How can an HVAC business owner tell if a broker fits their interests?
While you’ve made the momentous decision to hand over the reins to your business, it can feel like you’re handing over your child. You don’t entrust its wellbeing and care to anyone. It’s crucial to select an HVAC business broker that fits your interests. But how do you know who will represent you and your business the best for you? These business brokers give some helpful tips for selecting the right broker for your goals.
They will take their time with you and genuinely listen to your goals and what you hope to achieve by selling your business.
They will also be very honest with you about expectations and evaluations related to what they know about the current market. You’ve likely spent years of time and money building your business, so having someone honor that effort and be frank about the process is crucial.
Sugar-coating doesn’t serve anyone in a business-broker relationship.
Trust is the foundation of any great broker-and-business-owner relationship.
Selling Experience, Industry Knowledge, and Chemistry
More than one method exists for an HVAC owner to determine which professional business broker to use when selling their company. Several key characteristics should be considered to determine if a broker fits their interest, starting with the broker’s knowledge of HVAC companies. Having sold three HVAC companies, this perspective comes from experience in working closely with HVAC sellers.
In addition to the “selling experience” factor, the “chemistry” between the seller and broker must be positive and cooperative. The seller will quickly determine if a broker understands the HVAC business, making the broker’s “industry knowledge” another important consideration.
Another key factor is how many HVAC or similar businesses, such as an electrical contractor or a plumbing business, the broker has sold. This information is highly telling!