Don’t Settle When it Comes to Selling Your Business

By Evelyn Witterholt. 

Here are some tips and tricks for increasing the value of your contracting company when it comes time to sell it. 

When you’ve built a successful business and you feel like you’re in a good position to sell it, do you know how to determine how much your company is really worth? If you find the value of your business is good, but could be better, would you know the best ways to increase your price point? JobProgress asks these questions and more in their interview with David Buzzelli from Leap.  

When a contracting company is looking to sell their company, to make sure that selling is even an option they must do three things: keep clean books, increase profits and make sure their business is being run effectively. Selling a company means there must be an easy way to transfer the company’s working processes. According to JobProgress, “There need to be defined processes for quoting work, managing projects, communicating with customers and others on the team and running the company that can be turned over to the new owner seamlessly.” 

Aside from bad bookkeeping, there are other things that could turn away potential buyers that business owners must consider. For example, if you find you make the majority of your revenue during the summertime, this could be a bad look to potential buyers as many of them are looking for year-round profits. 

Above all else, the contracting software company encourages business owners to be patient during the whole process. “It will take at least six months to go through due diligence, legal, financial underwriting and the transfer of ownership,” JobProgress says. “The process of due diligence and talking to potential buyers can be tiresome, but the cleaner your financials are, the less painful it will be.” 

Check out the rest of the article to learn more about increasing the value of your business. 

Learn more about JobProgress in their RoofersCoffeeShop® Directory or visit www.jobprogress.com. 

About Evelyn  

Evelyn works as a writer for RoofersCoffeeShop, MetalCoffeeShop and AskARoofer. When she isn’t writing about roofing, she’s either at the gym lifting weights or curled up on the couch watching a movie.