HVAC and Plumbing Business Owners Discuss Acquisition and Joining a Group

Video Discussion Overview

Friendly Group owner-operators discuss selling their business, being a part of a group, going through acquisition, and offer up some Friendly advice for those considering selling or joining a group.

Video Outline

Thinking about selling your business

• Peace of mind with a group – reduced risk and liability (5:30)
• Getting ready to sell – profitability and structure (7:43)
• Your business does not have to be perfect before selling (8:47)
• Know your values and make sure there is alignment (9:37)

Why Friendly Group

• Relationships and being on a winning team (11:27)
• Keeping our brand and culture and working with a team (13:11)
• Talking with the other owners and reinvestment (15:38)

Discussing Due Diligence and Team Involvement

• Having a good team to help, really helps (16:45)
• Ask questions, get a mentor, and know mistakes are okay – be transparent (19:54)
• Informing the team and new opportunities for employees (24:03)
• Business as usual with better benefits (27:45)
• “Power in the Pack” – Group of leaders pulling together makes the load a lot lighter (28:41)

There’s Power in the Pack

• “Power in the Pack” – Group of leaders pulling together makes the load a lot lighter (28:41)
• Driving each other to do better and sharing best practices (31:41)
• Training and developing a learning center together (33:22)

The Selling Process & Check-In

• What is the process like – financials review and offer, LOI, Due Diligence (36:32)
• Deal structure and “second bite of the apple” (37:14)
• Getting honest feedback before selling your business (38:50)