Episode 24: What’s your business worth
For most owners of Plumbing, Electrical, Landscaping, Tiling, or similar service based trades businesses selling a business only happens once. That poses a few challenges but also some opportunities, with one of the challenges being that because you only do it once you’re not well prepared and probably don’t even know how to make a business more valuable and more profitable.
You work hard anyway, so you might as well direct that hard work toward making the business more valuable, after all, it has the potential to be the most valuable asset you own, assuming it’s not already. You don’t want to work all these years, to go to cash in your chips and find out that chips aren’t worth anything. It’s not as simple as just making sales or looking at a similar sized business and assuming yours is worth the same, you need to know your stuff.
In this episode you’ll learn how to value your business and equations involved with getting an estimate of what your business is worth. If you want a shortcut hit the link below to download the Business Value Calculator. You’ll also learn how you can make your business more valuable and attractive to a potential buyer. Finally, you will learn about the different types of risk and how to avoid them so they don’t effect the value of your business.
WHAT YOU’LL GAIN FROM IMPLEMENTING TODAY’S PODCAST:
- How to value your business and what the numbers mean
- How to make your business more valuable and attractive to buyers
- The risks that you need to avoid so the value isn’t effected
LINKS MENTIONED IN THIS EPISODE:
- Book a FREE 15-minute call to learn what coaching could do for you business
- Join our FREE private community of trades business owners in our Facebook group
- Subscribe to our YouTube Channel
- Get a copy of the Profitable Tradie book
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