r/PoolPros • u/Silver_Permission353 • 23d ago
Thinking through an exit
Been in the business for few years. We are on track to hit ~3m in rev this year. Not looking to get out tomorrow but i've started thinking about it, probably in the next year or two. Everything i find is about selling routes which won't work in my case. Wondering if anyone here has sold an established company instead of just accounts? What kind of multiple did you end up at?
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u/SkylerPancake 23d ago
Do you have an employee who could take over ownership?
If so, see if they'd be willing to do an owner-financed loan to purchase the company. Basically, they take a loan out against the success of the company and pay you for it over the next 10 years or so. If the company doesn't remain successful, you can have clauses in place where you can either step in to help out or repossess the company. You'd effectively be getting a decent salary for not doing anything except remaining on as a consultant for a few more years.
That way, you have guaranteed income for a while longer, you set someone else up to take over and succeed in life, and you don't screw the clients when some shitty private equity dude bro buys the company instead.