Intro

This chapter explores the complexities of buying and selling trade businesses, focusing specifically on the heating and air conditioning industry. The conversation emphasizes the importance of business structuring and strategic insights for maximizing value, along with practical matchmaking between buyers and sellers.

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Episode notes

#423 Thinking about selling your business someday? Then you’ll want to hear this episode! Patrick Lange, owner of Business Modification Group and one of the country’s top HVAC business brokers, joins host Brien Gearin to break down what really makes a business sellable — especially in the trades. After selling over 140 companies, Patrick shares why hiding profits might save you on taxes but can kill your valuation, how to build a trades business buyers will actually want, and what to expect during the sales process. He also reveals how the “silver tsunami” of retiring baby boomers is creating massive opportunity for both buyers and sellers, the sweet spot for company size, and why service-based businesses are more attractive than those focused on new construction. Whether you’re looking to buy, sell, or simply build with the end in mind, this episode is packed with practical advice, real-world stories, and eye-opening insights that every entrepreneur should hear!

What we discuss with Patrick:

+ Why hiding profits kills valuation

+ Four pillars of a sellable business

+ Benefits of trades vs. new construction

+ Ideal revenue range for acquisitions

+ Impact of baby boomer retirements

+ Importance of clean financials

+ Attracting buyers through content marketing

+ Role of employees in business value

+ Typical deal timelines and structures

+ Earning potential as a business broker

Thank you, Patrick!