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Selling Your Home Service Business? Here’s How To Increase Its Value
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Live from the EPIC2024 stage hosted by EGIA, Patrick Lange, home service business broker and founder of Business Modification Group, joins BlueTube to share what he’s learned from buying and selling more than 125 residential service businesses.
Welcome back, listeners! This week, we’re coming to you live from Anaheim, CA, at the EPIC2024 podcasting stage! We’re joined by EPIC presenter, business owner, former tradesman, and home service business broker expert, Patrick Lange.
During the COVID-19 pandemic, the industry underwent a barrage of private equity firms entering the space. HVAC companies, plumbers, electricians, and roofers — all types of service businesses — were acquired left and right, turning owners into millionaires and raising local competition to an unprecedented level.
To get the check you want (and deserve), it’s critical to build an exit strategy and execute it.
Patrick shares the common pitfalls owners run into when selling their business and how to avoid them, the real multiple buyers are paying, and most importantly, strategies to increase the value of your company before you sell.
In this episode, we discuss
- 00:03:06 How Patrick got into selling home service businesses
- 00:04:45 Patrick’s other entrepreneurial ventures, including owning a residential HVAC company and building a pool cleaning empire in Florida
- 00:08:32 Knowing when it’s time to sell your business
- 00:10:19 Patrick answers the question, “How much is your business really worth?”
- 00:12:53 Most common mistakes owners make when selling a business (and how to avoid them)
- 00:16:41 Operating efficiency and the value of your business
- 00:21:18 Where the M&A market is heading in the trades
Guest
Patrick Lange – Home Services business broker & founder of business modification group
Over the past four years, Patrick has sold more than 125 HVAC, plumbing, and electrical companies in the United States. A former owner and operator of two home service companies, Patrick found it nearly impossible to find resources on how to sell his HVAC business — and that’s how Business Modification Group was born.
Specializing in selling HVAC businesses, Patrick’s marketing strategy is guaranteed to sell your business for the most amount of money in the shortest amount of time.
Learn more about Patrick and Business Modification Group online at BusinessModificationGroup.com.
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About The Author: Brandon is Blue Corona's Sr. Director of Marketing and host of BlueTube, the home services podcast powered by Blue Corona. With more than a decade of marketing experience, Brandon leads the charge on Blue Corona's growth strategies and works closely with our partner organizations like ServiceTitan and Nexstar. When he's not analyzing marketing data, you can find Brandon enjoying the outdoors with his wife and two daughters (or if he's lucky, on the golf course).
View more blogs by Brandon Doyle
The information on this website is for informational purposes only; it is deemed accurate but not guaranteed. It does not constitute professional advice. All information is subject to change at any time without notice. Contact us for complete details.
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