How to Valuate & Sell a Renovation Company with a Business Broker
The home renovation industry has grown significantly over the past decade. More and more homeowners are content to stay in their current home and renovate, rather than sell. With some much potential profits in this industry, it’s no surprise there are many businesses and investors interested in top-performing renovation companies with a strong client base. If you are an up and coming company that is making a name for itself, or you’re an established home renovation company it is worth spending some time looking into your sale options.
At Beacon, our expert team can help you get your business ready to sell, perform an accurate business valuation, and ensure you get the best value when selling your company. We want to help you sell your company quickly and maximize profits.
How To Get Your Renovation Company In Order Before Selling
Before you list your renovation company for sale, even if you are an industry leader, you need to do some housekeeping and get things in order.
- Get your financials in order: All companies that plan to sell need to get their books in order. Strong financials is one of the most important selling points. If your financials are a mess, you could have a more challenging time generating interest.
- Be profitable: Your renovation company needs to be able to show a profit in order to attract buyers. After all, what you are selling is profits and earning potential.
- Have a strong marketing plan: A strong local and online presence is a must today. Does your business have an up-to-date website, strong social media presence, and strong local search presence? All local renovation companies should. Work on generating strong customer reviews to build up your online reputation.
- Get the team in order: Who are the key people who will be staying on with the company after the sale? How many members of the management team? Being able to provide an experienced team that knows the clientele and business operations is an important selling point.
- Systematize your company: Having systems and processes make it easier to manage your company. Do you have a scheduling system? How do you order supplies? How do you invoice and collect funds? You need to make it easy for business buyers to take over operations. Well defined business systems can do this.
- Get your equipment and assets in order: Ensure all your equipment and business assets are up to date and accounted for when selling. Being able to provide top quality equipment and other assets will make your company more attractive.
- Line up new work with repeat customers: Just because you are selling doesn’t mean you should stop booking new work. In fact, it’s an opportunity. Continue business as usual. It’s important to show prospective buyers a strong forecast of future business.
- Assess marketing conditions: Current marketing conditions matter. When you sell is a very strategic decision. If you wait too long or a recession is projected, it could hurt your ability to attract buyers and command top dollar.
These are all things that will help you make your company more attractive to potential buyers. It is also important to get a business valuation to ensure you set the right asking price.
Get A Business Valuation For Your Renovation Company
How much do you plan to sell your company? This can be a complicated question to answer. It’s also a question that should be considered by a professional business broker. Business brokers can provide you with an accurate business valuation.
At Beacon, we do much more than business valuations. We specialize in all aspects of the sale of your business. We can advise you on all steps required to sell your renovation company. We work with you directly to create a detailed plan to sell or merge your company. We leave no stone unturned. Our goal is to help you get the best possible return on your investment.
Sell Your Renovation Business With Beacon
Are you thinking about getting out of the renovation business? Is it time to retire or move onto another challenge? But, not sure where to start? Contact us today to start the process of selling your company. Our expert business brokers have helped many business owners just like you create an effective strategy to position your company strong and sell for top dollar. Selling your company can be easier than you think when you have a business broker on your side!