is close to semi-absentee. Why hasn’t it scaled faster? Not because of demand. Main limits today: • Number of crews • Limited digital marketing • Mostly referral-based growth All fixable. Where I see upside: • Add more crews to absorb waitlist demand • Expand slightly outside current city • Improve digital marketing (SEO + paid) • Push higher-margin services harder This is not financial engineering. It’s operational growth. Important note on payroll: There was a labor law change recently that caused a short-term payroll spike.