Buying a Lawn Doctor franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 7 7(a) loans to buy an existing Lawn Doctor (classified mostly as Landscaping Services), totaling $4.4M. The median loan was $346,500, 46% lower than the $645,250 median for all SBA-financed acquisitions. 1 of these loans were approved in the last two fiscal years.
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What this tells a buyer
- Price range to expect. Loan size tracks purchase price. Half of Lawn Doctor resale loans landed between $219,800 and $782,650.
- Lender experience exists. First Commonwealth Bank alone has financed 2 Lawn Doctor resales.
- Guaranty. The SBA guaranteed 81% of the dollars lent here.
- What the file leaves out. The SBA file does not record franchisor transfer terms or fees.
Financing a Lawn Doctor resale
The median SBA 7(a) loan for a Lawn Doctor resale was $346,500 across 7 loans (FY2018 to FY2026). First Commonwealth Bank, Manufacturers and Traders Trust Company and Town & Country Bank and Trust Company have financed the most Lawn Doctor resales. Too few of these loans are old enough to measure a charge-off rate; the average for all SBA acquisition loans is 3.5%.
Lawn Doctor acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 0 | $0 | - | |
| FY2020 | 0 | $0 | - | |
| FY2021 | 3 | $2.4M | $346,500 | |
| FY2022 | 2 | $440K | $219,800 | |
| FY2023 | 1 | $552K | $552,300 | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 0 | $0 | - | |
| FY2026 | 1 | $1M | $1,013,000 |
How often do these acquisition loans fail?
Fewer than 20 Lawn Doctor acquisition loans are old enough to measure losses reliably, so no charge-off rate is shown. The benchmark across all SBA acquisition loans in the FY2018 to FY2021 cohort is 3.5% by count. Non-acquisition 7(a) loans (every other stated purpose) approved FY2018 to FY2021 charged off at 6.2%.
"Charged off" is the SBA's final loss action on a defaulted loan after collection efforts. It lags default by a year or more, which is why only older cohorts are measured. It is not the same as a delinquency rate, and loans still outstanding can still fail. See charge-off in the glossary.
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Lenders financing Lawn Doctor resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | First Commonwealth Bank | 2 | 28.6% | $397K | |
| 2 | Manufacturers and Traders Trust Company | 1 | 14.3% | $2M | |
| 3 | Town & Country Bank and Trust Company | 1 | 14.3% | $1M | |
| 4 | The Bancorp Bank National Association | 1 | 14.3% | $552K | |
| 5 | Webster Five Cents Savings Bank | 1 | 14.3% | $224K | |
| 6 | First Security Bank | 1 | 14.3% | $216K |
States where Lawn Doctor units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Pennsylvania | 2 | 28.6% | $397K | |
| 2 | Connecticut | 1 | 14.3% | $2M | |
| 3 | Kentucky | 1 | 14.3% | $1M | |
| 4 | New Jersey | 1 | 14.3% | $552K | |
| 5 | Massachusetts | 1 | 14.3% | $224K | |
| 6 | Arkansas | 1 | 14.3% | $216K |
Terms signed in the LOI shape the purchase agreement that follows.
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How lenders classify Lawn Doctor
Lenders code each loan to a NAICS industry. For Lawn Doctor the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Landscaping Services | 6 | 85.7% | $4.2M | |
| 2 | All Other Specialty Trade Contractors | 1 | 14.3% | $216K |
Questions buyers ask
How much do buyers borrow to buy a Lawn Doctor franchise?
The median SBA 7(a) loan for a Lawn Doctor resale was $346,500 across 7 loans (FY2018 to FY2026). The middle half of loans ran from $219,800 to $782,650. The loan excludes the buyer's equity and any seller note and may include working capital, so the price is usually higher than the loan.
Which banks finance Lawn Doctor acquisitions?
First Commonwealth Bank has made the most SBA acquisition loans for Lawn Doctor (2, 29% of the total). Manufacturers and Traders Trust Company, Town & Country Bank and Trust Company, The Bancorp Bank National Association follow.
What interest rate and term do Lawn Doctor acquisition loans carry?
The average initial rate at approval was 5.82% (a blend of fixed and variable loans across several rate environments, so treat it as context, not a quote). The median term was 10 years.
Is a Lawn Doctor resale riskier than other SBA-financed acquisitions?
Too few Lawn Doctor acquisition loans are old enough to measure. The benchmark for all SBA acquisition loans is 3.5% charged off in the FY2018 to FY2021 cohort.
Where are Lawn Doctor units being bought with SBA loans?
Pennsylvania (2), Connecticut (1), Kentucky (1), New Jersey (1), Massachusetts (1). State counts follow where the brand has units and where SBA lending is most active generally; see the state pages for the overall picture.
Seller note standby terms and third-party consents are reviewed before closing.
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Related
- All Landscaping Services acquisitions
- Pennsylvania acquisitions
- Connecticut acquisitions
- Kentucky acquisitions
- First Commonwealth Bank
- Manufacturers and Traders Trust Company
- The Bancorp Bank National Association
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Lawn Doctor" (franchise code S0989). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.