http://www.bizjournals.com/charlotte/print-edition/2012/12/14/fertile-territory-for-growth.html
Strategies for Building a Business
Fertile territory for growth
Charlotte Business Journal by Bea Quirk, Contributing writer
Date: Friday, December 14, 2012, 6:00am EST - Last Modified: Thursday, December 13, 2012, 8:58am ESTPhilip Coblenz used both his heart and head when he decided to purchase Overstream Landscaping & Irrigation. After 10 years working in management for his family’s janitorial business, Coblenz felt it was time to go out on his own.
He hired a business broker to help him find the right fit. It took about six months for Coblenz to decide on Overstream, a 17-year-old Matthews company that provides landscaping services. The company also designs and builds hardscape features, irrigation and lighting systems and pools.
Coblenz wanted to buy a business where the numbers made sense and also had opportunities for growth. That’s why he turned to an attorney, accountant and investment adviser to conduct due diligence.
But a more subjective factor came first: “I wanted something I would enjoy doing every day,” he says.
Coblenz has continued an Overstream practice that’s uncommon in the landscaping business: He keeps his 23 workers on staff year-round instead of using contract labor. “That sets us apart,” Coblenz says. “We don’t rely on outsiders, so we can control the quality of the work, the kinds of materials used and timing.”
The staff has been busy even in the heart of the recession, and the last two years have been “very good,” says Coblenz , 42.
He also made contact with as many customers as possible. Repeat business and referrals have been the company’s greatest source of revenue.
Coblenz took over in April. The previous owner, Bill Zemak, stayed on until Nov. 30 and helped ease the learning curve. The management team and staff also helped with the transition. Says Coblenz : “The people working here were a big draw in my decision to buy. I know I can trust and rely on them.”
