Do you need help to sell your HVAC company in Georgia?
Read this article to find out 4 easy steps you should follow before making any business deals for HVAC in the state!
1. Review your financials and put together a summary
Any good businessman will tell you that to sell a company, you have to show its sales numbers.
So, before you announce that your HVAC company in Georgia is for sale, draft up a finance report with the following numbers:
- Annual Sales
- Annual Profits
- Recurring customers with maintenance agreements
- Potential customer base
- Growth expectations
All this data will convince a buyer that your company is healthy and a promising investment.
Ask your accountant to get the sales and profits data for you — for data on customers, you can ask your sales team or review your CRM.
And instead of simply sending the report by email, we recommend you book a meeting to make your sales pitch.
It’s much easier to convince a buyer when you showcase your company through slides and a conversation rather than running through numbers on a PDF. You also do not want to send your confidential information to someone who can share it with others.
2. Take a look at the current pricing of HVAC companies for sale in Georgia
If you want to sell your HVAC company in Georgia, then you have to check out local listings.
Websites such as BizBuySell or BizQuest are a great place to start. Just search for “HVAC company Georgia” on their website and take a look at the listings.
You should aim for a similar price, considering the size, reputation, and potential growth of your company. Please keep in mind that just because they are listed for a certain price, does not mean it will sell there, so be realistic as you are reviewing the other listings.
Keep in mind that while Georgia isn’t the hottest state in the US for HVAC, it’s still a big industry with 9,970 workers according to The Bureau of Labor Statistics (2019).
3. License at least one professional at your HVAC company before you try to sell
HVAC companies require licensed professionals to bid, contract, install or repair HVAC equipment.
That means if you’re the only licensed professional in your company, make sure to license someone else fast!
In Georgia, licenses can be obtained through the State Construction Industry Licensing Board and it’s important that at least one member of your staff has one.
After all, once you sell the company, you’ll probably leave. And any potential buyer wants to acquire a company that’s ready to roll and not spend time having to get a license.
So, get at least one employee of trust licensed before you try to sell your HVAC company.
4. Get in touch with a Georgia HVAC broker
If you wish to sell your HVAC company quickly for the price it deserves, hire an HVAC broker.
A specialized broker has a network of potential buyers and will make sure your HVAC company fetches the price it deserves.
So, instead of doing guesswork or spending time scouring through online listings, get in touch now with an HVAC broker to sell your company in Georgia.
Call us today!