There are a few aspects to the construction business sector, from business to residential construction, remodeling, renovation, and more. With housing prices on the rise, and the US economy thriving, the construction industry is set to see some great returns even in some markets in California where growth is moderate.
The construction industry experiences ups and downs, but the stronger the economy and the more disposable income consumers have, the better the industry performs. Specialization is also key to success, from focusing on a certain region to specific types of remodeling, architecture, or home types. When an industry is strong, selling your business is much easier.
There are challenges the construction industry faces as the economy in various locations fluctuates. Also, with growth, companies are faced with the difficulty of finding qualified employees in times of low unemployment. But with low unemployment and disposable income levels and consumer confidence high, everything from full remodels to new home and business construction is on the rise. Now is a great time to talk about selling your California construction business.
The construction business industry will be strong for a long time to come and can be a very profitable business when costs are controlled and it is managed properly. Finding the right buyer can be challenging with all the licensing required by California, but that is what we specialize in doing here at Rogerson Business Services.
Are you selling a construction business in California? Or are you just now thinking about selling? We’ll help you every step of the way, starting with a business valuation, so you know what your business is worth. Then we’ll be there with you every step of the way, from vetting potential buyers to financing, escrow, and closing. We’d love to put our skills and proven track record to work for you.
Selling a construction business in California is different than in other states, and it can vary by location including the city and county where the business is located. First, you will need to have a general contractor’s license. Just because a buyer has a license in another state does not matter. They will need one in California too.
Your buyer may also need special licensing depending on the type of business you own. If you must have a certain license, they need to as well. Your California Certified Business Broker can help you determine if your buyer has or will be able to get licensing in a timely manner.
The other factor in selling a construction business in California is financing. Your buyer will need to qualify for a loan, and you may even need to carry some of the financing yourself. If all of this sounds a little complicated, that’s what we here at Rogerson Business Services are here for. We’ve sold businesses like yours before, and we can help you with any unique needs you may have when selling a construction business in California.