When you’re ready to sell your roofing company, it can take careful planning to get the best price. But, planning can pose a challenge when you’re busy out doing the job day in and day out. While caught in the daily shuffle of work, you might not stop to think about what to do with your roofing business when you’re ready to move on to something new.
By working with a business broker to sell their roofing company, roofing business owners do themselves the favor of figuring out the details to get the best deal possible, without sacrificing their day-to-day output.
Your broker should always work alongside your CPA, attorney, banker, and financial planner to get every detail necessary for the best sale. Since there are several factors that significantly impact the worth of your business, it pays to have them all evaluated and explained.
Many business owners want to know what a realistic asking price would be when pricing their business. The best way to find an accurate assessment of your business comes by working with a professional business appraiser experienced in the process of valuation. Brokers work to understand your industry, what trends are with sales, and help you ask for the best possible price.
When it comes time to traverse the sales process, an accurate valuation helps to ensure you don’t undersell yourself when managing a successful sale.
Through gathering profit and loss statements, checking financial records, and looking through historical data of your roofing company’s financial performance, a broker gathers and analyzes all the financial information they need to help you proceed in the right direction for the sales process. They help you determine your company’s worth and what the next steps are toward making a sale.
Once you’ve done the due diligence in learning what your roofing business is worth, you can better ensure you don’t leave money on the table when it comes time to sell. Financial statements that enhance your business value give you better insight into how much to list your business for, and it also provides more bargaining power when you meet with serious buyers.
Source: Roofing Contractor
The official publication for the International Roofing Expo®
A trend like the one above points toward a great period to have a roofing company that you’re considering selling. In a period where the market continues to thrive, you want to make sure that when you sell your roofing business, you’re not missing any of the details for your business. This provides more bargaining power and ensures you always get the best price for what your roofing business is worth.
Finding potential buyers for your business might not prove a challenge. When selling a roofing company, the real challenge comes with finding the right person to make a deal with. By working with a broker and gathering the valuation of your business, you can get a better idea of what new owner you should look for.
This not only provides insight into who you should look for, but also provides you with strategic planning for going into negotiations. Without a management team or important data about the roofing industry and how your business compares, you can do yourself a disservice through improper valuation and asking price.
In order to secure a favorable price for your roofing business, Advanced Business Brokers is the team you can count on. From submitting the correct paperwork to the final handshake, we can help through every step of the business selling process.
Are you looking to sell your roofing business? Reach out to ABB to learn more about how much your business might be worth, the steps to find the right buyer, and how to get a smooth transition to the closing process. Our expert guidance will help answer questions you may have and help you get the maximum value for your roofing business.
If you’re thinking about selling your business and don’t know where to start, consider speaking with our team here at Advanced Business Brokers. We specialize in brokering and advising exit plan strategies for various sizes/sectors of businesses.