Podcast: Selling a Window Cleaning & Snow Removal Business
Trying to sell your business while you manage daily operations can be a frustrating experience. It’s difficult to find qualified buyers, and you may waste time with bidders who don’t have the resources or interest in making a serious offer.
Working with an experienced business broker is a much better option. They know how to value and market your business, and they have a network of potential buyers. Many business owners attempt to sell the business on their own, then decide to work with a broker.
In 2020, owners are putting in more hours to manage their business during the COVID-19 pandemic. Today, it’s even more important to hand off the business sale tasks to an experienced broker. Find a trusted advisor, so you can focus on your business.
In this episode of the Business Leader’s Podcast, Donna and Gary Thiel explain the journey they took to sell their window cleaning and snow removal business. Gary purchased the business in 1986 after working as an employee. Donna joined the business in 1996, and handled the accounting and administrative tasks.
The Thiel’s closed on their business sale in March of 2019.
Managing the business was stressful, particularly the task of hiring quality staff. Labor costs in Denver rose sharply over time, and the Thiels had to compete with the growing construction industry for workers. Competition made generating a profit more difficult.
The Thiels attempted to sell the business on their own for 18 months but became frustrated with the sale process. They reached out to Marla DiCarlo, the co-owner and CEO of Raincatcher, who introduced them to Keith Marlow, an Associate Broker with the firm.
Donna and Gary and filled out a detailed questionnaire, which helped them define their company’s strengths and weaknesses. Keith used the data to define the value proposition for the business. The experts at Raincatcher asked a number of questions that the Thiels never considered before meeting with a business broker.
Once the business was listed, Keith called to explain the background of each interested buyer, so that the Thiel’s could decide whether or not to meet the interested individual. Keith maintained a calm demeanor during times of frustration, particularly regarding due diligence requests. Selling the business was emotional for the Thiels, and they benefited from Keith’s ability to keep the process on track.
The Thiels met with qualified buyers within six weeks of starting with Raincatcher. After struggling to sell the business on their own, they were impressed with Raincatcher’s ability to find qualified buyers.
It’s been more than 18 months since the sale was closed, and the Thiel’s stress level is much lower.
They have some advice for business owners considering a sale. Contact Raincatcher at the beginning of the process, and use your broker as a trusted advisor until the sale is closed. You’ll save time, manage your business with less anxiety, and receive an attractive price for your business.
Listen to the whole podcast here: https://www.youtube.com/watch?v=YM6QWil8e3s