We have several articles on how to sell a business, and in this article we apply many of our business selling principles to a specific type of business; selling an HVAC business. Trades businesses are just as much relational as they are transactional. You’re both selling products with warranties, as well as warrantying your workmanship. If messaging around the sale is sub-optimal it can lead to concern over the longterm stability or honoring of past warrantied work for existing customers, which can impact revenue at a crucial point of the transaction.
Confidentiality is extremely crucial when selling your HVAC business for the following reasons:
As with any sellable business, your objective is to gain the interest of an appropriate buyer. HVAC is a highly-specialized industry, and while wasting time and resources marketing to the wrong audience is a poor decision, ultimately selling to the wrong buyer who doesn’t have a solid understanding of the industry or operation of an HVAC business is much worse for the brand and customers. If not for any other reason, laser-targeted marketing should be enough to engage a business broker with experience marketing and selling trades businesses.
When working with a business broker, you’ll receive key benefits that will help you more efficiently find the right buyer and maximize your deal. Benefits of engaging a broker include:
After reading this overview, you may still have questions on whether it’s time, what your business is worth, or where to begin. Our business advisors are available to schedule a free confidential consultation to discuss your business and a potential sale.