Exit Strategy

Selling a service contracting business

Selling your business is, for many, a once in a lifetime event. Having someone on your side who has the transactional experience will ensure that your transaction is successfully completed. Businesses that fail to prepare an exit strategy are 10X more likely to be paid LESS than fair market value when they sell their business. Putting together a simple plan even as little as a year out (in some cases) is all that is required in order to receive significantly better terms when selling your business. Consider contacting Brandon Jacob to discuss how he can assist you develop an exit strategy plan.

Exit Strategy

Selling a service contracting business is hard. It isn’t that these businesses do not have value, it is because the existence of willing and qualified buyers have been a consistent rarity over the course of recent history. Today, buyers exist and they are more plentiful than ever before. Multi-millions of dollars have been made by service contractors who have built and successfully sold profitable and well operated air conditioning and plumbing businesses to investors, private equity groups, individuals, corporations, family members, employees and consolidators. During the course of my 20 plus years consulting with business owner like you, I have participated in business sales to every type of buyer.
Today there is more buying activity than ever before, but the only way to sell your business for fair market value or higher is to properly plan your exit strategy. An exit strategy starts with the understanding of your businesses existing value and this in-turn defines what steps must be taken to address the items that require attention and ultimately guarantees that you are to receive the value you expect from the sale of your business.

On-Site Exit Strategy

For many business owners, there are many questions regarding selling their business, regardless as to who they plan to sell the business to. Questions range from personal (am I ready to sell?) to technical (what goes into the process?). Over the years I have discovered that a significant amount of questions can be answered via a one-day consultation. If you have considered selling your business, but do not know where to start, consider a one-day consultation which will help you understand:
  • Clearly define and establish the reasons for selling your business.
  • Discuss reasonable time frames.
  • Confidentiality. Discuss your concerns and the reality.
  • Discuss thoughts on who is the right buyer for your business.
  • Discuss how do you expect your employees to be treated after the sale.
  • Discuss existing managers and the key managers transition with buyer.
  • Valuation philosophies and what builds value within your business.
  • Business presentation and how to present your business to maximize value.
  • Due diligence. What does due diligence mean, what to expect, how to prepare and how to successfully navigate through it.
  • Discuss your professional team and how and when to effectively utilize them.
  • Employees notification. Discuss thoughts on when and how to notify your employs of transaction.
  • General discussion on your plans to reward key employees.
  • Discussion on thoughts to stay or go subsequent to the sale.
  • Discuss and understand the time-line associated with a business transaction.
  • How to manage seller’s emotions.
Your service contracting business is vital to you and your family. Not only does it provide income, it is part of your identity. As important as your business is, the thought of one-day selling it can lead to more questions than answers. If you have yet to go through the process of selling a business before, it is understandable that the unknowns are concerning. That is why you should rely upon the experience and advice of someone who has dedicated a quarter of a century to assisting owners of service contracting businesses preparing their businesses and ultimately selling.

20+ Years Of Experience In Business Valuations

Know exactly how much your business is worth now and in the future.

Contact Brandon Jacob, CPA

On-site Exit Strategy FAQ’s

Who could capitalize on this program?
Any business owner regardless of the size of the business who is considering the sale of his or her business in the near future or someone who is actively in the process of selling their business.
What if I am selling to an employee or family member?
Just as important and relevant as selling to a third party, the knowledge and understanding of what you will take away from an on-site will ensure success regardless of who is buying your business.
I plan on using a local business broker and my own CPA to assist in my transaction, do I need an on-site?

Selling a business for many is a once in a life time event and there are no do overs.  Your needs may such that you already have a local team, but isn’t something so important as selling yoru business worth the extra horsepower of someone who has been the not only the valuation process, but the sale process numerous times.  Consider my expertise, regardless of who ultimately helps you sell your business.

I am not planning on selling my business for several years, why do I need this insight today?

The on-site program has been created to not only deliver key information, but to also serve as an information gathering exercise that will serve as a punch list for what you can do to increase the value of your business whether a sale of your business is two, three or five years away.

I don’t know the value of my business, is a valuation part of the on-site?

The on-site does not include a formal valuation, but more importantly I will help you understand what drives the value of your business, unlock some tribal lore that you should avoid and the theories behind real valuation.  It is though these discussions you will have a reasonable range of value after our meeting. 

Is an on-site intrusive to my business?

No, the on-site consultation is designed to be 100% low-key and in the interest of confidentiality, the meeting can be held off site. Your concerns for confidentiality not only within your business, but beyond the walls of your building are taken with extreme seriousness.

 

Get the Confidential Advice You Need

You don’t have to plan for the future alone.

Take the next step and call today.

Brandon Jacob has helped thousands of service contractors plan their next steps

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