Sold my HVAC company three weeks ago. Twenty-two years. The new owner is a good guy, and the handover went smoothly. But the moment I gave him the keys, I had to step outside for a minute. It hit me harder than I expected. Now I'm a couple weeks into retirement, and honestly? I feel lighter than I have in years. No more 3am panic calls. No more payroll stress. It was emotional, but walking away a free man was worth it. Anyone else feel that mix?
Exit Story
Handing over the keys was emotional, but walking away a free man was worth it
congrats on getting out. the key handover is a weird ritual. i didn't sell a business but i handed over my dad's workshop workshop after he passed. felt like i was erasing him. but the relief came later. give it a month.
I sold my bakery last year. I cried in the car aftter the closing. Not because I regretted it, but because it was the end of a version of me. The freedom part took a while to sink in. But yes, worth it.
What kind of multiple did you get? I'm looking at selling my landscaping business in the next 18 months. Not trying to be nosy, just trying to gauge the market.
No problem. I got 3.2x SDE. Was not the highest offer, but the buyer was willing to keep my whole crew. That mattered more than squeezing out an extra few percent.
that's a solid multiple for HVAC. keeping the crew is huge. i've seen deals fall apart because the new owner tried to replace everyone and the culture just died.
I'm not a business owner, but my husband just went through this with his plumbing business. He had the same emotional reaction. It was strange for me because I never saw him cry before. Now he's gardening and actually sleeping throug the night.
Thanks for the number. That's helpful. How long did the whole process take from listing to closing?
About seven months. Could have been faster but I was picky. Wanted to make sure the buyer wasn't going to gut the place.
The emotional part is real. People talk about the money but not the identity loss. You spend decades being the guy who owns the business and then suddenly you're just... a guy. Took me a long time to be okay with that.
daysleeper that's the part nobody warns you about. i still catch myself thinking 'i should check the oven' at 4am. but then i remember i don't have to.
seven months is fast actually. sounds like You did it right though. i'm curious how you handled the first month of not having a schedule. that would drive me crazy.