The Contractor Fight with Tom Reber TCF931: How to sell your Company
Are you a small contractor dreaming of the day you can finally sell your business and ride off into the sunset? Steve guides you on how to make that dream a reality. Having sold four companies himself, Steve shares his insights and experiences on how to sell your business successfully. He covers all the key steps, from evaluating your company to finding the right buyer to ensuring a smooth transition.
In this episode, Steve discusses:
- Determining if your business has something of value that someone would want to buy
- Calculating the average profit over the last three years and multiplying this average by three to get a starting price
- Growing your own buyers by training employees to take over the business
- Hiring a business broker to find potential buyers
- Finding a large company that may want to acquire your company
- Sticking around for a year after the sale to train employees and ensure a seamless handover
- Prioritizing an ethical, win-win scenario for both the buyer and seller
Resources:
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