How to Sell My HVAC Company in VA
Selling your HVAC company in VA is a stressful process.
When you’re looking for the best way to sell your business, you need a carefully crafted process to allow you to get the maximum value for your heating, air and plumbing company. Otherwise, you could be underselling yourself and potentially losing out on thousands of dollars. Or, you could spend all of your time, effort, and money on marketing efforts that don’t quite work and deals that fall through.
As VA HVAC brokers, we can help. Our team has years of experience selling companies just like yours all over Virginia. You can trust us because we know what it takes to succeed!
Here are four steps on how to sell your HVAC business in VA.
Step One: Create a Finance Report
What’s the one thing you want to know when you buy a business? Will it make me money! So, it would be best if you showed potential buyers that your HVAC business is a sound investment. The best way to do that is with a finance report.
Your report should cover:
- The monthly sales your HVAC business makes
- The profits
- The growth expectations
- Number of recurring customers
The last point is an incredibly important one. Loyal customers mean two things for potential buyers:
- They make for predictable profits and scalable cash flow for your business
- They mean your business model works
Even before you put your HVAC company up for sale in VA, your first step is to draft up your financial report. Call your accountant and ask them to draft a report for you. If you or your accountant has access to a designer or a marketing professional, you can ask them to create a slide deck for you. The better you present yourself and your company, the better your sales pitch will be.
Step two: Know the prices of other HVAC businesses for sale in VA
You’ll want to know what your competitor HVAC companies are pricing themselves at to understand where you sit in the market. Survey the competition but keep in mind the variables that will affect the worth of your business. Some of these are:
- Size (number of employees)
- Reputation and time in operation
- Profitability and cash flow
- Equipment and other assets
Search websites like BizBuySell or BizQuest and try to find other HVAC companies for sale in VA that look a little like yours. Even though you may see a lot of competitors, the good news is that there will always be a demand for HVAC companies in Virginia because of the extreme drops and rises in temperature we face.
Step three: Make sure you have a trusted, licensed employee on your team
You can’t sell your HVAC organization without an HVAC license! Many buyers in the HVAC industry aren’t licensed, and they will expect someone in your business to be. They don’t want to spend time or money getting themselves a license to operate your HVAC company.
Don’t miss out on potential sales with this small mistake! Reassuring potential buyers that there is someone licensed on your team to take over can be a persuasive selling point, especially for the more hands-off investors.
Step Four: Find a HVAC broker in VA
The only way you can be sure to sell your HVAC company for a fair and competitive price is to find a HVAC broker—someone who not only knows your business, but knows how to sell your business.
You’ve made your company what it is today. Don’t let that hard work go to waste with a sale that doesn’t do it justice.
We can help. Contact us today!