Thanks for the comments and alot of valid points.
I met him this evening and had a 3 hour chat, I get the impression this was a last minute thought for him, having his clients looked after and making some money from it, this puts me in a strong negotiating position. All his appointments for the last 18 months were in two very used notebooks, he has almost finished putting them onto a spreadsheet, between Feb 09 and Aug 10, he earnt £11,000. Alot less than the £18,000 he initially claimed. It appears 1/3rd he has been to twice and their are a dozen that he's done work for 3-4 times this year and he has one business on his books. If I take his client base on he insists that he introduces me to his regulars and the one business he has + 3 he terms as "special" clients
I do see value in his client base and I see alot of value in his trading name, it is established and known in my local town and a nearby city, which he regulary advertises in.
The company name he uses is not registered in our locality, I have checked the national business register, the same business name has been registered in 66 locations in the UK, as he has never registered it in my locality there is no reason why I could not register that name and use it myself, he will no longer be around to trade under that name, generally I am not the scrupulous type and view that as un-ethical.
I doubt he can find anyone else in the area he could "sell" this to, especially with short notice, he is leaving the UK Dec 28th.
His business name says it all (cough cough)! Easy to capitalise on, and is more to the point it really says it all, better than my current business name.
His client base is also something I can capitalise on.
He is a mobile tech, no store front, like me. When he goes I will be the only one localy advertising, logic dictates I would get the work.
My options as I see it;
Register the business name he uses, no one else in the vicinity can then use that name, and start trading under that name-capitalising on his reputation,
possibly running the risk of alienating his current clients and future clients, (word of mouth). Un-ethical and un-proffesional.
Or pay him a fair sum for his client base and the use of his trading name, then register that trading name protecting my investment.
I did offer him a percentage of 10-12.5% of any earnings from his client base as suggested by "call that girl", that is obviously based on alot of trust, I told him that this side of xmas I cannot lay my hands on £2500, he did ask how much I could obtain in cash, I replied £1200, he said he would be prepared to take £1200 and have the balance paid over 12 months on a quarterly basis.
Being with this guy for 3 hours I have learnt alot about his price structure, for the few clients I have had so far I got it wrong! My perception of what people are prepared to pay was so wrong. That information itself has
value. As I write this my head is working overtime.
I have worked in security and loss prevention for several years and had a lot of training in interview techniques and interrogation, and I told him so, whenever I thought he was "embellishing" I told him so and he came clean.
I guess what I am looking for here is re-assurance, my wife is my safety net, but she she borders sceptic with paranoia, and struggles to see anything logical.
I have spent £600 on ads in 3 months and got 2 jobs-value= £175+ I spent £1200 on 4'x3' poster in a local shopping centre running for 2 yrs no response as yet.
Whisky is now kicking in! Alot to think about, I have to give him a desicion by this sat, i don't think he will find anyone else, and I can, not a word I like "screw him down", but hey, business is business, but I want to be fair.
I am a "rule and book man" and honesty and integrity is high on my personal traits.
