Construction business brokers in Orange County are professionals who work with developers that build projects. They help construction businesses sell their companies and other property-related assets.
Here Are Four Tips For Selling A Construction Business In Orange County, California:
1.Use a Construction Business Broker
What is a construction business broker?
Construction business brokers are professionals who help construction businesses find buyers and sellers. They are experts in navigating the tedious sale process. They are brought in to ensure that your sale goes smoothly and no steps are missed. In addition to helping the seller, they also make sure the buyer is qualified to purchase the business.
Why use a construction business broker?
Construction business brokers normally have extensive experience in the construction sector and can provide valuable insight when navigating the steps required to sell your business. Their extensive experience in the construction sector normally means they also already have contacts for potential buyers and sellers. Business brokers can also help with an accurate business valuation to ensure the business is not being listed at an unrealistic price.
How to Use A Construction Broker in Orange County
Construction business brokers should be brought in early and used to provide an accurate company valuation, to provide insight into the complex business selling process, and to leverage their contacts to find the best buyer for your business. Brokers should be given as much information as possible upfront so they can provide guidance on the best steps forward and ensure there are no surprises along the way.
2.Price Your Business
Your Orange County business broker will help you with your company’s valuation and can help establish your final selling price. Although, you could simply subtract liabilities from assets, this isn’t a very accurate way to find what value your construction business has. Sell prices of similar businesses, changing value of properties and other factors will be considered by your broker.
3.Organize Your Company
Obviously, you want your construction business to bring a premium price when selling. However, to get that premium price, work has to be put in to ensure your finances are in order and up-to-date. You also need to ensure that business processes are in place and helping the company. A buyer will see a smooth running business as a more lucrative opportunity than one with questionable financials or processes in place.
4.Slowly Remove Yourself From The Company
Having a self-sufficient business in place that isn’t going to collapse as soon as the owners change is an important step to the process. Verify that your construction managers understand their departments and have them running smoothly with little to no oversight from you. Verify that front office employees are running the day-to-day operations of your construction business with limited missteps and can continue to operate successfully in your stead. A buyer will see these as lucrative benefits to buying your construction company since they can receive ownership with minimal downtime or hiccups.
Orange County construction companies are complex operations that can range from small crews working single jobs to large organizations with people and assets spread across California. This is why we recommend bringing in a professional construction business broker that will help you along the way and ensure the sell of your company goes as smoothly as possible.