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  1. #1
    Join Date
    Mar 2007
    Location
    Chandler, AZ
    Posts
    119

    Default Selling your HI biz

    Hello All!

    Just a quick question. I may be retiring in the near future and was wondering if a HI's, one guy operations is something that can be sold?? It's a successful business with many repeat clients.
    Just wondering, has anyone done this, or do we just fade away quietly.

    Cheers!

    Similar Threads:
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    Dave Hill
    Buyers & Sellers Property Inspections LLC
    WWW.BuyersSellersPi.Com

  2. #2
    Join Date
    Aug 2011
    Location
    Bennett (Denver metro), Colorado
    Posts
    1,385

    Default Re: Selling your HI biz

    Quote Originally Posted by Dave Hill View Post
    Hello All!

    Just a quick question. I may be retiring in the near future and was wondering if a HI's, one guy operations is something that can be sold?? It's a successful business with many repeat clients.
    Just wondering, has anyone done this, or do we just fade away quietly.

    Cheers!
    A friend who had a one man shop sold his biz for $7K.

    If you choose not to decide, you still have made a choice.

  3. #3
    Join Date
    Mar 2007
    Location
    Ormond Beach, Florida
    Posts
    25,982

    Default Re: Selling your HI biz

    I suspect a few have been able to 'bring a new person' into the business to 'take it over' after some set time to allow the new person to get up to speed.

    In the meantime an income sharing plan allows both to get something from it.

    I think it is difficult to 'outright sell a single inspector business' ... I ended up giving my phone number to a friend inspector who he and I shared work back and forth and worked together on various projects.

    Monetarily ... I walked away without anything (other than knowing my clients would be in good hands).

    But ... I wouldn't say that I faded away quietly aso that was 11 years ago ...

    Jerry Peck, Construction / Litigation Consultant
    Construction Litigation Consultants, LLC ( www.ConstructionLitigationConsultants.com )
    www.AskCodeMan.com

  4. #4
    Join Date
    Mar 2007
    Location
    Knoxville, TN
    Posts
    2,420

    Default Re: Selling your HI biz

    I sold my business when I left CA in 94. I did sell it to an employee however. In 2005, I bought a business from a friend when he left TN 9he was a single operator).
    Feel free to send me a PM.


  5. #5
    Join Date
    Dec 2013
    Location
    Texas
    Posts
    19

    Default Re: Selling your HI biz

    I bought my current inspection company from the original owner. I worked with him for a while and we set a dollar amount for the sale. Instead of cash we settled on 5% of the revenue of each month going to him until the figure we agreed on was paid off.


  6. #6
    Join Date
    Mar 2007
    Location
    Knoxville, TN
    Posts
    2,420

    Default Re: Selling your HI biz

    Quote Originally Posted by Travis Franzoy View Post
    I bought my current inspection company from the original owner. I worked with him for a while and we set a dollar amount for the sale. Instead of cash we settled on 5% of the revenue of each month going to him until the figure we agreed on was paid off.
    Sounds like a great deal for you, and a lousy one for him.


  7. #7
    Join Date
    Oct 2010
    Location
    MONTREAL QUEBEC-CANADA
    Posts
    1,703

    Default Re: Selling your HI biz

    Morning David, et al.
    Belated Happy 4th to my friends South of the border.

    Through the years of reading MB posts I have heard of Home Inspectors selling their business phone number/s.
    Some in the low 20K.

    As to personally knowing a home inspector that sold his business. One.
    An Ontario inspector. Close friend of Raymond Wand.
    He reportedly sold his business for, "more than some home inspectors make in a year." I took, "more than some home inspectors make in a year," to mean, someone not yet established as a home inspector. < 40K. I hread through the grapevine ><25K.
    Good fair price in my opinion. Just imagine Franchising costs of 10 years.

    From what I read, in Canada the average home inspector earns 40K. Top ten percent over 89K.
    Ten percent a year for ten years would be 40 to 89K.

    David, Jerry recommendation is sound advice. bring someone on board.
    Jerry, thanks for the idea. I have thought of that myself. Being divorced and having no children, none that I know of, I have thought that very same idea. What to do with my business when the times comes.

    I am sure to have a contract at the ready to insure the deal is struck in good faith from the start. An In Good Faith Clause invoking financial restitution; In/With regard to their "respective obligations and commitments" under the agreement.

    Buying a home inspector's business is dam good investment from the get go, me thinks.
    Good luck. Please keep us posted and happy retirement when it happens.

    Robert Young's Montreal Home Inspection Services Inc.
    Call (514) 489-1887 or (514) 441-3732
    Our Motto; Putting information where you need it most, "In your hands.

  8. #8
    Join Date
    Mar 2007
    Location
    Chandler, AZ
    Posts
    119

    Default Re: Selling your HI biz

    Good morning!

    I appreciate all the good inputs. I knew I could count on getting great advice.

    Much appreciated!

    - - - Updated - - -

    Dave Hill
    Buyers & Sellers Property Inspections LLC
    WWW.BuyersSellersPi.Com

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