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Heating Up Your Exit Strategy: Navigating the Sale of Your HVAC Business
In this episode, Patrick Lange, Founder of the Business Modification Group, shares his expertise in helping heating and air business owners sell their companies. With years of experience and a deep understanding of their unique challenges, Patrick discusses his journey from owning a financial planning and swimming pool service company to becoming a business broker specializing in heating and air companies. He highlights his proactive marketing approach, utilizing social media, direct mail, and industry organizations to promote listings.
Episode 3 Show Notes
Summary
Patrick Lang, a top-ranked business broker specializing in helping heating and air business owners sell their companies, shares his expertise and insights. He emphasizes the importance of building a business to sell, not just to save taxes or be creative with accounting. Lang discusses common pitfalls owners face when preparing to sell, such as not getting out of their own way and not understanding the realistic value of their business. He also highlights the need for proactive marketing and advertising to find buyers and shares success stories of helping business owners achieve their goals through strategic sales. Lang predicts a potential slowdown in consolidation in the industry and advises business owners to embrace change and focus on providing value to people.
Keywords
business broker, heating and air business, selling a business, common pitfalls, proactive marketing, success stories, consolidation, embracing change, providing value
Takeaways
- Build a business to sell, not just to save taxes or be creative with accounting.
- Common pitfalls when preparing to sell include not getting out of your own way and not understanding the realistic value of your business.
- Proactive marketing and advertising are crucial to finding buyers for your business.
- Success stories of helping business owners achieve their goals through strategic sales are common in the industry.
- The industry may see a potential slowdown in consolidation, but companies that provide value will still have a big value in the marketplace.
- Embrace change and focus on providing value to people.
Titles
- Proactive Marketing: Finding Buyers for Your Business
- Success Stories: Achieving Goals Through Strategic Sales
Sound Bites
- “Build a business to sell, not a business to save taxes on.”
- “The primary pitfall is not getting out of their own way.”
- “We are real heavy on social media, Facebook, LinkedIn, those types of things.”
Chapters
00:00
Patrick’s Diverse Business Journey
03:22
Common Pitfalls and Success Stories
06:44
Proactive Marketing and the Future of the HVAC Industry
10:02
Unconventional Advice for Selling Your HVAC Business
About the speakers
Patrick Lange is a seasoned business broker helping heating and air business owners sell their companies. With a background in financial planning and swimming pool services, Patrick brings a wealth of experience and a deep understanding of the unique challenges business owners face in the HVAC industry. As the Founder of the Business Modification Group, he employs a proactive marketing approach to promote listings effectively, advising owners to build their businesses with the intention of selling.
A Boston native turned California resident, blending my background in acting with a passion for sales. Over time, I’ve immersed myself in the world of Field and Home Service, uncovering the inner workings of this fascinating industry.
What I’ve found is a vibrant community of service professionals, each with their own journey marked by tales of resilience and triumph. Their stories, filled with grit and grace, serve as a testament to the remarkable growth potential within this field.
Now, I’ve partnered with Workiz to share these inspiring narratives through our new podcast, Workiz Unplugged. Together, we aim to uplift and motivate individuals within the industry, offering insights and lessons from those who have thrived in the face of challenges.
Book a demo with Caitlin today!
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Sign up to be a guest at Workiz Unplugged, our field service podcast, and join our host, Caitlin Dwyer, a Boston native turned California transplant, as she shares inspiring narratives and offers insights and lessons from those who have thrived in the face of challenges.
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