Advice for Contractors on Value of Business

ST. LOUIS, MO — Wealth Now!, an organization formed last August to help match buyers and sellers of residential service businesses in plumbing or hvac, is launching a new service: advising owners of contracting businesses on the market value of their companies and how to build that value for sale.

The organization recently closed its first sale after locating a buyer for Geiger Heating, Air Conditioning, and Plumbing in Delaware. Dave Geiger, the former owner, said, “I explored selling my business and was unable to complete a sale. After working with Wealth Now!, they not only succeeded in finding a buyer, but helped me get a strong price that, a year ago, didn’t seem possible.”

Lon Cassel, a principal for Wealth Now!, said the group’s contacts with contractors had demonstrated that many had no concept of how to value their businesses or how to produce a written plan to increase the value.

A series of value planning events will be conducted throughout the U.S. for hvac/plumbing contractors beginning on April 19 in Baltimore, MD; May 3 in Tampa, FL; and May 31, in White Plains, NY. For more information, call Cassel at 866-932-5846, ext. 313.

Publication date: 04/09/2001

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