A home services business involves a business that, as the name suggests, provides a service in residential homes. From plumbing and landscaping, to flooring and painting, experts in home repair and improvement can create a business around their specific set of skills. Buying an existing business, rather than starting your own business, can be beneficial in both the short and long term. This can be true for a number of reasons but the most important being the pre-existing clientele and exposure. As the seller, you have a unique and beneficial asset in your clientele
The home services industry is constantly growing. With there always being young new homeowners and renovations to be done, there is always room for growth. In fact, floor covering sales were over $19.5 billion four years ago with steady growth every year following. The industry has 125,000 workers with a 5% growth projection by 2024. More impressively, the HVAC (heating, ventilation and air conditioning) industry accounts for 292,000 jobs and is expected to grow by 14% by 2024.
As the owner of a home services business, there are a few steps you need to take when preparing for a sale:
First and foremost, get your finances in order. It is important to go through financial statements and determine the worth of your business in order to set a price. This can be done most easily with the help of an experienced broker and appraiser. This way, you can ensure you are not overselling leaving you without offers, or worse, underselling your business.
A Transworld Houston business advisor assigned to your business will be an expert not only in the home services industry, but your specific business vertical. Whether your business involves plumbing, HVAC, flooring or all of the above, your advisor will not only be well-versed but also well-equipped to prepare your business for a sale.
Once the price has been set, your business will need to be listed, marketed and negotiations will begin. Since confidentiality is key while selling a business, Transworld Houston brokers serve as advisors and liaisons. Our offices can serve as neutral locations for business deals as well as a safe number or email for prospective buyers to reach out with questions. In addition, Transworld Houston offers an arsenal of vetted and approved potential buyers making the search for the right one that much smoother and quicker.
If you are considering selling your business, call Transworld Business Advisors of Houston at 281-769-4277 today! An advisor can walk you through every step of preparing your business for a sale and getting it sold for the best possible price. Let’s schedule a consultation.