Plumbing the Value of Your Business With a Plumbing Advisor
If you own a plumbing business, then you definitely know the value of your business to a family with a clogged toilet or a customer with an overflowing shower. But when it comes time to think about selling your business, you might be a little unsure about how to get the most out of your business. After all, you spend your time running your company, making sure drains get snaked and sinks get unclogged, and you don’t have time to add a whole new salesman job to your list. A plumbing business advisor or plumbing business broker is professionally trained to value your business and make the sale as easy and profitable for you as possible.
According to Forbes Magazine, only 20-30% of businesses like yours sell once they are on the market, because most business owners do not know the first thing about how to get the most from the sale of their business. But with a plumbing broker on your side, you will be showered with the benefits of a strong sale.
A plumbing business broker or plumbing business advisor understands many facets of a plumbing business sale that will benefit your bottom line.
There are several key ways that a plumbing advisor can assist you.
Appreciate the Value of the Business
In terms of value, there are many intangibles that even business owners might not be aware of when it comes time to sell. As a service industry, a plumbing business takes care of people, and when it comes time to sell, you should call on a plumbing business advisor to take care of you.
We understand the following nuances affecting a sale that you as an owner might not realize:
- How long your crews have been with the company
- How much the owner is actively involved in the daily operations
- Whether the plumbing business has the correct licensing
- Revenues under $1M vs. over $10M
- Current buyer preferences
- Importance of the P&L analysis
- Market trends
Understand the Sale Itself
There are also many nuances when it comes to the sale itself. A plumbing business broker can inform you about how to structure the sale. This includes details like an all-cash deal, an earn-out, or taking back a note. Before you sell your plumbing business, you also need to know if it will be a 100% transfer immediately, or the buyer will move into ownership more gradually. Additionally, the current inventory and equipment will also figure into the sale and must be accounted for. Finally, there are bound to be questions about the real estate part of the business.
Know What Buyers Want
With your successful plumbing business, it is safe to assume that you know what plumbing customers need and want. But can you say the same about people who want to purchase plumbing companies? Probably not. With a specialized plumbing M&A consulting, you will be set up for success for maximum exposure and profit. Important elements include whether the employees are union or non-union, what the company’s digital presence is like, and whether the buyer would prefer a residential or commercial business. Understanding all of these aspects affect the sale of a company.
Discern How to Effectively Market
As a plumbing expert, you undoubtedly understand the best ways to serve your customers with their plumbing needs. But it is wise to know what you don’t know about selling your business, and turn to plumbing M&A consulting so that you can benefit from the professionals when it comes to marketing.
Plumbing advisors will create a clear Teaser page, along with the CIM, the complete confidential information memorandum, to show the complete scope of the daily operations, business, finances, and your company’s potential for growth. The non-disclosure agreement must also be signed so that buyers can make appropriate decisions. With so many details to manage, leave your marketing to a professional plumbing business broker.
Establish A Strong Pool of Buyers
With only 20-30% of businesses on the market making it to a sale, it is even more important that you are able to find a viable pool of buyers for your company. Using a plumbing business broker will gain you a network of buyers that would be extremely difficult to find on your own. The plumbing business broker has already cut through the red tape and done the hard work for you, and has a list of qualified and interested candidates at the ready. This is invaluable for you when it comes time to sell.
Excel at Bids and Negotiations
When it comes to selling your plumbing business, you certainly don’t want to take the first offer that you receive. The more offers you receive, in fact, the more competitive, and this will drive up the price of your company. A trained plumbing advisor or plumbing broker will negotiate on your behalf, and will be able to meet any snags in the process with a wealth of experience. The plumbing business broker can take the emotion out of selling a beloved family business, and gain the best deal possible to meet your bottom line needs.
Follow the Rules
One of the most important reasons for hiring a plumbing business broker is because of the sheer amount of rules and regulations that need to be followed in the sale of a business. The plumbing business broker can do the due diligence, ensuring that all operational, financial, commercial, and legal requirements are met. With plumbing M&A consulting, you will also benefit from a
Manage the Sale and Privacy Issues
It stands to reason that it is difficult to sell your business while you are spending all of your time and energy running your business and meeting the needs of your customers and team. Since sales can take 3-6 months, and you need to keep up the cash flow during this time, then working with a plumbing business advisor will keep the process moving. And with their good communication skills, a plumbing business broker will keep the deal on the down low until you are ready to tell your employees and team. A sale involves countless phone calls, meetings, and emails, and the plumbing broker will alleviate any extra stress for you as they deal with the intricacies of the sale.
With over 400 investing partners ready to look at your plumbing business, Brentwood Growth is the perfect plumbing business advisor with seller side loyalty.
Let us earn your trust with our hard work. We don’t get paid unless we make a successful sale.
Contact us today to find the right plumbing advisor for a seamless sales transition for your business.
Why Work With Brentwood Growth
Access to Buyers
Over 400 private equity firms and consolidators that are actively looking to purchase.
Confidentiality
Ensure the sale of your business remains confidential to avoid disruptions for you.
Industry Expertise
More than 20 acquisitions with transactions from $80 million with an average of $4 million.
Valuation
Learn the value of your business and receive support with pricing to the market.
Negotiation
As your mediator, we work with you and the buyers to make sure both parties are satisfied.
Experience
Lead by a team with 75+ years of experience. Our experience ensures a smooth experience.
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