For many HVAC owners, it’s never too late to sell a business, which is the case in the current sellers’ market. But selling a business is a process. The sale can wrap up quickly or require the original owner to work for the new owners for an extended period.
Often, the timeline becomes a problem when an owner is ready to retire, but realizes that it’s difficult to sell their business without a multi-year transition plan. For an owner whose heart is set on retiring in a year, the requirement of a multi-year transition plan can be disheartening, but is the most likely way to maximize valuation. An extended transition period can happen for smaller businesses or even larger companies where the owner is still heavily involved. These owner’s wind up kicking themselves, wishing they’d sold their business a year or two sooner. That way, they could have built the transition time into their exit and retirement plan.