Episode 24

full
Published on:

9th Jul 2022

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 TODAYS 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:

Thanks for joining us this week. Want to subscribe to The Profitable Tradie Podcast? Have some feedback you’d like to share? Connect with us and leave us a review with a 5-star rating. If you think that’s too high, tell us why that is, we’d love to hear from you! Just shoot me an email with the word ‘PODCAST’ in the subject line to tony.fraserjones@profitabletradie.com



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About the Podcast

The Profitable Tradie Podcast
How to build a profitable Plumbing, Electrical or similar business that gives you the time, money and freedom to enjoy life.
Are you the owner of a Plumbing, Electrical, or similar service business and looking to increase your profits and regain your freedom?


If you answered yes to any of the above then follow/subscribe now, this is the podcast for you!

Presented by Tony Fraser-Jones and Phil Smith from Profitable Tradie. We dive into what it takes to build a profitable trades business that gives you the time and freedom you deserve.

We touch on topics like...
- How to hire decent tradespeople.
- What to do when clients don't pay their invoice.
- How to get around people beating me down on what I charge.
- Should I buy or lease my next van/truck?
- How to get my team to get off their phones and be motivated for work.
- The second easiest way to increase your profitability.

Along with sharing a ton of free resources so you can get started on what we're discussing right away!

We also talk with some of the world's most successful trades business owners and learn how they took their businesses from mediocre to multimillion.

In short. We don't know what we don't know.

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About your host

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Tony Fraser Jones