Prior to the pandemic, the construction and restoration industry saw several solid years of growth. Those companies were primarily run by long-tenured leadership as this 2019 survey points out, with 68% of them run by the same ownership for at least a decade. Like many other industries, restoration and remodeling is also seeing an increase in mergers and acquisitions as owners look to sell their business to fund retirement or other business plans.
At Alliant Capital Advisors, we specialize in helping business owners successfully sell their business. In our decades of experience, we have successfully sold businesses of all sizes in all industries, including restoration.
Even in an uncertain economy like we’ve seen this past year, there are always potential buyers. For restoration company owners who want to sell, we suggest paying attention to these three things to make your business more attractive:
Enhance Curb Appeal
How attractive is your business to potential buyers currently? It’s true that the pandemic has slowed many industries but construction and restoration have already started to bounce back. Showcase your business assets, your books, client list, and any unique services you offer clients.
Know Your Opinion of Value
While it’s important to have great curb appeal, potential buyers also want to know the true value of your business. Catalog all equipment owned by the business and any applicable warranty information, service records, or storage facility fees. Review your books and get a professional Opinion Of Value for your business. This will help you determine acceptable offers so that you are paid what your company is truly worth. Contact one of our expert business consultants for a free, confidential Opinion of Value.
Keep It Confidential
When listing your business, prioritize confidentiality. This will keep your business working while you entertain buyers and negotiate terms. This is also why most business owners choose to work with a business broker when selling their company. Experienced business brokers market your business to potential buyers confidentially. While it may sound counter-intuitive to keep the exit plan private, here’s what confidentiality means and why it matters.
At Alliant Capital Advisors, our only business is selling your business confidentially. We also don’t collect any fees until after the deal closes, which allows you to continue to focus on running your business until closing.
If you’re looking to successfully sell your restoration company, contact us today. Our experts are ready to provide a free market value for your business.