I love movies. Especially older movies from my youth. I find that so many of them have storylines that can be easily tied into personal and business life.

One of my favorite movies to watch is “Willy Wonka and the Chocolate Factory.” It’s a classic for all the right reasons.

Down on their luck a family who lives together, including the grandparents. They even share a bed!

A child who lives in poor conditions. He has a job which most of his money is given to help his family. When Wonka announces he’s going to open up his factory, Charlie dreams of finding the “Golden Ticket”. He knows it will change his family’s life!  

For most of us, we can relate. We all want to find our “Golden Ticket” in life. Something that will take us to the top and provide for us and our family. Possibly even future generations! 

Selling a business can feel like stepping into Willy Wonka’s chocolate factory—an adventure filled with anticipation, opportunity and, for a lucky few, a “Golden Ticket” moment.  

Some owners spend decades pouring their hearts into building a thriving company, grinding through long days and sleepless nights to create something valuable. Others, however, crack the code early, scaling quickly and cashing in at just the right time. 

In today’s booming market, restoration business owners have a unique opportunity to turn their hard work into a golden payday—if they prepare properly. 

So, how do you position your business to attract the right buyer and maximize your reward? Let’s dive into the steps that could transform your exit into a truly golden opportunity, leaving you feeling like Charlie with the Golden Ticket!

1. Create an exit plan- It is important to know what your expectations are for selling the business. Some important questions to consider:
   • Are you still wanting to be part of the company post sale? Most companies will require you to still be with the company for a minimum of 24 months. 
   • Are you willing to work for whoever buys your company either in the role of a General Manager or possibly move into a corporate role?
   • Will you roll some of your sale price into shares of the company who is buying yours? (This is a frequent practice in many acquisitions).
   • What is important to you in a sale? Is it finding the highest bidder, or finding the right company to fit the culture you created? 
     
     

2. Know your numbers- This is a very cliché statement. The more you know about your business and the numbers of your business, the easier it will be to sell. You will be more likely to walk away with significantly more money. Creating detailed data that you can track every service offered and the profit margins of each, along with the cost of goods and service, is a great place to start.

   Tracking data from your Project Managers is a great help too. Tracking their closing ratios on numerous services, their expenses on jobs and profit margins helps to find who your strong team players are. The more historical data you have to back this information up, the better it becomes for you.

3. Remove yourself from daily activities- When you sell your business, it is more than likely to be a company who is buying other restoration companies. There are buyers for every profitable company, from smaller operations to large ones. Most buyers want to buy something that is a turnkey, profitable operation. Creating and implementing SOPs that remove yourself from working “in the business” on the daily, will make your business more attractive to a potential buyer.
    
4. Pay off debt- Having a business that has little to no debt will not only make your profit margins larger, but it will also leave you with more money when you sell. In almost every purchase scenario I have seen, the debt has to be paid off prior to purchasing your company. If you have less debt, it means more money in your pocket!
   
   
5. Find a broker- This is a must! There are plenty of companies who are making offers directly to owners. Owners rarely know what their company is worth. If a buyer comes along and makes you an offer, how do you know if the offer is fair or not? When a broker is hired, they will review your company in great detail. Your company will have someone who knows what a fair price will be and what is important to you in the sale. A good broker will hold your hand through the entire process. It can be a very long, intense and emotional time getting from an offer to closing. You need someone to help guide you through it all.
   
   

6. Have a backup plan- A considerable number of companies that sign LOI’s (Letter of Intent) never make it to closing. During “due diligence”, financials, legal matters and other red flags often times change an evaluation of the business. This can have adverse effects for both parties. The seller may be forced to take a significant reduction in the sale price. The buyers may discover things that cause them to walk away from a purchase.

   Create a plan of action that you will take if the acquisition does not go through.

   You may want to keep the business on the market and look for another potential buyer. Maybe you decide to take the business off the market and work on improving numbers to ensure that you can eventually get back to the negotiating table. Being prepared could save you a lot of money and a heartache in the end if things fall apart.

Final Thoughts

Selling your business is a significant milestone, whether it’s the culmination of years of dedication or a strategic exit at the right time. By preparing in advance, developing a clear exit plan, understanding your financials, reducing your involvement in daily operations, minimizing debt and working with a knowledgeable broker, you set yourself up for the best possible outcome. The road to selling isn’t always straightforward and deals can fall apart, but having a backup plan ensures you stay in control of your future. If you take the right steps now, you won’t just be selling a business—you’ll be securing the financial reward and legacy you’ve worked so hard to build. Your golden ticket is within reach.  

Will you be ready when the time comes?