Author Topic: Sell your business services. Any good/bad experiences?  (Read 1281 times)

280plus

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Sell your business services. Any good/bad experiences?
« on: November 17, 2010, 08:44:41 AM »
I think I've just about had it with HVAC. I'm just getting real tired of dealing with the general public and the ***holes embedded within. Anybody ever sold their business through one of these online services?

Am I to assume the one at the top of the google page is the most popular?
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Grandpa Shooter

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Re: Sell your business services. Any good/bad experiences?
« Reply #1 on: November 17, 2010, 01:51:30 PM »
What do you have to sell other than a van or truck and a bunch of tools?  Do you have a business name which would bring in calls to the new owner, or are you and your integrity the only real assets of the business?  Selling a "book of business" like an insurance agency is one thing, selling a business based solely on your reputation is quite different.

280plus

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Re: Sell your business services. Any good/bad experiences?
« Reply #2 on: November 17, 2010, 02:18:57 PM »
yea, I know. I do have a fairly decent customer base (50-75) under the name I've used for 12 years now. I'm figuring my data base which includes 12 years of contacts as well as the regulars is worth something and the biz right now apparently has a superior D&B report. Plus an old van and some tools and stock. Bleepin' $11,000 worth of stock no less. (I'm just as shocked as anyone  :lol:)

I feel like at 53 I'm starting to lose my edge a bit, in this business it means time to go, at least off the road anyways. I imagine I could still push a pencil pretty good. Or a broom.   ;)
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Grandpa Shooter

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Re: Sell your business services. Any good/bad experiences?
« Reply #3 on: November 17, 2010, 04:22:50 PM »
I sold one business for the street value of the equipment without any guarantee to the buyer that he could continue my business relationship with my accounts.  I had no contracts since I have always done business on a handshake and my word.  It got me out of the business at 52.  I had already started another business, so I just went into that one full time until I ultimately retired last year.  The second business I just folded and left a message saying I was no longer working in that field.

What you seem to want is for someone to buy your business on faith with no contracts and the hope they can keep it going.  In business terms that is called "Blue Sky" or "Goodwill" and it will only get what someone is willing to pay above and beyond the value of your equipment, inventory and business fixtures (desk, chairs, etc.)  Have you considered having your business appraised by someone who specializes in selling businesses like yours?  Another option is to sell it to someone who wants to own a business and contract with them to do the work for X amount of time as a condition of the sale.  They will probably want a "no compete" clause written into any deal for the business or a contract for your services so you can't sell and then cut their throat after the deal.

Jim147

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Re: Sell your business services. Any good/bad experiences?
« Reply #4 on: November 17, 2010, 05:20:31 PM »
You might try listing it here.

http://hvac-talk.com/vbb/forumdisplay.php?f=42

I've never tried selling a business but used to have a national company call all the time trying to buy us.

jim
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