The value of an exit strategy
Part of our “Building Business” series appearing in Fine Homebuilding magazine.
By Mel Baiser
Most contractors don’t intend to spend decades putting everything into growing a business only to shut it down when they retire. But every year successful construction and specialty trade companies do just that, and it’s generally because the owner waited too long to create an exit plan.
If you’ve been in business for a while, you’ve probably built a solid reputation, a hardworking team, and a ton of fantastic projects. Hopefully you’ve also managed to build a livelihood for yourself and your family. But if you’re like most tradespeople, you haven’t put a lot of thought into retirement.
Closing the doors is certainly one option, but it’s not your only one. There are several paths for transitioning your business to new ownership that may be worth exploring. Whether you are looking to help fund your retirement or to keep your team employed while continuing your legacy, selling your company can yield multiple benefits.
With the construction industry facing severe labor and skill shortages, successful ownership transitions of established companies could be a critical missing piece to support the longevity of our industry. Plus, building a company ready for an ownership transition doesn’t just make your business more valuable in the future; it can make it more profitable, more efficient, and less stressful to run right now. The work required to get your business ready to sell is the same work needed to build a stronger company today.
Start Planning Early
Continue reading at Fine Homebuilding Magazine (Issue 342 - October 2026)
